Recipe For Financial Freedom

After reading this post by Golbguru, I thought I should define frugality for myself. I was amazed that people do such things to gain a temporary advantage which I call as cheating.

In India we find these replacements very rare, change of barcode! I feel here the hi-tech crimes are very less. But still for general people like me, I think defining ethics and frugality will set parameters of the alien domain over which I shall never travel.

Ethics: Most simply ethics for me is the act that my heart will not feel bad after doing it. Most people won’t believe but I have stopped lying, and I lie only in extreme case where I am doing for the good of someone.

Frugality: Frugality for me is something altogether different. It’s controlling my natural behavior (e.g. impulse buying etc.) to avoid unnecessary expenses and getting myself in my budget.

These are the long term definitions to which I will stick over my life time. Looking from an investing perspective I see this as an intangible asset which will ensure that my children and people near me get a rub-off effect and help them to become better people.