It was an early May morning and light from the sun was beginning to fill the airliner. We were circling the International Airport near Reykjavik, Iceland, and the flight crew was preparing for landing. As I braced myself for descent, peering out the window as the waves below got closer and closer, I saw whales spouting and breeching in the blue black water below. I pointed this out to my son, took a deep breath and watched. Hundreds of magnificent animals were spread out before me, stirring the water, forcefully sending up white foamy spray as they moved about. I had never expected to see such a sight, and am sure I never would have, had it not been for a tool that I’ve relied on for a very long time.
That tool is thrift.
It was only through hard work, careful planning, and regular savings (in a word, thrift) that my family and I were able to afford a trip to Europe, where not only did we see whales on the beautiful coasts of Iceland, but we went fishing, using nets, on the blue black surface of the deepest fjord in Norway, took a train from Brussels to Amsterdam, drove over the mountainous spine of Norway to see its glaciers, and toured the Kronborg Castle in Denmark, among other things.
Thrift can Make Your Dreams Come True
As early as my days in elementary school, I had learned of Benjamin Franklin, the “Apostle of Thrift” who defined the road to financial success. For those wanting to gain wealth, his message was simple: work hard and save. (Or in his words, be industrious and frugal.) Contrary to some popular theories today, Franklin considered saving necessary for economic stability and growth, and for personal comfort later on in life.
I took Franklin’s words to heart, and have learned to set goals for things that I want. Whenever I add something to my wish list, I follow this personal model to make my dreams come true:
- set goal
- learn everything possible about the goal
- identify requirements
- work
- check readiness
- achieve goal
Let me illustrate.
1.) Set Goal
Back in January 2001, our family decided the time had come for us to visit Europe.
2.) Research
We had fun reading about the various countries and daydreaming about adventures hiking through the Alps, sunbathing in the Mediterranean, and sipping lattes in Rome. We corresponded with our cousins in Norway and with a nurse in northwest England who I had met. This was to help us decide where to go, when to travel, and how to get from place to place.
3.) Identify Requirements
What does it take to live your dream? What is of greater worth, what you lose or what you gain? It depends on the individual, I suppose, and how the dream evolves. I lost the time it took to earn money, I saw my family less, I had to postpone spending money on different items. I devoted time to learning everything I could about travel in Europe.
4.) Work
My work as a pediatric nurse at a local medical center was somewhat flexible. I could pick up shifts when they were available. I started doing this in earnest, working one shift after another. Sometimes I found myself caring for children for 8 days in a row. Gradually, I found my paychecks expanding. I had three months to make my financial goal and I did.
5.) Check Readiness
Is anyone ever ready to take off for a foreign country? I started preparing in January. I e-mailed my friends in northwestern England and my cousins in Norway. I told them I needed all the help I could get planning for the trip. They came through with lots of suggestions on transportation, what to visit, and where to stay.
Our family discussed destinations. England and Norway were top on the list. Other countries and cities were plugged into the plan and solidified in our minds.
Next I checked out numerous travel books. I liked those that emphasized lost price travel. I learned about low cost carriers and transportation, hostels and sleep sacks to use while staying in hostels, sources for food and drink, and suggestions for having a really safe trip.
6.) Achieve Goal
If your grandparents came from Europe (and mine did), and if you have heard about the “old country” all of your life (and I did), then there is nothing quite like driving across the border of the country of your heritage. To stand there, proudly, watching flags of that country wave in the breeze brings a sense of closure and fulfillment. I decided at that moment that the trip was worth the time, effort, and money that we had spent.
When You Need a Little Help from Your Friends
This process is simple, but it’s not easy. That’s why joining a group like a Women’s Saving Club is so beneficial. It’s also why I started a Thrift Club that meets monthly at my local public library. Clubs like these allow members to achieve their own personal goals by creating a place to
- share creative savings ideas
- support each other
- inspire each other
- hold each other accountable in money issues
Hope for a Thrifty Nation
Americans have always been dreamers. Unfortunately, unless we also become savers, our dreams will just be dreams. With mounting debt and a diminishing nest-egg, trips to Europe will seem as fantastical as voyages to Pluto.
Yet there does seem to be a quiet and subtle change occurring: personal finance blogs are flourishing, some states are starting to require that students are taught financial literacy, banks and credit unions (and even credit cards!) are advertising ways that they make it easier to save. Some organizations, like NYC-based think tank, The Institute for American Values, are launching a “thrift movement” to encourage thrift as a means to thriving. Perhaps people are finally taking responsibility for their financial decisions, instead of caving into commercials, fashions, and fads.
If these signs do indeed indicate a movement back to thrift—as hard work, careful planning, and regular savings—that will mean fewer wishes made on starry nights…and more dreams actually come true.
This is a guest post from Lori Blatzheim who lives in Chanhassen Minnesota, where she works as a nurse. She enjoys writing and leading the local Thrift Club that she founded. Please be respectful of our guest and thank you Lori for your insight.
