When a friend of mine came to me for advice, her finances were an absolute mess. She was living miserably because she got plenty of debts and impending financial lawsuits. We are completely opposite. If I am a frugal, she’s a spendthrift. She likes to waste money on expensive items and branded clothes, even if she doesn’t need them. After a thorough discussion about her financial problem, I told her that although I am not a financial planner, I could share with her something taken from personal experiences.
I strongly recommended to her to take drastic actions to pay her debt off as quickly as possible and talk to those whom she had owed money for reconsideration. Otherwise, she will forever suffer financially and emotionally. She followed the advice. She also cut her expenses and took advantage of every opportunity that came her way to increase her income. She’s now debt-free. You see, if we want frugal living, we have to be in control of our finances.