Frugal Tips from Growing Up Poor

0:00 Ralph: So the question for today is how can the lessons learned from a childhood of financial hardship? Empower you to be a wiser steward of God's blessings today. We'll stay tuned today because we're going to discover frugal tips. Forged in the crucible of growing up poor. You don't want to miss today's episode folks.

0:48 Welcome back to the show today on this motivational Monday, where we try to motivate you. Today, we're diving into a topic near and dear to my heart. And that's frugal tips from growing up poor. I was very fortunate to not grow up in poverty. Most of us in the United States would have to say we didn't. I truly feel we all may learn for some very practical tips. Through my practice and meaning with others who have struggled, I know firsthand the challenges and struggles that come with financial hardship. But I also know the invaluable lessons and habits. That can emerge from those trials. Lessons that can serve you no matter what your current financial situation. well it's a beautiful morning today.

1:29 here on the farm. I can hear the neighbor's chickens waking us all up. And since it's lamb seasoned a sounds, a little lambs are filling the air. It's a truly, a great day to be alive and I'm very happy. You've chosen to join us on the program today. before I forget, don't forget to subscribe to the show and you and our email list. You do that at askralphpodcast.com . So you don't miss tomorrow show. What are you going to talk about tomorrow Ralph Tomorrow, we're going to talk about AI generated robo, cause we've all become victims of these. We're going to talk about those tomorrow. As we always do, let's start with a relevant Bible verse today. As it says in Proverbs chapter 22, verse seven, the rich rule over the poor and the borrower is a slave to the lender.

2:12 The truth is growing up. Poor teaches you the importance of living within your means. Something I preach about all the time. And avoiding the trap of debt. It instills a resourcefulness and creativity that can help you stretch every dollar. So today let's explore some actionable frugal tips from the school of hard knocks. First and foremost. You got to do this folks. Embrace the power of planning. When money is tight, you can't afford to wing it. This is where you're going to hear Ralph start talking about budgets again. And I'm going to say, it's sit down and create a budget. You've got to track every penny coming in and going out. Why do you do that, Ralph? It gives you control and purpose in your spending.

2:55 If you don't have a plan. You're going to plan to fail. Especially, so, when money is tight. That's when you really need to create a budget. Let's move on to number two and that's master the art of delayed gratification. Those are two words and none of us like to hear. But the truth is from when I've talked to people growing up poor teachers, you can't always have what you want right away. And guess what folks. That's okay. And we've got to learn to know that it's okay. You've got to master that art of. Delayed gratification. We live. In a society right now where nobody wants to wait for anything. I could go right on my computer right now and click a button and order whatever I want from Amazon. But you've got to resist those impulse purchases and save up for what you truly need.

3:39 That may be a discussion for a whole nother day. Do we really understand our needs versus our wants?? This is where patience is a financial virtue. Something we all could work on. And number three, become a bargain hunter. We all can do this. Look for deals. Look for discounts and secondhand treasures. You got to figure out a way to not be too proud to shop at thrift stores or buy generic brands. A penny saved is a penny earned. And I'm going to talk a little bit personal here. When I was a kid, about eight years old, my parents decided to divorce. It was probably what was in the best for both of them. And I lived a crazy childhood where my dad was very successful and very wealthy.

4:21 And my mother was Lower middle class. I would have to say she did a great job with us and she did the best she could with what she had. But I lived in this weird dichotomy of going out to dinner, where we would drop a couple of hundred dollars on a dinner for an evening to where my mom would really pinch, her pennies and really look at every dollar spent. And it really taught me some lessons. It taught me how to balance those things. In my mom's house, it was all about what do we need? Wasn't necessarily what we wanted. And that really taught me some life lessons. So I thought we can all look back and say what did we learn during our childhood? Did we learn good financial habits?

5:01 Unfortunately, what I see my practice every day is many people didn't learn those great financial habits. Now I think there's extremes on both. One of the things my mother used to say, and my mother has been dead a year now and I miss her every day, but one of the things she said, And used to crack me when I, when she said it she's, I don't have that kind of money. And I would go to see my Dad on the weekends. And I would say, dad, what kind of money do you have? It sounds funny saying it now, but I truly respect both of my parents and I truly respect what my mother was able to do. She was able to stretch a dollar. We never wanted for anything as a kid. And I got to give my dad credit too, because the truth is my dad helped support us in, putting, paying for school, paying for clothing and all those sort of things.

5:43 But it's just an interesting dichotomy to grow up. And while I'm talking about this. You've got to get in the habit of saving something from every paycheck, no matter how small. Those modest savings. Add up over time. That's one of the things my mother used to do First thing she would always say to me is okay, before I do anything else, I'm going to put aside in my savings account. And maybe it wasn't a lot. That she was able to put into that. But she got in the habit of saving something from every paycheck, no matter how small it's the truth, you build it up a little bit over time. You also got to learn to do it yourself when you can. What does that mean, Ralph? It means this and these are simple things, folks that you can do to directly impact.

6:23 Your financial situation, that's cooked meals at home rather than eating out. And trust me, I get it. It's real simple to do the door dash or the grub hub or whatever those things are now. But are you truly getting, first of all, are you getting a healthy meal? That's one question. And number two, are you getting the most bang for your buck? Another thing you can do in the do it yourself realm is try repairing items before replacing them. If you've listened to the show, you know, that is not one of my fortes. But the truth is folks. There was so many resources available now to help you learn practical skills. YouTube is a frugal friend. I have a farmhand that works here on the farm. For me, one of the things he does consistently is he'll say to me, Ralph, I can't figure out how to fix the trimmer the other day.

7:07 We hear it's getting to be time to start cutting grass again. He said, Ralph, the gas trimmer is not working. And I said that's strange. It was working last season. So I let him stew on it a couple of days. And next thing you know, I noticed he's out next to my office and he's got the gas trimmer running. And I said, what did you do? He says, I YouTube. It. And that really did fix it. So there's a bunch of resources out there. You can use this program. For example, we've got over 300 episodes in our catalog at askralphpodcast.com . Of ways to enhance and improve your financial situation. Now here's another tip. Embrace the gift of simplicity. And I'm guilty of this one folks. Every time the new iPhone comes out or the new apple watch, I got to have it.

7:47 But the truth is that's a want, that's not a need, you don't need the latest and greatest of everything. You've got to learn to take pleasure in life. Simple, joys. Less truly can be more. And when you do need to make a purchase, focus on quality over quantity. Invest in items that will last that's one of the things my grandfather used to say to me all the time, he would go out and buy something. He would investigate it. he would find the thing that worked the best. The thing that has the highest quality are you gonna buy a bunch of things, but if you're not investing in that quality. Those items aren't going to last. And as why things had grown up poor teaches you. It teaches you to appreciate and care for what you have. One of the things my dad always stressed was taking care of the things you have.

8:31 I remember when I was 16. He had bought me a car. And I went out with some friends that night and the next morning was Sunday morning at our house was time to wash the cars. So we weren't allowed, we weren't really allowed to sleep in much. It was time to wash the cars. And I know my dad come running up to my bedroom. He goes, I am very angry with you. And I said, oh boy, what did I do now? He says, come down here and look at this. And we came downstairs and we walk out to the garage and there's my car sitting here. And he had started washing it well, when he was washing it, I guess he noticed on one of the windows, there were some mud or something on the inside. And he says, how in the world did you get mud on the inside of your window? And I said Dad it must've been one my friends must have put his foot up in a window.

9:13 And he says, son, you got to learn to take care of your stuff. If you take care of your things, they will last longer. So that's a lesson that I learned from my dad. And it's a true lesson. If you take care of the things you have, they, really will last longer and it will teach you to appreciate them. I can tell you one thing, I never let another kid sit in the back of my car and put their feet up. Another thing you got to do is practice gratitude and contentment. Maintain the possession you own to extend our lives. And we just talked about that. A frugal mindset. Isn't about deprivation. But about valuing what you've been entrusted with and listen, folks, I did a podcast about that a couple of weeks ago. Everything you have is a gift from God and he's watching to, see how you steward that.

9:56 It's one of the things you also, you can do is look for free or low cost entertainment options as well. You can explore parks, libraries, community events. Invest in hobbies and experience rather than just material things. And you will find such joy in connecting with others. Maybe it's something at your church. One of the things I like to do is I play church league softball. It doesn't take any money to do that besides a couple of pieces of equipment, but it really does fill my tank with joy. And connect with those other people. And finally remember this. Even in times of lack, we can be rich in our generosity. It doesn't have to be generosity with money. Had a client. The other day, we were talking about this.

10:37 Look for opportunities to share your time. Share your talents. But mostly share the resources that you do have. God gave us these things. Giving reminds us to keep money in proper perspective. And it invites blessings back into our lives. Now I know putting these frugal tips into practice takes effort and it takes intentionality, but I promise you. The financial freedom and peace of mind you'll gain is so very worth it. So start small and celebrate each win along the way. And I'll leave you with this verse. Proverbs chapter 21 verse 20 tells us the wise store up choice food and olive oil.

11:17 But fool's gulp. There's down. Let's be wise and stewarding our resources. The habits you build today will lay a strong foundation for your financial future and legacy. Now, before we wrap up, I'll remind all of our listeners. to visit our podcast page. You do that at askralphpodcast.com . There you can leave a review, share your thoughts, or even send us a message. I'm gonna encourage everybody to send us a message this week. I would really like to hear your questions for future episodes. All you got to do is go to the bottom right corner. You'll see a microphone icon. Click on that. And tell me what you want me to talk about on the show now, while you're there. Make sure you join our email list. Why do you want to do that? You want to do that so you can enter a weekly $25 Amazon gift card draw.

11:59 Yes. We're giving away a $25 Amazon gift card each week to some lucky listener on our list. Now, if you want specific help with something that you need help with, you can schedule a consultation with me there as well. And while I'm talking about that. If you know, someone who's struggling with their finances or we're struggling to make ends meet. Please share this episode and share this program. This is my mission field. This is my way to give back and to help people, if I can help one person, I feel like I've done my job today. So if you know somebody that's struggling, just shoot them a text or shoot them an email and say, Hey. Listen to this. podcast says, Ask Ralph podcast he's really helped me. So let's do a little bit of a recap. In today's episode, we unpack some powerful frugal tips learned from growing up poor.

12:42 From budgeting and bargain, hunting to simplicity and generosity. These topics can help you wisely. steward your finances. No matter what your current circumstances are. It doesn't matter whether you're wealthy or poor. Remember this folks. Embracing frugality. Isn't about lack. But it's about intentionally aligning your resources with your values and faith. So go put these tips into action. And watch your financial world transform. And until next time. Stay financially savvy. Keep walking by faith and may God bless you abundantly.