Separate your wants from your needs. You want to work for all you need, not necessarily for all you want. You do not have to sentence yourself to a lifetime of hard labor for the false trappings of status. Living on less can eventually yield much more. The simpler you make your life, the easier it will be to maintain. Think in terms of moderation. It is easier to buy things than to sell them. You can make a comfortable life for yourself by finding contentment in the things you already have and holding reasonable expectations.

Be pragmatic. To build an investment bankroll, you can work more or you can spend less. Many people who write and stick to a household budget find that the sim­ple act of thinking and organizing before spending can yield savings of between 10% – 15% of their earnings without seriously compromising their lifestyles. Give yourself a raise by being frugal.

Employees understand that your company is in business to make money. You make money by generating revenue and by looking for ways to reduce the unnecessary; espe­cially frivolity and waste.

An effective manager sets the example for employees. You can fly coach. You can eat in the company cafeteria. You don’t need a private bathroom or reserved parking space. You see litter and you pick it up.

Get everyone involved. Corporate frugality is a team effort.

Everyone should be engaged in looking for ways to cut costs and rewarded for sharing their suggestions.

Think before you make major corporate purchases. Don’t be impulsive. Give yourself a day or two to consider the pur­chase and if you can still justify the item, then buy it know­ing that you will use it.

No one likes a cheap person. Everyone will accept a leader who sacrifices along with the troops for the good of all concerned.

BillFitzPatrick.com, The Action Principles.

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