Book Talk: Meet the Frugalwoods by Elizabeth Willard Thames

Photo by adam morse on Unsplash

I'm sure you all know about The Frugalwoods' blog if you're part of the Financial Independence/Early Retirement realm. It's one of the first ones that I found when I started my research and I was pleasantly surprised to see that Mrs. FW had recently written a book! I immediately requested it from my library, and when it finally came in, I started reading it right at the bus stop (which is right outside my library). Needless to say, I was hooked.


"We subscribe to the theory that you never know what's going to happen, you never know when you might want out of a situation, and liquid cash and assets are what grease opportunity. Money doesn't make you happy, but money proves the freedom to find out what does make you happy."

Mrs. FW makes it very clear from the beginning that this is just their story, and that she and Mr. FW are very priveleged in a lot of ways. I think that's super important because not everyone will be able to do what they did exactly the way that they did it. Theirs is just one path, dictated by their unique circumstances. However, she also makes it clear that you can reach your goals if you set your mind to it.

"My goal was to figure out when spending money made actionable, appreciable differences in my life, versus when spending money was superfluous, unimportant, and beyond the scope of what brought me lasting enjoyment."

I think the above point is one of the most important presented in the book. It certainly made me look at my spending habits in a new light. I could buy something right now that will make me happy right now, and then forget about in a week. Or I can save that money and put it towards something that will make me happy in the long run.

"I don't think the route to successful frugality entails brutally slashing everything for you budget, because you're bound to end up in that deprived state that behavioral economists have documented. Rather, the key is to identify less expensive options that'll yield the same or a similar end result. Thus, you end  up not feeling deprived, you save a boatload of money, and you are motivated to fine even more opportunities for dramatic changes and the resulting savings."

"I came to understand that, in the end, the only person who truly cares how you live your life is you."

"Don't allow your spending to prevent you from doing what you want; instead, allow frugality to sculpt the life you crave."

While I don't plan on purchasing a homestead in the woods, I would love to have my own tiny house with a large garden. The Frugalwoods' journey makes that goal seem super possible. I just have to work for it. I need to evaluate my situation and then do what it takes to get there. Do I spend $800 a month on clothes? Or do I put that money aside to earn more money and ultimately reach my larger goal?

"Whatever your goal happens to be, managing your money wisely and taking charge of how you spend it is one of the first steps in allowing something new and different and wonderful to flourish in your life."