Tag Archives: Self Reliance
It’s remarkable to see that mainstream entrepreneurs have emerged at a time when the economy is going through financial crisis. This proves the notion that there is opportunity in adversity. This post examines how creating your business is one of the main ways of ensuring your financial security.
The buzz of micro-ecosystem
There has been a lot of innovation when it comes to minimizing the size of devices and expanding their capacity. Take smartphones for that matter or nanotechnology which is harboring a lot of potential ranging from healthcare treatments to use in the textile industry. This diversity shows the value created by making the access of technology easier.
You don’t need to come up with big ideas or massive inventions. Now, it’s the era of the micro-innovations or modification of existing technology to make it better. Smartphones or similar technologies have spawned off profit incentives. For example, app development is a massive business. Similarly, healthcare is now being defined by having better and bigger databases for treatment. All these factors indicate that there’s a looming opportunity in the micro-ecosystem.
Self-employment and being frugal-the connection
The philosophy is pretty simple. If you can control your cash, winning in business is a possibility. Since you are frugal, you won’t have the urge to spend unnecessarily. The element of research becomes important here. You have to identify a niche or an area which has not been maximized or used by existing entrepreneurs. This will allow you more room for growth. It was generally thought that entrepreneurs spend big to win big. However, safe play has churned out the best results for many.
Understanding consumer behavior
The advent of social networking as well as free access of data on the internet has allowed entrepreneurs to analyze the target market in a refined manner. These channels have created businesses, for which, the target market is entirely virtual. This means that the opportunity is always there for you to grab. A frugal entrepreneur has a potent mixture of caution and motivation to succeed.
He would opt for term life insurance for ensuring some financial security while he could possibly use his retirement saving to invest in a business. With the consumer behavior is changing over a period of time; it is quite possible to examine it closely. After doing so, prediction can be made as to which side the market would turn.
Previously, such statistics were decided or predicted by a team of analysts trained in consumer psychology, but now, if you engage on social media, you can know the interests of people in your interaction zone, and this is where you can go for the kill. This is how consumer tips for various products/services are made.
The Paradigm Shift
The global economics has shifted from huge corporates to a multitude of profit earning micro set ups. The works in microfinance landed a Noble Prize in economics a few years back. The way down the road is still clear for people who want to do their business.
The competition is there, but the cost of living is also on the rise day by day. The ideal alternate exists in the form of having your own business. The idea is that in order to save money, you need to earn money.
Note: Here’s a guest post from FoodInsurance.com on how to prepare your family in times of emergencies. As I am now featuring topics related to self-reliance and prepping, I believe this guest post will be helpful to me as well as to my new readers.
Experts agree that it is important for people to prepare for an emergency. Whether it is an act of terrorism or a natural disaster, having some basic supplies on hand can make a big difference when it comes to surviving a disaster. However, families, especially those with young children need to take some extra steps to ensure their children are able to cope with the difficulties and stress following any type of emergency situation.
For example, children have their own unique needs and preparing them for a disaster is important. Consider things like how your children will entertain themselves. Whether you need to relocate to a shelter or you plan on sheltering in place, children will need something to occupy their time. You can pack an emergency bag that includes a compact game, a couple of books or even crayons and coloring books. Giving kids an opportunity to relieve stress and engage in typical childhood activities will help them cope with even a difficult situation.
As you are preparing your disaster management plan, be sure to consider the types of foods you will have on hand. There are many types of foods that are easy to store and have a shelf-life that will last for decades. However, children also have some of their favorite foods and ensuring that they have something that they will enjoy can help keep even the pickiest kids comfortable during a disaster. Fortunately, you can find great food storage for a young family by simply adding a few of their favorite foods in a shelf-stable form. Freeze-dried strawberries, peaches and other fruits are often some of the favorites for children.
Part of preparing for a disaster is making an emergency plan. While young children might not be able to contribute much to the actual planning, they should be included in some of the discussions. There is no need to frighten children, but letting them know that you are taking precautions to ensure their safety can actually provide a measure of comfort. Let them help choose a favorite toy to put in their emergency bag. Children can also help decide the types of snacks they would like in their bag. Let them play a role in some of the decisions that go into your emergency preparedness plans.
Choose a child-friendly emergency bag for young kids. This can be a small backpack featuring their favorite cartoon character or it can be a duffel bag in a favorite color. When kids have their own emergency bag, they can take an active role in helping to prepare for an emergency.
When planning your emergency necessities, be sure to include a flashlight and extra batteries for each of your children. Young kids can be frightened of the dark and many times an emergency will mean there is no electricity. Letting each child have their own light source can be very comforting for them.
Photo used under Creative Common License| Credit
Photo used under Creative Commons License | Credit
One important aspect of living frugally is to become self-reliant and be prepared for any emergencies or calamities that may happen any time. Emergencies don’t only include natural calamities like earth quakes, storms, floods, and the like. Job-loss, economic recession, becoming a victim of thieves, helping your neighbors in dire need, are also part of these emergencies. And, take note, I’m not even talking about TEOTWAWKI (the end of the world as we know it) here as I don’t believe in that kind of stuff (hello NatGeo!).
My Basic One-Month Food Storage Plan
As I’m still a neophyte in this kind of prepping task, I decided to create a very basic monthly plan in stocking my food storage. Since I only go to the supermarket every week, I will buy the items that I will stock in weekly basis. I will only buy a few items so that it won’t affect my weekly budget.
1st Month (December)
Week 1 – 4 canned goods, 5-kilo rice
Week 2 – 4 packs dried goods (viand), 4 packs pasta
Week 3 – 4 canned goods, 1 dozen noodles
Week 4 – 2-kilo sugar, 2 boxes of flour, 2 bottles bothane gas
I’m not sure if I will religiously follow the items listed above but I will surely note it in my next food storage post so that I can keep track of my progress.
Top Foods that You Can Stock in Your Food Storage
As I already mentioned, I’m still new to this food storage stuff and I am still doing my own research. When I did some googling a while ago, I found a list of foods that can be stored for a very long period of time, there shelf life can last for a few decades. Check them out below.
9 Foods That Can Outlast You from StillTasty.com
4. Hard Liquor
5. Maple Syrup
6. Pure Vanilla Extract
7. Distilled White Vinegar
8. Cornstarch & Salt
More details about this list by visiting this link.
Have you thought of building your own food storage? Or, have you already built one? Share your tips and suggestions by commenting below.
Living a frugal life is not easy.This is the very reason why I decided to blog about it so that I can keep track of my progress.For people like me who can’t resist the temptation in spending money every time something comes to fancy – living frugally can be very difficult to achieve.But, I will try my best to get my long term goals and will restrain myself from falling back to the old me.
Going back to the title of this post, there are several life-changing reasons why I decided to live frugally.Not just to save money and resources, but also to save myself from relying on anyone mentally, physically, and emotionally.
To Save Myself from Emotional Disasters and Meltdowns
Photo used under Creative Commons License | Photo Credit
Frugal living for me doesn’t just involve saving money and the like.For me, it is a lifestyle that helps a person become stronger when it comes to dealing with his or her emotions and relationships.Being frugal emotionally means you know how to control your behavior and has the skills to determine when to stop investing your emotions to someone.
Frugality in terms of dealing with relationships means the ability to know which kind of people to establish bonds with.It is the skill on how to choose those ones you are comfortable with and stop hanging out with those ones that bring anxieties and depressions.In short, only hang out with people you are comfortable with – those ones whom you are confident in showing the REAL YOU.
To Become Self-Reliant and Independent
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Are you still being waked up by your mother every morning to eat breakfast? Do you still ask your husband to put the gallon of water on the dispenser?Do you still call for a computer technician to reformat your hard-drive?These are simple tasks that you can do on your own but you are too used of having someone do it for you.What will you do if one day your mom is already gone, or your husband left you, or you can’t fix your PC because there’s no technician in sight?
Self-reliance is one basic human survival skill most of us living in this modern world have already forgotten.We become more and more reliant on modern technology which becomes a great disadvantage in times of calamities and emergencies.Just imagine how you can live without electricity.
Relying on myself is something that I’ve been practicing for almost a year now.I don’t need anyone to put a gallon of water for me on top of the dispenser.I can fix minor plumbing problems.I can carry a bicycle by myself up to the 2nd floor.I cook my own meals.I pay the monthly bills on my own.I can fix my PC any time.I can carry big pails of water.These things might be mundane and ordinary, but I’m proud I can do them all by myself.
To Be Debt-Free and Achieve Financial Freedom
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Most of us Filipinos are willing to do anything just to make an impression especially during fiestas, birthdays, wedding, and any kind of parties to the point of burying ourselves in debts.Our hospitality is taking a toll on us as we are already spending beyond our means.This often results to financial instability and prods others to take on more debts to cover their other debts.This is definitely a very sad situation.
My goal is to live a debt-free life and become more financially stable before I reach 40.I don’t want to become one of those middle-aged people who are still struggling financially and are still living paycheck to paycheck.I want to enjoy my retirement years in peace, living in a small farm, feeding my chickens and goats, planting flowers and veggies…
Lastly, I don’t want to become one of those Filipino parents who are very dependent to their children. I don’t want to become a burden to anyone, especially to my future children.I think this tradition of Filipino parents being very reliant to their off springs has in some other ways hinder them (children) to enjoy life during their younger years.
So, can you see yourself living frugally? Share your struggles and experiences by commenting below.