I have learned over the past few years that there are a lot of things you can live without.
My husband, Alan, has lost his job twice in the last 5 years. Both times the companies were moving out of the country. We were not given any notice either time. Last June, he totaled one of our cars and broke his neck in two places - and was out of work for over 3 months. When he doesnt work, he doesnt get paid. And there is no unemployment when you have an accident.
There are many really good habits formed by going thru these hardships. We dont need to go out to eat. We can make a very tasty meal ourselves for much less. We take our lunch to work. We buy Great Value brand from Walmart and sometimes shop at Aldi's. We dont go to the movies - we rent them. We dont drive new cars. We dont spend on things we dont need. It hasnt kiiled us. And now, we are used to it and continue to live that way - very frugal. We do not do without. We have everything we need. I clip coupons. We buy clothing at 2nd hand stores (and you would never know it). Plus - anything we are no longer using that is still good - we give away. Nothing goes to waste.
My job has been stable - Thank God . We keep all our bills to where I can pay them with my check. We will have our house paid for in 5 years and only have car payments on 1 car.
We have to differentiate between "wants" and "needs".
At first, all of this was difficult. We had to rethink our lifestyle. But it really is OK now. And guess what - we have money in the bank!