Frugal by Necessity, Then by Choice

When Natasha Smith was growing up, she learned the importance of being frugal. Her dad taught her about being thrifty, including the art of buying things secondhand to save money. When her father died, she watched her mother keep the family afloat by working multiple jobs. Smith made a decision: “I never wanted to be financially dependent on anyone or struggling to make ends meet,” she says.

Smith, 34, has spent her adult life working toward independence and learning as much about money as possible. Though she wishes she’d learned more money basics—such as how credit scores are calculated—at an earlier age, she loves that so much information is now available online.

When she moved to Philadelphia to go to college, she was hopeful that the need to take out student loans would be offset by the higher-paying jobs she could get with a degree. Yet even with the relatively low cost of living in Philly, Smith has since struggled to keep up with her loan payments.

She worked as a preschool teacher for seven years after college. The work was rewarding, but she often had to work a second—or even third—job to pay her bills. She has since put together a plan for paying down her debt, which can be overwhelming. “Sometimes it still feels like I will never be free from debt,” Smith says.

When a position opened up at the Free Library of Philadelphia last year, Smith jumped at the opportunity. Her role still involves working with young children, but the library also pays her enough that she can now make her student loan payments and comfortably save money. It’s the first time since college that she’s been able to do both.

With some money in savings and her current job added to her resumé, Smith is hopeful that she won’t have to make the same sacrifices she’s made in the past. “I took the library job as part of a long-term strategy, knowing that I’d be more qualified for other higher-paying jobs after this one,” she says.

Smith feels that she’s finally financially stable, despite the fact that she’ll soon need another new job. Her job at the library is funded by a state grant, and when the grant ends in a few months, so will her position. Although she admits the prospect of having to hunt for new work is daunting, Smith is optimistic about her options for continuing her career.

When times are tough financially, Smith says she’s still grateful for the lessons she’s learned—especially those she got from her dad. Thanks to him, she says, “I’m thrifty and put everything I can into savings. And I never want to pay full price for anything.” 

Donna Sellinger is a writer and educator living in Philadelphia. She loves spending time exploring the city’s parks, museums and riverfront. 

Image by Gregory Reid/Gallery Stock.

Read next: When It Comes to Financial Success, Change Starts Within.