“Are you seriously putting that back? It’s only $10!” This is something I hear often and I know my friends think I’m weird for doing it. Sure, this time it’s only $10, but those purchases start to add up…fast. However, hearing this from my friends did make me wonder about my overall money habits compared to others. So, I started talking to people about money. Here are a few things I found out:

  • They didn’t have a clear picture of where their money was going.

  • They had no plan for any of their purchases.

  • They didn’t make saving and investing a priority.

  • They never questioned the price of anything.


It didn't stop there though. When I was talking to those who have been financially successful, this is what I was hearing:

  • They didn't know what options they had for their money.

  • They weren't having money conversations with their children.

  • They wanted their children to have everything they didn't, which can lead to entitlement.


I couldn’t believe it. I'm what someone would classify as 2nd gen wealth. Discussions around money were common and learning how to manage it started early in life. I thought the way I approached money – planning, preparing, budgeting, investing - was the standard.


70% of generational wealth is lost by the 2nd generation and 90% by the third1. That means that if you're not prepared, everything you've worked for could be gone by the time your children or grandchildren are adults. That's a scary thought and I want to stop it. 


That’s when the idea for Frugal Frances was born. Having a good grasp on your finances makes managing the other aspects of your life easier and reduces stress. You can find money advice in my blog posts and follow me on Instagram and Twitter. Thanks for visiting Frugal Frances!

© 2023 Frugal Frances. Frugal Frances is not a Financial Advisor nor an attorney. This site is for educational purposes only.