I grew up in a pretty frugal household. I have always tried to be frugal myself, but after last summer’s gas crunch, 5 months of unemployment, and an economy that delivers nothing but bad news, I have begun to cling to a few rules that help me know how to spend.

1. Make do. Need some new artwork for your walls? Let your family do some painting then matte and frame it! You’ll have a bright, authentic look for your bare walls.
2. Wear it out. Sure your sheets might be a little worn, but they still do their job, right?
3. Do without. This is a hard one in our culture because we believe we are entitled.
4. Be satisfied. View the things in your home as enough. If you are like most of us, we already have too much stuff.
5. Free is good. There is an unfortunate stigma attached to free. Make a list of all the free things to do in your community. Avail yourself of hand-me-downs and Craigslist.

What are your rules for living and spending in this economy?