"A Thrifty Man Is A Free Man"  Advice from my fortune cookie March 1982

Good advice during these strange and troubling economic times.  Good advice anytime and way cheaper than a fortune teller (unless of course, the fortune teller is your crazy aunt Zelda).

The October 20^th edition of Business Week offered up a timely article entitled, "The New Age of Frugality" by Steve Hamm.  It discusses the tightening of spending by Americans with our contracting economy.  Many people are getting a crash course on saving right now.  Now this may suck if you are a spender, it's good for self-discipline, a good motivation for correcting bad habits, and can maybe heighten our appreciation for things we took and take for granted.   This article may help you out if you feel all alone in this new world or if you are looking for ways to save. 

I'm a guy who believes there's no end to a tube of toothpaste.  I think finding ways to save may be part of my DNA.  So for me, Health Savings Accounts make sense and I'll bet early adopters of HSAs share that same mentality. 

 "HSA" does have the word "Savings" in it, which is to a thrifty person as the strip is to a gambler in Vegas.

HSAs are not just about putting money aside for a rainy day.  There is far more to them than that.  They create tax advantages three different ways.  They're tied to high deductible health plans which involve lower premiums which means you get to keep more of your own money.  Because HSA account holders have greater financial responsibility for their own healthcare they can motivate them to be more motivated about their health both in terms of how they shop for healthcare and how they take care of themselves.

So, anyone who has taken the initiative to learn about HSAs already has a savings mindset, and anyone directed to an health savings account by their employer has a great opportunity and a tool to develop a savings mindset.   Adopt a savings mindset, with your healthcare and with your life and it will help pilot you through these challenging economic times.