A Frugal Lifestyle

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A Frugal Lifestyle

Frugality is an old fashioned word, which is gaining new relevance in today’s over consuming society. The old fashion meaning of the word meant to abstain or go without, but today it means living a simpler less wasteful life within our personal finances

The word “frugality” has left a more negative connotation for most people than simply being a saver, a cheapskate or tightwad. There is a thin line difference to saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotation comes from.

But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong.

If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips.

1. Eating Out – Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.

2. Clothing – Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.

3. Own Home – If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.

4. Buying Your Own Car – Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.

5. Shopping for Groceries – As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.

6. Family Out – There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.

7. Buying School Supplies – Stock school supplies at home and do not buy anything fancy.

8. Be contented with what you have and try to live within what you earn.

9. Plan your Child’s College Education – Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and “on campus jobs”.

10. Be Aware of your Financial Limitations

11. Anticipate your Failures by Planning – Have always a budget plan so you would avoid impulsive buying.

State senators to weigh citizen tips for cheaper ... - Columbia Daily Tribune

16 Mar 2010 at 2:31pm
JEFFERSON CITY ? In an unusual development in the face of the state?s budget problems on Tuesday, the state Senate has scheduled a special workday next week to assess more than 500 money-saving ideas submitted by average Missourians. ?Missouri ...

County sharpening budget pencils - Rapid City Journal

16 Mar 2010 at 2:02pm
... suggested that if the county decided to cut some non-mandated services for 2011, it could begin those cuts yet this year, saving some additional money. Although the commission won't take a vote on budget items for months, most of the ...

Broken Budget Process? - KELOLAND TV

15 Mar 2010 at 8:08pm
But the chair of the Joint Appropriations Committee, who has the job of putting together the budget, says the process of spending and saving taxpayer money takes time. "People get frustrated with that but that's just how it works out.

Gov. Chris Christie's N.J. budget plan key points - Bridgeton News

16 Mar 2010 at 2:31pm
Chris Christie's administration publicly unveiled details of his budget proposal today. Here's a breakdown of how they want to spend $29.3 billion in taxpayer money, described ... federal income tax credit to 20 percent, saving $45 million.

James: Rob Ford looks set for mayoral run - Toronto Star

16 Mar 2010 at 2:02pm
Would a Mayor Ford impose huge budget cuts? "Cuts? It's not cutting. It's saving taxpayers' money and putting more money in their pockets." Where would he start? He'd post the expenses of city bureaucrats on the web, much like those of councillors.

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family, Planning, rent

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September 05 2008 10:00 pm | Money Management

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