The word “frugality” has left a more negative connotation for most people than simply being a saver, a cheapskate and tightwad are descriptions that accompany the word frugal and used to define an individual who is merely trying to save money. There is a thin line difference between saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotations come from.
However, 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 about insults. Keep your head up high. And keep your focus on your savings goals with these tips.
1. Eating Out – Having a little fun 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 to be anything 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 your local church.
7. Buying School Supplies – Stock school supplies at home and do not buy anything fancy.
8. Be content with what you have and try to live within what you earnings (or means).
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.
