MAKE FRUGAL LIFESTYLE ENJOYABLE

Shopping? A must, necessity or needs?

How does a stingy or cheapskate shops? Some would say frugal, which sounds much more positive, but in reality it can be a real cheapskate.

Some people can be fairly frugal (though not always), but sometimes they take it too far. If you have T-shirts with holes in them, you never buy new clothes, we are shopping for a new couch because our current one has holes in it, but a frugal person will run their current pair of running shoes until the holes fell off.

However, you can gradually learned to be frugal in many ways. Even if you have holes in your couch, and you should definitely replace your running shoes more often but there are many ways to cut back on spending and live a more frugal lifestyle while enjoying it.

Why live frugally? First, because it allows you to spend less than you earn, and use the difference to pay off debt, save or invest. Or all three. Second, because the less you spend, the less you need to earn. And that means you can choose to work less, or work more but retire early. Or take mini retirements. You have more options with a frugal lifestyle.

Some may comment that you will have no life. It is boring. You might as well live in a box. You have to enjoy life sometimes.

So, if you’d like some tips on frugal living, here are just a few, from a cheapskate;

Go with one car. Many families have two or more cars. Besides your house, your car is probably your most expensive item. If you can do with one, you should. 

Go with a smaller house. Just because you can afford a larger house, doesn’t mean you should live in one. Live in as small a house as you can and still be comfortable. It doesn’t mean you should live in a one-room apartment with a family of four. You can save thousands a year with a smaller house. Many times, if you get rid of a lot of clutter, you don’t need a large house.

Go with a smaller car. Again, you can save thousands by going with a smaller car instead of an SUV, for example, its a big savings. Be comfortable, but don’t overdo it. You’ll save a lot on gas this way too.

Rent rather than own. This will probably spark a huge debate, as it always does. The thing is, just don’t assume that buying is the better investment. If you calculate the interest you pay on a mortgage, the cost of insurance and maintenance, buying is often much more costly than renting … and if you rent, save money, and then invest the difference, you can actually end up well ahead in the long run. Now, it’s not a given, so do a comparison, factoring in all expenses. 

Look for used first. If you need something — I mean really need it, not just want it — see if someone you know has one that they don’t use or need anymore. Send out an email to family or friends, or just ask around. You might be surprised. Then look to buy used, at garage sales or thrift shops. You can find a bargain if you look around.

Eat out less. One of the biggest expenses in our daily lives is eating out. Restaurants are expensive, including fast-food (not to mention the health hazards). It’s much cheaper to cook your own food. 

Adopt a minimalist wardrobe. This tip won’t be for everybody, but try for a minimalist wardrobe. You can generally wear jeans or casual pants, a T-shirt or Polo-type shirt, and sandals or shoes. Everything goes with everything else. This saves you the stress of picking out an outfit, and you don’t need as many clothes.

Stop online impulse buys. Online buying can be way too easy (you don’t even have to go to a store) and therefore, we make too many impulse buys. Buy online if you really need something and it’ll save you money, but beware the impulse buy.

Don’t shop. Don’t go to the mall or other shopping area or department store to look around and shop. Go to a store if you know what you need, and then get out. Many times people go shopping, with a vague idea of what they want, and get caught up buying much more. Or they go just for fun, as a form of entertainment. That ends up costing a lot. It can really add up. Instead, stay away from shopping areas and find other ways to have fun.

Find free entertainment. Find cheap ways to have fun. Entertainment often ends up costing a lot of money, if you go to the movies, buy concessions, or go out at night. Not that you shouldn’t have fun … but there are cheaper ways to do it. 

Frugal exercise. Exercise is important, but it doesn’t have to cost a lot of money. Staying healthy can save you tons of money on doctor’s visits, hospital bills, and medicine over the long run. An ounce of prevention, and all that. Eat healthily, and exercise. Simple and effective.

Carpool or ride the bus or take public transportation. Simple advice, but something a lot of people ignore.

Walk. Often we drive to the corner store, or to a school that’s less than a mile away. Leave a few minutes early, walk, burn some calories, and save gas.

Sell your clutter. This is not so much saving money as making it, but the frugal, simplifying cheapskate will want to declutter and make a few bucks doing it. Hold a garage sale or sell it on eBay. It’s amazing what some people will buy. 

Frugal gifting. Gifts can cost a lot of money over the course of a year. Look for ways to do it cheaply. Make a gift, or give a consummable. Getting and giving cookies, for example.

Quit smoking. Not the easiest way to save. Not only will you save on cigarettes (which are expensive over the long run), but also associated costs such as the huge, long-term medical costs. 

Sweets in moderation. Desserts and sweet snacks give us lots of calories with no nutrition. And we pay a premium price for that, in dollars and in our deteriorating health. Cut back on sweets (don’t eliminate them entirely of course) to save money and cut calories.

The Drink water habit. Often we drink lots of calories through sodas, coffee, alcohol, juices, tea, etc. And that costs a lot too. Drink water, save money, save calories. 

Batch your errands. Instead of running an errand or two every day, batch them into one errand day, and plan your most efficient route, to save gas and time. Also do 

as much bill-paying online as possible, to eliminate some errands.

Stay home. Becoming a homebody might does not sound like a lot of fun, but it really can be. Staying home with family and do all kinds of fun things at home. Or you can spend a day alone, if the family is at school, you can read or watch a good movie. Staying home can save tons, in eating out expenses, shopping expenses, gas, and incidentals.

Stop using credit cards. Credit cards are not evil and they can be used to good purpose. For others, credit cards make buying too easy, and end up making them buy too much.Not only that, but if you don’t pay your bill in full each month, they will cost you a lot in interest.

Cancel subscriptions. With the wealth of information and entertainment online, do you really need magazine subscriptions? With all the news online, do you really need a newspaper subscription? If you can get DVDs for free or cheap, do you really need a subscription? Are they’re really essential? Seriously consider whether they can be canceled without much loss of value. 

Make your own. Many times we buy things when really, we could make them ourselves for much cheaper if we get a little creative. Now, this might take a little more time and effort, but it can be fun, especially if you make it a family project. If you don’t know how to make something, search for it online. You’ll most likely find some instructions.

Do it yourself. Instead of hiring someone to do something, try doing it yourself. Sure, it takes some time and effort, but it’s satisfying, and of course cheaper. It’s also educational, if you don’t know how to do it — again, do an online search, read up on it, and give it a go. Frugality freaks are DIYers.

Stop paying interest. The interest of credit cards, and auto loans, and mortgages would be considered as a waste of money. Consider any other accounts or loans 

where you pay interest, and see if you can eventually eliminate as much of these as possible.

Reduce convenience foods. Frozen foods, microwaveable stuff, junk food … anything that’s packaged and prepared for our convenience is not only more expensive than something you cook yourself, but also most likely less healthy. Just reduce consumption.

Travel frugally. If you do have to travel, some advance planning can save you money. Airfare is most expensive, usually, so look to buy your ticket in advance, and look for deals. Also consider train travel. Shop around for car rental rates, as they can vary greatly (or use public transportation). Look for cheaper accommodations, or stay with a friend or relative. 

Cut the cell phone. This will not be a popular suggestion either. If you don’t like it, move on to the next one. It’s not for everybody. But think about this: 20 years ago, most people didn’t have cell phones. And miraculously, they survived. A cell phone is not a necessity. It’s a convenience. When people needed to make a call, 20 years ago, they either waited until they got to a destination (wait to make a phone call?! omg!), or pulled over and used a pay phone or a phone in a business establishment.

Maintain stuff. This is a no-brainer, but we don’t often think about it: if you take care of what you have, it will last longer. You’ll then spend less on buying new stuff. When you buy something worth maintaining, take a few minutes to read the maintenance manual, and create a maintenance checklist that you can attach to the item. For important things like your car’s oil changes or tune-ups, put them in your calendar.

Only buy bargain clothing (when you need clothes). When you only buy clothes when the old clothes have too many arm or leg holes. But now you really need new clothing. So instead of buying new, look for thrift shops with good clothes. Or buy new, but only buy the stuff that’s 50% off. Look for the bargains, and you’ll save a ton.

Plan ahead. Sure, easy to say, hard to implement. But if you make it a habit to think ahead to things that are coming up in your life, you can save a lot of money. For example, if you think about where you’re going to get your meals when you go out to do errands, you can pack a lunch or dinner instead of eating out. If you pack a big container of iced water, you don’t need to buy expensive bottled water. If you know that a birthday is coming up, you can buy a gift on sale instead of spending more at the last minute.

Cook ahead. If you have one free day a week (or even a month), cook food in big batches and freeze in dinner-sized portions. I don’t do this all the time, but I have done it and it saves money (buying big can often save) as well as time. You have to plan it out a bit, coming up with a menu and shopping, cooking enough meals for a week or a month. But once you’re done, your meals each night (and for lunch if you like) are quick and easy. This saves you from eating out or eating convenience food when you’re hungry but too tired to cook.

Be cheap but not too cheap ...