A Frugal Lifestyle

[Trillionphil]

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.


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[Alexandoy]

When I was still working we used to dine out at least once a week because my wife enjoys dining in classy restaurants especially in the eat all you can restaurant. But when I retired that she goes home by herself so we seldom dine out now. That is a lot of savings on our budget. Even my wife was kind of surprised that she has extra money at the end of the month. That is the budget for dining out. It is funny that my wife said it is better to eat at home because the food is more delicious and appetizing than the regular restaurants. Well, I am grateful for that comment.

 

[Abigael]

One should really avoid too much expenditure and this are very good tips given here. Sometimes back, I used to wish that I could wear designer clothes and shoes. But I came to realise how expensive they are and realised that if I choose to only dress in them, I would go broke each month. Now I am glad that I have found cheaper clothes that have a good taste in trending fashions. I even lost intrest in designer clothes and that has saved me so much money.

 

[Teatea]

Being frugal is very important, I really care less about what people say behind my back concerning my lifestyle. As long as I earn in a legitimate way and I help people around me with the best I can afford, then how I live my life is my business because this same people are the first that will raise an eyebrow if you ask them for help.
Some people waste so much money just so they can please people who don't care about them.

 

[marcusfe]

The major difference between the rich and the poor is their lifestyle. If you see a rich person who became rich through hard labour and entrepreneurship, they always live a very simple lifestyle, not because they can't afford to live large but because they are financially prudent. Majority of those who are poor today actually became so because of their lifestyle of frugality.

 

[IamDozzy]

Frugality is very necessary when one is saving for a goal that has to be achieved one way or the other. Being frugal with finances isn't such a bad thing as long as one isn't being stingy to one's self. If you can cook, I don't see a reason to eat out every time because it's more expensive to eat out than home cooked meal. Ones expenses should be less than the income.