My family began living frugal about 5 years ago and we have saved ourselves so much money and gained so much joy from the process. It’s about making choices, every time you get your wallet out. Want to live the frugal life? Try going a week without buying anything. Try to pay bills that are due and buy prescription medication ahead of time. Don’t stockpile food or anything else. Fix meals from what’s on hand. Stretch the gas in your tank by telecommuting, carpooling, biking, walking or taking public transportation. For fun, play board games or read a book. When the week’s over, use any money you saved to pay down debts, or put it in savings.
Here are some other frugal living tips:
- Make it hard to buy things- Force yourself to pay in cash rather than on credit.
- Plant trees around your house- The additional shade will decrease your energy use, and trees increase the value of your house. We have one huge tree in our backyard that shades our entire 1/3 acre lot. In the summer, our backyard is at least 15 degrees cooler than the front. The shade also covers our house.
- When it comes to gifts, think “free”- Instead of buying your kids or grandkids more stuff, take them for a day at the beach. The memories will last much longer than a gift.
- Find a way to save every day.
- Start an automatic savings plan.
- Find a way to increase your income- Sell your stuff on eBay or Craigslist, and you’ll simplify your life as well as bring in extra income.
- Be a bargain hunter.
Learning to trim your spending will free you to build a savings safety net and to accumulate long-term financial stability. Want more tips? There will be a free Money Management Class on Wednesday, September 18th at 6:30 at Olivet Christian Church in Newport News. Feel free to email me for more information on the class at [email protected]
