Frugal Living

1.  The main goal is to spend less than you earn.  Your income must be greater than your expenditures.  Cut the fat.  Cut unnecessary expenses and purchases.   Be “in the black” with every paycheck you earn.  Every week, every pay period.

2.  Never pay retail.  That’s right.  Never pay retail.  Look for sales.  Learn to barter.  Learn to dicker.  Use coupons.  Ask for discounts.  Buy used.

3.  Buy only what you need – not what you want.  In our society “wants” and “needs” mean the same thing, but when it comes to saving money they are polar opposites.

Your basic needs are food, water, shelter, and transportation.  You need these things to survive.  But take a closer look at these basic needs.  Just because you need food doesn’t mean you need to eat out all the time.  Dine at home instead.  You can make a large meal (and healthier) for pennies on the dollar compared to eating in restaurants.

4.  Save money.  Pay yourself with every paycheck.  If you have budgeted money to make a car payment or other bills, then you can set aside money in your budget to pay yourself.

5.  Plant a garden.  There are few things more satisfying than planting, cultivating, and harvesting a garden.  Besides, raising your own food saves a little money and is healthier than what you can buy.  Guaranteed. 

6. Be healthy and live a healthy lifestyle.  Nothing can send you into a downward financial spiral like medical bills, planned or unplanned.  Maintaining a healthy body through healthy living is essential.  Do everything in your power to be healthy and you can save hundreds (and thousands) of dollars in medical bills each year.

7.  Do it yourself.  DIY has become an acronym for those brave hearts who take on and complete projects themselves.  You Tube is one of the greatest learning tools available today.  If you have the skill set and willingness to learn, you can complete almost any project yourself and save a lot of money doing it.  Gardening, for example, can be counted as a DIY project.

By completing projects yourself, you will save money.  You can paint the house, sew curtains, refinish furniture that you picked up at a garage sale, build a fence, re-work clothing, and repair equipment – the list of DIY projects is endless.