So how does one live more frugally?
You simply cut back on a few of the extras and make smarter money choices. For example today my family and I are hanging out at home enjoying some much needed downtime instead of out spending money on entertainment.
We could be out at the local amusement center spending money on entertainment, food, travel and etc. But instead we are being more frugal hanging out having nerf gun wars, building forts, reading books and grilling on the barbecue. Honestly in the bigger scope of things I would choose option two even if I had extra money. Frugal family time rocks.
7 Tips For Frugal Success:
1. Stop worrying about what everyone else thinks.
We live in a world dominated by social media and brands. An economy and marketing that drives our teenagers to want expensive brands to impress their friends. Really in the end who wins? The company you bought the merchandise off of because the fad will fade in a week and you will buy more.
Stop comparing your life to others and get your children involved in this thinking. You should be content with what you have and who you are. You will have frugal success if you live for what you think, your ideals and goals, not someone else.
2. Know the difference between a want and a need.
Bring it back to basics. Everyone knows the difference between a want and a need. You need food, shelter, water and clothing. You want pizza, that really cute black dress and a summer holiday. I know this tip kinda breaks the bubble. I am not saying you can’t save for that holiday or those great shoes you saw in the window. Just know the difference, provide for your needs and save for your wants.
3. Get the family involved.
You will be more frugally successful if you have your family involved. Include your kids in on a mini budget meeting. Involve the family in the meal planning. When your family knows what works with the budget and what doesn’t you are more likely to succeed.
4. Choose what is right for you.
Set some frugal financial goals and know what you want. Write them down. You are more likely to succeed if you write your goals down and break them down into manageable steps. If you are looking to save $1000 this month, write down how you want to do it. It is possible once you know what you want.
5. You need a budget even if it is just on paper.
I know, you say the budget word and everyone can think of something else they would rather be doing. You will have a better chance of frugal and personal financial success if you have a budget. It only takes a few minutes and honestly you will be happier once you put some numbers down on paper and know how hard your money is working for you.
6. Think before you leap, or even sleep on it.
Yes, that shiny new (blank) looks really good and the price is amazing but, can you afford it? Think before you jump in and make any big purchases. Have a family meeting. Sleep on the idea, weigh all your options, get a second opinion. Is there a better frugal choice?
7. The shininess will wearoff, invest wisely.
If we all had unlimited bank accounts and the world was our oyster we could go buy all the fancy cars and the homes we would like. But we are talking about being frugally successful so… If you would like that new shiny car know that you lose 10% in value the moment you drive it off the lot. There is nothing wrong with investing in used more frugal options. Invest in something that will provide you value long term.
Other frugal living, money saving posts you may like:
- 7 Ways To Go Green & Save Money
- 101 Money Saving Frugal Uses
- Start Saving Money On Your Household Expenses
Success means different things to different people. What might mean success to you is entirely different to the neighbor down the block or to your friends. To be frugally successful you need to know what is right for you and your family. Choose to live well on less and save money for the things that mean the most.
Have an amazing day,
Saving & Simplicity