Do You Have These Frugal Living Habits?

Frugal living requires skills and ways of looking at things that help you take advantage of the money-saving opportunities in life. The truly frugal person makes these into habits. Six of these habits are outlined below. These are techniques that can be learned in a matter of a day or two, and made into new habits a few weeks. Then they will save money for you for the rest of your life.

1. Frugal living requires a knowledge of values. How can you get a great deal on a car if you don’t know what a great deal is. Get in the habit of educating yourself on prices, especially before you’re ready to buy anything that costs a lot. It takes a few hours of looking at listings for sale, for example, to know what homes are selling for in an area, but this is knowledge that can save you thousands.

2. Learn from other people. Most of us know someone who always gets the best deal on cars, boats, homes, or even groceries. Why not ask him or her how they do it! One person will tell you that the cheapest coffee in town is $3 per cup, while another will say 50 cents. Ask the latter about coffee shops. People near you are living a good life on half of what you make. Investigate that. See how others do things, and you’ll know your options.

3. Frugal living means always looking for alternatives. You might have just as much fun taking a discount trip to Mexico as you would going to Jamaica. Maybe you happen to enjoy pizza more than fine French dining. If so, why not skip the expensive restaurant and call Dominoes. This isn’t about sacrificing, but about getting even more of what you really enjoy by paying less for cheaper alternatives that work just as well.

4. Pay cash. What happens when everything you buy costs an additional 20% because of the interest you pay over the years? You can’t buy as much! Everything is cheaper when paid for in cash instead of credit. If you want that new patio set, divide the price by the number of weeks you can wait to get it. Set aside that much each week, and buy it for cash when you have the money. Not only do you save on interest, but you’ll often get a better price when you pay cash.

5. Learn to do the math. Did you really save $400 on that car if it costs you $500 more in gas each year? Did you know that some stores are cashing in on shopper’s assumptions that larger is cheaper? It’s true. That gallon of pickles might actually cost more than four quart jars. Make it a habit to do the math if you want to save money.

6. Tell people what you need. Mention it in conversations. Many people get free or cheap things, just because they talk. For example, a neighbor wanted to upgrade her living room debt, and was thrilled that I would take her three-month-old couch off her hands for $30. I sure am glad that I mentioned I was looking for one. You need to make this little trick a part of your frugal living habits.

About the Author – Steve Gillman has studied unusual ways to make money for thirty years. To learn more, visit his website, Unusual Ways To Make Money.

Evolution of a frugal shopper

I’m going to start with a brief introduction for my first ever blogging attempt – at least, I’ll try to keep it brief.  I’ve been known to ramble on and get a bit sidetracked.

My name is Sue, although I go by “Suzannah” online.  I’m 49 years old, married, and have a 25 year old son who lives clear across the state, making me most definitely an empty-nester.  I work outside the home, full-time.  And, very important to the shopping nature of this blog – for all intents and purposes, I live in an area that does not have double coupons. (I’ve heard there are places that have triple, and occasionally even QUADRUPLE coupons.  I’ll visit you in my dreams, oh enchanted shopping kingdoms.  Quadruple coupons.  I honestly can’t imagine that.)  I think one chain here allows a few double coupons once a week, but they are severely limited, and the loss leaders are usually not anything that there are decent coupons for.

For much of my adult life, my shopping habits paralleled those of my mom.  Decide what we want to eat during the week, buy all the necessary ingredients, buy anything else I may think we need, and buy it all at one store.  That includes dish and laundry soap, paper products, personal care products.  If they happened to be on sale when I needed them – BONUS!  Otherwise, I bought them anyway.  As a result, I remember that back when my son was five years old, I was spending sound $600 a month on all those necessities.

Today, I spend around $250 a month.  Of course, there are only two of us now, not three.  The last year my son lived with us, I spent on average $350 a month.  Strangely enough, he eats even more now than he did when he lived at home, and I probably would be spending $400 a month if he still lived with us.  At least.   Still – isn’t that better than $600 a month (and that was 20 years ago…excuse me a moment while I reflect on prices 20 years ago.  Sigh.)

The difference between what I spend now and what I used to spend is a result of trying to get the lowest possible prices on everything I buy.  There are a lot of ways I do this, which should come out as I blog.  I’m not always successful at getting the lowest price – I’ve made some pretty embarrassing mistakes (it’s annoying to come home after purchasing a package of cocoa mix on sale and realize that I had a dollar off coupon FOR THE SAME BRAND right in my wallet.  Smack me upside the head, that cocoa would have been FREE!)  But I’ve been diligent enough to be very happy with what today’s spending is compared to that of my not so distant past.  I mean – we’re talking between $3000 and $4000 less spent per year!

I’d like to say that I have been banking the difference all these years, and have a huge amount socked away in a special fund, that I can point to and say “Look!  All this money was saved by changing my buying habits.”  I’d like to say that, but it’s not true.  I’m still a frugal work in progress.

By Sue