The word “frugal” has a very negative overtone even though its meaning is no difference from that of a cheapskate or a saver.
Frugality carried to the extreme can be ridiculous and this is the reason for the negative overtone.

You cannot go wrong if you follow the principles of frugality and you will reap the benefits of these savings so when you shop you
should keep your head up high.

1. Dining Out – If you dine out with friends every Friday this can add up over a period of time but if you cut back to one Friday a month, this is fine.

2. Buying Clothes – If you are trying to cut spending, buying designer clothes is not something that you should continue to do. You do not need trendy clothes to look current. Just buy pieces of clothing that you can add to your existing wardrobe.

3. Owning a Home – If you are looking for a home to purchase, be practical. You can save considerably if you buy a small home or
try other ways of home ownership like renting to own, or finding other ways of financing your home like through the owner.

4. Buying a Car – Stay clear away from sport cars or sports utility vehicles. If you keep in mind that the purpose of having a vehicle is to transport you to places that you need to go then you will not need flashy vehicles. Also check out the new car warranty  programs.  Another thing to consider is that perhaps you really don’t need to replace your car.

5. Grocery Shopping – Stay away from brand name products.  Buying store brands or other brands will yield considerable savings but you need to compare prices. Use coupons or purchase items on sale.

6. Family Outings – Going to local parks, having picnics or even visiting friends are inexpensive ways to bond with your family.

7. School Supplies – Stock up on school supplies when they go on sale and furthermore do not buy the fancy stuff.

8. Try not to keep up with your neighbours and live within your means.

9. Chldren’s Education – Teach them to be self-supporting by working to build up their college funds. They can also apply for scholarships that might be available to them.

10. Financial Limits – Always know your financial limits.

11. Planning your budget – Sticking to your budget will keep your clear of impulse buying.

Living frugally involves smart shopping and inventive ways of doing things that you and your family will enjoy.

Filed under: How to Live Frugally

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