Frugal Living | Budgeting | Debt Snowball | Simple Living

People are always trying to save money, especially with today’s economy and housing crisis. No matter what your reason for saving, hopefully this will encourage you to discover ways you haven’t considered.

The price of everything is going up, sometimes on a daily basis, requiring people to be more conscientious about money. The problem is that by the time the mortgage, car, utilities, and credit cards are paid, there is little money to put aside. Saving money is not that hard, just a matter of learning all the different options and being creative.

In addition to the obvious of putting money into a retirement fund or savings account, there are hundreds of ways to save money. Although some ways of saving may not seem like much, once you add them up at the end of the year, you will see how substantial the savings really are. Keep in mind that saving is more than a single lump sum of money put aside. Saving is something found in your everyday life by the way you live and the frugal choices you make.

Rome was not built in a day and your bank account won’t be either. Each penny saved is one more penny than before. If you have the ability to save big, that is great. However, most people are not in that position, which is why I hope to show you how little savings can add up quickly.

Be encouraged that it is never too late to start saving, regardless of your age. Set your mind that now is the time to start building your future.

Over the next several days, I’ll be sharing simple and creative tips to get you on the right path.

1. Clearance

Always head straight for the clearance rack where you can find amazing bargains. Sometimes you may have to dig a little to find the right item but the savings will be well worth your time. Most clearance racks offer variety, current trends, and great value. For example, Bed, Bath & Beyond has a clearance section where you can find all kinds of wonderful household items for a fraction of the original cost.

2. Thrift / Surplus Stores

Unfortunately, thrift and surplus stores have been given a bad rap. Many of these stores are filled with hundreds of top quality items. Name brand merchandise is easy to find but just like clearance racks, it takes some time to rummage trhough. Find a thrift or surplus store close to where you live and then plan spending some time to find those outstanding bargains. A woman I know in Kansas City located such a store about 20 minutes from her home. After shopping through every isle over the period of two hours, she walked out of the store with eight huge garbage bags filled to the brim with designer clothes for her and her children, many with the original tags still attached. She even found a couple of Liz Claiborne suits for herself at $5.99 each and a Dooney & Burke purse normally valued at $225 for $19.95. Her children had an entire season of school clothes and best of all, she paid less than $200.

3. Reuse

When you shop, look for items that can be reused. Rechargeable batteries are a perfect example. Even though the initial purchase may be more than non-rechargeable batteries, there is a definite savings over a long period. Another option would be to purchase a nice artificial Christmas tree. Many of the current artificial trees look amazingly real and with the right lights and ornaments, you can change the look from year to year.

4. Landscaping

If you are considering creating a nice flower garden area, shopping for plants even on sale, can be expensive. Before you go out and start spending, look around to see if you have other plants that can be split from your existing flowers. Additionally, if you have a good relationship with any of your neighbors, you might ask them if they have any plants you could use as a starter. About 8 years ago my neighbor was planning a new back patio in an area where she had the most fantastic heirloom Irises you can imagine. I asked her if she was going to replant them and when she said no, she couldn’t be bothered, I jumped all over it. Now I have a front flower bed that visitors ‘ooh and awe’ over and it was completely free! Frugal Living at its best.

Another great idea is the next time you are in the market to buy a lawnmower, purchase one that mulches leaves. This way, rather than buy mulch for your flowerbeds every year, you can simply use the mulch you make. And to be even more "earth-friendly" consider purchasing an electric or battery powered mower. The way the price of gas is going, it will pay for itself in a couple of years.

5. Budget

Everyone should create a budget. If you are not sure how or just not good with money, many businesses such as H&R Block, offer free financial consulting to help you put a budget together. Knowing where you are spending your money is by far the best way to save. In most cases, people have no idea where their money is really going and once they see it on paper, not only are they surprised but eager to change their spending habits. There are also many free online Budget websites and free software sites for setting up a home budget.

6. Plan

Planning is a great way to save. Before you go to the grocery store, make a list and stick with it. If considering a vacation, plan everything. Heading out with no set direction will certainly lead you to impulsive spending.

7. Buy in Bulk

It is true that warehouse shopping can save a lot of money. Even if you have a small family, you can always split large quantities. The price of items in bulk is generally a great bargain. If you are single, you might go in with friends or family on bulk items. However, if it is an item that you may not use up in 15 years, then it is not a bargain, no matter how cheap (unless of course it’s free).

8. Allowance

Do not forget to give yourself an allowance for things you enjoy. Even if on a tight budget, buy something that you enjoy, which could be as simple as buying a new shirt or grabbing lunch at your favorite café. If you do not allow yourself this small “splurge”, you could find yourself in the same position as if dieting. Total deprivation leads to overindulgence.

I hope some of these suggestions will spur you on to begin your journey of Frugal Living.

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