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Frugal Living – The Real Key

admin — Mon, 08 Mar 2010 03:28:52 +0000

Frugal living isn’t just about clipping coupons and shopping sales. There is a key that many cheapskates miss.

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When you think of frugal living, do you think it means being miserable, or giving up what you want? If so, you are thinking about it all wrong. Frugality is simply the practice of looking for the less expensive alternatives. Buy things for less, and what do you get? More money left over to buy more of what you want! Frugality doesn’t have to mean being a scrooge or living without comfort.

However, maybe you don’t like the idea of clipping coupons and buying clothes at rummage sales. If so, that’s okay. It never was and never will be the important part of truly frugal living. For it to be the most beneficial, frugality has to start with the big things, and if it never gets down to the small items, you’ll still be further ahead financially than most people.

Frugal Living Examples

Example number one: Search the Sunday paper for coupons and clip them out. Make a list of things on sale that you can stock up on in order to get your average cost down. Plan and run a route of four stores in order to get everything where it is the cheapest. Total extra time spent: three hours.

Example number two: Sit with a pen and paper and determine what you really need in your new house to be happy. List the cheapest homes that meet your criteria. Make several extra phone calls and check out several bank websites to get the interest rate down to 6.25% from the 6.75% you were expecting to pay. Total extra time spent: three hours.

In the first example, let’s assume you save $30 on your groceries for your effort. Your frugality made you about $10 per hour. In the second example, suppose you found a suitable home for $20,000 less. Let’s say you only have to borrow $120,000 at 6.25% instead of $140,000 at 6.75%. Your payment would be $169 less per month, for a total savings of $60,900 over the thirty years of the mortgage. In this case, your frugality made you about $20,000 per hour.

I think you can see that it is the big stuff that makes a difference in frugal living. On the other hand, sometimes the small stuff is the big stuff, especially when it is repeated over and over. This is why it makes sense to save money on groceries. They are something you buy every week. How you do it makes a difference though.

For example, suppose you don’t want to clip coupons or spend time looking at sales flyers. Let’s face it; if it only saves you $10 per hour of effort, you might be better off staying a few hours extra at work and skip the hassle. On the other hand, why not invest just an hour or two to figure out which store is cheapest for the things you buy? Then shop only there, and buy more of the things you use and like when they are on sale. You might still save $20 per week, with no additional investment of time. That’s a $1,000 per year!

Have you read newsletters and magazines about saving money? They often have tips on things like how to re-use plastic wrap or aluminum foil. Is it worth the time to wash out and dry your ziplock bags? Maybe, if you like that sort of thing, and you are making minimum wage. For most of us, it is better to spend the time analyzing the big and the recurring expenditures. That is the key to frugal living.

Steve Gillman studies money. To learn more unusual ways to make and save money, and how you can get free e-courses and e-books, visit his website: http://www.UnusualWaysToMakeMoney.com

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Four Psychological Advantages of Frugality

admin — Wed, 09 Dec 2009 16:17:36 +0000

Poverty has few benefits other than awakening personal ambitions and making people realistic about how the world works. Those are things, of course, that can be learned in many different ways without having to experience deprivation. On the other hand, whatever your level of income, frugality constitutes a choice of permanent value. Contemporary society does not promote temperance and thrift. The story is seldom told of how present prosperity is the consequence of previous savings and investment. The law of cause and effect governs supreme the affairs of the world. Nothing escapes its reach, no one circumvents its application. The same principle that brings perspective to centuries shapes the microcosm of daily life. What you do today builds tomorrow’s structure and level of pay. In addition to economic returns, frugality brings about substantial psychological advantages to the individual. Stress and anxiety remain foreign to the parsimonious. Discouragement and fear stay away from the house of the austere. If you live this way, these are some blessings to expect: 1. – PEACE OF MIND. Worries do not keep awake at night those who live their days with measure. Leading a simple life spares man the effort of following the latest fashions. By quickly dismissing artificial alternatives as inappropriate, we are left with the fundamental. Serenity is the result of simplification. 2. – FAST AND CONSISTENT DECISIONS. Trusting your own judgment more than external opinion allows your skills to grow through success and mistakes. Stable values and sharp priorities are the prerequisite of frugality. Decisiveness is the will to recognize and reject the drawbacks of inconsistency. 3. – RISK REDUCTION. A judicious man should protect himself when at risk, but is it not wiser to avoid danger in the first place? The tension of making daily complex choices can wear out the most balanced mind. Adopting simple ways of doing things reduces errors of oversight. Shunning unnecessary costs keeps exposure to chaos low. 4. – MORE ENJOYMENT OF LIFE. Ignoring the noise of the world liberates time and other resources. Priorities lose their meaning in overgrown agendas. Frugality enables man to breathe free of encumbrances and focus his efforts on the basics. Happiness is not the result of cumulating random tasks, but of concentration on projects that make a difference. Leading a simple life allows man to accumulate wealth and the peace of mind that comes with it. The material advantages of frugality go hand in hand with its psychological benefits. Discarding the unnecessary lets individuals pay attention to the crucial elements of a good life. Making wise choices starts with the realization that most things don’t count. JOHN VESPASIAN writes about rational living. He has resided in New York, Madrid, Paris, and Munich. His stories reflect the values of entrepreneurship, tolerance, and self-reliance. See John Vespasian’s blog about rational living. http://johnvespasian. blogspot. com/

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Save money on Gifts, Bake Holiday Eggnog Bread – Fruit Cake with a twist

admin — Wed, 09 Dec 2009 16:17:31 +0000

The Frugal Gourmet Celebrates Christmas Jeff Smith.

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. The recipe is going out tonight in our monthly newsletter. If you are not signed up, go to: www.eatgrains.com and maybe you’ll be in time to get it. If not, you’ll enjoy a free recipe each month and we can forward you this one that you missed! Great tasty bread for the holidays. Not your usual fruit cake. … “bread machine” frugal christmas holiday baking “fruit cake” gift “home made” “whole wheat” “fresh mill” grain organic sugar creanberries dates eggnog Hanukkah Chanukah “save money …

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Fabulously Frugal Auctions–

admin — Wed, 09 Dec 2009 16:17:30 +0000

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NEW Fabulously Frugal Feasts Vol 1

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Frugal Meaning Auctions–

admin — Wed, 09 Dec 2009 16:17:29 +0000

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Frugal Food Auctions–

admin — Wed, 09 Dec 2009 16:17:28 +0000

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Almost Frugal Auctions–

admin — Wed, 09 Dec 2009 16:17:27 +0000

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Is it embarrassing to be frugal if you are wealthy?

admin — Wed, 09 Dec 2009 16:17:25 +0000

..There’s a woman who my colleagues always b*tch about. She’s some rich lawyer, but drives a small Hyundai.
My question is, will people look down on you for not showing off your wealth? Is it wrong to be frugal? If one is frugal despite being rich, is it wealthy?

The Frugal Gourmet Celebrates Christmas, Jeff Smith, Go

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