The Homemakers Magazine

One way to describe frugal living is to live below your means, another eloquent term is this: Voluntary Simplicity. This may sound like a monumental task, especially in our present economical climate where many people are hardly covering their basic expenses. Finding ways to save takes a bit of creative thinking and a willingness to try new things. Once you learn how to be frugal, you will end up spending less money on things you don’t really need.

Simple money saving methods involve being aware of your spending in the first place and then planning ahead so that you spend less in the future. Some people who are married with children don’t ever talk about meal planning, saving for emergencies, etc. A lot of people sadly live paycheck to paycheck and don’t even know what an emergency fund is.

It is easy to practice frugal cooking once you acquire the knack of menu planning. Sit down and write a list of menus for the coming week. Don’t forget to include snacks and drinks. Compile a full list of the ingredients you will need and check this list against items you already have in your fridge and cupboards. If you create menus that use similar ingredients, you will spend less on specialty items that you may never use again. Take your final list to the supermarket and buy only those ingredients on the list. It might be ok to substitute a lower priced or special sale as long as it does not mean you have to purchase more items.  But, generally speaking, it is best to avoid temptation by sticking tight to your list. Bargains are only bargains if they are something you really need and will use immediately.

Frugal living methods are similar to green living practices. Re-using things, striving for a lack of waste and reducing reliance on cars are all things that result in benefits for the earth as well as for your monthly budget. A new energy saving appliance or household tune-up can save cash on bills over time, even amounting to hundreds of dollars each year. For example: if every home in America replaced only one 50-cent bulb with a $3 energy star-certified one, the difference would be a staggering $600 million over a year, or around $40 per home. The average home probably has more than 2 dozen light bulbs and while it might be a bit of a stretch to replace them all at once, if you multiply that $40 savings by 24, you could save around $960 the first year.  Little things add up to big savings.

It is easy to see where people could go overboard with the idea of living on less (Dumpster diving? Ever heard of “freeganism”?). But, there’s a vast difference between just committing to a lifestyle and actually going off the deep end. Many people enjoy the idea of frugal living and do it for the freedom, not simply to impose boundaries and create a nightmare of headaches. The idea is to find a balance that makes you happy while still providing for your family. For example, skimping on cleaning supplies may save cash, but does it keep your children safe?

Be willing to ask for discounts. You can often save money – even hundreds of dollars – by making a simple phone call to your Internet provider, cable company or credit card account. Ask the provider to give you the low introductory rate your new neighbor has, or you saw advertised. They want to keep your business and most of the time they will give you a lower rate. I recently got a discount from my Internet provider by calling to cancel my service because the price had doubled when the introductory rate ended. When they asked why I was canceling, I quoted a better price from a competitor and my desire to switch in order to get that price. That call saved me $150 over six months. When my cable was down for three days after a storm, I had another $15 taken off my month’s bill, but only by calling and asking for the reduction. Ask your credit card company for a lower interest rate or for a refund of late charges or fees, especially if you normally pay on time. Companies will not offer these discounts, but employees are authorized to give them when asked. So….ASK!!!

Those who are into frugal living practice certain habits that help them benefit from the money-saving opportunities in life. Below I have listed six of the top habits for living frugally.  Learning and incorporating these habits can help you enjoy living frugally.

1. The best frugal shopper always studies other people. There is always someone you know who lives a great life on half the money you make. When you take the time to learn how they do things, you will find yourself with a lot more options for living frugally.

2. They understand the values associated with frugality. You must educate yourself on what a good deal actually is if you ever hope to get one. Take the time to learn as much as you can about local prices. When something is going to cost a lot, it is a good idea to know both the upper and lower price ranges.

3. Frugal shoppers always pay in cash. Cash always costs less than credit. Want a new television? Divide the price by the number of weeks you can wait to buy it and the result is the amount you need to save each week. You will save on finance charges and interest and sometimes, you can get a further discount for paying cash, you just have to ask. It is acceptable to make a lower offer, even in box stores.

4. Living frugally means being open to  alternative options. A discounted trip to Hawaii will be just as much fun as the full price cruise to the Bahamas. Food does not have to be expensive to taste good, a pizza can be as good as a gourmet meal when you count the cost.

5. Frugal shoppers talk to those around them about their needs. You never know when the person you are talking to has just the thing you need and is flat out itching to give it away.

6. Frugal shoppers understand the math. Thre is no $400 savings on a new car if it costs you $500 extra in gas every year. Another thing that seems crazy is that stores are betting you will thing bigger is cheaper. Sometimes four quarts of pickles is actually cheaper than a gallon. Paying attention to the numbers can help you practice living frugally.