Tips To Live a Frugal Life

Tips To Live a Frugal Life
In the current financial state of our country it’s important that we do what we have to, in order to ensure we’re save from any crisis. If you don’t want to be stuck in a hard place when the economy does finally collapse then you need to start preparing now. A lot of jobs have already been lost and many regular day products are escalating in prices. Most of us haven’t seen a financial state such as the one we’re experiencing now and it’s tough for us first timers to prepare for what’s ahead.

Throughout this article we’re going to look at some tips that you can follow to live more frugally. A lot of people have been talking online about living frugally and it’s something more and more people are beginning to adapt into their lives. The whole idea of living frugally is to spend less and therefore save more money. In tough times like these where nothing is a sure investment the best thing you can do is live frugally and just keep your money for a rainy day.

Downsizing

The first tip I can give everyone is downsize your life a little bit. The time of finding cheap financing for everything you want are gone and everyone including banks are being tight with money. You should consider downsizing your current vehicles and house so that you can live more comfortably. Owning a big home and struggling to pay the mortgage is a lot more stressful then downsizing a little bit and knowing your bills are paid each month.

Don’t Waste Money

If you’re strapped for money then you need to stop wasting money on things such as eating out and entertainment. In these times you need to save every penny, you still need to have fun, but there are plenty of things you can do with friends for free. Don’t buy movies, games or anything of that nature as these things aren’t going to help your savings fund.

Don’t Spend Money Online

A lot of people make aimless purchases online and don’t really need to be buying the products their buying. To live frugally you can’t spend money on impulse buys online because you see something you like. If you add up how much you’ve spent the past three years on the internet you’d probably be amazed. For the most part you have nothing to show for it either.

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2 Comments

  • John says:

    Yes, tip #1 downsize. Live simply, beneath means. For those who need still help, I found this site http://www.helppayingutilitybills.com which gave some ways and programs that help save on heating and utility bills. Help is provided both from the gov’t and utility companies themselves. Do you have any other ways to get help?

  • Richard says:

    I’ve been an attorney working in private bank trust departments for almost 20 years. I’ve seen how people with money acquired it and how they retained it. They are smart enough to know that you can never acquire money by spending it. They would sooner die than go into debt to buy consumer goods. They’ll go into debt but only to purchase property likely to appreciate.

    These are the people who, instead of buying iphone after iphone and ipad after ipad, bought the stock of Apple when it was selling for about $7 early in 2003. Today, July 1, 2010, it sells around $260.

    People with money don’t care about consumer goods, cars, big-screen TV’s or anything else that the masses “must have”. They know all this stuff is junk and that to buy it simply wastes money better deployed otherwise. In short, people with money got and kept it not by buying things but by buying the stocks of companies that sell things to other people…you for example.

    I’ll leave you with this unsettling thought. Suppose you’d had $15,000 in October 1980 and that you’d been of a mind to “invest it”. You might have been lured to purchase jewelry, say a diamond ring, on the utterly untrue but long spread lie that diamonds are rare. Any jewelry store would have been happy to lure you in with a lot of special lighting over plush counters served by shills who are trained in how to try to induce you to put reason on hold and think romantically about how happy you would be if only you had a $15,000 diamond ring. They’d tell you it would be “AN INVESTMENT”. God help you if you fell for the scam. The ring you’d have bought on Friday, October 10th, 1980 for $15,000 would have been worth about $3,000 on Saturday, October 11th if you’d tried to sell it. It might not be worth even that today.

    On Friday, October 10th, 1980, stock of Johnson & Johnson traded around $83 per share; you could have bought 180 shares for $15,000. That investment, a REAL INVSTMENT, would today, July 1, 2010, be worth over $500,000. After 48:1 stock splits, you would have over 8,600 shares of Johnson & Johnson paying annual cash dividends of almost $19,000.

    You can be young in this country and be without money but this is no country in which to be old and without money. If you have no money you have no power. If you want to end up parking cars for a high school kid who owns a parking lot, keep doing what you’ve been doing. Keep buying “diamond rings”. If you want to have some say about where and how you live and on what terms, leave the consumer goods on the shelves and buy the stocks of companies that sell things to other people. Just make sure you’re not the “other person”..

    Good luck.

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