The A–Z Guide to Frugal Living

A void impulse buying. — from Think Simple Now — “Don’t you just love the excitement you feel after coming home with a new TV? Driving home in a new car? Opening the box on a new pair of shoes? I sure do. But, from watching the behavior of myself and my friends I’ve found that the new quickly becomes just another item. The excitement of novelty passes quickly.”

B orrow and share. Everyone wins! — from My Dollar Plan — “We borrowed a DVD from a friend instead of renting or buying and had a little snack from our own fridge! Way cheaper than using gas to drive to the theater/rental place, paying for a movie, and paying for a snack.”

C urb your consumerism! — from Billionaire Woman — “Have you ever watched how a child can play with a cardboard box for hours, and leave the toy that came in it by the wayside? How is it that children can enjoy themselves without a lot of “stuff”, but we as adults feel the need to reward ourselves by buying more stuff?”

D on’t let greed and deceit get the best of you. — from The Change Blog — “According to Stephen R. Covey, if you reach an admirable end through the wrong means it will ultimately turn to dust in your hands. I think it is possible to see much of the world’s current financial problems as stemming from people who wrongly believe the ends justify the means. My advice? It is fine to aspire to wealth, but don’t lose sight of the means to accomplishing it.”

E at out less. — from Zen Habits — “One of the biggest expenses in our daily lives is eating out — the average person spends well over $2,000 a year on eating out. Restaurants are expensive, including fast-food (not to mention the health hazards). It’s much cheaper to cook your own food. Our family creates a weekly menu, then we buy the groceries, and cook dinner (and lunch) each evening. Lately I’ve even been prepping it in the morning, so it’s a snap when we get home.”

F ind a better deal and actually SAVE the difference. — from The Wisdom Journal — “Regardless of what they sell, if you’ve switched companies for price reasons, save the difference. Think of phone companies, internet access, cell phones, credit cards, and others.”

G radually prepare yourself for a rainy day. — from Yin vs. Yang — “Even when things are going great, and you feel on top of the world, you must always be prepared for a change. If you take the time and patience to set yourself up properly, then when things do take a turn for the worse, you will be prepared to handle it. If you live above your means, then when the slightest change occurs, you will not be prepared to adapt. Financial flexibility is more important then keeping up with the Jones’.”

H ungry shopping. — from Zen Habits — “Every time that I have spent way more than I expected at the grocery store, it was because I went there hungry. When you shop hungry, everything looks good and you want to buy everything. After you get home and eat, you’ll probably find yourself wondering what you’re going to do with all of that food. And much of it inevitably spoils and goes bad. If you do nothing else, don’t shop hungry.”

I nvolve your friends. — from I Will Teach You to Be Rich — “Without this, you’ll have a tough time achieving your goals. For more people, the reason they fail to save money is not a lack of money-saving ideas — it’s themselves and their lack of discipline. By involving your friends, you eliminate that lack of discipline and give yourself automatic accountability and a built-in reason to win.”

J oin up with a volunteer program. — from The Simple Dollar — “It’s a great way to meet new people, get some exercise, and involve yourself in a positive project that can lift your spirit. It also comes without a cost to you and can provide a lot of entertainment and a fulfilling day when you’re in the right mindset.”

K eep your freezer full. — from Ririan Project — “This may sound counterintuitive, but it works. A stuffed freezer means your appliance doesn’t have to work as hard to keep the space cool. Think of it this way: It’s much more expensive to heat up a large, empty loft than it is a full apartment. The same applies to your freezer, just inverted.”

L earn to value simplicity. — from Pick The Brain — “If you feel happiness is directly related to material possessions, you are making a mistake. Happiness can be gained just through being content with a small amount of possessions. Our inner wealth is not just about what we have, but what we are content to live without.”

M ake one large trip instead of several small ones. — from Get Rich Slowly — “Each time you enter the grocery store is another chance to spend. By reducing the frequency of your trips, you’re not only avoiding temptation, but you’re also saving money on overhead (time and fuel).”

N ever top off. — from Ririan Project — “If you’ve been topping off your gas tank, all you’ve been doing is running the meter. True, a little bit of gas will trickle out, but it’s deceiving as it’s not anywhere as much as you would get under full pressure. In other words, you’re paying full price for hardly any fuel. Furthermore, your car just doesn’t need it. When she’s full, she’s full. Topping off only raises the price, so don’t do it.”

O rganize. — from The Digerati Life — “By being more organized, you’re bound to save good money. While the cheapest family has gone on to work things out like clockwork, I’ve unfortunately lost money to being disorganized. Disorganization can cause you to end up with late payments, lost coupons, late fees, forgotten checks, and so forth.”

P lan ahead. — from Zen Habits — “Sure, easy to say, hard to implement. But if you make it a habit to think ahead to things that are coming up in your life, you can save a lot of money. For example, if you think about where you’re going to get your meals when you go out to do errands, you can pack a lunch or dinner instead of eating out. If you pack a big container of iced water, you don’t need to buy expensive bottled water. If you know that a birthday is coming up, you can buy a gift on sale instead of spending more at the last minute.”

Q uit smoking. — from Zen Habits — “Not the easiest way to save, I know. It’s hard. But I did it, and so have many, many others. Not only will you save on cigarettes (which are expensive over the long run), but also associated costs (I used to buy a soda or beer to go with my cigarettes) … and of course the huge, long-term medical costs. In less than 2 years of not smoking, I’ve saved well more than $3,000.”

R edefine your definition of “rich”. — from Frugal Dad — “I remember sitting in a cubicle at my first professional job staring at a picture of an SUV I wanted to buy (and eventually did). Now, I sit in my office and look at the pictures of my kids, and just outside my window I can see the beater I drive sitting in the company parking lot. What a difference a decade makes! To sum things up, my definition of being rich is having enough money to meet my family’s basic needs, a few of our wants, and to be able to give some away to others.”

S top going to the mall. — from My Super-Charged Life — “Going to the mall is not entertainment! We used to go when we were bored. Of course, we usually ended up spending money while we were there. If you need clothes, then shop sales or go to stores that offer name-brands at a discount. You can save a ton on these items if you are a smart shopper. Dave Ramsey says, “Never pay retail!” We probably save $15 to $30 per month by staying away from the mall.”

T ime is money. Properly manage your time. — from LifeDev — “The fewer tasks you have, the less you have to do to organize them. Focus only on those tasks that give you the absolute most return on your time investment, and you will become more productive and have less to do. You will need only the simplest tools and system, and you will be much less stressed. I think that’s a winning combination. Focus always on simplifying, reducing, eliminating. And keep your focus on what’s important. Everything else is easy.”

U nplug your TV. — from The Simple Dollar — “One big way to save money is to watch less television. There are a lot of financial benefits to this: less exposure to guilt-inducing ads, more time to focus on other things in life, less electrical use, and so on. It’s great to unwind in the evening, but seek another hobby to do that.”

V isit the library — from Timeless Lessons — “Lots of people regard books as they do bottles of wine — as status objects, to be collected en masse. Well, a teetering bookshelf might make you feel like a smarty-pants, but it certainly won’t appreciate in value the way a stocked wine cellar does. Add this to the fact that you’ll probably only read them once, and all of a sudden books don’t seem like the wisest investment.”

W rite down your financial goal. — from Dumb Little Man — “A large goal is not likely to be achieved if you don’t write it down. Type it out, print it out in large font, and post it up on your refrigerator. What is your goal? A 50% reduction of your debt? Complete debt elimination in two years? Whatever it is, be specific and write it down, and don’t forget it.”

X plode your finances with a strong foundation. — from Getting Finances Done — “It’s easy for people to get overwhelmed by the enormity of the task of getting out of debt, paying off your house, and saving for retirement. But what most people don’t think about is that with a focused budget and a debt-reduction plan, there comes a point at which your debt and house are paid off and you’re already saving enough for a comfortable retirement. All of a sudden you’re in a position with no debt, no payments, and possibly thousands of dollars a month of disposable income. Overnight, your famine turns into a feast. That’s when life gets really fun.”

Y ou should ride the bike. — from Positivity Blog — “Do it at least during the months with reasonably nice weather. If everything is within walking distance and you don’t have a bike then use your legs. These two options are a lot cheaper than riding the bus or driving a car. Plus, you get a good amount of cardiovascular exercise.”

Z ap the “easy street” mentality. — from Forever Change — “I think there is too much emphasis on the quick fix or the easy option in today’s society. For example taking diet pills to lose weight instead of the “hard option” — exercising and eating well…. money is sometimes being used as a substitute for hard work. Do you think there is an increasing expectation that you can get want you want by throwing money around instead of working hard and “earning” it?”