Frugal Living TipsFrugal living means living on less. For some it won't be easy to make the change. But, for many who are simply trying to survive during the economic downturn, it's a necessity. By living frugally and preparing for the unexpected, you will be blessed with peace of mind knowing that you are able to take care of yourself and your family without having to rely on anyone else. Frugal living will help prepare you for self-sufficient living.
Frugal living allows you to spend less than you earn and use the difference to pay off debt, save or invest, or all three. In the long-run, you actually have more options with a frugal lifestyle. If you're young, it might be hard to grasp that concept, but trust me - it's true. You can get loads of frugal living tips online. I want to share some that you might not have thought about but could make a difference in your goal to living frugal. 9 Frugal Living Tips FIND THE WASTE - It’s the little things, not so much the big ones, that have caused us to become overindulgent and sent us into debt. Financial experts say that that we waste 16-23 percent of each month’s paycheck. That’s a lot of pennies!When I became a single parent and was living on one income, I kept track of my expenses - to the penny. I had too! It was actually a very rewarding time for me financially to see that I was capable of making do with my meager income by living frugally. We shopped the thrift stores, rarely went out to eat, and had fun doing things that didn’t cost much, if anything at all. I had become a survivalist! I was a smart shopper and always shopped with a grocery list to avoid impulse buying. When I remarried, I had a chunk of money in a savings account in spite of my frugal living, or because of it. Of course, I'm still living frugally and research the ads online and offline to get the best value for our money.  ORGANIZE AND PREPARE YOURSELF BY KEEPING GOOD RECORDS - Whether recording your spending,balancing your budget,or organizing important papers, good records are priceless.Home organization saves you time and money. Determine places where your belongings can be kept in a clean, organized way. You never know when you might need “important” papers. We recently received a notice from our State Tax Commission questioning a deduction we had claimed. I went to the cupboard where I keep our tax information, found the year in question, and was able to locate all of the paperwork needed to send back for verification. Being frugal like I am, our tax information is organized with paperclips, rubber bands, and saved in a plastic grocery bag with the year written on the outside. It’s worked for years like that; why spend money on special containers. You can be frugal and make your own bill and/or important paper organizer to use until tax time. All you need is a 3-ring binder, some pocket folders (use one for each month or buy six and cut them in half), and a pen or marker. Use your imagination to determine how this simple system will benefit you the most. If you’re a “stacker,” meaning you stack papers or magazines in a pile until you can get to it, try the 5-minute room rescue idea. Set the timer and file that stack of mail or whatever else it is you accumulate. This frugal living tip will not only keep you organized, you’ll feel better to!  ASK YOURSELF - DO I REALLY NEED THIS? Many of us have lived a prosperous or comfortable life for a long time and may not be able to distinguish between essential and nonessential.Every family is unique in the lifestyle they live. So, there isn’t a “one size fits all” rule-book to follow. The important thing is to get started! How you spend your money should certainly be a decision between the adults in the home, to avoid any contention and hard feelings. Ideas from the children could help them develop a feeling of responsibility in the well-being of the family. The good news is, with any economic downturn, we have the benefit and opportunity to reevaluate and simplify our lives and begin frugal living. When you're short on cash and are in real need of something, adopt the idea of secondhand shopping at thrift or consignment shops and yard sales. To get the best goods at low prices, go where the money is. The more expensive parts of town will have better items for sale. Many times you can negotiate on the price. But, a word of caution: take only the amount of cash you have available to avoid overspending. And don't forget the Net. You can browse used goods at sites like ShopGoodWill.com.  OWN A HOME - DON'T LET IT OWN YOU! When things get bad, the most difficult expense to make is usually the mortgage payment. Lenders will not consider your family size, the educational or vocational needs of your children, or other financial obligations. They will not consider your age or retirement needs. They don’t know how secure your job is. They don’t care about family crises or other unexpected expenses. These are reasons you should carefully consider any ceiling offered by a mortgage lender if you want a home you can reasonably afford. If you’re a home owner, my advice is to find a way to pay off your mortgage early and invest the savings. You can pay interest or you can collect interest - you decide.  HOW TO KEEP THE LIGHTS ON - When energy supplies decline and costs rise, the frugal family knows it pays to be energy conscious. Utility bills are often an area that can be lowered, saving your family hundreds of dollars.Electricity and Natural Gas are the big energy guzzlers. Want to know which appliances have the biggest impact on your electric bill?
As you can see, by turning up your thermostat in the summer and down a few degrees in the winter, you will save on your power and heating bill.  HOW TO KEEP YOUR CAR FROM BREAKING THE BANK - For most of us, owning a car is a necessity. But there are some ways we can make this less of a financial burden.Buy new or used? New cars have only had one owner - you. However, a new car depreciates quickly, starting the minute you drive it off the lot. The most cost-effective automobile is between two and four years old. By then the depreciation rate has leveled off, and the car will begin to hold its value. Check reliability reports. You want a model that is safe, with a reliable track record. Check on insurance rates for the make and model you are looking for. Shop a variety of reputable sellers or dealers. After deciding on one or two, do some homework. Use this checklist as a guide:
Hopefully you have a trusted car mechanic whose rates fit in with your frugal lifestyle.  DRESS STYLISHLY AND AFFORDABLY WITHOUT WRECKING YOUR BUDGET - Clothing is a necessary expense; but, the price for clothing doesn’t have to put you over budget. Buy simple, classic designs. They last for years, unlike the trendy clothes. Mix and match. Interchangeable clothing is more serviceable for all occasions. Stick to quality shoes and items. They usually last longer. My personal favorites: Shop garage and yard sales, thrift and consignment stores. You can find great deals on gently used clothes and many other useful items. Outlet stores or stores like Ross, TJ Max, and Kohls. (I love these stores!) Buy out of season. This is when you’ll get the “lowest” prices for your frugal budget.  GOOD HEALTH IS LIKE MONEY IN THE BANK - You may not have considered good health as a frugal living tip, but it really is something you should not neglect.Buddha said, “To keep our body in good health is a duty, otherwise we shall not be able to keep our mind strong and clear.” That is great advice; but keeping healthy also saves us money. Carry medical insurance. Do careful research to get the best plan for you and your family. Don’t procrastinate either. One accident or illness could wipe you out financially. Have regular dental checkups. Saves money and keeps you healthy. Find out if you can cut your pills in half. Check your bills and explanation-of-benefits statements for accuracy. What if you lose your insurance? Well, there’s COBRA, but it’s very expensive. Other options can be found through online insurance or through local agents. Use only reputable Web sites or companies. Ask government agencies, experts, medical doctors, and the Better Business Bureau before you buy anything. Of course, nothing beats prevention. Be wise and learn the laws of health. Don’t put off annual physical examinations, exercising, eating healthy, brushing your teeth, and washing your hands - often!  SAVE FOR THE NECESSITIES OF LIFE - Money doesn’t buy happiness, but it does provide security.Putting money aside gives you control of your future, Consider these questions:
True security means you are prepared, or are preparing for self-sufficient living, which goes hand-in-hand with frugal living. I have a deep sense of comfort knowing that I don't have to rely on anyone else to pay my bills, put food on the table, and provide the necessities of life. Living frugally has helped our family achieve this. You can learn the basics and much more about frugal living and self-sufficient living by getting my free gift, a copy of my
"Guide to Self-Sufficient Living."
You can embrace frugal living. This will bless you with great peace of mind.
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