Frugal living is about learning how to look at things in a way that saves money. These are the habits of a frugal person.
Below are six of these habits. These techniques can be learned quickly and then transformed into new habits in just a few weeks. These techniques will help you save money for the rest your life.
1. A knowledge of values is essential for frugal living. If you don’t understand what a great price is, how can you find a great deal on your car? Be a good shopper and learn about prices before you buy expensive items. Although it takes only a few hours to look at homes for sale in a given area, this knowledge can help you save thousands.
2. Learn from others. We all know someone who gets the best deals on cars, boats and homes. Ask them how they do it. One person might tell you that $3 is the lowest price for coffee in town, while 50 cents is the average cost. Ask them about coffee shops. You may be surprised at how many people live a happy life with half the money you earn. That’s what you should do. You’ll learn from others how they do things and what your options are.
3. Living frugally means looking for other options. It might be just as enjoyable to take a cheap trip to Mexico than to Jamaica. Perhaps pizza is your favorite food, or you prefer French cuisine to pizza. Dominoes is a better choice than expensive restaurants. It’s not about giving up, but getting more of the things you love by paying less for better alternatives.
4. Cash. What happens if everything you buy is 20% more expensive because of the interest that you pay over the years. You can’t purchase as much! All purchases are cheaper if paid in cash and not credit. Divide the cost of a new patio set by how long you have to wait before you get it. You can set aside this amount each week and then buy the item for cash as soon as you have the money. You’ll save interest and often get a lower price if you pay cash.
5. Do the math. If you pay $500 more per year for gas, did you really save $400 on this car? Did you know that some shops profit from shoppers’ belief that bigger is better? It is true. It’s possible that a gallon of pickles will cost more than four quart containers. If you are looking to save money, make it a habit of doing the math.
6. Tell others what you need. In conversations, mention it. People often get cheap or free things just by talking. A neighbor wanted to improve her living room . I was delighted to offer $30 and take her three-month-old sofa off her hands. I am so glad I said I was looking for one. This little trick should be a part your frugal living.
