Even now that the recession is easing, many of us still see value in living a life of frugality. We have come to realise that frugality need not mean a restriction on enjoyment and fun. In fact, frugality could offer us even more reason to enjoy life.
You may have to change the way you think about many things for you to be successful in this. Some of the most important areas in your life are transportation, food and drink, entertainment, health and beauty, household expenses, and your finances.
In this post, we take a look at how we can reduce our spending in each of these categories.
Tip #1: Save on Entertainment Expenses
Try changing the way you entertain yourself. You and your loved ones don’t need to spend a lot of money to enjoy yourself. Find value in doing things that don’t require that much spending. Examples of great activities are camping, board games, bowling, reading, and volunteering. Organise a club for people with similar interests -this will help you to meet people and encourage saving while socialising.
Tip #2: Carpool or Cycle to Work
Owning a vehicle is not only expensive, it increases your carbon footprint. Before purchasing a fancy new car, think of the associated costs like petrol (gas) and maintenance. Why not carpool to work with a group of friends/collegues? If you don’t have anyone in your area, there are sites like Carshare or rideshare that helps you find car pool opportunities in your area. This allows you to save money, cut your carbon footprint and meet new friends.
You might also decide to catch up on your exercise and cycle to work, if you have that option.
Tip #3 Go Organic
Consider the type of food you eat? It’s both cheaper and healthier to stay away from processed food. Why not start your own vegetable garden at home so you can have fresh fruit and veggies every day? If you must, buy only what you need and buy in bulk so you save in the long run.
Tip #4 Exercise At Home
Not all of us need a gym membership; some do well exercising at home instead. You could even round up a bunch of your friends and go for an early morning run before work.
You can even turn unused items into training equipment, for example, lifting a few buckets filled with sand are excellent substitutes for weight training.
Tip #5 Declutter
Go through your home and see what you don’t need. You can sell this on sites like e-bay and use the extra cash to spoil yourself.
Another thing you can do is scrap unnecessary items off your shopping list, or buy cheaper alternatives that work just as well. The next time you buy something like shampoo, compare the ingredients with a cheaper product. In this way you’ll discover that sometimes you’re just paying for the name.
It’s easy to go frugal, but only once your heart is in it. The trick is to not go overboard with it and to always remember the true intention – to get the most out of life no matter what the size of your pay check is.
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