Being
frugal is not always easy in today’s busy world. You want to be
frugal and you mean to save money but somehow you never quite get
there. If this describes you and you really want to be more frugal,
you need to start following a few simple rules.
Set Something Aside for Emergencies If you want to truly be frugal, you have to plan for the unexpected. You should include a set amount in your budget each pay period to handle emergency car repairs, trips to the doctor, home maintenance and the like. This money should always go into your savings account and not be touched until it is needed. Otherwise, it will be all too easy to reach for the credit card or take out a payday loan when your car needs a new tire today and you do not get paid until next week.
No Impulse Buys We have all been there. We see something at the store we just have to have, bring it home and then a week later we wonder why we bought it. To stop this from happening, make a rule against impulse buying. If you want something, wait at least a week to purchase it. This will help you determine if you really want it and if you can get a better deal elsewhere.
Play Money
Set aside a small amount of money you can use each period for play money. This is money you can spend however you want, no questions asked and no guilt involved. To really make this work, you need to get your play money in cash or else it will be very tempting to go “just a little bit over just this once” and end up wrecking your budget.
Cut Out the Small Expenses
Frugality is not just about controlling the major expenses; it is also about watching the smaller ones. This means limiting small expenses, such as the daily cup of coffee or the routine stop at the gas station for soda and candy bars. If you want to be frugal, you do have to sweat the small stuff.
Stick to Your Budget
The cardinal rule of frugality is if you do not have it, do not spend it. You should make certain all of your bills are paid and you are meeting your savings goals before spending any other money. If a purchase is going to jeopardize your financial security, do not do it.
Remember Your Goals
There is a reason you want to be frugal. Maybe you are trying to buy a new house or car, maybe you are trying to save for a trip around the world, or maybe you are trying to save to have a baby. The reason does not matter; what matters is that, when confronted by the double venti cappuccino or shiny new electronic toy that you want very badly, you remember that you want to reach your goals even more and take a pass on the purchase.
It may not always be easy to be frugal in today's world, but you can do it if you follow the few simple rules outlined above.
About the Author:
Set Something Aside for Emergencies If you want to truly be frugal, you have to plan for the unexpected. You should include a set amount in your budget each pay period to handle emergency car repairs, trips to the doctor, home maintenance and the like. This money should always go into your savings account and not be touched until it is needed. Otherwise, it will be all too easy to reach for the credit card or take out a payday loan when your car needs a new tire today and you do not get paid until next week.
No Impulse Buys We have all been there. We see something at the store we just have to have, bring it home and then a week later we wonder why we bought it. To stop this from happening, make a rule against impulse buying. If you want something, wait at least a week to purchase it. This will help you determine if you really want it and if you can get a better deal elsewhere.
Play Money
Set aside a small amount of money you can use each period for play money. This is money you can spend however you want, no questions asked and no guilt involved. To really make this work, you need to get your play money in cash or else it will be very tempting to go “just a little bit over just this once” and end up wrecking your budget.
Cut Out the Small Expenses
Frugality is not just about controlling the major expenses; it is also about watching the smaller ones. This means limiting small expenses, such as the daily cup of coffee or the routine stop at the gas station for soda and candy bars. If you want to be frugal, you do have to sweat the small stuff.
Stick to Your Budget
The cardinal rule of frugality is if you do not have it, do not spend it. You should make certain all of your bills are paid and you are meeting your savings goals before spending any other money. If a purchase is going to jeopardize your financial security, do not do it.
Remember Your Goals
There is a reason you want to be frugal. Maybe you are trying to buy a new house or car, maybe you are trying to save for a trip around the world, or maybe you are trying to save to have a baby. The reason does not matter; what matters is that, when confronted by the double venti cappuccino or shiny new electronic toy that you want very badly, you remember that you want to reach your goals even more and take a pass on the purchase.
It may not always be easy to be frugal in today's world, but you can do it if you follow the few simple rules outlined above.
About the Author:
Sally
writes on behalf of a number of successful businesses in the South
West including DrummondLLP.co.uk a bookkeeper in Plymouth, Drummond
LLP strive to deliver excellence and their service extends to the
South West region. If you need a bookkeeperin Devon or Cornwall – Trust Drummond LLP to take care of
all of your accountancy needs.
You could add learning to do as much yourself as possible. For example, if you have fully-stocked ute boxes and the right skills, you don't need to go to the mechanic for car repairs as much as many others.
ReplyDeleteInstead of hiring people for repairs, I recommend developing the necessary technical skills for components. Also, we must be ready with equipments such as tool hire lewes when the time comes for it.
ReplyDeleteSaving money is only achieved when you hold on into your goals. By having a clear goal in life, saving money won’t be a problem to you. The bottom-line is; as long as you know your priorities, you can save your money and you can pay your bills right on time.
ReplyDelete