7 Habits of Highly Frugal People
A decision to save money doesn’t have to be life-changing or even involve sacrifice. It’s surprising how much money you can save simply by paying attention to how your money is used. People routinely buy things they don’t genuinely need. It’s all about being aware of where your money is going. Here are some easy ways to save money this year:
- Save dollars by saving pennies
Frugal people know that frugality applies to both big and small issues. You can enjoy a $10 restaurant lunch occasionally but are fully aware that a daily routine of that same lunch amounts to nearly $4,000 a year. So they organize potlucks instead of meals out. They do simple things like using a tea bag more than once, emptying and reusing a vacuum cleaner bag, and clipping coupons to save a buck on juice. However, they also save in much more significant ways, like trading in their minivan or SUV (sport utility vehicle) for a more economical car.
- Are deliberate about making decisions
Having a good sense of perspective and can see the big picture, they don’t always choose the cheaper option simply because it appears less expensive. Instead, they take their time and explore many options before deciding. They plan and are generally well organized. Typically don’t seek immediate gratification. And, they try to go green whenever possible.
- Good at managing time and money
Organize your errands for optimal efficiency. They value their time; they know how to recognize when saving money isn’t worth the time.
They know better than to drive across town to save a quarter on a gallon of milk. They are disciplined and work before play. Know that how wealthy you are is not about your income but how you use your financial and intangible resources.
- Embracing a do-it-yourself lifestyle
They are being proactive and anticipating and performing maintenance and repairs without procrastination. For example, before hiring a professional for household repairs, research the internet and confers with an expert at the home improvement center to determine if a repair person even needs to be hired. Next, invest in owning high-quality tools to tackle the most simple repairs at home. Then, they barter with friends and neighbors to get the job done.
- Seeing opportunities where others don’t
Intuitive thinking and trust their gut feeling when an opportunity presents itself. Christmas supplies after the Holidays are actual finds. Frugal people are contrarians who don’t conform to the crowd for conformity; they are not mainstream shoppers. They don’t own the newest and fastest electronic gadgets that everyone else is purchasing; they have adopted the Rule of One, owning no more than one of anything non-essential, including televisions, cellphones, computers, electronics, and cars.
- Find new uses for old items
An old table can be broken down and remade into something else. Just because something is old doe not justify throwing it away without thinking How can I reuse this? Think twice before tossing your old items out.
- Proud of their frugal lifestyle
They have devised creative ways for their families to reduce house, food, transportation, insurance, entertainment, utilities, and other costs.
They have turned household tasks into fun family activities, such as gardening or bicycling. They are lastly, mastering the skill of reuse, recycling, barter, and sharing and using the library for books and other materials.
- Save dollars by saving pennies