You've heard the saying, "Don't try to keep up with the Joneses!" This is key! Do what is best for you and your family. Don't be fooled into "keeping up" with anyone. Having the latest doesn't mean it's the greatest. Save yourself a lot of time, worry, and most of all MONEY doing what YOU can do!
A wise man shared this thought about money with me. It made me view money in a brand new light. It helps me to rethink every single purchase/payment I make. He said, "How many hours of work did I have to put in to cover this cost? Is it worth it?" Just think about that the next time you splurge on that designer shirt . If you make $10/hr and the shirt costs $100, you'd have to work at least an entire day + 3 hours into the next (don't forget those deductions from your check) just to cover that. Is it WORTH IT?
Open a savings or checking account! If you are set up for direct deposit with your employer, assign a percentage or specific amount to be deposited into an account just for you and/or your family's future. You'll be AMAZED how quickly it adds up!
Whenever I carry cash I tend to spend less than using my debit card. You tend to think of how much more things cost when you're peeling those bills to a business vs a quick swipe of your card.
Yes, it's healthier, but just as important, it's cheaper!
Frugal people don't make purchases without comparison shopping. We often think whenever we make a purchase, "I might be able to get this for a better price elsewhere. Our spending habits follow a pattern of one who has done their research. We know where we can get the best bang for our buck on candy to cars.
Just because something is on sale does not make it a good purchase decision. The principle still remains that, "If your're spending , you're not saving!"
It's called "Peer Pressure." Frugal people don't worry about and aren't so easily influenced by the money demands of friends and family. You understand exactly how much you have coming in, what needs to be paid and exactly how much YOU can AFFORD to spend.
Frugal people understand the power of the word "No." It's such a simple word that can be so hard to say. But saying it can save you so much time and money. Saying no puts you in a place where you don't over extend your resources and make promises you can't possibly keep.
There is always a goal in mind for a frugal person. From short term goals to long term goals. From saving as much as possible on a grocery bill today to saving in a 529 plan savings account for their child's education for the future.
There are so many ways to save money. So many rewards and incentives are available to anyone looking to pinch their pennies. Frugal people know they don't have to settle for less. We are willing to learn and put in the time it takes to research new and better ways to save.