Tuesday, September 17, 2013

The Frugal Life - What are your rules for frugal living?

Living frugally may have many reasons - sometimes out of necessity and sometimes as a chosen way of life. In my own case it's probably a little bit of both. After all, it never hurts to save some money for a rainy day, plus why keep on spending and spending without any real need?

There are quite a number of websites that advertise the frugal life with tons of tips and advice on how to do it. While those are usually rather specific suggestions, I wanted to get straight to the point. Here's the result ...

It should go without saying, but the most important factor is to stop buying stuff you just don't need. If you already own two dozen pairs of jeans, suffice to say, you sure don't need another one, no matter how cute it looks or how cheap it is. Only got two pairs of underpants in your drawer? Feel free to buy a couple more. Other than that, always think about what you have and learn the difference between wanting and needing!

So you think you're being frugal, because you only paid ten bucks for that shirt or pan or whatever else caught your attention during a sale? Buyer beware! If you buy cheap you often have to live with the fact that things have the tendency to fall apart in no time. In the long run it is better to invest in some quality even if it costs five times as much! After all, always buying cheap can cost you a whole lot more if you need to buy something again an again.

There are things you will only need once or maybe twice in your life. Why throw out a whole lot of money for them if you can borrow from a friend or neighbor instead? Or maybe you can grab a bargain by buying something used (most likely from someone who also only needed a dress/power drill/etc. once and is now trying to get at least a bit of the investment back). So, before you buy new, consider this as an alternative!

In this throw-away society it's a given that people will toss out things, because they are no longer needed or which have no longer any use. If a garment or device literally falls apart there's usually not a whole lot you can do except replace it, but often enough people get rid of things they just don't want any more despite them being in good condition. Here's where your imagination and craftiness can be put to good use by upcycling and reusing something!

How do you like my rules for frugal living? Do you abide by these or similar rules? Please share!

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