Frugal Rules

If you want to have a retirement where you do not need to worry about money, there are two ways to do so. First, save enough money to continue your lifestyle. The reality is that not many of us have done this or are doing this well. The second way is to start to live within or below your means by being frugal. Frugal living is something that you undertake for the long haul.  It isn't something you can pick and choose to do one day and not the next-that is, not if you expect to see progress toward your goal. You do have a goal, don't you? If not, read the final tip here first.  Below are several things you need to keep in mind if you are considering a frugal lifestyle. Not every frugal idea is workable for everyone.

1.   There is a balance between frugality and time that is unique for each person. Some people have time to grind their own wheat into flour and make their own pasta from scratch. Some people only have the time to do simple things.  You don't have to use every idea you hear about.

2.    Start saving your savings.

When you save money, you need to go ahead and put the money in a jar until you have enough to put it in the bank. If you save $20 on a shirt you didn't buy, put that $20 in your jar. If you save $1.59 on groceries, put that money in the jar. Many grocery stores receipts will even tell you how much you save. That makes it easier for you. Spending money you save in one place on something else is still spent money.

3.    Set your goals and stick with them.

You have to have a reason to be frugal. Whether you want to learn to live on a reduced income, get out of debt or go on a cruise, you have to have a goal. Don't just leave it vague. Write down the specific steps you are going to take. Look at your goal every day. Keep it at the forefront of your money thinking. When you consider whether or not you will buy something, look at how it affects your goal.