Six Traits of the Frugal Shopper

A frugal shopper has skills that help him or her gain benefit of the money-saving opportunities in life. Below I have listed several traits found in frugal shoppers.  By incorporating these into your life, you too can become a frugal shopper.

A frugal shopper studies other people. I love to watch and study people because they are so interesting and I learn so much from my observations. There are probably people near you living a good life on half of what you make. Learn how others do things, so you'll know your options.

Frugality requires knowledge of values. It's hard to get a huge deal on a car if you don't recognize what a big deal is. Start enlightening yourself on prices, especially before you're ready to buy anything that costs a lot.

Frugal shoppers pay cash. Things are cheaper when paid for in cash instead of credit. Want that new patio set? The cost divided by the number of weeks you can wait to get it equals how much you need to set aside each week. You'll not only save on interest when you pay cash, but you'll often get a better price. Frugal shoppers also use credit cards, but pay them off in full every month and do not pay any credit charges.

A frugal shopper looks for alternatives. Maybe you'd have just as much fun taking that discounted trip to the Bahamas as you would be going to Jamaica. If you happen to enjoy pizza just as much - or more, skip the expensive restaurant and pay the frozen or fresh pizza in the grocery store and add your own toppings.

Frugal shoppers tell people what they need. Just mention it in conversation. Do you know how many people get free or cheap things, just because they talk?

Do the math. You didn't really save $400 on that car if it costs you $500 more in gas each year. Also, be aware that some stores are cashing in on shopper's assumptions that larger is cheaper. Yes, the gallon of pickles might actually cost more than four-quart jars. Be ready to do the math if you want to be a frugal shopper. There are many apps that you can get that will help you with this goal.

How Can I Be Frugal?

Buy everyday items you use in bulk. Buy the biggest package you can find, which gives you the most for the money. 

Cut out most frozen foods. Some frozen foods make sense, like buying frozen bread dough. It is cheaper to buy three or four unbaked loaves together, than to buy one loaf of bread in the bread section. You can dress up frozen bread dough by rolling it out, brushing it with butter and spreading cinnamon-sugar. Just roll it back up and bake. Voila, you have cinnamon bread. Throw in raisins or pecans for variety.

Buy fewer convenience foods, and more staples like dry beans, rice, fresh fruits and vegetables, meat, milk and butter (store brand.) Buy food in bulk when possible. Forego the nicely packaged pre-made honey butter, mashed potatoes, or other prepared foods. 

Eat out less. If you must eat restaurant food, get the whole meal as a take-out. That saves you from buying pricey mixed drinks, paying gratuities, and buying that fancy dessert you couldn't live without but didn't need.

Instead of going to the theater, buying popcorn and expensive tickets in prime time stream it or watch it on NetFlix later. Maybe the movie won't be "new" when you see it, but you will save a bunch of money. Call the museum or zoo and see if there's any price discounts for certain days of the week.

If you need to buy clothes, avoid any that need to be dry cleaned only. During tough times, shy away from outfits that have special care needs. Go for anything that can be thrown in the washer and dryer.

Use the car less. This is obvious but worth mentioning. Combine trips, so you aren't wasting gas. If your car doesn't require high-octane gas, forget about it. Regular works fine. To save even more money, use public transportation.

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.

Is Being Frugal Worth It?

Considering retirement or starting to plan your retirement? When many retire, they experience a decrease in income, but they also experience a decrease in expenses. It takes a while to get a handle on living on a fixed income, that is reduced from what you had when you were working. One way to prepare for this reality is to think about being frugal while you are working. Frugality can become a way of living.  Frugality is simply the practice of looking for the less expensive alternatives. Frugality doesn't have to mean being a Scrooge or living without comfort.  Is it really worth the time and effort you put into things like homemade cleaners and clipping coupons?  Many say it is.

Search the Sunday paper for coupons and clip them out. Make a list of things on sale that you can stock up on in order to get your average cost down. Plan and run a route to four stores in order to get everything where it is the cheapest. Total extra time spent: three hours. Now, save sixty dollars.  This translates into twenty dollars an hour-a pretty good deal.

Sometimes the small stuff is the big stuff, especially when it is repeated over and over. This is why it makes sense to save money on groceries. They are something you buy every week. Saving sixty dollars every week or two adds up over time. How you do it makes a difference though.

For example, suppose you don't want to clip coupons or spend time looking at sales flyers. Why not invest just an hour or two to figure out which store is cheapest for the things you buy? Then shop only there, and buy more of the things you use and like when they are on sale. You might still save $20 per week, with no additional investment of time. That's a $1,000 per year!

You need to sit down and decide how much time you have to spend on your efforts.  If you do this and then figure out what your yearly savings can be, you will have a much clearer idea of how you want to proceed.  It will also give you encouragement on those days when it feels you are missing out on something. A small saving here a small saving there, it all adds up and what is more important over time it can become a habit and a way of living without sacrificing.