Find the Savings--More tips on being Frugal

There are lots of ways to save money, no matter how much of it you have - or don't have. All you need to know is where to look to find the savings.

The first thing you need to do is eliminate ALL of your unnecessary expenses such as eating out on the weekends, buying lunch at work every day subscribing to magazines and newspapers and cable television.

It's OK to reward yourself once in a while, but if you are really looking to live frugally, you owe it to yourself to save every single penny you can!

To find other ways to reduce your expenses, take a close look at your chequebook and credit card statements. You should also call your credit card companies to see if they will lower your interest rates.

You'll be amazed at how many ways you can save money, especially once you start looking carefully at how you spend your money every month.

For those expenses you can't eliminate, it's time to start shopping around for the best prices. Things like car insurance, groceries, clothing and gifts can be found at very reasonable prices if you take the time to seek out the bargains.

The same is true of many of your monthly expenses - like long distance telephone service, internet service, all types of insurance, mortgages, and in some places even your utility bills.

So, if you'd like to save yourself lots of money every month - and who doesn't - start shopping around and looking for ways to lower your monthly bills right away.  Add this to cutting out unnecessary expenses and you could find yourself being able to save thousands of dollars each year. The initial investment of time to seek out the best values will be well worth it in the long run.

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.