One of today’s new watch words is “Frugal:” the art of saving money, time, things. In essence, frugality makes the most of everything you have. There are five basic steps, though, that the average person can take, without sacrificing too much. Think of them as baby steps toward full-blown frugality. They’ll help you save money on necessities, and help you plan for what you really want!
Watch Your Utilities. Turn the heat (and air conditioning) down; even a few degrees difference saves on your energy bill. (Turn lights and/or appliances off when you leave a room, for added savings.)
Shop Farmers Markets and Local Sources for Food. Fruit and vegetables are not only fresher — they’re cheaper. Stop by a half-hour before closing time; you’ll be able to bargain even more. (Vendors would rather sell for less, if it means they don’t have to pack up again.) Know anyone who farms? They may be willing to sell eggs, honey, maple syrup or fresh veggies directly to you. (Added savings: They may have beef or pork on the hoof they’re willing to sell. You’ll spend far less per pound for quality meat, even with the cost of transportation and processing thrown in.)
Take Advantage of Free (or Reduced) Entertainment. Communities often offer free or low prices to films, plays, talks and concerts — our Colorado town, for example, has free monthly film showings on a huge outdoor screen in the summer. You can find out more at your local library, which, by the way, is a great source for newly-released and classic movie DVDs. (Added savings: bring your own popcorn and drinks to the outdoor events.)
Save Regularly — Even If It’s Just A Little Bit. Do expenses take nearly all of your available cash? Set aside 5 a week, and you have 20 a month. You may have to cut your Starbucks habit down to 3 times a week, instead of 5…or eat a burger, instead of steak that night. No matter –if you can put aside 5 a week, you’ll have at least 240 a year — a good-sized chunk of cash toward that HDTV or other goodie you haven’t been able to afford til now. It’s not just the amount; it’s the regularity that counts. (Double the amount you set aside, and you’ll reach your goal even faster. That’s added savings that really counts.)
And Finally, Give. Donating unneeded items to the local task force is painless, cuts down on clutter — and nets you a tax deduction, in the process. Donating your time to mow an elderly neighbor’s lawn, help a child to read, or help at your favorite nonprofit, feels even better. After all, being frugal means you can then be very generous.