If you have been following our posts for the past few weeks, you probably are aware of how to cut down on your expenses and save. However, today’s post is directed towards those joining us for the first time after a lot of interventions from family and friends and have decided to try out the frugal lifestyle. As a form of introduction, frugality is the quality of being prudent or economical in the consumption of resources such as food, time or money, and generally avoiding waste. Even in a time of plenty, you as an upcoming member of the Frugal family, should not waste resources and learn to save or invest or both. Having this in mind, i want to say:
Welcome Spendthrifts, to the Frugal family!!!
In order not to overwhelm you, we will start you off with a few tips you can incorporate into your daily routine to help cut down on expenses and live frugally. Try them out for the next few weeks and give us a detailed or brief account of how you performed. Just like every new thing, you will make a few mistakes before getting it right but not to worry, we are here for you all the way. Let us introduce you to Frugality 101: For Beginners.
Are you with your pen and paper? Here we go:
- Learn to say No. Start practising today. Say No to that outing, No to those shoes/game calling your name. Just say No!
- Compare prices of the item you want to purchase to other ones in the market and find one of equal quality at a lower price to save money.
- Buy most of your items in bulk rather than one by one. This saves you a whole lot of money and you can keep count of when you’re about to run out of items at home.
- Ditch all plastic cards but one. Learn to carry cash around for your already planned day. The only card you should have on you should be for emergencies and NO! the overly priced dress calling your name from the store isn’t an emergency.
- Do things yourself. Most of the professional help you seek for and pay for can be done on your own, by yourself. So open up that YouTube page, spend a few minutes learning and fix or build something by yourself. Oh, you also feel good after.
You should probably start with these five tips and i’ll be expecting your report sheets next week. Class dismissed!