Archive for the ‘Family Budgeting’ Category
How to Save as a Frugal Shopper
A frugal shopper has skills and ways of looking at things that help him or her take advantage of the money-saving opportunities in life. There are eleven of these techniques below. You can learn them in a matter of a day or two, practice them for a few weeks, and then save money for the rest of your life.
1. A frugal shopper studies other people. Do you know someone who always gets the best deal on cars, boats, or whatever? Ask him how he does it! Some people will tell you that the cheapest coffee in town is $3 per cup, while others will say 50 cents. 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.
2. Frugality requires knowledge of values. It’s tough to get a great deal on a car if you don’t know what a great deal is. Start educating yourself on prices, especially before you’re ready to buy anything that costs a lot.
3. Frugal shoppers pay cash. Things are cheaper when paid for in cash instead of credit. Want that new patio set? The price 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.
4. A good shopper looks for alternatives. Maybe you’d have just as much fun taking that discounted trip to the Bahamas as you would going to Jamaica. If you happen to enjoy pizza just as much – or more, skip the expensive restaurant and call Dominoes.
5. 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? My neighbor wanted to upgrade her living room debt, and was thrilled that I would take her 3-month-old couch off her hands for $30. Glad I mentioned I was looking for one.
6. 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.
May You All Have a Happy and Frugal New Year
Frug 
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January 2nd, 2012
Frugality! A Word or a Way of Life.
The word “frugality” has left a more negative connotation for most people than simply being a saver, a cheapskate or tightwad. There is a thin line difference to saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotation comes from.
But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong.
If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips. (more…)
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December 7th, 2011
Finance Tips for Frugal Living
We have all heard about the don’t pay a cent event at our local furniture and department stores. The idea behind this came from the store layaway. With layaways you put a certain percentage down on your purchase and on a weekly or monthly basis you would put more money down until you paid off the balance. The only caveat with a layaway is that you don’t get to take your purchases home.
The layaway has made a comeback most likely due to the economic times. The premise of the layaway is fabulous and works really well for most. (more…)
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November 26th, 2011
Tips for Saving Some Money Next Month
Did you know that it is possible to really stretch your income if you use a few simple budgeting tips. While it is possible to spend buckets of money in one go, most peoples’ troubles come from having their incomes chipped away in small and hard to see expenditures. By setting a budget and keeping track of it you can gain control over your expenditures and start to save money. Using the following budget tips should help you be able to have money left in the bank at the end of the month.
Lots of people today could use budgeting tips to help them better manage their finances. Without a budget, you may find that you’re not even aware of why you have no money left at the end of the month. Once you start to keep track of things, though, it’s easy to get ahead of the game and regain control.
Spreadsheet programs are what help some people better manage their budgets. There are lots of spreadsheet programs that are quite simple to use that will help you keep track of all of the money coming in and going out. Not everyone has the same level of comfort with technology though and the same operations are possible in a notebook with a pen and the help of a calculator. The reason for setting up a budget is, of course, putting together a way to watch your money. The first step to taking control of your budget is to keep it in one place.
A really good budgeting tip if you want to reduce the money you spend each month is to ensure that you do not spend most of your paycheck on your power. If your home isn’t well insulated, to use one example, a lot of money could be wasted on heating costs during the winter. When you live in a climate that has hot summers, your air cooling costs can be very expensive. Low-electricity alternatives to using your air conditioner include using ceiling fans and exhaust fans. Don’t allow the surge protectors (like the ones used for your computer) to stay turned on when you aren’t using the things that are plugged into them. Are you light bulbs too high of a wattage and do you leave them on in rooms even if you’re not in them? Paying attention to all of these matters can help your household budget.
Clothing is an essential expense that you can often save considerably on if you go about it the right way. The only real difference between something that is really expensive and not as expensive is the label that is sewn into it so it is possible to save lots of money by just buying clothing with less expensive labels sewn into them. It is also possible to save money by buying clothing off season.
For lots of people these days, their vehicles are incredibly expensive and they eat up a big portion of their budget. It is important that you ensure that your vehicle is economically safe for you to own and that it meets your needs. Lots of times you can save lots of money on monthly car payments by trading in your current car for something cheaper and more reliable. If you live in a home that uses two or more vehicles, perhaps you can get by with just one? Make sure that you aren’t paying more money than you have to for your car insurance.
Starting your own veggie garden can help you lower your food budget by quite a lot. This probably sounds a little bit extreme but lots of people have started to do it. Some towns and cities have developed plots of land for community gardens in which you can rent space for growing your own veggies. This is a case where saving money is actually good for you, as it’s generally healthier to eat fresh vegetables out of a garden than foods grown commercially. It is also a very satisfying activity and you could find that you have discovered a new hobby. This is worth looking into, and it doesn’t have to take up that much of your time. Growing your own veggies can reduce your family’s food budget and give you healthier and fresher food in one fell swoop.
Overusing credit cards is one of the major ways that people mess up in their budgets. It’s easy to fall into this trap just by having too many credit cards. Cut back on the number of cards you have and, while they might be tempting, don’t accept offers for new accounts. For example: you don’t have to have a separate card for each department store in which you shop. The reason they offer them to you is to encourage you to buy more, as people tend to not feel they are really spending money when they pay with credit cards. The basic rule of thumb is that, the fewer cards you have, the better and even then you should only use a card if you really have to.
Setting up your budget will probably seem hard at first but you’ll get used to it in no time. Your new way of life could even end up being quite a lot more fun than your old way of life. Lots of people find that just making their lives simpler provides them with higher levels of satisfaction than simply spending money without thought.
In conclusion, there are plenty of things you can do to better budget your finances. Sometimes it may seem like a sacrifice to cut back in areas where you’re used to spending freely, but very often you can quickly adjust to being more frugal. Lots of the time, the extra money you spend on things like coffee is little more than habit and, if you make your coffee at home or at work, there’s no need to feel deprived after you get used to it.
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February 3rd, 2011
Your Retirement Guide To Living Cheap…Four Ways To Have It All
The guide to living cheap does not mean sacrifice. If you think you do not have enough money to retire…stop a minute. Here are four different lifestyles which has kept the writer and wife retired for 15 years. They are not only cheap they are fun as well…you can do this too.
1) Living on a sailboat in the Caribbean. We lived the life Jimmy Buffett sings about for eight wonderful years. Up and down the island chain from Venezuela to the Virgin Islands. Cheap…we averaged spending $1,000 a month when in the islands. Remember there is no charge for dropping your anchor in a beautiful bay. Ashore in the hotels they were paying $500 and up per night…we had a better view.
2) Full time RV is a great frugal retirement lifestyle. If you enjoy traveling without the hassle of packing and unpacking, give it a try. Monthly rent was around $450…pretty cheap including utilities. We used the RV as a means of finding a permanent retirement home. You can enjoy this fun, frugal retirement lifestyle too.
3) Live Overseas…we did for eight years. It is fun, cheap, safe and interesting. Currently one million Americans are living in Mexico. You can live very well here for $1500 to $2000 a month…including a maid…and health insurance which is $270 a year. You are three times more likely to a victim of violent crime in Mexico vs the US. Jimmy Buffett is right folks…changes in latitude changes in attitude.
4) Downsizing…when we moved from a 1800 square foot home to a 35 foot sailboat…about 50 square feet of space where you can stand up. You quickly find out that you can do without 98% of your stuff…and that is conservative. Downsizing from a big house to a condo is a piece of cake.
Still think you can not afford to retire?
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February 19th, 2010
Planning The Perfect Spring Break On A Budget
Every year, thousands of College students head to exotic island hot spots for spring break. Unfortunately, the recent economic conditions and the rise in the price of tuition have now left many students on a tight budget. Many students cannot afford the usual spring break exotic vacation destinations. Fortunately, there are many things a student can do to plan the perfect spring break vacation while on a budget.
1. When planning a spring break vacation, you should figure out how much you can afford to spend. Once you know how much you can afford, you can plan a vacation that will not have serious financial consequences. You should set the amount of money aside and stick to your budget. Do not take more money than you can afford to spend as you will likely spend it. As well, you should plan how you will spend your money on things like, transportation, food, entertainment, and other expenses. Wherever possible, use cash to buy your items instead of a credit card. You do not want to return from your trip and find yourself saddled with high credit card debt that you cannot afford.
2. Selecting the right vacation destination is a key component to helping you stick with your budget. Decide where you want to go for spring break. If you cannot afford a traditional exotic beach vacation, you should consider a more local destination. Miami and Las Vegas are fun places to vacation. They can also be more affordable destinations. The internet is full of travel sites that offer special spring break packages. Once you have decided on your destination, make sure you book early to ensure you get the best and cheapest deal.
3. Traveling alone or with one person can be expensive. Plan your vacation with a group of friends. You can often get great travel and hotel discounts if you book as a group. If you are traveling by car, travel with a group of friends so that you can share fuel costs. You can also share a hotel room. Having about four people per room will significantly cut down on the cost of accommodations. It can also be really fun staying together.
4. Restaurant costs can really take a bite out of the budget. Instead of dining out every day, get a hotel room that has a kitchenette and buy your food from a supermarket. If you do dine out, look for restaurants where you can get a cheap meal such as a fast food franchise restaurant. By doing so, this will significantly cut down on food expenses.
After calculating how much money you will need and you discover you still cannot afford a vacation, there are many other options to take advantage of such as going on a road trip with friends for a few days, visit family or friends, or take a day trip to another city or fun attraction such as an amusement park. No matter what destination you choose, you should have fun, relax, stay safe, and enjoy the break from your studies.
Adriana Noton is a freelance writer who specializes in providing great financial information for Canadians. When searching online for debt counselling or credit counselling, one of the many resources available is Consolidated Credit; offering a variety of debt counselling services and financial planning tools to help Canadians get their debts under control.
