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.
1. Eating Out - Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.
2. Clothing - Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.
3. Own Home - If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.
4. Buying Your Own Car - Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.
5. Shopping for Groceries - As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.
6. Family Out - There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.
7. Buying School Supplies - Stock school supplies at home and do not buy anything fancy.
8. Be contented with what you have and try to live within what you earn.
9. Plan your Child’s College Education - Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and “on campus jobs”.
10. Be Aware of your Financial Limitations
11. Anticipate your Failures by Planning - Have always a budget plan so you would avoid impulsive buying.
Being frugal in the long run gives one the resources to get through tough times, and in better times enjoy special moments and not worry about finances. Remember I'm on your side as we are all in this together. Come back again next week for another great tip on living the good life without breaking the back. Be sure to check out my ebook (link below) if you need help working out a budget.
Mahalo.
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Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, November 24, 2008
Monday, November 17, 2008
Using Budgeting Tools
Using Budgeting Tools
In these tough economic times one needs to spend wisely. The best way to do so is to make a budget and stick to it. Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn’t have to be extremely hard.
Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you’ve paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you’re not missing out on any dues or any deductibles, for that matter.
Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up saving a fraction of what you might have had to spend on a regular purchase.
Lists—whether on a piece of paper, on your cellular phone, or on your personal digital assistant (PDA) will help you keep focused on what you have to buy, and in effect, keep track of the purchases you make. A classic example is your regular grocery trip. Prior to making the trip, plan out the week’s entire menu and identify what food items and materials you need to purchase that are unavailable in your pantry. Then, make a list of other household items that you’ve run out of (or are eventually going to run out of before you can make the next trip to the grocery). Armed with these lists, you can go to the grocery and know exactly where to go and what you’re going to buy. Without these lists, you will walk idly along aisles, and will likely pick up various food items that you won’t likely need in the immediate future, or already have at home.
A filing system is perhaps one of the best budgeting tools you can have in your home. With simple, labeled file folders, you can put together your bills, your receipts, and whatever bank documents are issued to you when you save or pay. By putting together your bills, your credit card receipts, and the like, you are able to keep track of how much you owe and when your payments are due.
Effective budgeting tools are those that best address your needs as a consumer. Create your own budgeting tool or find a program, or a book, (I just happen to have one handy) or some other resource to do it for you—just make sure it suits your lifestyle.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
In these tough economic times one needs to spend wisely. The best way to do so is to make a budget and stick to it. Budgeting your monthly expenses in order to get the greatest return on your income (and perhaps, even put aside some for saving!) doesn’t have to be extremely hard.
Various budgeting programs are available for use. Money management programs provide you with a usual package that allows you to enter your cash inflows and outflows, categorizes your expenditures, and at times, presents to you analysis of your spending behavior. Through these programs you can also input the various payments you have to make monthly, and subsequently track if you’ve paid your dues on time. Moreover, some programs also offer you a tax form draft that will help you make sure you’re not missing out on any dues or any deductibles, for that matter.
Another budgeting tool that you can utilize are coupons. Various stores and magazines contain coupons that you can use to get discounts on various products. Should there be a need to purchase a particular product for which you have a coupon for, you will end up saving a fraction of what you might have had to spend on a regular purchase.
Lists—whether on a piece of paper, on your cellular phone, or on your personal digital assistant (PDA) will help you keep focused on what you have to buy, and in effect, keep track of the purchases you make. A classic example is your regular grocery trip. Prior to making the trip, plan out the week’s entire menu and identify what food items and materials you need to purchase that are unavailable in your pantry. Then, make a list of other household items that you’ve run out of (or are eventually going to run out of before you can make the next trip to the grocery). Armed with these lists, you can go to the grocery and know exactly where to go and what you’re going to buy. Without these lists, you will walk idly along aisles, and will likely pick up various food items that you won’t likely need in the immediate future, or already have at home.
A filing system is perhaps one of the best budgeting tools you can have in your home. With simple, labeled file folders, you can put together your bills, your receipts, and whatever bank documents are issued to you when you save or pay. By putting together your bills, your credit card receipts, and the like, you are able to keep track of how much you owe and when your payments are due.
Effective budgeting tools are those that best address your needs as a consumer. Create your own budgeting tool or find a program, or a book, (I just happen to have one handy) or some other resource to do it for you—just make sure it suits your lifestyle.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, November 10, 2008
Holiday Money Saving Ideas
With the hype that holidays usually bring, people always have the tendency to buy more and spend more without taking into account the consequences that their actions can bring.
Hence, it does not necessarily mean that because it is the holidays you have all the reason in this world to buy whatever you want and spend how much you want. Some people contend that it’s just once a year, so better give what you have. However there are smart ways to spend and still enjoy the fun of gift giving.
The problem is that giving something just for the spirit of the holidays does not mean you have to spend gold. You can still give something that will be deeply appreciated without having to spend more money.
Here’s how:
1. Make a budget and stick to it
The problem with most people is that they find making a budget relatively easy but sticking to it is doubly hard. So what’s the point of making a budget when you do not know how to conform to what you have stated in there?
Making and using your budget should always go hand in hand. Therefore, when you make your budget this holiday season, it is best that you follow the things that are written in it so that you would be able to save more money.
2. Live within your means
Of course, everybody would want to give gifts because that is what the holiday season calls for. However, it does not necessarily mean that you have to spend more than what you can afford.
The trick to saving more money is to always live within your means. Spending more than what you can afford will definitely bring more problems than you can afford to solve.
3. Personalize it!
As they say, it is the thought that counts. Hence, there are no better ways to show how much you have thought of those people this holiday season than making personalized gifts.
4. Shop and compare
It really pays to shop around and doubly better when you compare prices. You will never know which items are better priced than the others are when you do not compare their values.
The point here is that you should not be confined to one shopping portal. Try to look for other items, usually in thrift stores and consignment shops, where you can find the best items at a lower price.
Indeed, shopping for the holidays can be fun, but you don’t have to be spendthrift. Nowadays, you really just have to be practical.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Hence, it does not necessarily mean that because it is the holidays you have all the reason in this world to buy whatever you want and spend how much you want. Some people contend that it’s just once a year, so better give what you have. However there are smart ways to spend and still enjoy the fun of gift giving.
The problem is that giving something just for the spirit of the holidays does not mean you have to spend gold. You can still give something that will be deeply appreciated without having to spend more money.
Here’s how:
1. Make a budget and stick to it
The problem with most people is that they find making a budget relatively easy but sticking to it is doubly hard. So what’s the point of making a budget when you do not know how to conform to what you have stated in there?
Making and using your budget should always go hand in hand. Therefore, when you make your budget this holiday season, it is best that you follow the things that are written in it so that you would be able to save more money.
2. Live within your means
Of course, everybody would want to give gifts because that is what the holiday season calls for. However, it does not necessarily mean that you have to spend more than what you can afford.
The trick to saving more money is to always live within your means. Spending more than what you can afford will definitely bring more problems than you can afford to solve.
3. Personalize it!
As they say, it is the thought that counts. Hence, there are no better ways to show how much you have thought of those people this holiday season than making personalized gifts.
4. Shop and compare
It really pays to shop around and doubly better when you compare prices. You will never know which items are better priced than the others are when you do not compare their values.
The point here is that you should not be confined to one shopping portal. Try to look for other items, usually in thrift stores and consignment shops, where you can find the best items at a lower price.
Indeed, shopping for the holidays can be fun, but you don’t have to be spendthrift. Nowadays, you really just have to be practical.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Monday, November 3, 2008
You Should Still Be Investing
The stock market crashes and immediately all the pundits are screaming that it's the end of the world. You would think that with all the computers, education etc. we have today these air heads would realize that this happens on a cyclical basis and that the market will come back just as strong. So it it imperative that you continue with your long term investing and build your nest egg.
Investing has become increasingly important over the years, as the future of social security benefits becomes unknown.
People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they may be in for a rude awakening when they no longer have the ability to earn a steady income. Investing is the answer to the unknowns of the future.
You may have been saving money in a low interest savings account over the years. Now, you want to see that money grow at a faster pace. Perhaps you’ve inherited money or realized some other type of windfall, and you need a way to make that money grow. Again, investing is the answer.
Investing is also a way of attaining the things that you want, such as a new home, a college education for your children, or expensive ‘toys.’ Of course, your financial goals will determine what type of investing you do.
If you want or need to make a lot of money fast, you would be more interested in higher risk investing, which will give you a larger return in a shorter amount of time. If you are saving for something in the far off future, such as retirement, you would want to make safer investments that grow over a longer period of time.
The overall purpose in investing is to create wealth and security, over a period of time. It is important to remember that you will not always be able to earn an income… you will eventually want to retire.
You also cannot count on the social security system to do what you expect it to do. As we have seen with Enron, WorldCom and others throughout the years, you cannot necessarily depend on your company’s retirement plan either. So, again, investing is the key to insuring your own financial future, but you must make smart investments!
Keep in mind that investing is long term and you should budget smartly to include investing what you can afford.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
Investing has become increasingly important over the years, as the future of social security benefits becomes unknown.
People want to insure their futures, and they know that if they are depending on Social Security benefits, and in some cases retirement plans, that they may be in for a rude awakening when they no longer have the ability to earn a steady income. Investing is the answer to the unknowns of the future.
You may have been saving money in a low interest savings account over the years. Now, you want to see that money grow at a faster pace. Perhaps you’ve inherited money or realized some other type of windfall, and you need a way to make that money grow. Again, investing is the answer.
Investing is also a way of attaining the things that you want, such as a new home, a college education for your children, or expensive ‘toys.’ Of course, your financial goals will determine what type of investing you do.
If you want or need to make a lot of money fast, you would be more interested in higher risk investing, which will give you a larger return in a shorter amount of time. If you are saving for something in the far off future, such as retirement, you would want to make safer investments that grow over a longer period of time.
The overall purpose in investing is to create wealth and security, over a period of time. It is important to remember that you will not always be able to earn an income… you will eventually want to retire.
You also cannot count on the social security system to do what you expect it to do. As we have seen with Enron, WorldCom and others throughout the years, you cannot necessarily depend on your company’s retirement plan either. So, again, investing is the key to insuring your own financial future, but you must make smart investments!
Keep in mind that investing is long term and you should budget smartly to include investing what you can afford.
Mahalo.
******************************************************************
Need to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
******************************************************************
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