How to Make Frugal Living as a Way of Life
Frugal living is not being cheap! I am a staunch advocate of a frugal lifestyle. It is about living better for less. It's a smart way to manage your financial resources. In fact, it is fundamental to cash flow management.
Frugal living can be a way of life. Teach your children a frugal way of life and they will eventually become good managers of their own finances.
A frugal lifestyle can be adopted in practically all aspects of day to day living such as:
- Health care
- Energy Use
- Financial Services
General Practical Frugal Living Strategies
- Keep a healthy lifestyle: healthy diet, adequate sleep, regular exercise, and positive outlook
- Back to basic: natural environment, water therapy, herbal garden
- Go generic: Generic drugs have the same efficacy with pioneering brands
- Have a long term health care plan just in case you live too long
- Plan meals: Prepare weekly or even monthly menus
- Cook at home: Eating out is costly
- Go natural: Plant your own vegetables
- Go for fruits and vegetables in season
- Minimize spoilage:Practice First In, First Out
- Buy in bulk
- Have a grocery list on hand to avoid buying on impulse
- Buy on sale: Stockpile if feasible
- Switch to generic: Consider substitution of ingredients
- Pay bills on time: Avoid penalties
- Buy energy savings appliances
- Make it a habit to unplug and put off gadgets when not in use
- Use energy saver gadgets
- Be financially literate: Become your own financial advisor
- Pay higher interest debts first
- Take advantage of "free" money: Optimize employer retirement plans
- Optimize tax credits
- Plan your travel: Prepare a budget and save for it.
- Research and compare prices:flights, hotels, travel agencies
- Be alert of travel promos
- Travel light: Put personal necessities such as shampoo, toothpaste, lotion, etc in small containers
- Don't be picky on food and accommodation
These are just among the ways you can cut down costs of maintaining a household. You can look into other innovative ways of frugal living yet still enjoy life to the fullest.
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