The American mindset today is “the bigger the better.” “The more it costs, the more it is worth.” “Take it now and pay later.” These ideas just aren’t smart. Our government is a prime example with our national debt at all times record high, which no one can pay.
Living frugally does not mean choosing poverty, and it certainly does not mean giving up quality. Many millionaires are millionaires not because they became famous or because they inherited money. They are self-made millionaires who worked hard, made sacrifices, and chose to spend their money wisely. I’m not saying that all of us who work hard, make sacrifices and spend our money wisely will become millionaires, but of course we can live much more comfortably and carefree from the stress of someone else’s debt paying wages .
Here are the things you can do to extend that page list:
1. Pay cash. If you can not afford it, do not buy it. Stop using those credit cards. Credit cards are a trap. The only way to use a credit card is to repay it in full each month. Otherwise cut it! Charging something on a credit card and then paying for it over time ends up costing you double, sometimes even triple the original cost of the item. It would be better to save a few months and pay cash, then charging and those trying to pay the credit card. Interest eats.
2. Eat at home. Pack your lunch and take it to work. Eating lunch abroad costs from 10 to 15 dollars a day. If you pack your lunch, reduce that cost to about $ 2 – $ 3 per lunch or even less if you are throwing leftovers home. This is a saving of 160 – 240 dollars per month. Not to mention, if you cut out eating out during dinner time and eat at home as a family. This is an additional savings of over $ 200 per month.
3. Compile a budget. Budget your income at the beginning of each month. Assign a certain portion of your income to your main expenses ahead of time. This will help ensure that you do not lose money. (The main expenses are: Rent / Mortgage, utilities, food, car payments, gas, insurance, savings, miscellaneous.) This helps you know what goes where and how much has left you ultimately paid in order to do not spend more than the amount.
4. Buy used or discounted new ones. You can get everything you need either used or new at a discount. You just have to know where to look. Do not pay the full price for anything. Big Lot’s, Ross Dress for Less, Nike Outlet, The Dump, etc. are just examples of stores where you can get new items at a discount. These stores also have sales and coupons on new discounted items. Garage sales, furniture rental centers, florist shops and in this day and age, the internet is a wonderful resource. eBay is a great tool for new and used items. You will be amazed at what you will find and how cheap it is once you start looking. No one will know the difference. You will become addicted!