The following is a Guest Post
In a perfect world, everyone would practice frugality like it was a religion. Why? The benefits range way beyond each individual and extend across continents, affects the environment and the economy. More and more people are taking stock in this economy and realizing they can live a fulfilling life with less, not more.
Strategies For A Frugal Lifestyle
The word “frugal” might be a little intimidating, but all it means is being more economical, taking advantage of sustainable practices and embracing a minimal lifestyle. There are many strategies and options available to those looking to cut expenses, save money or just wanting a simpler and less stressful life. The underlying philosophy can be summed up by the statement, “More isn’t always better.”
Here are some strategies you can utilize to start living a more frugal life:
- Reduce your credit card debt. This is probably one of the biggest hurdles you can face when looking to downsize. One strategy is to evaluate the best credit card deals, choose the best one for your situation and taking advantage of 0% balance transfer credit cards and consolidating all your credit cards into one payment. Pay as much as you can on the principal every month, and you’ll get the balance down faster than you think.
- Consider alternate forms of transportation. If you are lucky enough to live in an area with public transportation, utilize it. You will save wear and tear on your car, save in gas money, and may qualify for a discount on your car insurance.
- Have a 24 hour “cool off” before purchasing big ticket items. When you feel the urge for the latest technological gadget, a bigger television or an upgrade on appliances, wait a day and see if you still feel the same. You might want it, but a want is much different from a need. Take a day and sleep on it.
- Re-use, recycle, re-purpose. Take it easy on your wallet and on the environment. Re-use something if you can, or donate to someone else. Recycle grocery bags, plastic, metal and paper. Instead of throwing something away, use your imagination and creativity and re-purpose that dresser into a potter’s station, for example.
A frugal lifestyle doesn’t mean going without. It means focusing on what you have and not on what you don’t have. Extend this philosophy to other aspects of your life, including downsizing your home, car, cable package, grocery bill. If everyone was frugal, there would be less strain on the environment and a lot less stress to deal with on a daily basis. Give it a try – you really have nothing to lose.