Posted on 03/05/2025 9:26:39 PM PST by aquila48
In today’s economy, being frugal isn’t just a choice; it’s a necessity for many. This article illuminates specific areas where frugal people typically avoid spending. By understanding these spending habits, readers can learn not only to save money but also to prioritize expenditures that contribute to long-term financial health and well-being.
- Brand New Vehicles
- Expensive Coffees and Daily Takeouts
- Extended Warranties and Unnecessary Insurance
- Latest Tech Gadgets
- High-End Clothing Brands
- Trendy Diets and Fitness Fads
The Art of Spending Wisely....
(Excerpt) Read more at yourmoneytoday.net ...
Six things listed...
Just wanted to add my 2 cents (LoL no pun intended) ;
Frugal = good. And the things above seem like worth passing up on to a universal degree!
Stingy = bad
_____________
Merriam Webster:
frugal. adjective. fru·gal ˈfrü-gəl. : careful in spending or using resources.
stingy: not generous : giving, using, or spending as little as possible
It is good to have a household budget. And it is good to track your spending, just as a business tracks spending and compiles monthly financial statements.
Negotiating this if you have a spouse can be difficult. He or she may have his or her own ideas of how to spend money.
And it is good to have line items in the budget for savings. Ideally there will be a line item for retirement savings, and another for general savings.
That about covers it except for; pay cash, separate want from need.
The Micawber Principle, derived from Charles Dickens' character Wilkins Micawber in "David Copperfield," is a financial concept that emphasizes the importance of living within one's means.
According to the principle, if your annual income is twenty pounds and your annual expenditure is nineteen pounds and sixpence, the result is happiness; however, if your expenditure is twenty pounds and sixpence, the result is misery.
Annual income twenty pounds, annual expenditure nineteen
pounds nineteen and six, result happiness. Annual income
twenty pounds, annual expenditure twenty pounds ought and
six, result misery."- Wilkins Micawber in Charles Dickens' David Copperfield
Here I sit frugal and I thought I was cheap.
I scored 100% on the suggestions and many more not suggested. That is why if I and my wife want to go to a fine restaurant on occasion we will and care not the expense, my house is paid for, my cars are bought cash from a car rental agency while they are still in warranty and our retirement accounts are flush. I owe no money to any entity except government taxes. This was done on an upper middle class income from assets of zero post divorce at 40 years of age. Divorce is expensive.
I pay by cash back credit card which I have set to pay in full every month. Its not huge but conservatively, I save between $500 and $1000 per year that way.
I also only get YouTube TV for 4 months a year during college football season. You don't need cable TV the rest of the year. Between Youtube/Rumble and what I download from torrents sites, you are spoiled for choice as is.
I not only don't get take out. I very rarely eat at restaurants at all. I like to cook. Its healthier anyway.
I switched my data plan for my phone from AT&T ($82 per month) to Charter ($27 per month) for the same unlimited plan. I have never noticed the slightest difference in quality. The $55 in savings per month is nice.
That I've listed above is a savings of at least a few thousand per year. Not earth shattering, but its nice and it doesn't lower my standard of living in any way.
Until recently, we were getting the Hello Fresh meal kits at $69 every two weeks for three meals. I canceled that and started making a weekly menu.
We were also ordering on Uber once every one or two weeks.
Now, I try to cook things that we can have for two nights in a row, because I don’t like to cook much. If I can cook enough to freeze for an extra meal, that’s even better.
So far, we’ve spent $50-60 on groceries each week. This week, our weekly groceries were $30.48—and we even had steak.
I figure we’re spending half of what we were spending before.
I use Quicken and have it connected to all of our checking, savings, line of credit, and credit card accounts. All the at a flows into one hub. I’ve created a lot of categories to fit our spending. It is really good to see all the income and outgo in one place. The reporting is really good, too.
I’ve been using it in retirement to make sure we are keeping our spending under control. I wish I had started using it years ago when I was working.
A couple years ago, I bought a wok, some oyster sauce, and fish sauce. I buy value packs of chicken thighs when they are on sale and split them into 8 ounce portions. I chop the meat, vacuum pack them, and freeze them. It’s real simple to shop up some carrots, bell peppers, garlic and onion and stir fry them with the thawed chicken in a simple homemade stir-fry sauce. Make some rice and it’s a great meal. I can make lots of variations on that simple recipe, too.
I bought a sous vide machine and tenderize cheaper steak cuts like flank with a fork and let it marinade overnight in homemade marinade. Six hours in the water bath, then a quick sear on all sides on a hot cast iron frying pan and you have a wonderful steak dinner.
My wife and I are both 80. We buy anything we want if we can afford it.
Hookers wasn’t on the list...
- books by Hillary, Bill, et al.;
- contributions to the DNC.
Regards,
thanks, interesting
I disagree on the not buying new cars. The last several times I’ve bought vehicles I’ve found that used ones were priced almost as high as I could negotiate for a new one. People seem to think a car increases in value if it’s been driven by them for three years. I’d much rather have a new car with zero miles and a full warranty than a three year old one with 50k miles for $3000 less. The small savings isn’t worth the decreased lifespan.
Yeah, me too. Kept the recipe cards, you can find them on-line too.
“Copycat Recipes” by Lina Chang. It gives you the recipes for everything from Applebee’s Bourbon Street steak to Olive Gardens Zuppa Tuscano, many other franchise signature dishes and desserts. A lot cheaper than going there, tip yourself.
And consider a small air fryer oven, Oster makes a good one. Heats faster, less energy, doesn’t take up more space than a good microwave. whew lad
I took a Home Economics course in Junior High that wasn’t about training a housewife - it was home economics.
The teacher simplified it thus:
1.What one wants
2.What one can get by with
3.Consider the middle your target
4.Earn at least 10% more than the middle. That’s for savings, investments and insurance (the Iffys).
5.Save to pay with cash to avoid enriching credit industry
6.You’ll never buy happiness or TIME so adjust values and expectations accordingly.
and whispered “Get a pre-nup”.
I use an online outfit here in Italy called "Vinted," where you can buy mostly clothes for pennies on the dollar. Just nabbed two pairs of almost new Levis, two beautiful designer wool suits,a summer linensuit and a gorgeous, vintage leather jacket - all in perfect condition - for a grand total of. . . $90.
I almost never buy new things, and I never buy on credit. If I don't have the cash, I don't buy it. Very nice waking up every day without the Debt Sword hanging over my head. It equals Freedom.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.