Frugal Tips

These frugal tips will help you to see the big picture when it comes to getting the most out of your resources. Let's engage frugality from different angles; starting with debt.



Live Debt Free

A frugal life is a debt free life. Living debt free is very practical and realistic. But, for many it requires a change of mind and perspective. You can live debt free, but you must plan and determine to make choices that fit a debt free way of living.

A person with the debt free mindset does not seek to obtain the most they are allowed to as long as they keep up with the interest-inflated payments, but instead what they are able to pay for in cash. They get down to the basics and think of what they need and can afford at the time instead of giving in to the desire for instant gratification.

He or she also realizes that financing and using credit in order to accumulate stuff leads to remorse, stress, slavery, and only temporary pleasure. It won't be long before the items we couldn't live happily without lose their sparkle and we come down from the emotional high. When that happens, we get the urge to go shopping and take another hit.

If you see an investment or are willing to take one temporary leap into debt because you have a bigger picture plan that takes you quickly or subsequently to an overall debt free goal, that's your decision. But, you should strive to maintain the mentality (with as little tolerance for debt as you can muster) that you can live and enjoy your life without debt.

Our first home was a foreclosure so it was an investment. We got a mortgage loan like the average person. This was before we were all about being debt free, but we were still very frugal. To be honest, we bought the house because it was cheap (though in good condition)
and affordable for our modest income.

However, we quickly realized that it would turn a good profit when it came time to sell. Now, a few years later, we look forward to the near future when we will see that return come into fruition. So, unlike the average person who buys a house, we will end up right-side-up instead of upside-down with our home. What I mean is that the total of what we will owe on the house plus the interest paid will be less than what the house will sell for.

The debt free mentality drives you to rethink your purchases, to wait until you can afford to pay cash, and to get more creative with what it takes for you to meet your needs. Are you willing to invest (live very frugally) now so you can have an improved future?

The Big Picture: The Interest Money Pit

Buying things on credit or with a loan and paying monthly payments with interest is a money pit that has drained and strained the financial and emotional resources of many families. Take a good look at all of your debt and think about the impact it has on your finances.

Frugal Tips: Big Picture

• Buy the smallest and lowest price home you can.
• Buy the lowest price vehicle you can.
• Wait as long as you can, while saving as much money as you can, to pay cash for all or most of a house/vehicle.
• Bring needless shopping to a HALT! Look at what you own with different eyes. Stop thinking about what you want and don't have, and the shiny, brand new items you could so easily obtain by simply paying "only $29" every month. (For that amount you could invest in an internet business like mine.) Be content and even downgrade where possible.


• Money management tips

Frugal Tips: Money Saving Ideas

Now that we've covered the large basics of being frugal, let's apply the small basics. Frugal tips for everyday life will have you saving a little here and there for significant, cumulative savings.

Go to Money Management Tips from Frugal Tips

Go to Money Saving Ideas from Frugal Tips

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