Saturday, August 18, 2007

7 Habits of Frugal People

Most frugal people do so by habit more than anything else. By observing the frugal people in my life, I've noticed some common habits; some of them I have and others I'm still trying to cultivate.

1. Turning things off. If you make a habit of walking around your house or office and turning everything off, you can save tons of money and energy because the lights, computers, etc. will be off ALL DAY or all weekend, or however long you're away without any extra effort on your part.

2. Making things. Frugal people make things from scratch, rather than buying more expensive, more packaged, and more processed versions of things. Most truly people I know will look at pins, blankets, or food items and say "Oh, what a good idea. I can do that" and then go home and do it.

3. Comparing prices. Most frugal people have a good idea of how much something should cost before they buy it. If they don't know, they don't buy it until they've figured it out.

4. Waiting. Patience can prevent you from buying things without enough research, or prevent you from buying something on impulse.

5. Strategizing. If you have a plan, you are much more likely to do the frugal thing. Making a careful and creative plan for the resources you have available can help you to spend less money without feeling deprived of anything.

6. Cooperating. If you need a carpet cleaner, and your best friend has one, borrow it. Then when she wants a powerwasher (or string trimmer or anything else you only use occasionally), let her borrow yours. There's no reason to go through the waste of each having your own. Similarly, share magazine subscriptions with friends; they go a lot further that way.

7. Balancing and prioritizing. Frugality is not about deprivation. Truly frugal people know how to reach a balance that makes them feel fulfilled.


SAHMmy Says said...

Great post!
Yay! I'm frugal! I do all of these and am striving to master each. Check out Frugal Hacks for a showcase on What Works For Us--she applies your 7 habits as well, and has a great view re #7: "We save and spend frugally but live abundantly!"

The Conservative Pagan said...

I'm also frugal, but I keep an eye on wall street. Check out my blog....your ideas are very good. I don't post idea's on how to save money so much, but rather links to substitutes for bought items...and ways to save without cutting back on what you need.

Anonymous said...

frugal people are fucking losers...all they care is about money rather than what is important...LIFE. I rather buy a $100 shirt that looks and feel fantastic than a cheap $10 shirt from Walmart. By the way, all the clothes form Walmart comes from overworked young chinese girls working in cramped factories 14-20 hours a day away from their parents and they only make a fraction of the minimum wage here. Instead of buy many cheap items that look ugly and doesn't last long buy something that is high quality and durable. To sum it up, frugal people are just material whores looking for a cheap thrill and bill.

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Frugal Life UK said...

I'm also frugal and save money by@: turning everything off, don't use stand by, buying second hand clothes if they're what I need or like, make my own food, grow my own food, heat my house with waste wood, wash my clothes by hand, dry clothes outside, walk and take the train to work and I don't do all this to save money but to save the planet - peace and love to you all