Frugal Spending Ideas
In order to live a thrifty life, you need to know more than just that you need to save money. It is also essential that you spend your money wisely. Consider the following ideas about what a frugal person can do with the money that they have worked hard to save.
Make a list of your needs, wants and desires when it comes to your finances. Include any estimates that you may have (or use guesstimates if you have nothing tangible to go on). Be sure that you number them in the order of importance. Then start tackling your dreams one at a time.
Paying more than the minimum payment on your mortgage each month or even just making one additional payment each year could mean that your mortgage gets paid off in half the time that it would if you always paid the minimum. Doing so will also save you lots of money in interest. When you make such additional payments, make sure that the money is being deducted from you loan's principal. Once you have the mortgage paid off, you can use the money you were accustomed to spending on that on whatever else you want.
Money you have been saving can be spent on home repairs and projects that you have long wanted to do. Some such projects might be simple, do-it-yourself jobs while others will require that you hire a professional. Money spent on making your home more beautiful will certainly be well spent.
Get a new pre-owned vehicle. If your existing car is still in good condition then pass on your blessings by donating it to a charity or church or giving it to someone you know needs it. Keep in mind that purchasing a new vehicle will mean an increase in insurance premiums, so be sure to figure that into your budget.
Go on a dream vacation. If you plan your trip during the off season, you will be able to do more with less money and thus enjoy your vacation even more than you normally would.
While it is important to save your money for a rainy day and to prepare yourself for the future, part of the frugal lifestyle is also about enjoying the life that you have. This means that you shouldn't be afraid to set aside money that will be used to pamper, reward, or indulge you in some way.
Using the money that you have saved to congratulate yourself will be a great boost to keep on saving and living frugally.
Make a list of your needs, wants and desires when it comes to your finances. Include any estimates that you may have (or use guesstimates if you have nothing tangible to go on). Be sure that you number them in the order of importance. Then start tackling your dreams one at a time.
Paying more than the minimum payment on your mortgage each month or even just making one additional payment each year could mean that your mortgage gets paid off in half the time that it would if you always paid the minimum. Doing so will also save you lots of money in interest. When you make such additional payments, make sure that the money is being deducted from you loan's principal. Once you have the mortgage paid off, you can use the money you were accustomed to spending on that on whatever else you want.
Money you have been saving can be spent on home repairs and projects that you have long wanted to do. Some such projects might be simple, do-it-yourself jobs while others will require that you hire a professional. Money spent on making your home more beautiful will certainly be well spent.
Get a new pre-owned vehicle. If your existing car is still in good condition then pass on your blessings by donating it to a charity or church or giving it to someone you know needs it. Keep in mind that purchasing a new vehicle will mean an increase in insurance premiums, so be sure to figure that into your budget.
Go on a dream vacation. If you plan your trip during the off season, you will be able to do more with less money and thus enjoy your vacation even more than you normally would.
While it is important to save your money for a rainy day and to prepare yourself for the future, part of the frugal lifestyle is also about enjoying the life that you have. This means that you shouldn't be afraid to set aside money that will be used to pamper, reward, or indulge you in some way.
Using the money that you have saved to congratulate yourself will be a great boost to keep on saving and living frugally.
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