Understanding the Frugal Lifestyle

By Martin Lukac

If you want to learn how to save money, you might want to consider becoming frugal. It isn't exactly what you are thinking.

Yes, some frugal people hang their laundry to dry on a clothesline. Some make their own soap and crochet plastic grocery bags into doormats. Others find joy in freezing every leftover scrap.

You will find that frugal people take great joy in creative ways to save money. One of the most amazing I've come across is saving the water that runs in the shower as you wait for it to warm up to water your plants or flush your toilet with.

The first lesson of living frugal is to do what works for you. I don't have the time to spend making soap or saving my shower water. You simply have to look at the creative ways you can save money in your own life. For example, simple ways to start include buying a less expensive soap or spending less time in the shower.

You will find that as you start practicing little frugal things, you start looking at the world a little differently. It really is addictive. My household has had a total makeover. I shop differently and use things differently.

Frugal living is an endless process. There is something always new to learn. There is one more penny you can save.

The key is in paying attention to what you spend and where you spend it. You have to track every penny you spend. Look at the trends in your shopping. Commit to not purchasing anything else until you have used up what you have.

For example, I found that I was spending $200 every two weeks for groceries. I was also throwing away food (such as salad) that I bought too much of. Now that I am shopping once a week, that spending is cut in half. And we are eating it all and eating fresher fruits and veggies.

One thing that really works for me is to focus on what is inside my home. It's not about keeping up with the neighbors. That lifestyle will land you in debt and never satisfy you. The more we stay home, the less we spend. We use what we have, not making a shopping trip whenever we feel like it. I've found that years of shopping has led me to be able to complete thousands of projects without ever buying another craft or scrapbooking item. I plan to use everything before I buy anything else.

If you save money on something, don't spend it on something that doesn't matter. You won't ever see the pennies you are saving if you don't put them away. Saving on your groceries may not matter at all if you take the savings and spend them. Put your weekly savings into a jar or savings account or investment. Pay off that debt. Contribute to an IRA. Make those pennies count.

You have to have goals. Why do you want to be frugal? If you don't have a reason to save money, you won't. Work towards your goal every day. And remember -- we are all human. We slip up and buy things we shouldn't. We make financial mistakes. But all you can do is get back on track and deal with it. And look for a new way to be frugal.

Martin Lukac represents http://www.RateEmpire.com

and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

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