frugal lifestyle http://www.wisebread.com/taxonomy/term/17469/all en-US 6 Kinds of Critics Every Frugal Person Meets http://www.wisebread.com/6-kinds-of-critics-every-frugal-person-meets <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-kinds-of-critics-every-frugal-person-meets" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-667652764.jpg" alt="Learning about the kinds of critics every frugal person meets" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>As someone who enjoys living a frugal lifestyle, you will meet a myriad of people on your quest to save a buck. Some are great. Others, well, not so much. But they can all be identified by their common traits. Here are six types of frugal critics you are guaranteed to come across on your money-saving adventures.</p> <h2>1. The cheapskate</h2> <p>There is a big difference between someone who is frugal, and <a href="http://www.wisebread.com/6-signs-youre-not-frugal-youre-cheap" target="_blank">someone who is cheap</a>. Frugal people are generous. They spend money. They just like to get a lot of bang for their buck, and they don't like to pay full price if they can avoid it. Cheapskates, on the other hand, are real scrooges. They don't spend money. They don't like to share. They nickel-and-dime you on everything. And they think you're both the same.</p> <h2>2. The favor hound</h2> <p>You're frugal. You're good at it. And the favor hound knows it. That's why they're always bugging you to help them get deals. Morning, noon, and night, they have no qualms about texting you to find an online coupon for a new pair of sunglasses. They want you there when they're buying a car. They insist on speaking to you before buying, well, anything. At first, it can be flattering. But after a while, it wears you down, until you stop answering their calls and duck behind the cheese display when you see them in the grocery store.</p> <h2>3. The bill splitter</h2> <p>They have money, they like to spend it, and they really don't care what you think. This is all well and good when they're spending their own money, but when you're doing anything together, it becomes a nightmare. Go on vacation with them, and they want the best hotel room, in the fanciest part of town, with all the bells and whistles. Eating out, they'll order the steak and lobster when you order soup and a salad, and yet they want to split the bill right down the middle. They ask you to go halves on a birthday gift for a coworker, and then buy an iWatch that costs $300. You have to set strict limits with a bill splitter, or they'll go crazy with your cash. (See also: <a href="http://www.wisebread.com/10-money-saving-habits-you-should-never-apologize-for?ref=seealso" target="_blank">10 Money-Saving Habits You Should Never Apologize For</a>)</p> <h2>4. The one-upper</h2> <p>You may be good at saving money, but the one-upper will beat you every time &mdash; and they'll make sure you know about it.</p> <p>&quot;Oh, you got that watch for 70 percent off, huh? Well guess what, I got two of those last week for a buck. In fact, the store paid me to take the watches off their hands.&quot;</p> <p>If you save money, they save more. If you get something for nothing, they get twice as much for even less. For some reason, the one-upper seems to think that you actually care about all of this. But you don't. You're saving money, and you're doing just fine. If they really are saving more (and it often feels like a bunch of exaggerations) then good for them.</p> <h2>5. The shamer</h2> <p>Maybe it's a little envy, or maybe you make this person feel uncomfortable, or even guilty. But whatever the reason, &quot;the Shamer&quot; is quite vocal about your frugal ways, especially around friends and gatherings.</p> <p>&quot;Oh, don't ask this one to get the drinks, they'll probably come from the dumpster out back!&quot;</p> <p>&quot;Word of warning, Scrooge over here won't want to split the check.&quot;</p> <p>This is, of course, not accurate. Frugal people are careful with their money, but not misers. It won't stop the shamer from making you feel like you'd sell your grandma for a buck, though.</p> <h2>6. The tempter</h2> <p>If you're on a diet, there will always be someone egging you on to slip and have a bite of chocolate cake. If you're quitting alcohol for the month, someone will encourage you to have &quot;just one.&quot; The same applies to the frugal shopper. You will have that friend who wants you to splash out, because it makes them feel better about their own purchases.</p> <p>&quot;Come on, let's go out to eat at lunchtime, leave your packed lunch in the fridge.&quot;</p> <p>It can be very easy to accept their offers, but it's a slippery slope. Stay strong, and stick to your frugal guns.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/6-kinds-of-critics-every-frugal-person-meets">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-too-many-decisions-costs-you-money">Here&#039;s How Too Many Decisions Costs You Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-one-nice-thing-can-ruin-your-whole-budget">How One Nice Thing Can Ruin Your Whole Budget</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-living-on-a-tight-budget-makes-you-happier">How Living on a Tight Budget Makes You Happier</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-goals-you-should-set-for-the-holidays">10 Money Goals You Should Set for the Holidays</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-5-money-saving-hacks-are-a-huge-waste-of-time">These 5 Money-Saving Hacks Are a Huge Waste of Time</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living cheapskate frugal lifestyle frugal people haters people you'll meet saving money shopping Spending Money Tue, 02 May 2017 08:00:11 +0000 Paul Michael 1938293 at http://www.wisebread.com 10 Money-Saving Habits You Should Never Apologize For http://www.wisebread.com/10-money-saving-habits-you-should-never-apologize-for <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-money-saving-habits-you-should-never-apologize-for" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-165507219.jpg" alt="Woman not apologizing for money-saving habits" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>You are what you buy. At least, this is what our prevailing consumerist culture would like us to believe. We are being sold the idea that frugality is the opposite of prosperity, not a major component of financial stability.</p> <p>The only way to counter this mindset that frugality is synonymous with suffering is by living a happy and successful life. There is no shame in financial responsibility. Let's fight the spendthrift masses, and champion these 10 frugal habits.</p> <h2>1. Living Within Your Means</h2> <p>Sad but true, most Americans would rather struggle with credit card debt than admit that they &quot;can't afford it.&quot; Only you can live your life. Your friends are not going to fund your retirement housing or pay for your children to attend college. Don't let <a href="http://www.wisebread.com/is-peer-pressure-keeping-you-poor?ref=internal" target="_blank">peer pressure keep you poor</a>.</p> <h2>2. Paying Your Own Way</h2> <p>Splitting the dinner bill can be anxiety-inducing, especially if you go out with drinkers who underestimate their bar tab. If you aren't comfortable with supplementing your friends' entertainment or laying down the math on habitual freeloaders, ask the server for a separate bill. There is no shame in paying only what you owe.</p> <h2>3. Ditching Your Car</h2> <p>Public transportation is a great equalizer. At least in places like New York or San Francisco with excellent metro systems, that is. However, in places like Los Angeles or Houston, living without a car can carry a social stigma.</p> <p>Numerous studies from around the world have shown that car commuters have higher levels of stress and social isolation than commuters who use public transportation, bike, or walk for their work commutes. Experiment with different transportation options. Your wallet and your health will thank you.</p> <h2>4. Negotiating the Price</h2> <p>Although haggling is an accepted and even expected activity in many cultures, negotiating a better price is frowned upon in the United States.</p> <p>Luckily, you don't have to be a wheeler-dealer to ask, &quot;What is the best price for this?&quot; You would be amazed at what you can get from asking that simple question.</p> <p>Not everyone is a natural haggler. Luckily <a href="http://www.wisebread.com/8-negotiating-skills-everyone-should-master?ref=internal" target="_blank">negotiation is a skill</a> that can be learned. Alternately, if you are like me and hate to haggle, bring along a friend who loves to negotiate as your purchasing agent when you need to buy a car or shop at a swap meet.</p> <h2>5. Working a Job Below Your Talent and Ability</h2> <p>I have a friend who is a sex worker. When people find out what she does for a living they always want to know, &quot;Isn't that job degrading?&quot; Her response: &quot;I have had many jobs &mdash; like working fast food and teaching school as an adjunct professor &mdash; that were more degrading, and paid a lot less.&quot;</p> <p>One of my neighbors is wildly over educated for his job as an <a href="http://www.wisebread.com/how-to-earn-extra-money-driving-for-uber-or-lyft?ref=internal" target="_blank">Uber driver</a>. But, he doesn't let his vanity get in the way of working long hours at his side gig. He loves his career and is working a second job because he is saving up for a baby. He wants to be a father more than anything, but doesn't want to start his life as a dad with debt.</p> <p>It's not a dead-end job if the wage gives you more choices.</p> <h2>6. Raising Your Kids With No Added Magic</h2> <p><a href="http://www.huffingtonpost.com/bunmi-laditan/im-done-making-my-kids-childhood-magical_b_5062838.html" target="_blank">Bunmi Laditan's viral blog post</a> argues that you do not need to spend money to make your kid's life magical, because childhood is already inherently magical. Don't believe her? Consider this: American children comprise 3% of the world's population, yet they consume 40% of the toys produced. Where do the world's happiest children live? <a href="http://jacobsfoundation.org/publication-entries/where-do-the-happiest-children-live/" target="_blank">According to an international survey</a> by The Jacobs Foundation, not America.</p> <p>If you opt out of the consumer arms race as a parent, you not only save money for your family's future, you also teach your children by example that they don't have to rely on material goods to enjoy a fulfilling life.</p> <h2>7. Avoiding Parenthood</h2> <p>Kids are expensive. According to the U.S. Department of Agriculture, it costs, on average, over $245,000 to raise a child from birth to age 18.</p> <p>Parenting is a job that ends when you die and doesn't offer paid sick leave or vacation days. Those people who are pushing you to have kids aren't going to pay your bills or be the primary caregivers of your offspring. You don't owe your parents grandchildren.</p> <p>Not everyone needs to experience the joys of parenthood. If you don't have a burning desire to bear children, don't. Leave that emotional and financial responsibility to the people who really want kids.</p> <h2>8. Shopping Secondhand</h2> <p>An easy way to reduce your carbon load is to buy secondhand goods. By purchasing used goods, you take fewer virgin resources out of the planet. It's also a great way to save money. A lot of money. (See also: <a href="http://www.wisebread.com/how-i-saved-30000-and-helped-the-earth-at-the-same-time?ref=seealso" target="_blank">How I saved $30,000 and Helped the Earth at the Same Time</a>)</p> <p>I started buying used goods at garage sales and thrift stores as a child. My allowance was small, so I had to figure out a way to make my money go further. My shopping habits were initially totally embarrassing to my mother (which was then just another perk of buying used). She believed only poor people shopped at thrift stores, and I somehow my used purchases were a betrayal of my middle-classness. (See also: <a href="http://www.wisebread.com/7-ways-pride-is-keeping-you-poor?ref=seealso" target="_blank">7 Ways Pride Is Keeping You Poor</a>)</p> <p>My mother did a 180 on thrift shopping when she discovered that I bought an Hermes scarf for $20 at The Salvation Army Store. Who shops at thrift stores? A lot of poor people. But, who can afford to donate their surplus to thrift stores? A lot of rich people.</p> <h2>9. Trash Picking</h2> <p>I paid for two entire years of my life by <a href="http://www.wisebread.com/from-dumpster-diving-to-garage-sales-turning-trash-into-cash?ref=internal" target="_blank">trash picking items</a> left on the curb by my neighbors and selling those same items at garage sales&hellip; back to my neighbors. Trash picking helped me earn enough money to buy a house in Los Angeles at the ripe old age of 28.</p> <p>From soda cans to midcentury furniture, people in this country throw away a tremendous amount of valuable goods. Why is getting a 100% discount on something you want ever a bad deal?</p> <h2>10. Celebrating Your Imperfect Lifestyle</h2> <p>To quote John Steinbeck, &quot;And now that you don't have to be perfect, you can be good.&quot;</p> <p>Don't let perfectionism rob you of your money and your life. An authentic life does not look like a Pinterest feed. Don't let the curated world of social media trick you into believing that you are the one person who isn't wearing artisanal work boots or tastefully furnishing their immaculately clean home with Pendleton blankets and reclaimed barn wood. <a href="http://www.wisebread.com/the-real-reason-we-still-spend-to-impress?ref=internal" target="_blank">Herd behavior</a> is a hard habit to break, but consider what people who live outside of the norm are called: innovators and trendsetters. Live the life you actually enjoy, not the life that other people claim will make you happy.</p> <p>The hardest part about living frugally is often the social component. If your cohort is all wannabe Joneses, then your sustainable lifestyle is not going to get a lot of validation. Seek out people who will applaud your frugal values.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/10-money-saving-habits-you-should-never-apologize-for">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-frugal-fall-getaways-you-can-start-packing-for-now">10 Frugal Fall Getaways You Can Start Packing For Now</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-money-lessons-to-take-from-the-great-depression">9 Money Lessons to Take From the Great Depression</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-perks-of-being-in-your-20s">The Financial Perks of Being in Your 20s</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-personal-finance-skills-everyone-should-master">12 Personal Finance Skills Everyone Should Master</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-frugal-hacks-for-single-living">10 Frugal Hacks for Single Living</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living budgeting clipping coupons don't apologize frugal habits frugal lifestyle saving money sorry Mon, 27 Feb 2017 10:00:13 +0000 Max Wong 1898302 at http://www.wisebread.com The NFL's 5 Most Frugal Players http://www.wisebread.com/the-nfls-5-most-frugal-players <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-nfls-5-most-frugal-players" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/american-football-iStock_000033233020Small.jpg" alt="american football" title="american football" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Professional football players are among the highest-paid people in America, and yet the story of the bankrupt NFL retiree is so common it's become a stereotype. Sports Illustrated reported that 78% of former <a href="http://www.si.com/vault/2009/03/23/105789480/how-and-why-athletes-go-broke">NFL players experience financial hardship</a> after just two years of retirement.</p> <p>That's no great wonder, when you read about rampant spending of newly rich players, like Chad Ochocinco spending $100,000 for his own <a href="http://bleacherreport.com/articles/775852-7-most-ridiculous-purchases-in-nfl-history/page/2">personalized semi truck</a>. Other players lend to friends and family who see their new salaries as limitless lending accounts, or, as inexperienced investors, sink money into ventures that never pay off.</p> <p>So it's refreshing to hear these five players &mdash; well compensated all &mdash; talk about gas mileage, retirement accounts, and distinguishing &quot;needs&quot; from &quot;wants.&quot; Read on to see who makes the list of the NFL's Most Frugal.</p> <h2>1. Aaron Rodgers</h2> <p><strong>Team</strong>: Green Bay Packers</p> <p><strong>Position</strong>: Quarterback</p> <p>As one of the NFL's top quarterbacks, Rodgers earns about <a href="http://www.forbes.com/profile/aaron-rodgers/">$22 million a year</a> in salary and endorsements. Yet he lives in a relatively ordinary &mdash; <a href="http://www.celebrityhousepictures.com/aaron-rodgers.php">some might even say ugly</a> &mdash; home in a suburb of Green Bay. He <a href="http://www.usatoday.com/story/sports/nfl/packers/2013/06/09/quarterback-aaron-rodgers-q-and-a-mike-mccarthy-/2404843/">mows his own lawn</a>, shops at Piggly Wiggly, and likes to hang out at a modest-looking place called Chives Restaurant.</p> <h2>2. Giovani Bernard</h2> <p><strong>Team</strong>: Cincinnati Bengals</p> <p><strong>Position</strong>: Running Back</p> <p>Bernard signed a $5.253 million dollar contract in 2013, plus a $2.2 million signing bonus &mdash; hefty for a rookie. But instead of buying a custom Hummer with his first paycheck, he <a href="http://sports.yahoo.com/blogs/nfl-shutdown-corner/giovani-bernard-lives-simple-rookie-life-including-driving-223332867.html">drives a minivan</a> he borrowed from his girlfriend's mother. He lives in a modest apartment near the stadium.</p> <p>Bernard knows how unexpectedly hard times can turn life upside down. After his mother died when he was a child, Bernard lived with his father, who owned a dry cleaning business. But when Bernard was in high school, his dad lost the business &mdash; and the two <a href="http://www.providencejournal.com/sports/patriots/content/20141004-trip-to-foxboro-reunites-giovani-bernard-with-friend-who-once-provided-a-home.ece">lost their home</a>. Bernard moved in with the family of his best friend, James White, now a <a href="http://projostats.projo.com/fb/playerstats.asp?id=27658&amp;team=17">running back for the New England Patriots</a>.</p> <h2>3. Antonio Cromartie</h2> <p><strong>Team</strong>: Arizona Cardinals</p> <p><strong>Position</strong>: Cornerback</p> <p>After <a href="http://www.newsday.com/sports/football/jets/antonio-cromartie-an-unlikely-mentor-for-younger-players-dealing-with-financial-issues-1.5386541">blowing an estimated $5 million</a> in his first two years playing football on nine (NINE!!) cars, lavish jewelry, and two homes, Cromartie realized he had spent everything he had coming to him. Instead of spiraling into debt, though, Cromartie wised up, sold the excess stuff, and bought a Prius.</p> <p>&quot;I'll fill it up every two and a half weeks or so, and I'm only spending 33 bucks, while everybody else is spending 80 or 90 bucks a tank,&quot; he told Newsday. &quot;Right now, I'm all about saving money.&quot;</p> <p>He'll need it: Cromartie is the father of 10.</p> <p>Cromartie now has his retirement account fully funded through age 100, and he advises younger teammates on how to avoid making the same mistakes he did.</p> <h2>4. Rod Smith</h2> <p><strong>Team</strong>: Denver Broncos (retired)</p> <p><strong>Position</strong>: Wide Receiver</p> <p><a href="http://www.forbes.com/sites/aliciajessop/2012/10/31/not-broke-how-nfl-players-stay-financially-stable-after-the-game-ends/">Smith told Forbes</a> that he lives well in retirement because he always kept his post-NFL life in mind during his playing days, which led him to avoid spending like some of his teammates did: &quot;The most luxurious thing I bought was my house. I wasn't a big jewelry or car guy. I don't have Ferraris and Bentleys. I had a motto that I lived by, 'There are two places I want to look good at: home and practice.'&quot;</p> <h2>5. Prince Amukamara</h2> <p><strong>Team</strong>: New York Giants</p> <p><strong>Position</strong>: Cornerback</p> <p>Amukamara isn't just a professional football player, he's also <a href="http://sports.yahoo.com/blogs/shutdown-corner/outside-game-prince-amukamara-royal-lineage-explains-name-205803570&mdash;nfl.html">Nigerian royalty</a>. Really. And no, he didn't email me about how I could get $100,000 if only I helped him transfer some money.</p> <p>Despite his paycheck and his pedigree, Amukamara isn't a wild spender.</p> <p>Back in 2011, just after leaving the Nebraska Cornhuskers for the NFL, he tweeted that he was &quot;<a href="https://twitter.com/PrinceAmukamara/status/136273464746184704">looking at getting a good deal at Husker Auto</a>.&quot; Apparently he proceeded directly to the <a href="http://www.budgetinginthefunstuff.com/prince-amukamara-a-frugal-football-rookie/">used car section</a> and successfully bargained for a lower price on an SUV by paying cash.</p> <p>A subsequent <a href="http://www.reddit.com/r/nfl/comments/2d5zh7/i_am_prince_amukamara_new_york_giants_cb_and/">&quot;Ask Me Anything&quot; session on Reddit</a> revealed more signs of Amukamara's frugal nature. He said the most common mistake NFL rookies make is &quot;Spending their money on 'wants' and not 'needs'.&quot; He also said that his favorite place to visit when he plays in California is In-N-Out Burger, where meals are under $10.</p> <p>Being thrifty is not the same as being a tightwad, though. Amukamara once spent<a href="http://www.sportsmedia101.com/newyorkgiants/2012/07/20/new-york-giants-prince-amukamara-donates-10000-to-nebraska-high-school-football-program/"> $10,000 outfitting a Nebraska high school football team</a>.</p> <p><em>Have you heard any tales of frugal-minded sports stars? Please share in comments.</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-nfls-5-most-frugal-players&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%2520NFLs%25205%2520Most%2520Frugal%2520Players.jpg&amp;description=The%20NFLs%205%20Most%20Frugal%20Players"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%20NFLs%205%20Most%20Frugal%20Players.jpg" alt="The NFL's 5 Most Frugal Players" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="http://www.wisebread.com/the-nfls-5-most-frugal-players">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-saving-too-much">Are You Saving Too Much?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-financial-pitfalls-stay-at-home-parents-should-avoid">5 Financial Pitfalls Stay-at-Home Parents Should Avoid</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-same-actions-will-produce-the-same-results-ten-tenets-for-arranging-your-rich-part-2">The Same Actions Will Produce The Same Results (Ten Tenets for Arranging Your Rich: Part 2)</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ten-tenets-for-arranging-your-rich-part-1-rich-is-relative">Ten Tenets for &quot;Arranging Your Rich&quot; - Part 1: Rich is Relative</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-stop-hating-yourself-about-money-and-actually-make-positive-changes">How to Stop Hating Yourself About Money and Actually Make Positive Changes</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Lifestyle frugal lifestyle retirement saving thrift wealth Wed, 29 Oct 2014 17:00:08 +0000 Carrie Kirby 1245699 at http://www.wisebread.com There's a Lot to Like About Frugal Living http://www.wisebread.com/theres-a-lot-to-like-about-frugal-living <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/theres-a-lot-to-like-about-frugal-living" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man-5186622-small.jpg" alt="lifestyle" title="lifestyle" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>I don't make my own soap, <a target="_blank" href="http://business.time.com/2012/11/05/former-extreme-couponer-admits-its-a-waste-of-time/">do extreme couponing</a>, cut my own hair, or live in a tent.</p> <p>When it comes to being frugal, I'm less of a do-it-yourself kind of guy looking to save pennies, and more into saving bigger amounts of money through methods that take much less work than clipping coupons. (See also: <a target="_blank" href="http://www.wisebread.com/12-frugal-compromises">12 Frugal Compromises</a>)</p> <p>As I wrote about in April on Wise Bread, <a target="_blank" href="http://www.wisebread.com/16-ways-to-kick-start-frugality">kick-starting frugality with a few simple actions</a> &mdash; direct deposit, tracking spending, skipping meals out &mdash; can lead to savings that add up over time. By <a target="_blank" href="http://www.wisebread.com/cutting-the-cable-cord-has-more-than-financial-benefits">cutting cable TV</a>, my family has saved hundreds of dollars in the past year without missing many shows we enjoy. We haven't put the extra savings into a separate account and kept track of the specific dollars saved &mdash; although that would have been a great idea &mdash; but we have seen our cable bill disappear.</p> <p>The reasons why I became frugal may differ from yours, but I think they can offer insight into the importance of exploring the real reasons for being frugal before jumping in and doing everything you can to save money. There are different forms of satisfaction, I've learned, and some are worth the time and savings, and others just don't seem to be worthwhile.</p> <p>Here are some of the main reasons why I became frugal.</p> <h2>I Like My Time</h2> <p>By saving more money, I can work less. As <a target="_blank" href="http://www.ushistory.org/franklin/info/">Ben Franklin</a> realized about 300 years ago, a penny saved is a penny earned. That's a motto I follow daily, figuring that if I save money by not spending it, I'll have fewer bills to pay and thus won't need to work as much to pay the bills I do have.</p> <p>I work as a freelance journalist, meaning I set my own hours and can decide if I want to take on extra work. Like a squirrel harvesting acorns for the winter, I try to keep busy when I can, but with summer arriving and my daughter being out of school soon, I plan on working less this summer, so I can take care of her.</p> <p>Not everyone can be in this situation, I realize. Having a full-time job with benefits, and a family and a mortgage to take care of, requires commitment of at least 40 hours per week at work. But if you stop buying new books, for example, and go to the library and take that $50 a month that you would have spent each month aside, that's a few less hours you need to work in a month. So when the boss asks you to work overtime, you'll know that you don't have to rely on that overtime pay and can instead go home and spend the time with your family and maybe teach your kids how to cook dinner.</p> <h2>I Don't Like Throwing Money Away</h2> <p>Money is meant to be enjoyed and provide the freedom to do what you want to do. I'd like to be a millionaire, as anyone would, but even if I was, I don't think I'd spend it on things I enjoy doing myself. I don't like cooking <em>every</em> night, but even if I could afford it, I wouldn't want to go out to eat every night or hire a personal chef. I enjoy cooking and do it not only because it's healthier and cheaper than eating at a restaurant, but because it's fun.</p> <p>The same logic goes for buying books &mdash; or at least hardcover books. I can't see the point in spending almost $30 on a hardcover book when they're either free at the library, or I can find other books to read in paperback. It may not sound like a big frugal step, and I don't put aside the hundreds of dollars I save each year by doing this, but there's some satisfaction in knowing I'm not spending as much money as I used to on something that I can easily save money on by going to the library every few weeks. I still buy books, and I'm happy for authors to make money, but I usually only buy paperbacks or ebooks when I travel.</p> <h2>I Like Being Prepared for a Rainy Day</h2> <p>Ever since I had my first paper route as a kid, I've saved for something: new bike, comic books, college, car, retirement, wedding, home, home improvement project, child, vacation, and potential job loss, among other things I'm sure I've forgotten. After all of the monthly expenses are paid, it's difficult to have enough money left over to put aside in savings. If it's an important enough life event, such as retirement or my child's college fund, the money is automatically transferred to such an account each month.</p> <p>Saving money through frugality &mdash; such as not buying coffee and having that extra $25 a month automatically moved from a checking account to a savings account that's set aside for a Hawaiian vacation, for example &mdash; is an easy way to find that extra money for the rainy day fund, or something more fun.</p> <h2>I Like Being Prepared for a Thunderstorm</h2> <p>When I was laid off at a newspaper five years ago, I wasn't a lavish spender and had good saving habits to help me get through some time when I didn't have a steady paycheck coming in. Already being frugal (and knowing how to find other ways to save money) helped me reconsider my spending habits and not go into credit card debt. Partly out of necessity, frugality has become a life-long habit that is teaching me more ways to save money.</p> <h2>I Like Leaving a Smaller Environmental Footprint</h2> <p>Buying fewer things and <a target="_blank" href="http://www.wisebread.com/twenty-five-things-to-do-with-old-jeans">using what you have until it dies</a> means less things to throw in the landfill, and ultimately, fewer things being produced because you're not buying them. I try to use the things I own for as long as they work. I've had the same clock radio that wakes me up every morning since 1986, I've used personal computers until they're dead, I don't get a new phone every year, my bike is more than 20 years old, and I drive a 1991 Acura Integra.</p> <p>We recently started leasing a solar power system on our roof to generate electricity. Since it's a lease and not a purchase, we pay for it by buying the electricity we produce each month. The idea is that with locked-in rates over the term of the solar lease, we'll save a little money if our regular electric provider raises rates. I don't expect to save much money, but one advantage is that the solar power we use isn't polluting the environment like the electricity we previously got was. In the scheme of things it's a small step, but it's a start in our family polluting less.</p> <p>Of all of these reasons for becoming frugal, buying time by saving money is my favorite. Time is limited, and while I enjoy my work, there are many more things I'd rather be doing than working so I can pay bills I don't need to have.</p> <p><em>Why have you embraced the frugal lifestyle?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/aaron-crowe">Aaron Crowe</a> of <a href="http://www.wisebread.com/theres-a-lot-to-like-about-frugal-living">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/frugal-factors-what-traits-do-most-savers-share">Frugal Factors: What Traits Do Most Savers Share?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-nfls-5-most-frugal-players">The NFL&#039;s 5 Most Frugal Players</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-new-things-to-do-today">25 New Things to Do Today</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-financial-stability-after-divorce">How to Build Financial Stability After Divorce</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-sacrifices-that-will-supercharge-your-debt-payoff">8 Sacrifices That Will Supercharge Your Debt Payoff</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle frugal lifestyle Wed, 05 Jun 2013 10:24:35 +0000 Aaron Crowe 977186 at http://www.wisebread.com Frugal Factors: What Traits Do Most Savers Share? http://www.wisebread.com/frugal-factors-what-traits-do-most-savers-share <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/frugal-factors-what-traits-do-most-savers-share" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/686242690_3c57429ae1_z.jpg" alt="friends" title="friends" class="imagecache imagecache-250w" width="250" height="166" /></a> </div> </div> </div> <p>As I get older, I find myself more and more inclined to spend time with those who share my views on frugality, simple living, and saving. It seems as my age increases, so does my resolve to be quite open about my frugal ways. I guess that&rsquo;s either drawn like-minded folks toward me, or repelled others &mdash; perhaps it&rsquo;s done a bit of both simultaneously. The more I think about it though, the clearer it becomes &mdash; frugal folks do share a set of traits, values, or ways of living that bind us together and help us recognize each other in unlikely places. (See also:&nbsp;<a href="http://www.wisebread.com/30-signs-that-you-were-raised-by-frugal-parents">30 Signs You&nbsp;Were Raised by Frugal Parents</a>)</p> <p>After a bit of observation and introspection, I&rsquo;ve compiled a list of frugal factors &mdash; primary traits that we frugal folks share. Now, it&rsquo;s by no means a comprehensive list or the least bit scientific. Instead it&rsquo;s a character study of what it means to live simply in an age when &ldquo;more&rdquo; is often synonymous with &ldquo;better&rdquo;. So, here goes; I think frugal folks usually...</p> <h2>1. Recognize the Golden Mean</h2> <p>If you&rsquo;re watching your dimes and dollars, you tend to recognize more quickly the optimal amounts of nearly everything. Not too much and not too little, the golden is all about finding balance.</p> <h2>2. Buy for Quality, Durability, and Timelessness</h2> <p>Let&rsquo;s face it &mdash; we&rsquo;re human, and sometimes buying things is downright fun. But frugal buyers focus less on the transaction and more on the benefits of that transaction over time. We look for quality, we buy for durability and functionality, and tend to gravitate toward timeless looks that will never go out of style.</p> <h2>3. Make the Connection Between Time, Labor, and Things</h2> <p>Unless you&rsquo;re spending lottery winnings (and congratulations, if you are), there&rsquo;s an inseparable connection between time, labor, and things. The price of any item or service is directly related to labor and labor is directly related to time. More visceral than the idea of money, we know that things cost <i>time</i>.</p> <h2>4. Live Below Our Means</h2> <p>If things really do cost time, why spend all of it year in and year out? The frugal among us typically understand that living below our means helps us to save and ultimately helps preserve our future time and labor.</p> <h2>5. Understand the Real Cost of Ownership</h2> <p>Most things we purchase require an ongoing and indefinite cash outlay. Cars break down, high-def TVs inspire us to upgrade our cable service, printers need ink, suits need dry-cleaning &mdash; even our adopted <a href="http://www.wisebread.com/how-much-it-costs-to-own-a-dog">pets need food and good care</a>. Savers understand that the act of buying often means agreeing to pay for years to come, and we plan accordingly. &nbsp;</p> <h2>6. Distinguish Between Needs and Wants</h2> <p>For those who can differentiate between<a href="http://www.wisebread.com/25-products-you-think-you-need-but-really-don-t"> the things we need and the things we want</a>, life is a whole lot simpler. It&rsquo;s easier to prioritize, to control spending, to live within a budget, and to truly (madly, deeply) enjoy a splurge.</p> <h2>7. Embrace Satisfaction</h2> <p>We all live in a world that&rsquo;s suspicious of satisfaction. If you don&rsquo;t aspire to own a bigger house, buy a newer car, take more exotic vacations, install a spa bathroom, or build an outdoor kitchen, you&rsquo;re viewed with a combination of pity and mistrust. But for those less driven by upgrades, the peace that comes from satisfaction can be priceless.</p> <h2>8. Understand the Difference Between Spending and Investment</h2> <p>Frugal folks often get painted with a broad brush; people think we penny-pinch and save no matter what. But, of course, that&rsquo;s a false notion. More accurately, we understand the difference between spending money and making an investment. And we do our share of each &mdash; with awareness. Buying six pairs of new shoes is spending money; buying one versatile pair for work and everyday use is an investment. Taking a cab three times a week is spending money; buying a bike is an investment.</p> <h2>9. Avoid the Use of Credit</h2> <p>Credit is easy, tempting, and often habit-forming. Savers understand the pitfalls of compounding interest on unsecured consumer debt and we avoid it at all costs.</p> <h2>10. Know When to Seize an Amazing Deal</h2> <p>One of the most unsung skills of frugality is knowing how to spend. <a href="http://www.wisebread.com/buying-calendar">When an amazing deal presents itself</a>, frugal folks recognize it immediately and know what to do. When spending now means saving later, we can whip out our wallets as fast as the next guy.</p> <p>I&rsquo;m sure there are more I&rsquo;ve missed, but these qualities seem to form the foundation of frugal living. Each idea is learned personally, one at a time, often through trial and error. Also, at this risk of sounding sappy, each idea unites us in a sort of movement that&rsquo;s rethinking consumerism, excess, and debt-as-a-lifestyle. So, take some to time recognize all your frugal neighbors out there, share some tips, some adventures, and maybe even a cup of coffee. You have a lot to talk about.</p> <p>Do you see yourself in this list? Is there an important trait I&rsquo;ve missed? What&rsquo;s your journey been like as you&rsquo;ve grown into your own frugality and what do you still struggle with?</p> <p class="MsoNormal">&nbsp;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/frugal-factors-what-traits-do-most-savers-share">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-nfls-5-most-frugal-players">The NFL&#039;s 5 Most Frugal Players</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-dreams-you-wont-achieve-unless-you-live-below-your-means">5 Dreams You Won&#039;t Achieve Unless You Live Below Your Means</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/theres-a-lot-to-like-about-frugal-living">There&#039;s a Lot to Like About Frugal Living</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-new-things-to-do-today">25 New Things to Do Today</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-financial-stability-after-divorce">How to Build Financial Stability After Divorce</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle challenges to frugality frugal lifestyle live below your means Wed, 27 Mar 2013 10:36:33 +0000 Kentin Waits 971472 at http://www.wisebread.com