frugal tips

How a Simple "Do Not Buy" List Keeps Money in Your Pocket

Sarah Winfrey — Mon, 22 Jan 2018 09:00:06 +0000

Do you find yourself scrolling through retail sites when you're stressed? Do you gaze longingly at all the clothes you want to buy? Are you anxious until you get your hands on the latest tech gadget?

If so, those are signs that you may be spending money that you don't have. Sure, retail therapy feels good in the moment, but the resulting worry about the money you spent and the debt you created will bring you right back down.

Try taking a break from shopping for several weeks, months, or even a whole year. It can be done. Even if your shopping isn't out of control and creating debt, taking a break can create some space in your life and free up some money that you can spend or save elsewhere.

And it all starts with a list.

The "Do Not Buy" inspiration

Author Ann Patchett made her own list of rules about what she could and could not buy for her "Year of No Shopping" project. She decided that she would not buy clothing, shoes, accessories, jewelry, or technology. She could buy things like shampoo and batteries, but only when she had run out of what she already had. She gave herself flexibility when it came to gifts, but even there she tried to give people time or books, rather than things.

She made rules that fit her lifestyle and still allowed her to do her work. For instance, she continued to buy books because she owns a bookstore, writes books, and generally finds that books are a huge part of her life. She permitted herself to buy anything she wanted at the grocery store and to continue dining out regularly.

Sure, she saved money, but that wasn't all she found in the year that she followed her no-shopping rules. Following the rules gave her a better perspective on money and its power, on how we get it, how we use it, and what it's good for. She began to think about how many people do not have the money to buy what they need, let alone what they want, and started to have more compassion for them. She also learned that the feeling of wanting something passes relatively quickly.

She saved time, she says, because she was not only not buying, but she wasn't looking at things, either. This means that she didn't scroll through retail sites, she didn't window shop at the mall — she just didn't shop. In fact, she gained so much from her year of not shopping that she decided to extend it for another year!

How to make it work for you

If you're like me, you can think of at least one thing you need to stop buying. Maybe you've thought of several. Write them down and start your list. If you're not sure what should go on your list, here are a few ideas to help you get started.

Think about buyer's remorse

Have you made any purchases in the last few months that you regretted later? Write them down and see if you notice a pattern. Maybe it's all clothing, or things you bought when you were angry, or inebriated. (See also: How to Prevent a Drunken Online Shopping Spree)

Whatever the pattern is, figure out a rule that will help you break it. Maybe you need to stop buying clothes, like Patchett did, or refuse to shop when you're angry. Whatever the pattern, there's a rule that can help.

Review your bank statements

Look for spending patterns in your bank statements. Are there certain stores where you spend a lot of money, certain categories where you spend more, or certain times of the week, month, or year when you spend more? In a manner similar to that outlined above, find a rule that will help you break your cycles.

Assess your cravings

Just as a craving for sugar every afternoon can mean that it's time to step away from the sweets for a while, a craving for certain items can mean that it's time to stop buying them. Are there products or categories of items that you always want to buy? (See also: 7 Effortless Ways to Prevent Budget-Busting Impulse Buys)

If you aren't sure, think about where you end up if you're wandering around Target or a shopping mall. Do you go to Lululemon? The Body Shop? The Apple Store? Think, too, about stores where you have a credit card (or wish you did), or sites you follow closely online so you can make sure you're getting all of the deals right when they drop.

Unsubscribe from their emails, unfollow them on social media, and steer clear of the stores in person. If you cut off contact, you won't be tempted to spend there.

Be realistic

The point of a "Do Not Buy" list is to make a list that actually works for you and your lifestyle. Nothing has to be oppressive or overly stringent. Most of us have areas where we would like to cut back, as well as things we'll still have to spend money on in order to live.

This will be different for everyone. Maybe you already have plenty of workout clothes, but you need to update your work wardrobe, or you've been planning to buy a new computer the next time Apple makes an announcement, but you don't need a new phone. You can make rules to fit all of these.

You can also allow yourself exceptions to your own rules, as you see fit. If you're a writer and your computer dies midyear, it's probably acceptable to buy a new one even if you have electronics on your Do Not Buy list. You can also add rules as you go along if you find you enjoy the freedom of not buying, or you see other shopping habits you want to break.

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This article is from Sarah Winfrey of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

11 Things That Should Never Cost More Than $99

Mikey Rox — Thu, 25 May 2017 08:30:13 +0000

Life is expensive, y'all. Food, rent, home energy, gas — the basic necessities for modern living — cost a fortune these days. This is precisely why we need to avoid overpaying elsewhere in our budget. Save yourself some dough by rethinking some of these could-be pricey purchases that should never come in at more than $99.

1. Men's haircut

I don't have the beautiful ginger locks I once had — it's gettin' pretty sparse up there, friends — but even when I did have a generous coif to maintain, I never spent more than $20 on a haircut. I spend even less now — from $8 to $15 at Great Clips (they often have $9.99 specials in my area, and I receive $2 off regularly priced haircuts when I show my local gym membership). Unless you're getting a serious 'do done, you shouldn't pay more than $35. That's the highest I've ever forked over — in Manhattan — which included shampoo, cut, rinse, and hot towel service. Even then, I could have done without three of those things.

2. Jeans

If you read my posts frequently, you know I like to shop. Clothing is one of my few budget vices, and I'm generally not apologetic about the amount of money I spend to look good. I do draw the line at expensive jeans, however.

In the past, I've spent more than $100 on a single pair of jeans — with purposefully designed holes in them, no less. But you know what happens to them? Eventually I get tired of them or they fade or I lose/gain too much weight to wear them, and they get sent to charity. And when I started putting that sitch in perspective, I decided I'd much rather send $20 jeans to charity than $150 jeans. Now I almost strictly buy denim at the J.Crew Factory Store (they retail for around $65) that I can score between 40 percent and 60 percent off, and many times I have an additional discount on top of that. I've also started selling my unwanted jeans on Swap.com to recoup some of that cost. I recommend the latter strategy if you have stylish, in-good-shape denim lying around. You may be surprised at how much you'll get for your old clothes. (See also: How I Make $800 on Month on eBay Selling Used Clothes)

3. Halloween costume

Some of my friends are super into Halloween, spending hundreds of dollars on their elaborate costumes each year. I don't get it. A couple Benjis on a goofy get-up that you'll wear one time for, like, four hours? Get outta here. Raid your closet and the local thrift and craft stores to DIY your costume if you enjoy the holiday, but there's no reason to spend more than $99 to be an internet meme or a superhero.

4. A dress you'll only wear once

If you plan to be buried in that dress, spring for it. But if you know you'll only wear it once, what's the point of dipping into your savings to buy it? Instead, ask your friends if they have a dress you can borrow for whatever the occasion may be. It'll be new to you, and no one else has to know you borrowed it. Otherwise, try secondhand stores, online consignment shops, and re-accessorizing what you already have to find a dress you won't feel guilty about wearing when you're already short on rent. Or, if you are looking to splurge on a dress, make sure it's versatile enough to wear multiple times. You can never go wrong with an LBD, after all.

5. Multiple trips to Starbucks in one month

Listen, if you have a $99-plus monthly coffee habit, you have a problem. Coffee is so much cheaper when you make it at home. Brew a pot before work and take it to go. Then take that extra cash you save by making coffee at home and put it toward a vacation fund or retirement. (See also: Here's How Rich You'd Be if You Stopped Drinking Expensive Coffee)

6. Gym membership

Even when I lived in Manhattan, I didn't pay more than $99 a month for a gym membership, and mine gave me access to all the locations on the island, including the steam rooms, saunas, showers, and towel service. It wasn't a luxury gym, per se, but it did have some luxuries. Plus, there are so many ways to get fit for free that a triple-digit monthly charge hardly seems worth it.

If I ever pay more than $99, I want somebody to work out for me while I watch. Weight loss through osmosis. I like that idea.

7. Textbook

College courses like to stick it to you by constantly updating the editions of the required textbooks so you have to buy the latest, most expensive version. Sometimes you can't avoid it, but most of the time you can find used versions of the books you need in the campus bookstore or online. Bonus if they have notes from the previous owner in them. Added value!

8. Massage

There are very few professions out there that command nearly $100 per hour for services. Massage therapy is one of them, but usually you're not getting what you deserve for the money, i.e. the therapist has hands like a Tonka truck. Skip the high-end spas and try out your more affordable, local options instead. You can also score really great spa deals on daily deal sites that often cut the prices in half.

9. Sneakers

In New York City, I regularly see people standing in line for expensive limited-edition kicks, and I'm sure you've heard the story about NBA newbie Lonzo Ball, who recently released his own $495 shoes. I get it. Guys love their sneaks and they'll pay out the wazoo for them. But until they make shoes that render me able to fly, I'm perfectly happy staying in the $75 to $95 range for shoes that I plan to get dirty and sweat all over.

10. Warehouse club memberships

We've written about the pros and cons of warehouse memberships, and they make sense if you're feeding a large family, but if you're only feeding one or two mouths, you're probably paying more for the membership than you'll save over its annual lifetime. Combine that with the amount of food you'll waste when you buy in bulk without the need to buy in bulk, and you're really doing your wallet a disservice. Clip your coupons and shop small at your local supermarket where there's no fee to enter.

11. Fresh flowers

If you think about it, flowers are the only living, non-consumable item that we buy at extraordinary prices just to watch die and throw in the trash five days later. Would you buy a fish for $100 if the pet store told you you're gonna have to lay it to rest by the end of the week? Absolutely not. Set a reasonable maximum amount for your fresh bouquets, never exceeding $99. Or skip the buds altogether and spring for alternative gifts that bring joy, like ice cream. Wouldn't you be happier with a pint of Ben & Jerry's than a bouquet of wilted roses? So would everyone else.

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This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Ways Your Fridge Door Can Improve Your Life

Marla Walters — Tue, 11 Apr 2017 08:30:13 +0000

The average American opens their refrigerator door 22 times per day. If you're not using this premium spot to improve your life, you're missing out. Here are eight ideas to get you started.

1. Make it a vision board

Popularized by Oprah and The Secret, many of us began cutting out pictures of dream houses, cool cars, and destinations. Pinning them on a board (or, in this case, your refrigerator door) may not actually conjure those things up, but the activity will help you identify the things that you're striving for, and being reminded of them will keep you on track to attaining them.

2. A place for inspirational quotes

Need a little prompting to get on those goals? Display some quotes that motivate you to stay focused and live a happier life. It's amazing how looking at the same words 22 times a day actually did remind me to "be more mindful." (See also: 64 Funny, Inspiring and Stupid Money Quotes From Famous People)

3. Feature your loved ones

Sure, we all put up various pictures on our refrigerator doors. I find, though, that having my elderly Aunt Joyce's picture there reminds me to call her regularly. Put up pictures of your family members to remind you to stay in contact with them. Especially the ones who aren't on Facebook all the time.

4. Give yourself a gold star

Elementary school kids get these all the time for doing something good, so why shouldn't you? Did you eat healthy all day long? Did you exercise? Resist temptation to blow your budget? Good for you! Here's a star. Yes, it sounds a little silly, but it works to keep you motivated.

5. Post your money goals

Saving for a house, a car, or a vacation? If you're looking for a place to be reminded to stick to a savings plan, the refrigerator door is a great spot. At a reminder rate of 22 times per day, it's harder to go off-track.

6. Motivate yourself to get moving

How many calories will you have to burn to get rid of that ice cream bar? How many situps will it take to counteract drinking a can of soda? Print and post your fitness goals, as well as calorie and exercise charts to stay motivated to get healthy.

7. Make it meal-planning central

If you hate meal-planning, perhaps you just need some help to get you motivated. Keep a running list of meals on the refrigerator door, for the rest of the family to add to or cross off as their appetites and preferences change. That way, you'll never hear "Ugh. Lasagna again?" Because hey, nobody crossed it off on the list. (See also: Save Money and Eat Better With These 6 Online Meal Planners)

8. Make a wish list

Are there items you want, but don't really need? Try the 30-day rule. Write them down on a list, and tack that up on the refrigerator door. Put a date next to the item. You can't buy that item for at least 30 days. At the end of that period, if you really think you need it, ok. You'll probably find, though, that the urge has passed. (See also: 4 Questions to Always Ask Yourself Before Making a Big Purchase)

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This article is from Marla Walters of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

7 Money-Saving Tricks You Can Learn From Same-Sex Couples

Mikey Rox — Mon, 19 Jan 2015 14:00:19 +0000

By and large, LGBT couples are the same as heterosexual couples in most facets of our relationships. We express affection, argue, celebrate, and support each other just as our straight counterparts do. Yet there's one area where same-sex and heterosexual partnerships tend to differ, sometimes significantly — and that's our finances. Being part of a same-sex couple affords certain money-saving advantages that historically have been harder for hetero couples.

But straight couples can take advantage of these money-saving opportunities, too. Thus, to help you make the most of your relationship — and reap the financial benefits that gay couples are seizing — here are seven common ways to save that you can learn from same-sex couples.

1. Share Clothing, Accessories, and Grooming Products

Ask any gay man who's dating another gay man of similar size and style, and he'll tell that you that one of the best days of his life was when he and his boyfriend moved in together and each of their wardrobes instantly doubled. (The same applies for lesbian couples, of course.) Because when you're a dude and you're living with another dude, you automatically get to borrow whatever they have that you like. Seriously — Best. Day. Ever. (This applies to straight-guy roommates as well, by the way — even if they won't admit it.) Straight couples, however, can't pull off this feat without raising at least a few eyebrows.

Of course, not all of us can fit into our same-sex partner's clothes, and we don't always share a similar sense of style, so if we lose out on that windfall, chances are we can still swap accessories like watches, ties, and outerwear — a practice that can save us hundreds of dollars a year.

Let's not forget about grooming products, either. What my husband and I have in common that a husband and wife don't is that we can use the same shampoo, conditioner, shaving cream, hair product, and cologne on a daily basis. Think about that, ladies and gentlemen: You probably have a bathroom full of "his" and "hers" products that likely dip into the thousand-dollars-per-year territory. But do you really think that that "men's body wash" is specifically designed just for male body parts? Sadly, only the label is, which is why you should think about taking a page from our playbook in this regard, and start consolidating where you can.

2. Take Advantage of "Buy One, Get One" Sales

When Victoria's Secret has a BOGO sale, who benefits? Only the person wearing the bra in the relationship. Mathematically speaking, that's two bras for one person at half their original price. If you're part of a lesbian couple, on the other hand, each lady can get one bra for themselves using this deal. It's hard to argue with those numbers.

Personally, I love scooping up BOGO deals on shoes with my husband. We each get a pair we like, and split the total cost of the discounted bill, which renders it cheaper for each of us than if we were to absorb the total cost all alone.

Again, this isn't a situation specific to same-sex couples, but rather one of which we're more mindful because the sale often applies to gender-specific items that heterosexual couples brush off as not pertinent to their other half — mostly because they're not in the mindset of doing so. Things like bras, I understand, but you should absolutely start thinking as a savings duo in other, more gender-neutral areas, like t-shirts or certain types of shoes.

3. Use the Same Loyalty Card for Similar Services

My husband and I typically go to the same place to get our haircut, workout, and get an oil change, among other services. And to ensure that we're maximizing our reward-earning potential via the establishments' loyalty programs, we have one account that we share so we rack up points quicker. If you and your S.O. are patronizing different establishments, thereby reducing your overall savings (sometimes by A LOT), this is another area where you two should connect and see where it makes sense to join forces.

4. Scale Back Life's Expensive Milestones

Considering the history of how same-sex relationships in America, the majority of gay people — until very recently — gave up on the idea of a traditional wedding. On one hand, it was unfortunate that we couldn't experience that rite of passage like our straight counterparts, but on the other, we saved tens of thousands of dollars that, in hindsight, is much better spent on anything else besides expensive flowers and a cake.

Certainly I'm being facetious here, but you get the point. Just because you're a straight couple doesn't mean you have to subscribe to what our society considers the "norm." If you don't like the idea of spending a small fortune on a one-day party, don't. Find someone who thinks similarly with whom to spend the rest of your life, skip the formalities, and send all your other goin'-to-the-chapel straight friends a Christmas card taken from the bow of your boat as you enjoy the sunset in Fiji. Can I get an "Amen?"

5. Put Kids on Hold Until You're Financially Stable

Biologically speaking, it's incredibly easy for gay couples to not have kids — but that doesn't mean that we don't want them. It also doesn't mean that I'm advising against you having them. Kids, as I understand, are a blessing to many families — but they'll also bleed you dry if you're not prepared. Things happen unexpectedly — I get it — but if you can help it, the best financial decision that you can make for your intended family is to wait until you're financially stable. That may mean that you shouldn't have kids until your late 20s or 30s, but wouldn't you rather enjoy your life with your children, instead of struggling to make ends meet for the next two decades?

6. Rely Less on Outside Sources in Future Planning

It wasn't long ago that gays experienced all sorts of financial restrictions based on our sexual orientation. Because we weren't allowed to get married until relatively recently (and some gay people still can't in certain states), we weren't privy to many tax incentives, inheritance rights, and other financial benefits for which straight couples qualified. So, homosexual couples have had to adapt financially to protect ourselves and make do without help from outside sources. It's a useful skill from which straight couples can also benefit.

Though it's hard, try relying less on what your job or the government says you're afforded or has promised you. (If the Social Security debacle isn't a wake-up call, I don't know what is.) Thus, the only money that's really yours is the money you already have. Anything else is phantom cash that you may never see unless you start thinking differently. Save and plan accordingly.

7. Be a Dual Income Household

Though times are rapidly changing, historically women worked outside the household less often than men. That meant hetero couples often had only one income — and that gays often had dual incomes. Depending upon the nuances of your own personal household situation and preferences, having two parents working outside the home may not be realistic. But that doesn't mean your household can't have two incomes, since it's possible to earn money while working from home, for example. A second income can make all the difference in your financial futures, so explore ways to bring in extra money.

In what other ways do same-sex couples maximize their finances? Please share in comments!

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Ask the Readers: What Is Your Favorite Frugality Tip?

Ashley Jacobs — Tue, 23 Apr 2013 10:36:36 +0000

Editor's Note: Congratulations to Karen, Ria, and Vickie for winning this week's contest!

There are tons of frugal living tips out there. TONS. Some make a lot of sense, others make you think "Huh. That's...interesting." Then there are tips that cause you to jump up and go, "Wow! I can't wait to try it out!" and it turns out that the tip is, indeed, as great as you thought it might be.

What is your favorite frugality tip? How did you learn about it — from family or friends, a blog, a book? How often do you share this tip with others?

Tell us about your favorite frugality tip and we'll enter you in a drawing to win a $20 Amazon Gift Card!

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Post your answer in the comments below. One commenter will win a $20 Amazon Gift Card!

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Tell us about your favorite frugality tip and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

25 Frugal Changes You Can Make Today

Ray Jamali — Wed, 30 Mar 2011 11:36:09 +0000

Frugal living does not have to involve drastic changes; a few simple everyday changes can go a long way. Here are 25 changes you can make today and start living a frugal life without taking frugality too far. (See also: The Line Between Frugal and Crazy)

1. Reduce/Eliminate Daily Luxuries

Cut down on your daily Starbucks coffee and brown bag your lunch. Small daily luxuries can add up quickly and end up costing you a fortune. We are not talking about the occasional treats, but regular daily expenditures you can easily cut down without a dramatic impact on your life. Instead of buying coffee every morning, make it at home and save $1,500 on coffee.

2. Carpool

Get a few colleagues together and start a carpool. Not only do you and your carpool buddies save on gas and other vehicle maintenance expenses, it is also better for the environment.

3. Prevent Repair Costs

Sometimes frugality can go too far and end up costing you more than saving you. One area you cannot and should not be frugal in is maintenance. Ensure you do your oil changes and tire rotations on a regular basis to prevent costly car breakdown. Regular maintenance around your house, regular check ups at the doctor and the dentist will prevent steep expenditures from creeping up on you.

4. Share Toys

Buying toys can be expensive and rarely are they used to their full potential. Share your kids’ toys with your family and friends. This will enable your children to play with a variety of toys without you having to buy each item. Create a system that will allow multiple households to share in the fun and costs together.

5. Shop on a Full Stomach

When shopping on an empty stomach you tend to buy items you don’t need or want for your diet. However, hunger makes you vulnerable and you end up purchasing what you crave at that moment. Usually these tend to be the more costly ready-to-eat snacks and meals, that are also high on calories, sugars, and sodium.

6. Share Baby Clothes

If you have a child start swapping clothes instead of buying brand new items. Parents understand that babies grow out of clothes at lightening speed. So before you go splurging on those Baby Jordans ask around and you will be surprised to find how many parents have brand new baby clothes that they can donate. As well, be generous and share your little ones’ items with your friends and family members. A little can go a long way.

7. Purchase Generic

Brand shopping can be obsessive and quickly get out of hand. First it’s one purse and then a pair of shoes and before you know it the designer is making all the things you love. I hear you, you can’t help but love beautiful creations. However, know that there will never be an end to new and hottest brands and they are always overpriced.

8. Buy in Bulk

Sometimes buying in bulk can be a great cost saving technique. This is especially true for cleaning and daily use items such as paper towels, detergent, or bleach. Wait until they are on sale and buy enough to last you until the next sale rolls around. Make sure to buy things that can be stored for a long time without any defects.

9. Turn off the Lights

Turn off your lights and fix water leaks. With some effort reducing water and energy bills can be accomplished rather easily. Depending on your location you might also have options between several service providers. Use websites that can help you find the best rates such as energyshop.com. You can easily save 10% or more on these costs. A few hours of research can save you hundreds, if not thousands, of dollars over a year.

10. Purchase Used Items

Although there are some items that you would not purchase used, there are many things one is better off buying used than new. Garage sales can often be a great money saver. One big-ticket item is a car; I am not a fan of purchasing a new car (depreciating asset). A few other items one can purchase used are home appliances, furniture and gardening tools. A few hours on craigslist, ebay or autotrader can save you hundreds or thousands of dollars.

11. Cut Food Costs

Cut out junk food and plan meals in advance. After housing and transportation, food is the next biggest expense for most families. Although you cannot eliminate food (at least I can’t), there are strategies you can use to reduce the cost associated with it. By planning your meals ahead of time you can avoid wasteful shopping, and reducing junk food will not only help your wallet but also your health.

12. Reduce Reoccurring Costs

Cut down on your cable, internet, phone, magazine subscriptions, and other reoccuring costs. As an entrepreneur I love subscription based services — they bring in consistent reoccurring income. As a consumer I don’t think there is a bigger evil than subscriptions. Go over your monthly subscriptions and start cutting where you can. Small incremental amounts can end up taking a large chunk of your income. Are you still a cable subscriber? With services such as Netflix and redbox, there is no need for hefty cable subscriptions. Although those are also subscription based, the cost is a fraction of your cable bill. Review your internet and phone bills and start shopping for better plans.

13. Save Your Spare Change

Set up a piggy bank and start saving your spare change. You would not believe how much you can accumalte by saving small amounts of change throughout the year. This is extremely effective; in fact some banks have started offering products based on this concept.

14. Shop Online

Online shopping has become extremely popular over the last few years, and often it's the online retailers that can offer big discounts. Not only is it convenient shopping from your home, you can easily compare prices and look for coupon codes.

15. Drive Steady

Start driving at a steady pace and avoid excessive speeding. With gas prices going through the roof saving money on gas can add up very quickly.

16. Start Bargaining

Start bargaining! Although you may not be able to bargain at Walmart, you can do it at your local farmers markets, with your phone and cable provider, and many other purchases. Just ask!

17. Eat Steak at Home

You may not succeed on your first attempt to make a great steak, however with practice comes perfection. Save yourself a few hundred dollars by making your steak at home, the way you want it.

18. Pre-Drink at Home

If you are planning on a Saturday night out and hitting the bar, consider pre-drinking at home. I find getting a buzz at the bar can quickly become a buzz kill. Ensure you have a designated driver.

19. Use Coupons

Get cutting! In case you have not heard this before, coupons can save you money! Start using coupons for your everyday purchases; these small amounts can start adding up quickly. These days you don't even have to look for coupon booklets anymore — there are many variety of places to find coupons.

20. Watch the Game at Home

I am a big sports fan and love watching a good game at the bar. However this can get very expensive very quickly. Invite a few friends over and ask them to bring their own alcohol — you provide the snacks and entertainment. You can have just as good of an experience at home, if not better.

21. Fix It Yourself

If you broke it you can fix it. Fixing your broken items yourself can be a cost effective. With the Google and YouTube you can virtually find videos on anything you may need. Of course, be careful and make sure you have the right tools and skills for the job.

22. Romance on a Budget

Being frugal does not mean you cannot romance your partner. Instead of an expensive dinner out, create a romantic ambience at home with some candles, romantic music and home-cooked meal. Instead of expensive Hallmark cards, you can write your own short poem or just an I love you letter.

23. Be Debt Focused

I know this is not a debt reduction article. However paying off debt can never hurt. Often the goal of frugal living is to become financially independent. What better way to achieve that than by extinguishing debt.

24. Do Your Own Taxes

Taxes often intimidated people. However with all the tax filling softwares available, doing your own taxes is very straightforward. Unless you have a complicated situation, there often is no need to pay hefty fees for someone else to file your taxes.

25. Learn More about Frugal Living

Often frugal living seems complicated and/or boring. But the first step to living a frugal life is to learn more about frugality. Read books, articles, and blogs about saving money — like you're doing right now!

Take care of the pennies and the dollars will take care of themselves.

This article is from Ray Jamali of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

The Key to Frugality: Avoid the Fear Tax

G.E. Miller — Tue, 14 Sep 2010 12:00:17 +0000

Have you ever purchased something for one of the following reasons?

If you didn't, you wouldn't look good enough.
If you didn't, others might think less of you.
If you didn't, you weren't rewarding yourself like you should be.
If you didn't, you would be missing out on something more in life.
If you didn't, you weren't safe enough.

We all have. And probably multiple times every week. And we probably didn't think about it at the time we handed over our hard-earned money, but we were paying a tax on our fears. And in doing so, we were playing right into the hands of marketers and advertisers. Damn! (See also: Look, But Don’t Touch: Avoid Marketing Manipulation)

Almost every purchase has a fear tax option

Perhaps there are a few items out there still that don't have a fear tax on them, but in my little brainstorming session here, I'm having a hard time thinking of them. Sometimes these purchases are more expensive versions of necessities. Other times, they are the things we don't need at all. There are the obvious ones:

You want to have a nice looking vehicle because anything less might be looked down upon by neighbors, co-workers, or the next hot date, no?
The shiniest, fastest, most advanced cell phone to stay on top of the latest trends.
Your entertainment? HD and Blu-Ray is the wave of the future. You wouldn't want to get behind and miss out on the obvious upgrades.
That custom tailored suit so that you can look the best in your next interview or business meeting.

Then, there are some less obvious but incredibly costly purchases that you'll be taxed on:

An MBA from a top 5 business school. Otherwise, why would the best employers want to bother with you?
The extra $300k on your spouse's life insurance beyond what you realistically need if they were to pass away.
That lower deductible on your car insurance, because why the heck would I want to pay $2,500 if I got in a total wreck?

And even the most basic of necessities have a fear tax associated with them.

The organic dog food vs. the regular version because Fido will be healthier and live longer.
The organic human food vs. the regular so that you can live longer.
That premium gasoline so that your vehicle's engine lasts longer.
And don't forget the 2-ply toilet paper, because one is never enough!

Is overcoming the fear tax the key to frugality?

Not 100%, but it sure is a huge part of it. There are smart frugal things you can do to shop for the lowest price, cut down your total consumption, reuse things, etc. — but even then, the fear tax is at least an influencer in all of those strategies.

So how do you become '"fear tax exempt"?

It takes years of training, goof-ups, and trial, but it all starts with one simple question you should ask yourself every time you are about to complete a transaction:

"Am I purchasing this (or paying too much) out of fear?"

If the answer is no, then congratulations.

If the answer is yes, the follow-up question you may want to ask yourself is:

"Is it worth it?"

Overly simple? Yes. But it's a practice that many of us forgo all to often.

This article is from G.E. Miller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Save Money Buying a New Car and Be Happy

David Ning — Wed, 07 Jul 2010 13:00:06 +0000

Though a car could be one of the most enjoyable purchases, many of us are simply fed up with the whole shopping process. It's not that we don't like picking and choosing our favorite color and options, but those sales people...arrgggghhh. In the old days, I would deliberately let the salesperson make a little bit of money by not negotiating as hard as I could because that's the only way I could buy a car and keep my sanity. With the Internet though, things changed. You can actually get the best price available anywhere and still be happy. Talk about having the cake and eating it too. Here's how...

Forget Edmunds.com...

Edmunds.com is probably the leading website that people tend to reference in articles like these, but I'm telling you that you don't need to go there at all. Sure, the site's got a wealth of information about the car that you want to buy, invoice pricing as well as what others are paying in your area, but that's not nearly good enough. Think about it for a second. What others are paying is just the average of everyone who bought a car in your area. If the buying pool consisted of ten people with five paying invoice and five paying full sticker, the site would show a number between sticker and invoice. Now, did you get a good deal by going with that price? And don't believe that no one pays sticker either. There are tons of people who pay full retail (or close to it) on cars. Another problem with these websites is that they don't keep track of the miscellaneous fees that all car manufacturers tack on, which ultimately means that dealerships can mark them up and make money off you. Unless...

The Real Solution

Next time you buy a car and you want to get a VERY good price, all you have to do is visit the forums. Go to your favorite search engine and type in your car and the word forum (or message board), and a bunch of sites where enthusiasts meet and chat will pop up in the results. Click through and start reading. You can find all the issues people are having, look at pictures of your favorite car with every option imaginable and also find out all the fees and ways dealers can rip you off. But that's not all. There's a 100% chance that you will not only find invoice pricing for your car and all the options available but the deals other people are getting as well. Quite often, you will even be able to locate a few dealers who can offer you a price that is better than 99% of the ones you can get anywhere else. Armed with this information, you basically have two options: go with the dealer if he's close enough, or print the email and just go to a dealership that you like and ask them to match the price. Since you already have a solid offer with the exact options you like, all the normal sales tactic like up selling shouldn't work anymore. Either they can match the price, or they cannot. Most of the time, they will go to the manager's office and just match the price you give them, and you are done.

This Takes Work

The process I just described is by no means instantaneous. After all, it takes time to read the message boards and to figure out all the fees and deals that people are getting. But I love it. I actually find that the more I read about people's passion for a car I plan to get, the more I know whether the car is right for me. The more I read, the more I actually understand the options for the car and what is best for my own circumstances, and the more I read, the more I know whether now is the right time to buy the car. No more regrets. No more "Oh I wish I knew about that rim option" and no more "I didn't know you can get a great deal like that!"

It REALLY Saves Me Money

This saves me money in three ways.

The negotiated price. If no one is getting invoice on that particular model, then there's no point to be upset about not being offered that price. While there's always someone who will get the best price, it won't be just ONE person.
The fees. If you don't check, you will never know that the price of your car can contain system training fees, bank lease fees, and a money factor that the dealership can mark up. Since some are justified and some needs to be eliminated, how can you make an informed decision if you don't even hear about them until the very end?
Options. Like everything else, not buying it saves you the most money. Knowing other people's experiences can only help you decide whether, for example, that compass in the rear view mirror is that useful. For some, it might be a "must have". For others, it might not be worth the $500 it may cost. You decide.

The Best Part...

Money aside, the best part about spending the time to research is that it builds anticipation so the car will be that much more enjoyable when you actually start being the owner of one. If you want to get the most value, a used car is still the way to go, but if you ever buy new, this is the best way.

This article is from David Ning of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

25 Frugal Things I Do, 4 Spendthrift Confessions

Frugal Duchess — Tue, 27 Oct 2009 13:00:03 +0000

From time to time, I take inventory of my frugal habits. This review helps fine-tune my money-saving strategies. Here is my latest list of 25 Frugal Things I do, plus a few spendthrift habits. It's a tradition I've picked up from my friend Dawn at Frugal for Life.

1. Use mascara, coffee and tea to color my hair.

2. Use organic apple cider vinegar as a natural conditioner; I clean my kitchen with white vinegar.

3. Avoid ordering drinks or beverages in restaurants.

4. Bring my own snacks, water and food to theme parks.

5. Have installed a filter on the kitchen sink. Filtered water costs pennies per gallon in my home.

6. Use the free gym at work and cancelled the gym membership at a chic gym in South Beach.

7. Walk to stores, the post office and other nearby errand stops.

8. Purchased a discounted monthly transit pass for the bus and train.

9. Read receipts to find store errors or free coupons on the receipt.

10. Use olive oil, oranges and tomatoes to condition my skin and hair instead of traditional personal care products.

11. Style, braid and cut my own hair.

12. Often stay with friends and relatives while on vacation.

13. My shopping lists are based on weekly sale promotions and coupons.

14. Have re-joined an organic food co-op to get super cheap prices for organic, in-season produce.

15. Make clothing and shoe repairs and other wardrobe fixes with magic markers, staples and tape.

16. Stock up on generic or private label products, especially when those items are on sale.

17. Recycle cards, gift bags and wrapping paper.

18. Use diluted dish soap to wash off fruit.

19. Watch Internet-television and have cut the cable TV cord.

20. Have cutback on makeup and skincare products (fewer chemicals, lower expenses).

21. Purchase 99 percent of my shoes, clothing and accessories at end-of-season sales.

22. Borrow books, magazines and movies from friends.

23. Save the bits of soap and small conditioner containers we use in hotel rooms.

24. Drink the free coffee at work.

25. Try to avoid shops and malls as much as possible.

4 Secret Spendthrift Confessions

1. I love to eat out.

2. Disorganization costs: Late fees — for videos & bills — occasionally eat into my budget.

3. A local company offers discounted massage therapy services, and I take advantage of this perk as much as possible.

4. I don’t know how many pairs of shoes are in my closet.

This article is from Frugal Duchess of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Help End Hunger, Get Kindled, and 3 More Positive Web Tips You Should Know About

Linsey Knerl — Thu, 05 Mar 2009 17:56:31 +0000

There are days when little bits of good news can help undercut the bad. With a recent initiative by Tyson to end hunger, a new super-groovy Kindle-esque iPhone app, and a killer comparison shopping site, there’s good stuff out there. (You just have to know where to find it!)

The iPhone can now be used as a Kindle (seriously). – The unofficial Apple Weblog verifies that the rumors are true! Hooray for those of you who held back from buying the $300+ Kindle (and possibly the 2^nd generation Kindle 2) but were using an iPhone, anyway. I haven’t purchased an iPhone yet (I’ve been narrowly eeking by without a phone at all), but this gives me one more reason to upgrade. This and the Pandora app will probably seal the deal for me. (Not to mention the fact that illustrations in the iPhone app will be displayed in color. Very groovy.)

Your pledge can feed 140 kids. As part of an impressive initiative by Tyson foods, you can help end hunger. Be one of the 1,000 people that pledges to give, share, or volunteer for the cause, and your pledge will guarantee 35 lbs of food will end up on a truck to the Capital Area Food Bank of Texas in Austin during the SXSW ’09 Interactive Festival. Ways to share (which is all you need to do to help the cause) include:

Use the share function on the website.
Follow @HungerPledge on Twitter for updates and use #HungerPledge with your tweets.
Write a blog post about Pledge to End Hunger.
Email the link to your colleagues, family, & friends.
Join the Pledge to End Hunger Facebook cause.
Embed the Pledge to End Hunger Tally widget on your website, blog, or MySpace account.

Plan for the future with a family heirloom. You hear about it all the time: Kids squabbling over who will get the china set when the parents pass away. While we can’t give advice on the family dynamics that can come about during these difficult times, this recent article on Mainstreet.com highlights some tips you should take to ensure that taxes are handled accordingly. The best part of the piece isn’t the financial details, however. It gives creative ideas for passing down heirlooms, even if you don’t have a row to hoe. (Tomatoes, anyone?)

There’s nothing depressing about this meal. If you somehow missed Trent’s roundup of spectacular Depression-era cooking videos (compliments of a lovely 93-year-old Clara), you must stop what you are doing and check them out! Not only are the recipes delicious, they are true to the mission of keeping things simple. (It’s also motivation for those of us who’ve considered video blogging to get up and finally do it. This lady is fantastic!)

All I ever needed to know about growing sprouts, I learned from Jenn Fowler. I admit to over-spending on fancy sprout-growing kits. (Shame, shame.) If you haven’t already fallen victim to unnecessary growing gizmos, or you want to redeem yourself with a no-nonsense, super-affordable method to making your own green edible sprouts in your kitchen, you still have time. Frugal Upstate’s photos and directions are dummy-proof. (Plus, they really make me want to eat a veggie sandwich!)

Beat this! From the makers of the hit website RetailMeNot.com (a favorite among many of us, including Paul Michael) comes an impressive upgrade to comparison shopping. While it’s still in the beginning stages, BeatMyPrice.com is a fun and fairly accurate way to find the lowest price for an item online. What really caught my eye was the way that it suggests coupon codes for the shopping outlets it provides, and it is slowly building a reader-based price guide for each item. I just tried a search for “Salad Spinner” and input a link to one on Amazon for $29.99. The BeatMyPrice.com tool gave me just one other product to choose from, but it happened to be a Wolfgang Puck stainless steel version for just 10 cents less. Bravo!

This article is from Linsey Knerl of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: