Sometimes, frugality tips seem to focus on details rather than the bigger financial picture… I mean, bringing packed lunches DOES help, but sometimes getting a public transport discount card saves more money in the long run. Pennywise, poundfoolish my dad calls it. I agree to some extent; big saving decisions (rent, car, going out etc.) can sometimes matter much more than small stuff. However, I do find that combining big saving decisions with smaller frugality works quite well for me.
I work with a budget. I haven’t yet had the discipline to track my expenses in detail, but I have a pretty good picture. However, since I will be earning a lot more money from next month onwards, I want to really stay on top of my finances and continue to live within my means. This may sound a bit contradictory, but I don’t want to get too comfortable with my bigger income; I want to save a lot of money to serve as part emergency fund, part apartment/travel money.
Anyway, frugalness, or the pinching of pennies, can be a joy instead of a chore. What I do, is: continue to spend on the stuff that makes me happy (which includes having a coffee at my favourite coffee place), but cutting back on the things I don’t really miss anyway (eat breakfast at home instead of buying a sandwich at the station). There are countless personal finance blogs and advisors that use this tool of prioritising and I find it very helpful, as I can cut back without feeling restricted in what I can and cannot do.
However, I could do more. I want to:
-stop buying so many new CD’s and listen to the ones I own instead (or even better, throw a CD-listening evening with my friends to share our new music)
-stop buying books until I finish reading the ones I have
-buy clothes with ensembles in mind, so that I can create a lot of different looks with a few choice pieces
-get a thermos flask again so that I can drink the tea I brought along rather than having to buy it at the station/canteen
-buy only the groceries I need, OR immediately divide my groceries in portions and freeze the stuff I don’t need immediately. As long as I won’t have to throw away food, that’s what we’re going for here.
-borrow books instead of buying them
-not spend too much money on presents for people I barely know
-cook for friends instead of going out for dinner
-borrow and lend DVD’s, or better: watch DVD’s together with friends (rather than buying double sets or going to the cinema)
-wait with buying new CD’s until they become cheaper
-buy stuff through the internet rather than in the shop; often, CD’s and DVD’s are cheaper at Amazon than in the shop
-buy my veggies and fruit at the market instead of in the supermarket: not only does the market sell fresher produce, it’s also a whole lot cheaper
-cut back on calling people with my mobile phone: when I’m at home, I should use Skype instead as it’s free, or at least much cheaper
-get a membership card for the swimming pool instead of paying seperately for each time I go; it’ll be cheaper in the long run (and it will make me go to the pool more often)
Ok, so far so good. Anyone else got useful ideas?
