Is Being Frugal Worth It?
Frugality is simply the practice of looking for the less expensive alternatives. Frugality doesn't have to mean being a scrooge or living without comfort. Is it really worth the time and effort you put into things like homemade cleaners and clipping coupons?
Search the Sunday paper for coupons and clip them out. Make a list of things on sale that you can stock up on in order to get your average cost down. Plan and run a route of four stores in order to get everything where it is the cheapest. Total extra time spent: three hours. Now, save sixty dollars. This translates into twenty dollars an hour-a pretty good deal, don't you think?
Sometimes the small stuff is the big stuff, especially when it is repeated over and over. This is why it makes sense to save money on groceries. They are something you buy every week. Saving sixty dollars every week or two adds up over time. How you do it makes a difference though.
For example, suppose you don't want to clip coupons or spend time looking at sales flyers. Why not invest just an hour or two to figure out which store is cheapest for the things you buy? Then shop only there, and buy more of the things you use and like when they are on sale. You might still save $20 per week, with no additional investment of time. That's a $1,000 per year!
You need to sit down and decide how much time you have to spend on your efforts. If you do this and then figure out what your yearly savings can be, you will have a much clearer idea of how you want to proceed. It will also give you encouragement on those days when it feels you are missing out on something.
With only a few barely noticeable changes in how you communicate electronically-by phone and internet-and how you deal with electricity, let's face it we all have to deal with electricity, will start to show a savings in as little as a month. Below I have listed several things in both areas that will start you on your way to saving.
Cell Phones, Internet, and Communication Utilities
Avoid pre-paid cell phones, even if you just want the phone for emergencies, unless you are careful to use a plan with minutes that don't expire. You pay exorbitant rates per minute.
Never underestimate the minutes your teen may use. Be careful not to get the lowest plan. Constant overages are very expensive overall. You don't necessarily need a home phone if you have a cell phone. With free nights, weekends and long distance, you may save considerably. Be careful with phone plans that have low rates, because the taxes add significantly to the bill. For your Internet connection, you don't have to get the highest rate of connection speed. For the average user, you won't be able to tell the difference and that can save you $20 a month.
If you switch to broadband, don't keep your dialup (unless you travel often outside the country or in rural areas). Also, drop paying for AOL. All AOL features are free if you have broadband.
Heat and Electricity
Make sure your boiler and hot water heater are maintained properly. Wear layers of clothing and keep the heat lower.
Use kitchen and bathroom vents sparingly in the winter.
Wash laundry in cold or warm instead of hot.
Use a clothesline instead of using the dryer.
Use a ceiling fan instead of an air conditioner.
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