Four Ways to Live Frugally
When you are on a budget every day, it can be difficult to spend money on things for yourself. That could be a poster or even a new DVD. You might need to focus on the bare necessities for yourself, such as food and cleaning products. If you are able to save a little bit of money, you may be able to afford to spend some money on yourself or maybe even go on a trip. With healthcare costs and rent or mortgage payments skyrocketing, living on your own can be a costly endeavor.
However, if you take these four steps, you can save a lot more money than you might be now.
1.) Live in The City Your Job is In. Living in the area your job is located will not only reduce the miles on your car, but can also make your gas bill a lot less expensive each month. You will not be burning through money just to get to work and back. If you live close enough, you may only need to purchase gas a couple times a month.
2.) Buy Generic Brand Products. According to the Private Label Manufacturers Association in February 2013, you can save around 30 percent on grocery trips if you buy the generic store brand label. While you may not think it is the cool thing to do, you may be astounded that you can save such money. In fact, some generic brand products such as those of Costco’s Kirkland Signature brand can be of great quality.
3.) Budget Your Money. As with everything, if you are a salaried employee at your work or in a fixed hourly rate, you need to put a certain amount of money aside each month for food and rent. According to Gallup, young adults spend around $173 per week on food. For those earning $75,000 or more, they spent about $180 per week. All you have to do is pay attention to your money and you may see how much you can save.
4.) Save For Things You Want to Spend Your Money On. You might want to go to Hawaii on a trip. Perhaps you are looking to buy a brand new television. These are things not considered to be as necessary as food or clothing. However, you can afford a trip or a new television if you look at the money you make each month and seek to save a little bit at a time. Having savings goals for yourself will not only benefit you but it will make you smarter, and help you to see how far your dollar can go.
While the world may be a difficult place to save money with work and social obligations, you might find that you can put a little bit of money away each month to benefit yourself in the long run. Just watch how much you can save if you put your mind to it.
About the author: Tommy Zimmer is a writer whose work has appeared online and in print. His work covers a variety of topics, including politics, economics, health and wellness, addiction and recovery and the entertainment industry.