People often think that the word frugal means that you are a cheapskate. This, of course, is not true. There is a distinct difference between the two. Frugal is living a lifestyle on a modest budget in preparation for a goal in mind. Perhaps, saving for a home or car. A cheapskate implies someone who does not like to spend money on anything. Living a frugal lifestyle takes discipline, it is not for everyone. If you are interesed in a frugal lifestyle continue reading.
There is nothing wrong with eating out once in awhile with friends or family. The problem occurs when you are eating out every day. As you know this can add up, and before you know it the money spent at restaurants could have easily been allocated to groceries. Keep your costs down but limiting dining out to 2 times a month or invite friends over for a potluck.
Shopping is fun and naturally we need to replace the old with the new. In doing so, don't go broke. Give yourself a clothing allowance and stick with it. There are many places to get designer clothes at an affordable price. TJ Max, Marshall's and Ross have a nice selection of clothes with great prices. You can even find items by famous designers such as Vera Wang at Kohls.
When at all possible avoid getting a loan and buy your own car. Avoid sports cars or SUVs.(unless you can afford to do so) Instead opt for buying a car that is economical, reliable and has good mileage. The main idea is that it gets you from point A to B. Don't be afraid to bargain shop until you get the car you want. Do consider special car warranty programs if available.
There are times when we have to be honest with ourselves and our wallet for that matter. We have to be aware of what we can and cannot do financially. It is important to remember to live within your means and not try to be in competition with others.
Creating a budget is the best way to avoid "impulse" spending. You shoppers out there know what I am referring to. It is getting a wild hair to buy things you don't need. If you stick to buying things you "Need" vs. things you "Desire", you will be able to save a great deal of money. One step at a time.
Clearly, there is a thin line between saving and being too frugal to the point of being unreasonable and making others feel uncomfortable. It is easy to see where the negative connotation comes from. Just remember like everything else in life, there must be a balance.
select one here...