subject: A Frugal Lifestyle [print this page] Living on less money is a necessity for many of today's homeowners, with only a fourth of the entire country's population earning enough to just about cover their household expenses. If you want a better chance at stable finances, you'll need to scrimp and save on a lot of things. Here are some small ways with which you can save money and stretch your budget:
When you go grocery-shopping, try to avoid premium and branded consumer goods. If possible, go for an in-store or generic product after you've searched for the ones with the best prices. Also, you can stock up on household items and non-perishables during clearance sales, as well as add to your purchasing power with coupons.
Reserve the option of dining out for very special occasions. If you can't stop from eating at restaurants, make sure that you only do so every once in a while. You might be able to stop dining out as often if you examine what you order at a restaurant and look at the price - you'll be surprised at what you can buy from the market and cook at home with what you've paid for a solo dinner out, plus tips.
When you buy clothing, avoid high-end brands. If you can't resist, buy clothes off-season or on clearance, and choose classic, versatile items that you can match with other items in your wardrobe to create completely different looks. Otherwise, shop for good brands at their outlet stores, or stretch your clothing budget even further by going to a thrift store for pre-loved clothes.
If you're going to move, downsizing to a smaller home that's more convenient to maintain can be a great money-saving option for the long term. However, make sure that you can cover moving expenses, the costs of living in your new location, and the property taxes in the area.
Living well within your means doesn't just equate to less financial stress today, but could also be a way to ensure a comfortable retirement in the future. Cutting back on the non-essentials and finding good deals on the bare necessities can help you achieve financial stability and eliminate the stress that comes with spending much more than you make.
