Frugal Living Requires Planning

by Miranda Marquit · 1 comment

If you are interested in frugal living, it is important to realize that a financial plan, as well as other planning, is necessary. Frugality doesn’t just happen. In most cases, you have to actively work toward outcomes that result in getting more for your money, and living a frugal lifestyle. Indeed, your planning usually has to extend beyond the financial in order for you to be successful in your frugal living efforts.

Financial Planning

If you want to use less money, you will need to make the most of all the financial planning tricks in the book. This means that you have to understand the way money is moving through your personal economy, as well as make a budget to help you direct the money in a way that maximizes your purchases.

It also helps to make plans for the future. Part of frugal living is understanding that you need to prepare for the future with emergency savings, and with retirement plans. Being ready for what’s coming financially requires a concerted effort, and plans to live within your means.

Planning Your Time

In addition to making a plan for your finances, frugal living requires that you plan your time a little more carefully. In many cases, the way you save money is by doing things on your own. If you want to save money on food, you need to make time to grow a garden. It can also help to know how to preserve your produce for use in the winter.

There are a number of other projects, from painting, to building a deck, to knitting scarves, that require your time. If you want to save money on these items by doing them yourself, you will have to make a trade off by spending time. As you make progress toward your frugal living goals, you will need to remember to make time for various projects.

Learning New Skills

In some cases, you will also have to learn new skills. Before you can build a deck, you will need to learn how. If you want to save your food, you will need to find out what is needed to become involved in home canning. For many DIY projects, certain skills are needed. At the very least, you need an affinity for the work. While it is certainly worthwhile to learn new skills to enhance your frugal lifestyle, the acquisition of these skills takes time and practice. You will have to plan for that.

Teaching Your Children

Finally, as you live frugally, you will need to teach your children to value the frugal lifestyle, and to live it themselves. You will need to invest time into making frugal living fun for your children, and teaching them contentment. If you want a harmonious home, as well as a frugal one, you will need to help your children understand why frugality is so important. Plan fun and frugal activities that will help your children develop fond memories, and that will help them better embrace frugal living.

Bonus Tip:

Another way to save on your monthly Internet and TV costs is to find a current ATT U-Verse coupon code or at least a promotion to knock down your home service bill.

{ 1 comment… read it below or add one }

Magnavox MDR513H September 7, 2011 at 11:08 pm

I agree about planning and having a budget. A budget could help me spending on the things that I wanted and have a limit on spending from impulsive buying. It is advantage on knowing additional skills since it adds my income aside from the usual work I am having.

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