How to Be Super-Frugal
Cutting back on expenses is one way to get ahead, but those who are super-frugal find every available way to save money. Looking closely at every aspect of your spending can open your eyes to hidden savings in what appear to be fixed expenses. Making clever choices in what you eat, how you drive and the fine print in contracts can lead you to reduce the strain on your pocketbook without sacrificing the quality of your lifestyle.
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Reassess your insurance. Talk to your broker or review your insurance with a trusted adviser to make sure you're getting the coverage you need for a price you can afford. Inquire about a flexible spending medical account through your employer, which could save you in health costs.
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Let go of the technology. In a gadget-crazed society, you might succumb to the pressure to buy the newest electronic devices to keep you informed and connected. Reassess these items -- and the bills that accompany them -- to see if they're what you really need. Reduce your entertainment costs by eliminating the television channels you don't watch from your package.
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Watch what you eat. Fast food is convenient but costly; a regular family outing to the grocery store can be a way to spend time together and to plan healthier and cheaper meals. If you choose to buyer higher-priced organic and other health foods, compare prices at several grocery stores to find the cheapest price.
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Cut back on gas costs. Taking public transit, walking and driving an energy-efficient vehicle are just a few of the paths to frugal transportation costs. Be sure to also check your tire pressure; an underinflated tire can reduce your car's efficiency. Driving more slowly will also cut back on fuel costs; slowing down by just 10 mph will do the trick. Plan out routes to avoid traffic, combine several errands into one driving trip and shut your car off when it would otherwise be idling.
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Clip coupons and check prices. Looking for sales in all places -- in-store, online and in your local paper -- are all ways to cut back on grocery items that you'll be taking home regardless. Beware of stores designed to encourage bulk buys; although savings might exist, there is a temptation to stock up on items you might not actually need.
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Budget your giving. Instead of offering a donation to every group that calls or comes to the door, budget an amount at the beginning of the year for annual contributions. Select a charity up front or take from that pool of money as needed and stop once it's depleted. Your bank account will remain healthy, and you'll know you've done your part to help.
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