How to Live Thriftily Every Day

Thrifty living can save money without sacrificing personal comfort.

Although people commonly associate thrifty living with being cheap, a thrifty lifestyle involves using strategies to reduce financial waste rather than doing without necessities or purchasing low-quality products. Thrifty living can help you to save money for education, retirement or vacations, or can allow you to work fewer hours while still maintaining a comfortable lifestyle. Simple strategies can help you practice everyday thrift to maximize your purchasing power and boost your savings.

Instructions

1. Unplug laptop, desktop and cell phone power cords when not in use. Computers on standby can waste energy and drive up your electric bill. Cell phone chargers can also waste electricity even when you are not charging your phone.

2. Organize a barter exchange in your neighborhood instead of paying for services that your neighbors can perform for free. For example, you could mow a neighbor's lawn in exchange for her babysitting your child for an evening so you and your spouse can enjoy a movie or a quiet dinner.

3. Use a bicycle for short trips instead of driving. Bicycling not only saves fuel, but it can also help keep you in shape without an expensive gym membership.

4. Prepare meals at home instead of taking the family to a restaurant or opting for take-out meals. Buying in-season produce and locally farmed meats at your local grocery or farmer's market and preparing your own meals can reduce food costs while still allowing you to enjoy appetizing meals.

5. Enroll in your supermarket's rewards program. Most supermarkets offer programs that provide savings on everyday grocery items, toiletries and household cleaning items when you scan your rewards card at checkout. Some supermarkets even provide discounts on automobile fuel purchases based on how much you spend on groceries each month.

6. Purchase children's clothing at a consignment shop or on an online auction instead of buying these items new. This can help reduce your clothing costs, particularly when your children outgrow clothing quickly. If the clothes are still in good shape when your children outgrow them, you can auction or consign them to recover some of your costs.

Tips & Warnings

• Form a cooperative purchasing group with neighbors, friends or family members to purchase items in bulk. Buy nonperishable goods in large quantities through consumer warehouses and distribute the items among your group members according to their needs.

References

• "Be Thrifty: How to Live Better With Less"; Pia Catton, et al.; 2010
• "Teach Yourself Thrifty Living"; Barty Philips; 2008