Hello Friends it is that time again where I provide you with some frugal tips to save you money now on this Friday edition. I know what you are thinking its payday, why do I have to be frugal? I want to burn a whole in my wallet to waste cash. Well I look at things a little differently as pay-day is the perfect time to be frugal and save more.
When you can double up on good opportunities, you will begin to see great results. Just last weekend I tracked my expenses and guess how much I spent, under $20 bucks for the whole weekend. Now I didn’t plan on this amount being so low, it just sort of happened. When was the last time you were surprised like that with tracking expenses and noticed a smaller amount in a specific time frame than expected?
Frugal Tips to Save you Money:
-Do not download Spending money apps like Groupon or Living Social.
-Avoid expensive things and brands to impress others.
-Download a budget app on the smart phone to help you track your income and expenses.
- Do not download apps like living social, because statistics show that when you get notified constantly you are more likely to spend more. Those apps are a marketing director’s dream because of the constant barrage of deals flooding your cell phone screen. Never in the history of modern society have we as a people been constantly distracted with opportunities to spend dollars. They package it so nicely and make it look like a great deal, but in reality if you did not need it last week why do you really need it today. Living Social is living pay check to paycheck. Because living social is giving you an absurd amount of reasons to fork over money to be in the social realm. If you need something then go on the site just that day and avoid the mobile app download.
- Avoid expensive things and brands to impress others- This frugality tip is common sense to me now because when people buy Gucci or Prada, they are for the most part trying to impress others. This kind of behavior is like high school way of thinking. After a few years from when you became an adult you should already know what are the brands you love and will support? Buying Gucci sunglasses with gold trim all over the sides is unnecessary in my opinion. Maybe I like buying nice classic looking items that can last me years, instead of current fads which are for the most part overpriced fads. Think about it, you just spent $50 dollars for a t-shirt that costs $5 to make or $300 for a pair of sunglasses when you could have gotten a decent name brand pair of shades for $75.
- Download a budget app if you struggle to keep track of income and expenses. Do you get hit with overdraft fees on occasion; well this will help you avoid all that nonsense. Every time you make a purchase take out the cell phone and track it, some are really user friendly and free to get. The best part is that at the end of the month you can take all the info and adjust your budget going forward, thus making you a budget maven.
Resources for Living a Frugal Life:
Comment if you would like to add a few of your own Frugal Tips to save you money?
Rich Uncle EL
Good tips and I liked your second tip avoiding expensive things and brands to impress others. It all depends on how we think and I personally would like to keep those branded ones which are highly priced aside when I shop.
Hey thanks Rita, it is a constant thing I have realized that many fall victim to buying brands for the sake of how others view them. I buy brands that I love and support, but only when they are priced right and have good quality.
I have been saving since I started working. My way of saving has always been budgeting every necessary bills first. Bills can include electricity, phone, groceries, and etc. With the remaining money I have, I would take a certain amount for savings. And then the last remaining money would be for my personal use. You should be aware of how much you can spend in between payouts. And then I would deposit the money directly to my savings account so I won't be able to touch it. Also, discipline is very important.