Prudent yet smart living

People who live frugally are often mis-judged to be misers. Playing thrifty is not hoarding money. Frugality treads a middle path between lavishness and being a penny-pincher. It shows that one is aware of conditions of the rest of the world. Also, these days when world economy is so unpredictable, it pays to be meticulous with money. YOUR money. Each year we draw up resolutions of how to make money and splurge it. It would also be wise to think ways of using the earned money sparingly, yet thoughtfully, for a better and simpler living.


Here are few pointers that one might find useful –

1. Needs and Wants: We often end up buying just because we or our kids ask for it or “want” it. I stop for a moment, before I pick up an object to buy and think if I can live without it for a week. If yes, I put it back in the shelf. After a week, I don’t even seem to remember or need the object! This drastically reduces clutter at home and gives way to enormous savings. Say NO to impulsive shopping.

2. Shopping: When going on shopping plan what you need. Take only the budgeted amount and you will be surprised to see that you would have often saved much more had you taken a debit or credit card with you.

3. Buy in Bulk: Plan and buy in bulk. This often reduces your numerous trips to the supermarket, your car/fuel and your precious time! Check your refrigerator or your stock room before you come up with the grocery list, since most of the times, we end up buying duplicates which burns a hole in the pocket!

4. Discount Sale: Do not always think that stuff bought in Discount sale is sub standard quality. Keep an eye on such deals and stock up clothes, stationery and imperishable grocery such as cleaning powder, toiletries that would last up to 6 months.

5. Kiddy expenses:

Do not use disposable diapers unless you are stepping out with your baby. Follow grandma’s advice to use cloth diapers. Yes, it does involve a bit of your time in washing but it’s definitely baby and pocket friendly. Buying disposable diapers makes a whopping 20% of the monthly expenses.
Make use of one sided printed sheets or a slate to satisfy your toddler/young kid’s writing /scribbling urges. Investing in a doodle pro or a fancy drawing book will anyways end up being in the trash since kids are kids!
Plan your kid’s stationery and stock it up for lesser cost, such a buy an extra box of student stationery, water bottles, snack boxes, panties, vests that you can always make use of. It is sometimes strikes a very good deal. Again a word of caution on these sales; buy what you need and not what you want.

6. Weekend entertainment: Weekends need not be spent only by watching a movie or hanging out with family/friends at the mall. One can have quality time being indoors playing family games as well as outdoor games! Family lunch/dinner at home is much cozier and less expensive. A visit to the mall will lure you to buy things, have expensive lunch/dinner and play costly games. Reduce your trips to the shopping malls unless required.

7. Fuel and Work expenses: Do try and make use of public transportation to its maximum use and this will help you to be more time oriented and disciplined. Also, helps in saving money on fuel.

Wouldn’t a warm lunch prepared at home much better than the burgers or half-cooked rotis being served at your office cafeteria? This saves lot of your time, energy standing at the queue, money and of course, your health.

We give in to peer or societal pressure and we end up doing things which are more expensive and less useful to us. There are umpteen ways than these listed above to save our hard earned money. We just need to slow down a bit, think and plan. Frugal living is sensible living. It makes me cringe when I hear of grand weddings, or themed birthday parties and other lavish affairs. In a broader sense, frugal living gives way to a calmer, peaceful life. More the life of vanity we lead, more we become greedy and wasteful.

Recently, Reader’s Digest carried an inspiring story of a Karl Rabeder, a millionaire who has given away all, ALL his riches for others and is going to live a life in the mountains with a monthly stipend of $1250! Giving away all his wealth itself is highly commendable, but to live with little money shows that it IS possible to lead a prudent and realistic life.

 

Thanks for your feedback, radhaa

 

Thanks for dropping in, Suresh and your feedback

 

Thanks a ton, Iniyamalar for dropping in and your feedback

Yes, living a simple life is definitely worth trying