Thrifty Spending
In order to live a thrifty life, you need to know more than just that you need to save money. It is also essential that you spend your money wisely. Consider the following ideas about what a frugal person can do with the money that they have worked hard to save.
Start out by making a list of the things that you need, want, and desire related to your money. Number the things you list in order of how important they are to you and try to estimate how much they would cost. Once you have your thoughts mapped out, you can go about making them a reality.
Paying more than the minimum payment on your mortgage each month or even just making one additional payment each year could mean that your mortgage gets paid off in half the time that it would if you always paid the minimum. Doing so will also save you lots of money in interest. When you make such additional payments, make sure that the money is being deducted from you loan's principal. Once you have the mortgage paid off, you can use the money you were accustomed to spending on that on whatever else you want.
Money you have been saving can be spent on home repairs and projects that you have long wanted to do. Some such projects might be simple, do-it-yourself jobs while others will require that you hire a professional. Money spent on making your home more beautiful will certainly be well spent.
Buy a newer pre-owned car. Even if your current vehicle is in good condition, you can get a newer pre-owned one. Your old car can be donated to a church, charity, or friend. Remember, though, that a newer car will be charged more in insurance payments.
Go on a dream vacation. If you plan your trip during the off season, you will be able to do more with less money and thus enjoy your vacation even more than you normally would.
While it is important to save your money for a rainy day and to prepare yourself for the future, part of the frugal lifestyle is also about enjoying the life that you have. This means that you shouldn't be afraid to set aside money that will be used to pamper, reward, or indulge you in some way.
Using the money that you have saved to congratulate yourself will be a great boost to keep on saving and living frugally.
Start out by making a list of the things that you need, want, and desire related to your money. Number the things you list in order of how important they are to you and try to estimate how much they would cost. Once you have your thoughts mapped out, you can go about making them a reality.
Paying more than the minimum payment on your mortgage each month or even just making one additional payment each year could mean that your mortgage gets paid off in half the time that it would if you always paid the minimum. Doing so will also save you lots of money in interest. When you make such additional payments, make sure that the money is being deducted from you loan's principal. Once you have the mortgage paid off, you can use the money you were accustomed to spending on that on whatever else you want.
Money you have been saving can be spent on home repairs and projects that you have long wanted to do. Some such projects might be simple, do-it-yourself jobs while others will require that you hire a professional. Money spent on making your home more beautiful will certainly be well spent.
Buy a newer pre-owned car. Even if your current vehicle is in good condition, you can get a newer pre-owned one. Your old car can be donated to a church, charity, or friend. Remember, though, that a newer car will be charged more in insurance payments.
Go on a dream vacation. If you plan your trip during the off season, you will be able to do more with less money and thus enjoy your vacation even more than you normally would.
While it is important to save your money for a rainy day and to prepare yourself for the future, part of the frugal lifestyle is also about enjoying the life that you have. This means that you shouldn't be afraid to set aside money that will be used to pamper, reward, or indulge you in some way.
Using the money that you have saved to congratulate yourself will be a great boost to keep on saving and living frugally.
About the Author:
Are you wondering how you could be negotiating lower payments on your credit card? You'll get plenty of helpful tips & advice on the Debtopedia website at http://www.debtopedia.com
posted by Credit Counseling at
11:56 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home