_
How to Live Rich – But Frugal
_Staying above the line in terms of your debt to income ratio can be difficult if you are barely making ends meet. Having the option of putting certain expenses on a credit card may be appealing, but before resorting to a credit card cycle that will ultimately take money out of your pocket, it’s not your best bet. Finding simple ways to save money is a great step in living rich but frugal.
Thanks to the struggling economy, the stigma attached to saving money doesn’t exist the way it did just a year back. News everywhere was urging consumers to be mindful of the current social climate.
Even holiday party suggestions pointed out the importance of keeping it lean this year – both to be mindful of those who were less fortunate and struggling but also to protect your own pocketbook. When working with these suggestions, remember: It’s not cheap to be smart about saving money.
1. Go second hand.
Whether you live in a big city or a small town, consignment shops and thrift stores offer excellent bargains on perfectly good clothing and equipment. Scoring luxuries like designer jeans or a gently used tennis racket is a great way to add comfort items to your life without spending the cash.
2. Have beauty product/household supplies/linen swap.
Gather all your friends together and host a giant garage sale. The difference? No one’s paying for anything except for with items they already had. One person’s trash will be another’s treasure, so don’t assume those scarves Aunt Milda knitted for you belong in the trash. They might get you something you’ve always wanted during the trade.
3. Make things from scratch.
Purchasing items like bread and cookies can really take a toll on the grocery bill. Whipping up simple recipes at home is a great way to save money. It also teaches a skill that was starting to die off in our former climate of simple consumption – cooking. Gather together the kids and teach them what you know. The money you’ll save on your groceries? Priceless.
4. Host an under $10 wine party.
Everyone needs a luxury from time to time. Hosting a party where everyone brings the least expensive bottle of wine they can find is not only an exercise in fun, it’s a great opportunity to try out the wines that are in your budget but you didn’t want to risk trying. Bring a notepad and discover which $6 bottle tastes like it should be in the twenties.
5. Help your neighbor.
To save money on a sitter, lawn mowing, etc. enlist the help of your neighbors. Make a pact to help each other out with tasks that need to get done and rotate the responsibility. Having a support staff of people that can get jobs done on a barter system will help you save a pretty penny on things like childcare.
Don’t let the economy get you down. It’s still possible to live a rich life without getting yourself into debt you can’t manage. Use your resources and get creative to make it through this recession with luxury.
Thanks to the struggling economy, the stigma attached to saving money doesn’t exist the way it did just a year back. News everywhere was urging consumers to be mindful of the current social climate.
Even holiday party suggestions pointed out the importance of keeping it lean this year – both to be mindful of those who were less fortunate and struggling but also to protect your own pocketbook. When working with these suggestions, remember: It’s not cheap to be smart about saving money.
1. Go second hand.
Whether you live in a big city or a small town, consignment shops and thrift stores offer excellent bargains on perfectly good clothing and equipment. Scoring luxuries like designer jeans or a gently used tennis racket is a great way to add comfort items to your life without spending the cash.
2. Have beauty product/household supplies/linen swap.
Gather all your friends together and host a giant garage sale. The difference? No one’s paying for anything except for with items they already had. One person’s trash will be another’s treasure, so don’t assume those scarves Aunt Milda knitted for you belong in the trash. They might get you something you’ve always wanted during the trade.
3. Make things from scratch.
Purchasing items like bread and cookies can really take a toll on the grocery bill. Whipping up simple recipes at home is a great way to save money. It also teaches a skill that was starting to die off in our former climate of simple consumption – cooking. Gather together the kids and teach them what you know. The money you’ll save on your groceries? Priceless.
4. Host an under $10 wine party.
Everyone needs a luxury from time to time. Hosting a party where everyone brings the least expensive bottle of wine they can find is not only an exercise in fun, it’s a great opportunity to try out the wines that are in your budget but you didn’t want to risk trying. Bring a notepad and discover which $6 bottle tastes like it should be in the twenties.
5. Help your neighbor.
To save money on a sitter, lawn mowing, etc. enlist the help of your neighbors. Make a pact to help each other out with tasks that need to get done and rotate the responsibility. Having a support staff of people that can get jobs done on a barter system will help you save a pretty penny on things like childcare.
Don’t let the economy get you down. It’s still possible to live a rich life without getting yourself into debt you can’t manage. Use your resources and get creative to make it through this recession with luxury.