America’s thinking today is “the bigger the better”. “The more it costs, the more it costs.” “Get it now and pay later.” These ideas are just not smart. Our government is a prime example of the fact that our public debt is at a record high for which no one can pay.
A frugal life does not mean a choice of poverty and certainly does not mean a rejection of quality. Many millionaires are millionaires not because they became famous or because they inherited money. They are self-made millionaires who worked hard, made sacrifices and decided to spend money wisely. I’m not saying that all of us who work hard, sacrifice and spend money wisely, will become millionaires, but we can certainly live much more comfortably and carefree without getting out of stress because someone needs a salary.
Here’s what you can do to increase that salary:
1. Pay in cash. If you can’t pay in cash, don’t buy. Stop using these credit cards. Credit cards are a trap. The only way to use a credit card is to repay it in full each month. Otherwise cut! Charging something on a credit card and then paying it off over time costs twice, sometimes even three times more than the initial cost of the item. You’d better save a couple of months and pay in cash and then charge them while they try to pay with a credit card. Interest will eat you up.
2. Eat at home. Gather lunch and take it to work. Lunch costs daily from $ 10 to $ 15 a day. When you collect lunch, you reduce the cost to $ 2 – $ 3 per lunch or even less if you throw out the rest of the house. That’s savings of $ 160 to $ 240 a month. Not to mention when you cut down on food during lunch and eat at home with the family. This is an additional saving of $ 200 per month.
3. Make a budget. Budget your income at the beginning of each month. Early attribute a portion of income to fixed expenses. This will help ensure that you are not spending money. (Basic expenses: rent / mortgage, utilities, food, car payment, gasoline, insurance, savings, miscellaneous.) This will help you know what goes where and how much you have left after you pay so as not to spend.
4. Buy used or discounted new. You can get almost anything you need, either used or new at a discount. You just need to know where to look. Don’t pay the full price for anything. Big Lot’s, Ross Dress for Less, Nike Outlet, The Dump, etc. – just examples of stores where you can get new products at a discount. These stores also have sales and coupons for new items at a discount. Selling garages, renting furniture, thrift stores and nowadays the Internet is a great resource. eBay is a great tool for new and used items. You will be amazed at what you will find and how inexpensive it is once you start looking. No one will know the difference. You get addicted!