» The Cheapskate Guide: 50 Tips for Frugal Living Post written by Leo Babauta. Follow me on Twitter. Confession time: I’m a cheapskate. Some would say frugal, which sounds much more positive, but in reality I can be a real cheapskate. I am fairly frugal (though not always), but sometimes I take it too far: I have T-shirts with holes in them, I never buy new clothes, we’re shopping for a new couch because our current one has holes in it, and I ran my current pair of running shoes until the soles fell off. However, I have gradually learned to be frugal in many ways that I would recommend to others. Why live frugally? All of which you might believe, but I believe I do have a life. So, if you’d like some tips on frugal living, here are just a few, from a cheapskate. Go with one car. —Read more about simple productivity, focus and getting great things done in my book, The Power of Less.
5 Things to Do at 50 with No Retirement Savings EmailEmail Sometimes, it seems as though personal finance advice is all about what you should have done. But we’re all able to easily identify the mistakes we’ve made in the past. This is particularly true when it comes to retirement savings. 2. 3. 4. 5. Starting your retirement savings late is not ideal. Tagged as: 401k, Retirement Special Offer: Trade free for 60 Days and Get Up to $600! Related Posts
How to Downsize Your Lifestyle EmailEmail Many of us look around and wonder how we ended up with so much stuff. Sometimes I wonder why I spend the money I do on things that don’t get used a whole lot. There is a lot to be said for a little more simplicity, as many people have discovered during the recession. It is possible to spend less money, and still live a full life. And, of course, just because you can afford something doesn’t mean you have to buy it. Examine Your Expenses and Your Priorities Before you can downsize your lifestyle, you need to understand what you are spending money on, and decide whether there’s a better way to use your money. Look at all of your spending. Next, consider your priorities. Decluttering Your Life Another essential step in downsizing your lifestyle is to get rid of the clutter in your life. Technology can make your life easier in this regard as well. Making a Plan Finally, you need to make a plan for your money and for your life if you want to downsize your lifestyle. Related Posts
Worried About Reaching Your Money Goals? Just Set One EmailEmail One of the problems I have with goal setting is that I often set too many goals. Indeed, I’ll make a whole list of goals I want to accomplish — only to have most of them fall to the wayside. Instead of setting a whole bunch of money goals for the coming New Year, consider whittling it down to just one. What is Most Important to You This Year? Look at your financial situation, and consider your financial priorities. You can set up a similar plan with paying down you debt, or with saving up for a family vacation. Planning Your Efforts Every guru out there points out that you should break down your big goal into smaller steps. Your first step is to figure out where you’re at right now. Once you know where you are, and see where you need to be, you can start making a plan to get there. Bottom Line Don’t try to solve all of your financial problems in one go, or try to reach financial freedom all at once. Tagged as: Better Yourself, Budget, Money Management, Money Tips, Retirement
Three Easy Steps to Determine Your Financial Priorities EmailEmail When you are trying to make a financial plan, or reach a certain financial goal, it is important to have an idea of your financial priorities. After all, without priorities, it is impossible to decide what you should do with your money — not to mention figure out what actions you need to take to reach your financial goals. Determining your financial priorities can take a little bit of time, and it requires some introspection. The good news is that once you figure out what your priorities are, it is a little easier get your finances on track. First, Decide What’s Important to You Your financial priorities will be heavily influenced by what’s important to you. Next, you need to look to the future. Do your spending habits line up with what you want to do in the future? Second, Focus On What’s Important After you have determined what’s important to you, and set some specific goals, it’s time to focus on what’s most important. Third, Stay On Track Related Posts
How to Break Bad Habits EmailEmail Our habits may be based on our core principles, but the surrounding elements will often change them on a daily basis. Be it frugality, way of life or our morals, people around us slowly change our behaviors in a big way. When we were young, our parents help shape our values by setting examples. Do you have spending problems that cannot seem to be controlled? If you want to break your bad habits, you should surround yourself with people who don’t have that habit in question. My Spending Buddy One of our friends came to visit us for a few days and let me tell you why he’s special. Mentoring without Knowledge There are a few people I always have lunch with. The Frugality in Me If my parents never cared about money, it would be very difficult for me to develop my frugal habits. What I’m Trying to Say The people closest to you will always affect how you think and act. Our behaviors are shaped by people we are closed to. Tagged as: Better Yourself Related Posts
What Drives You to Be Frugal EmailEmail People who know me sometimes wonder why I’m so frugal. They question why I don’t seem to eat out. They can’t understand why I rather watch a movie at home than go to the movie theaters and they certainly don’t feel that I’m actually enjoying life. Frugal Living Isn’t Just About Cutting Down Many people may feel that being frugal is about having and doing less but it’s really about doing more with what you already have. My parents used to tell me that they made up all these wonderful paper based games because they didn’t have the money to buy anything else. True frugal living to me is: Enjoying what you have instead of what you can’t getDetaching Yourself from Lure of ConsumerismLearning that Happiness Comes from Within I’m not totally immune to consumerism. I’m not frugal because there’s a need. Tagged as: Frugality, Money Stories Related Posts
7 Habits of Highly Frugal People EmailEmail One of the most direct way to change your life, you need to change your attitude. No one else is responsible for what happens to you but you, so you can either complain about the things you don’t like in your life or you can set about changing them. Not surprisingly, this directly relates to the state of your finances. If you’re tired of living paycheck to paycheck, having your phone regularly cut off, or making excuses to skip dinners with your friends, then you can use these seven habits to take control of your money situation and live a happier and more frugal lifestyle. Habit One: Be Proactive The first habit to develop is to take responsibility; if you fail, you have no one to blame but yourself. [Here are 6 action steps to take when you feel financially vulnerable.] What most people forget is that though you can’t control the stimulus, you can control your response. How to be proactive for effective frugality: Take the first step. Habit Two: Begin with the End in Mind
Frugal Living | Frugal Tips | Frugality EmailEmail Frugal Living is not just a way of life, it’s also a state of mind. We can aim to generate as much income as possible, but wealth won’t accumulate without wise spending habits. Frugality is about stopping the money leaks while still living a fulfilling life and it requires a mindset adjustment in order to succeed. Here are a few articles to start you off on the right path. Frugal Living Tips And here are a few practical tips so you can live frugally and happily. Example and Experiments and Practical Advice Need more tips? Frugal Living – What Do You Think? Do You Think Saving Money is Always Worth It? This is actually the beginning. Wait, Here’s The Best Part You can also sign up for the free frugal newsletter, and for a limited time, I’m giving away a free 7-part mini course on how to live simpler, more frugal and be happy.
App unlocks crazy 'ticket splitting' trick that makes many British train journeys far cheaper Buying two separate tickets often FAR cheaperApp instantly tells you when and where to 'split' your journeys into twoUsers stay on one train, just buy two ticketsCan save hundreds of pounds per year By Rob Waugh Published: 15:04 GMT, 24 May 2012 | Updated: 15:04 GMT, 24 May 2012 The free Tickety Split app saves rail users up to 68 per cent by using a clever trick to get round hidden charges. An ingenious new iPhone app unlocks a trick called 'ticket splitting' which can save users hundreds of pounds a year. The app works out the ABSOLUTE cheapest way to get between two points - which is often, illogically, to buy two separate tickets for the journey. You don't get off the train, you just buy two tickets. It's perfectly legal, but train companies prefer to keep quiet about it - and the calculations have been too complex to carry out in a train station until now. The free Tickety Split app saves rail users up to 68 per cent by using a clever trick to get round hidden charges.
Make Your Own Witch Hazel Extract Someone had dropped off a bunch of old herb magazines at the barn. We use old magazines and newspapers to light fires in the wood furnace there. Anyway, Fred grabbed a bunch of them for me and I've been enjoying reading them. This recipe for Witch Hazel Tonic is from The Herb Quarterly (Winter 1994). First, here's a few paragraphs from the accompanying article on Witch Hazel: Witch Hazel has a long history of medicinal use, primarily as an antiseptic and an astringent. Many of these treatments passed on to the American colonists. Pure witch hazel extract, available in many drugstores and supermarkets, is the most frequently used form of the herb--more than a million gallons are sold each year. Witch Hazel is an oddball shrub. Here's the recipe: Although the Pilgrims' tonic is not as potent as the commercial extract, you can follow this easy recipe to have fun brewing your own witch hazel remedy: Prune one pound of fresh twigs from shrubs as soon as they have flowered. Onwards, Witch Hazel