Some frugal lifestyle ideas that helps to save a lot!

Some frugal lifestyle ideas that helps to save a lot!

Frugal lifestyle is not at all desired by most of us, who have got the touch of the urban rush and fashion.

It is only after we have got the debt bumps, and felt the financial pressure, do we wish to live a frugal and controlled lifestyle. But, then also it’s not easy to lower our expenses immediately, and switch into a low-cost attitude.
We humans have a very strong sense of Ego, that is hard to tame. And, when this Ego is about splurging, showing-off, luxury, and pride, one may (‘sorry to say’), just never be able to welcome a frugal life!

Frugal living, is a sacrifice, but an easy one, if you are desperately willing to do it. All you have to do while trying to live frugal, is believing that you earn a lot less, than what you really earn!
The more you underestimate the amount of your income, better can you blend into a frugal lifestyle.
And, a few frugal steps, here and there, can actually help you save thousands, by the month’s end.
Follow on these frugal living tips, for a better financial life, that you surely deserve!

Aim to pay down your debts faster:

This might not sound as a frugal move or tip, but this is the first initiative, that you got to implement.
You can’t go frugal, with heavy financial burden on you. And, debts are the ones that hold you back from doing anything good, anything extravagant.
You should hence aim, to clear the debts as fast as possible. You can even get help of debt settlement, and save more money on the debt payments.
For multiple credit card debts, you can opt for balance transfer, and get an average interest rate for your total credit card debt.
Do all the things it takes to get rid of the debt amounts.

Make sure to use credit cards, only in dire straits:

This is entering the full phase frugality. The biggest financial problem causers for today’s consumers are credit cards.
Without any debate, credit cards are great, as they give access to buying power, in times of emergency, and unexpected need of cash.
Plus, you can buy a thing or two with your credit cards on the go, for which otherwise you might have to wait till your next paycheck.

But, we people misuse these cards a lot, either by not knowing what these cards are made for, or due to a false feeling of an increased buying power.
Most of us think, that credit cards serve as free money. As I was explaining to a friend of mine, the other day, that there is nothing called free money. Everything has a reason attached!
Nevertheless, credit cards do give you access to extra buying power, but in the end, it is you who’s got to pay for it!
Slow down a little, and pull those cards out from pocket, only when you really need them, and not just want them!!

Set up fixed percentages for expense categories:

This is one type of budgeting, that you can make use of, to build dedicated savings.
Frugality does not only mean staying low profile, it also means drifting a good chunk of your income toward savings.
When you are going frugal, you should limit your expenses, and expand your savings.
The best way to do so, is to break your expenses into broad categories, and assign them fixed percentages or fixed shares of your income!

Like, you can have a broad category called Food and Groceries. Anything starting from cookies to restaurant visits will be falling into this section. You can set this at 40% of your total income.
Next you can cap transportation and gas costs at some 20% of your income.
You can create multiple divisions, but make sure to at least allot 25% of your total income to savings!

Stop competing with the people you know, in terms of money and wealth:

The founding principle of a frugal lifestyle is to cease any type of competition you enter among your peer group, or family members.
Not everyone’s monetary status is the same, and neither should one try to match up to someone else’s financial standing.

You are who you are. You are unique, and you have your own grounding. You should not obliterate it in the quest of chasing a different person’s wealth standards.
Your friend got 5 new pairs of jeans, well you better be content with your two pairs.
Your uncle drives an Audi? No worries, you can for the time being use public transport, and work hard towards your career goals, to have better income in the coming years and buy a fancy car!

Your life is precious! You can be rich and save more than thousands each month, if you know where to hold the rail.
Frugal lifestyle is the best lifestyle you can lead. Believe in it, you will be happy.