How to Save Money on Practically Everything

Even before the latest financial crisis, research revealed that many millionaires had a frugal mindset. Their “waste not, want not” mentality was a factor in helping them achieve financial security. Lately, people of all economic strata have been reconsidering the subject of thrift.

Can you continue to enjoy life on a greatly reduced income? Are there ways to economize without feeling depressed about the need to do so? Good stewardship of what you do have can not only help you stretch those resources to continue to meet your needs, but give you a satisfaction that comes with the knowledge that you are not wasteful: you are doing the best you can with what you have.

The most important factor in reducing spending is to make intelligent decisions about what you buy. Think before you spend. On large items, never make an impulse decision. If you are tempted to buy a large item simply because it is on sale, remember that it will be on sale again later. Be prepared, however, to spend what you need to spend on quality merchandise, such as appliances, furniture, etc., because quality will always last longer. It is possible this could be the last time you buy an item (such as a leather couch or a high efficiency washing machine), so make sure you really like it. If the item is not on sale, ask the retailer when it will be and if you can get a discount now. If possible, buy the floor model. Look it over and if there is a small scratch (often something you can fix), ask for a reduction. Remember the retailers have also been hit hard by the recession. They want to make the sale, even if they have to reduce the price.

Real savings come when you purchase consumable items you use over and over again such as food, toiletries, etc. Before you shop for food, go through your pantry and refrigerator in order to avoid purchasing something you already have. If you must go to the store, you can often build a week’s menu around the “loss leaders” in the store. Those items are usually on the end of the rows and are sometimes very inexpensive. Keep coupons and loyalty cards in your wallet so they will be there when you need them.

You can easily stretch your consumables. Consciously use less than you have been using, such as: ? of the toothpaste on your toothbrush, apply shampoo once instead of twice, prepare ? of the rice you normally cook, frost only the top of a cake instead of the top and sides, put 2/3 of the amount of milk on your cereal than you normally do. You get the idea. Think before you cook, eat, or use a product. Slight reductions often don’t make any difference and in the case of food, can help you lose weight at the same time.

Make sure you use up a product before throwing it away. Before discarding toothpaste, for instance, cut off the end of the tube and use the last little bit. The same goes for anything else in a tube. Use a q-tip to get out the last bit of makeup from a bottle. Fill the empty dishwashing liquid bottle with warm water and shake to use the last of it. Using your creativity, you can stretch the use of quite a few products. Every little bit does count.

A lot of money can be wasted on buying gifts at the last minute. Plan ahead. When you see something on sale that you know someone on your gift list would like, buy it then and save it until the occasion. Wrap your gifts in creative ways: the comic section of the newspaper, an old map, an inexpensive cloth napkin (possibly one you found on clearance because it was one of a kind), or a paper sack decorated with stickers, etc. Instead of letting a birthday or Christmas make you anxious because you are spending too much money, look for creative ways to put aside gifts throughout the year.

Make gifts for children. Plastic bear-shaped honey jars make great “bear banks” or candy containers. Glue a family picture on cardboard and cut out for a puzzle. Create a story book by typing up a family story and inserting family pictures on each page. Make homemade play dough and use cookie cutters to play with children in your family.

You can save a lot of money on entertainment if you plan ahead. Your local library or church library may have a video or DVD that you can check out. You may also be able to borrow movies from a friend or neighbor. Instead of ordering pizza, make one yourself. Have spaghetti sauce, cheese and pepperoni on hand and if you don’t want to make a crust, use French bread cutting it lengthwise. Part of the entertainment can be having creative ways to come up with the tastiest and most unusual pizza. Fix popcorn on the stove and flavor it with parmesan cheese, butter, etc. instead of buying microwave popcorn. It is much cheaper. Replace soft drinks with homemade tea or lemonade. Instead of taking children to the arcade, play outside games with them or encourage them to invite their friends over.

Think in terms of “do it yourself.” Purchased croutons are expensive. Use bread that is too old for sandwiches, cut into small cubes, dip in olive oil or butter, sprinkle with garlic, parsley and parmesan cheese and brown for a few minutes in the oven. You can easily make bread crumbs in a food processor or blender and freeze for use later. Imagine what your grandmother would do. She would likely mend socks instead of throwing them away, make do with a certain size skillet instead of buying a new one, create a pillow, potholder or quilt from old clothes, recycle a chipped coffee mug into a flower pot or pencil holder, spend an enjoyable day working in the garden instead of going shopping, etc.

If your home has lots of windows, use them. Open the shades or curtains during the day and you might not need to turn on the lights. Even though you need light to read by, you may not need to turn on the light to make your bed, straighten a room, etc. On days when the weather is nice, open the windows. The savings of not running an air conditioner can be substantial and the fresh air is nice.

Do you need to vacuum when sweeping would do? Do you need to run the dishwasher or can you wash a few large items by hand instead? Do you need to drive to the store or is it close enough to walk? Do you need the telephone landline or does your cell phone service provide what you need?

With all of the practicality of frugality, you need to guard against feeling deprived. Give yourself a small weekly allowance to spend on anything you want: that special cup of coffee you enjoy, your favorite magazine, an ice cream cone, etc. It is possible to enjoy life with less money if you plan and use your creativity.

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My Name Is Helei Norrisons. Im write articles about saving money and coupons.

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