Stretch That Dollar

Sometime in the 1990s, the “new” environmentalism brought thrift and recycling back in to the public eye. In the twenty first century, the Internet has provided a knowledge rich, friendly forum for people to share their expertise and experience. Today, there are a lot of us out in Cyberspace searching for ways to tighten budgets, save for houses, send kids to college, and simply get through the week. Apply yourself to these golden rules, and you will gradually reform your freespendin’ ways without spending hours on the web sorting through tips.

1. Eat Your Own Food.  Most of us will save a lot of money. Pack a lunch, make dinners ahead, etc., but don’t eat out very much at all. For extra savings, cook mainly from scratch with items you’ve purchased on sale and cut out the packaged foods.
2. Don’t Waste Energy.  One timely example is gas. Do errands on the way to other errands on the way to work. Don’t make a lot of single trips. In the house, turn off lights, televisions, and computers when you aren’t using them. Ensure your weather-stripping is good. Caulk leaks, tighten faucets, and don’t excessively water your plants. Turn down your thermostat two degrees in winter and up two in the summer. Turn your water heater down to 120 degrees.
3. Don’t Waste Time.  A lot of people dabble with the idea of being frugal a long time before they actually do something with all that web-acquired knowledge. Start doing something today and build on it, whether it’s making your own pizza or writing down what you spend.
4. Don’t Be Afraid.  Remember, thriftiness and stinginess are two different mindsets in a mentally healthy individual. In fact, thrift can provide a path to being extra generous to others in need by freeing up resources to lend a hand. Realize that you are “bucking the system” in your own way and be proud of your independence. Without confidence, your progress will be slow.
5. Use It Up, Make Do, Make It Last, or Go Without. This is pure thrift poetry. Turn over the shampoo bottle for the last bit. Wear last year’s coat this year. Use a lip brush to get the last of the lipstick in the tube. Live without soda or cable. The longer something can be used or its purchase deferred, the longer money is in our pocket. If we use less over time, we spend less.

This entry was posted on Monday, September 10th, 2007 at 5:39 pm and is filed under Money Savvy, Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.