What Does Being Frugal Mean To You?

[Retired To Win]

Does it mean getting a sense of accomplishment from being smart about your spending? Or does it mean sacrificing and doing without what you would really rather have?

I call my approach “frugality without sacrifice”* and it has made me financially free years earlier. On a day-to-day basis, to me being frugal is a game** with little victory dances whenever I score a savings.

What about you?

# # #

*My Financial Independence Key:

http://retired-to-win.savingadvice.com/2013/12/17/my-financial-independence-key-separating_106169/

**Playing the Frugal Game is Fun!:

http://retired-to-win.savingadvice.com/2013/12/14/playing-the-frugal-game-is-fun_106129/

[Permanent Temp]

For me its evolved. It used to be using a lot of coupons and sacrificing things I'd rather be doing. But back then I had 3K on a credit card with a 30% interest rate. It continued like that until I finally paid off my last revolving credit card balance.

After that I felt I deserved things for being good. I almost made a ill planned purchase on something impractical and realized I could reach a financial goal instead. So now frugal for me means putting off things I don't need in order to have things I do need (food, a roof over my head, a decent vehicle.)

There are still somethings I'd rather have but being on this path for so long nothing as is tempting as freedom from debt feels.

I now save for those purchases instead of charging them and paying them off later. It's not real a deal when you factor in the interest paid.

Frugality for me is about common sense. I need to have a car to get to work, I don't need diamond earrings. I need food in my belly that will satisfy me nutritionally, I don't need a dour dollar brownie that will only fuel me for an hour at best. Etc

[hamchan]

I try to save money in ways where the difference won't be missed. Cutting out things I don't use. Using CC rewards to get free grocery store gift cards for spending money I'd have spent anyway. Buying good quality name brand clothing at the thrift store instead of new. Reading lots of reviews before making a major purchase so I can get the best quality at the lowest cost possible.

I'm not willing to buy the 89 cent bread that tastes like cardboard. It backfires because if my sandwich isn't appetizing I will often buy lunch instead. Same thing with any other food. I buy what I like, so I will actually want to eat it, and am less tempted by the myriad of fast food and take out options around us.

I am not willing to cut out stuff that I use often and really enjoy, or get a lot of value from on terms of time and convenience saved. Like having a smart phone. I will find the least expensive way to pay for my normal use of a smart phone, but I won't restrict my use of it substantially, or go without. I use Ting, which only charges you for what you use, and all of our phones are set up to automatically sign into WiFi at home and at work if it is available. That cuts down on the amount of data we use, and we don't even notice a difference.

We have an HSA to reduce our taxable income, effectively saving us 18% or so on all out of pocket medical care costs. I don't buy cleaning products besides dish soap and laundry soap. A bucket of hot water with a squirt of dish soap will clean just about anything. I only use paper towels for a very short list of specific things. It takes us months to use a roll. Normally we just wipe things up with a small towel and throw it in the wash. We buy a couple extra of things we use up when they go on sale so we don't have to pay full price for the same thing later on. We get gift certificates for some of the restaurants we like at Restaurant.com. We have everything we possibly can on auto pay so we never have late fees.

If push came to shove, we could cut back more, but there would be a noticeable difference in quality of life.

[snafu]

Hard to describe as it's cumulative from hundreds of small savings. I like the challenge of seeking value for money, researching expensive items to understand what's on offer, reading the small print and avoiding disappointment. I keep a notebook on potential savings...

* Don't buy things you can get for free [library books & DVDs, CU for checking a/c.
* Gift-giving holiday shopping year-round, buying on sale or clearance & keeping track
* Don’t buy new when used will do. [cars, clothes, computers, housewares]
* Buy off-season; decorations after the holiday, list big sales
* Create a “want” & waiting list, seek 30% price drop after 30 days
* Don’t shop when hungry or sad.
* Use a list. Save money reduce impulse buys.
* Windfall – raise, tax refund, or winnings pay yourself 1st 10% savings, plan spending from wish list
* Get a minimum of 3 price quotes (including fees and perks) Who really wants your business?
* You don’t get what you pay for, you get what you ask for. Negotiate expensive items – cars TVs, credit card interest,
* Source coupons online print or photo before buying anything at all. Don’t let Groupon deal convince you buy either
* Before buying something new, sell something old – offset the cost and create space.
* Swap movies, games, and books with friends to keep entertainment costs down. Share practical things, tools to carpools.
* Plan errands around your schedule to minimize travel. Do errands all on one day in one central area or do things when headed in a certain direction.
* Don’t be penny wise and pound foolish. Small maintenance expenses now can avoid giant ones later.
* Bring food and drink from home. What you can bring with you is cheaper and usually better
* Book a hotel room with a kitchenette to reduce eating out. Consider swapping homes for vacation lodging.
* Grow your own food or shop farmer’s market for local, seasonal fruits and vegetables.
* Use generic for cooking/baking and ask for rainchecks on out-of-stock sale items.
* Be energy efficient. Turn off lights, unplug devices you aren’t using. Make cheap efficiency improvements like sealing leaks and adding insulation

[Retired To Win]

I try to save money in ways where the difference won't be missed.Cutting out things I don't use. Using CC rewards to get free grocery store gift cards for spending money I'd have spent anyway. Buying good quality name brand clothing at the thrift store instead of new. Reading lots of reviews before making a major purchase so I can get the best quality at the lowest cost possible.

I'm not willing to buy the 89 cent bread that tastes like cardboard. It backfires because if my sandwich isn't appetizing I will often buy lunch instead. Same thing with any other food. I buy what I like, so I will actually want to eat it, and am less tempted by the myriad of fast food and take out options around us.

I am not willing to cut out stuff that I use often and really enjoy, or get a lot of value from on terms of time and convenience saved. Like having a smart phone. I will find the least expensive way to pay for my normal use of a smart phone, but I won't restrict my use of it substantially, or go without. I use Ting, which only charges you for what you use, and all of our phones are set up to automatically sign into WiFi at home and at work if it is available. That cuts down on the amount of data we use, and we don't even notice a difference.

We have an HSA to reduce our taxable income, effectively saving us 18% or so on all out of pocket medical care costs. I don't buy cleaning products besides dish soap and laundry soap. A bucket of hot water with a squirt of dish soap will clean just about anything. I only use paper towels for a very short list of specific things. It takes us months to use a roll. Normally we just wipe things up with a small towel and throw it in the wash. We buy a couple extra of things we use up when they go on sale so we don't have to pay full price for the same thing later on. We get gift certificates for some of the restaurants we like at Restaurant.com. We have everything we possibly can on auto pay so we never have late fees.

If push came to shove, we could cut back more, but there would be a noticeable difference in quality of life.

Hamchan,

Thanks for that super-thoughtful reply. I have underlined the things you wrote that I see as key expressions of what I referred to as "frugality without sacrifice" in my original post. It is the only way to go for me too.

[Blessed]

When we were young frugality meant a way to survive. Now that we are middle aged it means a way to save money on the unimportant things so we can meet our goals while still having money for the extra things important to us.

[Retired To Win]

When we were young frugality meant a way to survive. Now that we are middle aged it means a way to save money on the unimportant things so we can meet our goals while still having money for the extra things important to us.

Very well put!
(bold added)

[Blessed]

Very well put!
(bold added)

Thanks!

[Retired To Win]

Snafu...

Your list (below) is a HUGELY valuable resource and guide on HOW to be frugal. Why don't you craft it into a blog post (If you don't, I may.)... or turn it into a checklist as a page on your blog? Seriously, it is one hell of a fine effort.

Still, my question was not "how" are you frugal; it was "what does it mean" to you to be frugal?

See the difference?

Hard to describe as it's cumulative from hundreds of small savings. I like the challenge of seeking value for money, researching expensive items to understand what's on offer, reading the small print and avoiding disappointment. I keep a notebook on potential savings...

* Don't buy things you can get for free [library books & DVDs, CU for checking a/c.
* Gift-giving holiday shopping year-round, buying on sale or clearance & keeping track
* Don’t buy new when used will do. [cars, clothes, computers, housewares]
* Buy off-season; decorations after the holiday, list big sales
* Create a “want” & waiting list, seek 30% price drop after 30 days
* Don’t shop when hungry or sad.
* Use a list. Save money reduce impulse buys.
* Windfall – raise, tax refund, or winnings pay yourself 1st 10% savings, plan spending from wish list
* Get a minimum of 3 price quotes (including fees and perks) Who really wants your business?
* You don’t get what you pay for, you get what you ask for. Negotiate expensive items – cars TVs, credit card interest,
* Source coupons online print or photo before buying anything at all. Don’t let Groupon deal convince you buy either
* Before buying something new, sell something old – offset the cost and create space.
* Swap movies, games, and books with friends to keep entertainment costs down. Share practical things, tools to carpools.
* Plan errands around your schedule to minimize travel. Do errands all on one day in one central area or do things when headed in a certain direction.
* Don’t be penny wise and pound foolish. Small maintenance expenses now can avoid giant ones later.
* Bring food and drink from home. What you can bring with you is cheaper and usually better
* Book a hotel room with a kitchenette to reduce eating out. Consider swapping homes for vacation lodging.
* Grow your own food or shop farmer’s market for local, seasonal fruits and vegetables.
* Use generic for cooking/baking and ask for rainchecks on out-of-stock sale items.
* Be energy efficient. Turn off lights, unplug devices you aren’t using. Make cheap efficiency improvements like sealing leaks and adding insulation