Welcome back,

In the last post, I talked about the art of frugality and how it is gaining popularity in our culture. Today, I will share some helpful tips to help you practice this art of money management.

Ready? Let’s begin

First, in order to be frugal, you need to find out why you want to be frugal.  For instance, do you want to save money for a emergency, vacation, finally get our of debt, or even have enough so you can live abroad for a while?   Finding out why you want to be frugal, will help when you are tempted spending money on unnecessary items.

Second, go though your expenses, and determine what areas you can cut down and save. This can also be very helpful in seeing how you are spending your money.  Then start planning your budget, putting the most important expenses first, then see how you can cut down the other expenses such as cable, electricity, water, etc.

Third, after doing the first two steps, find ways you can do things for free. Such as doing DYI”s, watching movies at home, making you lunch at home, etc. There are a multitude of ways to finding cheaper alternatives for everything.

Fourth, have a saving plan and set goals for each. You can have as many as you want. For example, for myself, I have a savings account specifically for my harp and travel. That way I know exactly what those savings accounts are for and I am motivated to continue saving for what I want. Currently, my sister and I are trying out the  12 week, 26 week, and 12 month savings plan. I printed all of these plans out last week, and this has really helped me seeing how being wise with saving money can really pay  off.  So, set those goals, manage your money wisely, and see that money accumulate.

I hope you found this helpful in starting your own frugal lifestyle. If you have any more suggestions, feel free to leave a comment.

Enjoy your day,

Alyssa