If you’re trying to live more frugally, you already know that you need to cut down on your spending. The trick now is finding ways to accomplish that. There several different methods to reduce your spending, so you can choose one that works for you (or combine methods if you are really needing help!)
Put yourself on an allowance.
Do you remember the days when you were a kid and you were given a weekly allowance by your parents? Back then you were probably extremely skilled at stretching that allowance to get the most out of it. Why not revisit those times? Determine a reasonable amount for you to spend during the week (not counting fixed expenses like rent or your car payment) and put that amount in your purse or wallet. Whatever happens over the next week, don’t increase that amount. Before long you’ll be an expert at getting the most out of your allowance again.
Remind yourself why you are cutting expenses.
Are you saving for a down payment on your first house? Maybe you are saving for your wedding expenses. Whatever the inspiration for your desire to spend less, that inspiration can help you stay on the path to reduced spending. Try carrying a reminder of your goal with you. You could carry a picture of your dream house or a sample wedding with you wherever you go. Then, each time you open your wallet to purchase something, you’ll be reminded about your goal. Is the item your about to purchase worth delaying you goal?
Start running (or walking).
The point here isn’t just to get from Point A to Point B. If you are exercising regularly, you’re spending part of your day doing something that doesn’t bring any temptation to spend money with it. Instead of walking around a department store, put on your sneakers and walk at your local park. You’ll save money and get in shape at the same time.
Volunteer at your favorite charity.
Like the exercise option, part of the reasoning behind suggesting that you volunteer is using your time in a way that doesn’t encourage you to spend money. However, there is an added benefit to volunteering. When you are surrounded by people who are less fortunate than you are, you may find that the new pair of shoes you’ve been coveting doesn’t seem quite as important as it did yesterday. Remember how lucky you really are.
Have an exchange party.
If you just have to have something new, but you know it isn’t in this month’s budget, host an exchange party for you and your friends. Everyone should bring something from their home that they no longer want. Select something that is nice, but you’re not in love with. Maybe, you received a beautiful vase from your boss for Christmas. Although you are touched that your boss cared enough to get you a gift, it’s excessively modern style doesn’t really match the shabby chic décor in your home. This type of item would be perfect for the exchange party. Choose a method of switching objects. Try to pick something that you and your friends will enjoy like playing games with the objects as prizes. The only rule is that no one goes home with the object they came with. By the end of the night, everyone will have had a good time and will have something new. And no one spent a dime.
{ 5 comments… read them below or add one }
Put yourself on a thirty second (or minute , if needed) delay for all purchases. Ask yourself if you need/want the item.
This should eliminate a lot of unnecessary spending
I make my own food and i do not mean to poke fun @ paris girl but allowance and eating out? is that an oxy-moran? this is not savings money but, carpooling everyother week , cooking the night before for work saves alot. i work with people that eat out breakfast and lunch plus cigarettes it must cost $20 a day to “gog” to work w/o gasoline but i like your blog and have you my blogroll. keeep up the good work
My family and I live overseas and we volunteer occasionally at orphanages. That has been our insurance policy to live within our means and leads us to be grateful for what we already have. We try to be satisfied and not want so much.
I love the idea of giving yourself an allowance. I just started using cash only for food and eating out. It works great for helping me stick to my budget. I look in my envelope and if there isn’t a lot of money left, I think twice before spending it on fast food or Starbucks.
Great comment about volunteering! Getting the focus off of ourselves and our “wants” and onto others and their “needs” puts things into perspective!