Saturday, December 13, 2014

3. Efficient Transportation. 

Make a list of your groceries ahead of time, plan your day and route for doing everything you need to do that day efficiently can make a difference. If you pick a grocery store and pharmacy close to your work,  you can swing by on your way home. If not, then you can still do a weekly or biweekly grocery day. If you have to drive special to a grocery store everytime you need something, think how much time, gas, and energy you waste.

I usually get my groceries in one store close to my work on my way home on bike, so I don't need to go back there again until another week or even month. I get my other needs from the other store on my walk way to meet my friend. Combining (all possible) tasks within the same route makes everything simpler.

Wednesday, December 10, 2014

3. Buy what is on sale and in season. 

Either it is vegetables, groceries, fruits, clothes, or most other things. Most of the time brand is not important. Quality and price is important. I know you say brand means quality! Not necessarily! I have "unknown" brand clothes that have really good quality. Choose what is most reasonable (not necessarily have to be the cheapest one), but choose a product or produce that have good value. And most important, what you can afford.

Now once in a while,  it is more reasonable to buy an expensive product. I know a friend of mine (who is a teacher and has to stand on her feet most day) bought a pair of expensive Morgan shoes because she knows she would wear them every day for maybe 10 years. That is a good purchase. Eventhough she bought them also after knowing that she can afford them.

You also sometimes have to check the price of products or produce in two or three different stores. Sometimes you will find out that one store sells the same product for half price than the others.

Sunday, December 7, 2014

2. Pay off your bills.

It is important to pay off what you owe from your credit card or your other bills (gas and electrics, phone, insurance, and others) before its due date. It is easier to do it by staying within your budget and keeping track of your spending. I always keep the receipts of all my purchases and take notes of how much I spend every week. That's how I know if I overspend my budget and compensate for next week. If you use your credit card, then you can probably keep track of it from the bill. But the bill usually comes monthly, which too late. For myself, I find it quicker if I calculate all of my weekly expense from the receipts.

If you decide to do it from the bill, you can do it every month. But DO read your bill! Your debt won't just go away because you don't see it. Pay off your debt before its due time so you won't have to pay any interest. If you don't pay off what is due, then you will have to pay more from what you spend. Now that is wasting money! You work more to pay for that. The more often you do it, the more you have to pay. The more you have to work just to pay for the interest. All because you're not discipline enough to keep track of your spending and pay your bill. Because you're not discipline enough to stay within your budget or patient enough to wait until you have enough money to spend. The choice is yours. Work more for nothing or get just enough for what you need.

Saturday, December 6, 2014

Tips on Saving:

1. Buy what is needed first. Save money, and if you have enough, you can buy something else  you want for pleasure or fun.

Some people believe in "enjoying" their lives. They spend, spend, spend, and spend. Afterall that is why you work. You would like to enjoy the fruits of their labor. It is understandable. As long as you know you have enough fund/money to pay for your first priorities (Food, Housing, Clothes, and Health), that is fine. Many people, though, don't even bother to check whether they can afford those leisure spending. It is not much afterall. Only what is not much can be a lot in total if you do it often.

What is the point of spending money until you're broke and then don't have any money left when you need it for something that is more important? It doesn't make sense to get it by borrowing money and then pay extra for the interest, if only you can just wait before spending it on something that is less important.

Friday, December 5, 2014

The Principles of Living a Thrifty Life

Tips on saving:

 1. Live within your means.

 2. Prioritize your needs. Food, house/apartment, clothes and health is your priority.

 3. Keep track of your spending.

Little expenses that you think don't make a big deal would add up if you do it often. if you don't keep track, you won't know it until it's too late.

 4. Keep some money for rainy days. Be reasonable.

If you cannot afford something, consider an alternative. Is buying a gucci bag really necessary if you need to borrow money for your mortgage? If you cannot afford organic food, just get a regular produce but wash them well (salad for instance), or grow your own crops. If you must have organic food, consider to lower your expense for some other stuff. The essence is you don't spend money more than your budget.

 5. Swap ideas or stuff with your friends or family members. be resourceful.

Asking people close to you, like your friends or family members will open an opportunity to be thrifty. Sometimes i give my garden produce to my friend who in return brings me a really nice loaf of bread that she gets free from the senior center. I gave my unwanted nice clothes to another friend, while I get some other clothes she gets from her other friend. You get something you need (and something you want) without spending any money.