Frugal Ways to Live

A frugal life is a way to discipline yourself and exercise your willpower from temptation such as advertisements to seduce you to spend more to live the way as suggested by advertisers. You are happy to live the way you want and you don’t bother about how others live or what others think you should live.  Here are the ten ways to live a frugal, carefree and meaningful life:

1. Transportation: Instead of owning a car which depreciates in value and costs a lot to maintain, take advantage of a public transport system such as MRT or buses.  Where public transportation is inefficient, get a small car capable of taking you from point A to point B.  A small car uses less petrol and the maintenance cost is much lower.
2. Clothes: Look for comfort and durability instead of brand names. Shop for apparels when there is a sale on. You can get the same item much cheaper.
3. Home: Get the right size to accommodate family members to live in, not too big and not too small. Keep it simple and neat to promote the flow of positive energy.
4. Shopping: Always use a shopping list and stick to it. Shop when sales are on or buy an item when there is a promotion. Use appropriate coupons for further savings.
5. Savings habit: Pay yourself first to build an emergency fund or save for a big-ticket item. The habit of savings means you are living within your means and you will stay out of debt.
6. Need or want: Always ask yourself: Is it a want or a need? Live a simple life with the essential items only.
7. Invest in the long term: Avoid get-rich-quick schemes. An establishment takes time to grow and so your investment will also take time to grow and appreciate in value
8. Give up bad habits: Quit smoking, drink less and avoid gambling. These habits are not only bad for your financial health but also your physical health.
9. Develop passive income streams and more income sources: Income from your investments and rental income are examples of passive income. You don’t spend time or effort to generate these sources of income. What can you do to earn extra cash when you are free? What are your strengths? Are you good in language?  You can conduct language classes as a tutor. What about your hobby. If you are interested in photography you can become a freelance photographer. Do you enjoy blogging? The potential to earn money with a blog is huge.
10. Reduce expenses: Eat more often at home, avoid junk food and soft drink Watch less TV and stop subscribing to cable or satellite TV. Don’t surf the net aimlessly. Be active; go jogging instead of joining a health club. When you can walk, you don’t drive.

A frugal life is a simple life and yet an enjoyable and healthy life which gives you peace of mind.