Frugality is such a bad word, it leaves a poor taste in so many people’s mouths, but it doesn’t have to be that way.
I personally get excited when I discover some new idea for the best way to save money, or cut my spending in some significant way, because I know that means more money in my pocket; more money that I get to keep.
So how can you practice frugality, and what can you cut out of your life?
Start with services
Take all of your bills that you get during the month and really look at them. What is absolutely essential, and what can you get rid of? For example, paying a subscription fee each month for digital satellite radio when you might not really listen to it much anymore. If you can cut it, it will save hundreds over the long run.
Examine all of your services this way, and see what you can’t cut. Maybe you have a land line and a cell phone, but you could get away with just one. Cut something! It all adds up in the long run.
Trim your services
Now look more closely at those bills. What are you actually paying for? For example, some people have a cell phone bill that might have 5 or 10 dollars tacked on each month for things like text messaging or picture mail or some other such features. Are you really using those features? Could you live without them? If so, cut them! You’re not just talking about 5 or 10 bucks, you’re talking about a recurring bill that adds up to hundreds over time.
Trim your vices
Now this might sound a bit silly, but it seriously can add up to big money over time. Look at your vices and your daily habits. This would include things such as:
1) A latte or fancy coffee each day at Starbucks (or an equivalent coffee shop)
2) Cigarettes
3) Booze or other drugs
4) Comfort food
Those are just some ideas to get you started of course. What else can you cut out of your life?