While it may be easy to just say that I want to save more money, in the real sense, I find it pretty difficult to implement the resolutions I have listed for frugal living. Now that 2016 was just ushered in, there are things that I’m preparing to ensure I live frugally throughout the year. While 2015 has seen me save some money by changing my lifestyle to live a simple frugal life, want to make even more efforts in 2016. Here are the plans I have, as I prepare to be more frugal in 2016.
Buy a deep freezer
Many people would ask why I am buying an expensive appliance like a deep freezer, which is going to cost me a couple hundred dollars, yet I’m trying to be frugal. It may cost me thousands but it will save me more in the long run. I plan to start buying in bulk and on sale.
I have learned that many fresh foods can be stored and frozen on something like a cookie sheet before they are transferred into containers. For example, I can freeze diced veggies to be used in soups and diced fruits for making smoothies. The idea is to purchase food in bulk for my family and save money. This could amount to thousands of dollars every year.
Automate the bills
Sometimes, I have found that I incur penalties because I missed a payment for my credit card balance. The small penalties can amount to huge sums of money in the long run. Automating my mortgage, credit card balance, and other payments allows me to avoid being penalized or charged extra fees. I also have plans to automate my savings so that what I’m left with is the net earnings.
Determine the average price for products
I have been purchasing all my groceries in a local store within my area. However, I have not checked other stores probably those within my work area. So, I will have to compare the various food stores within my residential area and those situated near the work area and see if they are offering the same prices. By comparing different grocery stores, I may be able to find one that offers cheaper produces. Hence, I will most likely be dropping by when driving from work to pick my groceries at the cheapest grocery.
Start using the stranger test in shopping
One problem I have is that when I enter the supermarkets and grocery stores, I tend to buy things which I did not plan for in the first place. This has, a couple of times, stretched my budget and caused me to spend more than intended. I plan to start shopping but in a different way.
Before I purchase anything, I want to use the stranger test. This will help reduce my impulse purchases. In stranger test, I will consider if a purchase I want to make creates more value when I’m offered cash for the item or when offered the item itself.
In case I find that being offered a cash value for the item I want to buy makes me feel like the cash is more important, then I should stop buying that item. However, if I feel that the cash I’m offered does not make me feel like I can abandon the product for the dollar amount, I should continue with the purchase. Money spent through impulse buying could be used in urgent situations such as payment of my bills to avoid being charged extra fees and penalties.
Keep clothes well maintained to avoid visits to dry cleaners
The trips I make to a dry cleaner mean money. If I reduce these trips by keeping my clothes well maintained, I could save a couple of dollars every month.
Being frugal is my priority in 2016. However, I have to find out what little things are going to make a difference in my life to allow me make more money, spend less, and enjoy my life.