Are you frugal? How do you save a dollar?

[Rusty Blade]

Seems like everyone is pinched these days as income is lagging behind the increasing cost of goods and services. What are some of the ways that you and your family save money? YouTube is full of videos that share Depression era meal recipes and fix and mend tips. Maybe money is not a concern for you and you are anything but frugal.

I would start off with the amount of money I saved by starting wet-shaving, but I would like to keep this on a more serious tone.

 

[Toothpick]

If it’s brown flush it down, if it’s yellow let it mellow.

 

[DesertIguana]

I shop for deals on everything I buy, use coupons, what ads, buy meat that has been marked down, buy generic, or house brands over nationally advertised brands, take advantage of Military, Senior, or any discounts available.

Second when I purchase item I keep receipts for anything with warranty, if it fishy in the warranty period I get refund, replacement.

 

[Fourbtgait]

Being newly retired, asking myself if I really NEED that or just want it. Often I find that it serves no purpose other than instant gratification.
lol, I’ve turned into my father who was raised during the depression.

 

[The Blackadder]

I prepare the lather with the same water I brushed my teeth




On a serious note, I’ve controlled my desire to buy everything I see. I wait and think on it until I’ve decided whether I really need it

 

[ColtRevolver]

I save a lot on food by shopping for sales, coupons, and clearance items. I buy a lot of food from flea market vendors. I'm not against buying out of date food items, especially when I get it for a much as 90% off retail. As far as eating out goes, we probably eat out less than a dozen times a year.

I shop the sale racks for clothing at the end of the season. Most of my daily clothing comes from some kind of sale, clearance rack, outlet or even used.

I do nearly all of my home and vehicle repairs myself.

 

[Legion]

I am the stereotype dad who stomps around the house yelling at everyone because they never turn off the lights when they leave the room.

"Electricity isn't free you know!!"

 

[StillShaving]

On a serious note, I’ve controlled my desire to buy everything I see. I wait and think on it until I’ve decided whether I really need it

I think this is one of the best mental tricks. Especially even when something might be wanted rather than truly needed. I still splurge on unnecessary items but have realized that at least half the satisfaction (debatable?) of purchasing a new shiny object is learning about the available options it that category and only deciding to purchase afterwards. I am mostly referring to complex items such as a new vehicle, smartphone, kitchen appliance, tool, etc. But the same would apply to a new pair of shoes or shirt. If you still really want it after waiting weeks and it fits your budget, then it is probably a good purchase. Otherwise save or invest those funds to increase one's spending in the future.

The grocery bill along with insurance and property taxes have increased, but I don't see much way to lower that. It was shocking to see a bottle of salad dressing double in price in about 2 years and not come back down.

 

[Rusty Blade]

I grew up with Depression era parents who had to work hard to get by. They always told us never to go into debt to buy something. Exceptions to this rule was borrowing to fund your education or to buy a house. Everything else, if you can't afford it, save your money until you can buy the item with cash. Seems like so many people we know live with a lot of credit debt. My parents were wise.

 

[ColtRevolver]

I believe it's wise to shop for home and auto insurance every few years. Nearly everytime I have re-shopped, I have ended up with as much or more coverage as before and much lower premiums.

 

[Legion]

I grew up with Depression era parents who had to work hard to get by. They always told us never to go into debt to buy something. Exceptions to this rule was borrowing to fund your education or to buy a house. Everything else, if you can't afford it, save your money until you can buy the item with cash. Seems like so many people we know live with a lot of credit debt. My parents were wise.

The irony there is, in order to borrow to buy the house, you needed to establish a credit history.

 

[Rusty Blade]

The irony there is, in order to borrow to buy the house, you needed to establish a credit history.

True. They (and we) had credit cards but there were rules about their use, for example pay it off in full every month. Car loans had to be within your means. Basic rule was live within your means. No foolish accumulation of debt.

 

[The Blackadder]

I think this is one of the best mental tricks. Especially even when something might be wanted rather than truly needed.

Correct, I think the key word is “wait”. Usually the impulse subsides in about a week, and normally someone else has already bought the desired item. I’ve saved a good amount of money just waiting for a week to see if I still need or even want the product

 

[Fourbtgait]

True. They (and we) had credit cards but there were rules about their use, for example pay it off in full every month. Car loans had to be within your means. Basic rule was live within your means. No foolish accumulation of debt.

So many carry credit card debt. It’s not the companies faults, but the people not understanding the implications. If schools dropped certain classes and added in finance’s might help Because a lot of their parents don’t either.
never get a second mortgage either.
And vehicles? Repo’s are up again. People buy new cars/trucks more as a status symbol. An $80,000 diesel p/u and you don’t tow, work construction or farm?

 

[Chandu]

I'm still able to buy what I want when I want. I have never been frugal. I got the cry once buy once gene from my dad. He was a master machinist and perfectionist in his work and the tools it took to do the job. He would buy something cheaper but ONLY if it was as good as the more expensive option. If it was 1/2 as good at 1/3 of the price, it was not bought. Since he built firearms for a living, probably a good and sound choice.

I don't buy the most expensive, I don't buy the cheapest, I try to buy the value. That said, even things I only will use once or twice, I generally want better than the cheapest because the cheapest in use feels, well.. cheap.

Haptics and feel of something are very important to me.

I'm an outlier for sure.

 

[Rushman2112]

I use the MRT a lot more now than I did even a few months ago - the main reason is that a new line has been opened up that goes along the East Coast, with a station about 500m from our apartment, which then runs into the CBD and out to the north. The average fare, now I have a senior citizen card, is 87 cents while the same journey in a Grab (Singapore's version of Uber) would be SGD25-30. It's also generally faster, as the traffic here is getting worse.

 

[Legion]

I buy a lot of my stuff used. I don't care about being the first owner of something, if it is still in good condition. A lot of the time I can get better quality for less if the item is older. And I like using vintage stuff when I can, which is how I wound up here.

 

[m949]

I don't buy the most expensive, I don't buy the cheapest, I try to buy the value. That said, even things I only will use once or twice, I generally want better than the cheapest because the cheapest in use feels, well.. cheap.

Haptics and feel of something are very important to me.

I'm an outlier for sure.

A long-time mentor of mine, many years my senior, once told me this wise adage: "Only the rich can afford to buy cheap stuff."

Shop less, go for quality, spend more for it and keep it longer, never go into credit card debt...and think long (a couple of weeks at least) and hard whether it's an item you need, want and can afford.

I think we both have the same approach to consumption, for me value is much more important than price; the art is to find that middle ground between value for money and money for branding.

 

[musicman1951]

I go both ways on this question. I spent my 44 year teaching career saving lots of money - never paid a penny of credit card interest, never had a car loan (when I told my wife I needed a new car she asked, "How much do you have in the bank?" When the answer was $900 her response was, "Buy a $900 car."), Paid off our mortgage 10 years early, if it's not on sale don't buy it, etc.

I retired in 2011. The stock market has doubled in the last 3.5 years and all that money we socked away looks pretty darn good now. By most standards I'd consider myself rich, but I guess my kids will enjoy most of it because when you spend most of your life saving it's hard to flip the switch. Heck - they don't even give you a switch!

On the other hand, I drive my cars for 10 years and next spring time is up - and I'm considering a Lexus. I don't have trouble buying quality that benefits me in the long run. I have AE and Alden shoes - which at this age will last me the rest of my life. I own expensive instruments. For me the trick is to recognize which purchases will give me a little joy every time I use them. Lots of stuff gives me a little joy for a few months, but that's not where I want to spend the big money. You can only spend it once, but you only go around once.

 

[Toothpick]

I am the stereotype dad who stomps around the house yelling at everyone because they never turn off the lights when they leave the room.

"Electricity isn't free you know!!"

There are 5 of us that live in the house. There is always someone here. Some days all 5 of us are here, some days 4, but usually someone always here. Electric runs roughly $8-$12 per day over the Summer. Last week I was by myself for 5 days as the rest of them went to a family reunion out of state. My electric went down to $4-$6 per day. I was amazed! Basically cut in half with just a 1 person household!