Saturday, July 19, 2008

Unleash Your Inner Frugular

There are many ways to cut corners and pinch pennies and not be destined to live a reduced-price life. Being frugal is state of mind and a great way to turn your economics around without denying yourself the simple pleasures of living. Hey, it's even cool.

A frugular has a balanced, honest and dignified approach to money management. It's someone who doesn't spend more than they earn or let money and material possessions rule their thoughts and desires.

A frugular does not buy on impulse.

Penny-pinchers use products and services resourcefully. This can range from timing a shower to having leftovers for lunch to washing and reusing disposable plastic bags.

There are many ways to release the frugular within you or to stop spending and start filling that cookie jar.

Here are just 3:
Savings:
Rather than stashing idle cash in low-yielding checking or savings accounts, put your money in short-term certificates of deposit or money market accounts.

Credit cards:
To eliminate all interest charges and fees, pay off your account each month. If you do carry a balance, switch to a card with a low interest rate.

Groceries:
Always shop with a list. Compare price-per-ounce or other unit prices on shelf labels. Stock up on items you regularly use during sales. Use coupons, but only for products you normally buy.