It seems like nowadays everybody tries to save a little (or a lot of) moola. There are many reasons why people are saving money and there are many ways on how to do it. I consider us a pretty frugal family. We cook from scratch 90% of the time, and often buy discounted (close to expiration date) meat and veggies or fruit. We rarely use paper towels - instead I bought a pack of 18 kitchen wash cloths or rags from Walmart (only $4!!) and they serve most of our needs. We use soap pumps throughout the house and only fill them about 1/3 with actual soap, and the rest is water. We love DIY (in case, you haven't noticed yet :), and we often buy wood, fabric or furniture for our projects on clearance, at thrift stores, on classifieds and yard sales. Or even get it from the side of the road. We can in summer and grow a garden. We frequent a local library as a family and we buy on sale more than not. We count every penny.
Yes, I consider us pretty frugal. But I'm no cheapskate. The Webster dictionary gives such a definition of a cheapskate:
cheap·skate - noun \ˈchēp-ˌskāt\
Definition of CHEAPSKATE
: a miserly or stingy person; especially : one who tries to avoid paying a fair share of costs or expenses.
We don't have cable (as part of us being penny pinchers :) but a couple of months ago I stumbled upon a few videos on Youtube from a popular show on TLC "Extreme Cheapskates". Here's the link to one of them if you are interested. But I would just put "Extreme Cheapskates" into Youtube search. Some of the ways (not all) how people save money in these videos are...well, I can't say they are necessarily inspiring - you know, to each your own- but they are definitely unusual. I'd love to know your opinion on them.
Why I don't think we are cheapskates? Because we often save for pleasures. We cut on some expenses so we can afford others. We save so we can have experiences and a certain quality of life now and, especially, in the future. We also save so we can help others.
What are your unusual ways to save money? Why do you do it? Are you a cheapskate? Where (if) do you draw the line?
I'm definitely not a cheapstake... there's a difference between cheap and frugal, being that one is all about numbers and getting something for nothing and the other is more about watching how you spend and trying to get value cheaply. I think the best way I save money is my most disliked one: having a budget and sticking to it for dear life. 3 years ago I randomly decide that $150 every 2 weeks would be enough money for all my non-bill expenses. Completely random number, but I'm surprised I've managed to get it work. It's extremely low for most intent and purposes, but you gotta work with what you've got.
ReplyDeleteI agree. The was a point in my life when I did coupons quite a bit to get things for free but now, I think, I found a healthy (in many meanings of this word) balance between needs, wants and how to get there. Budgeting rocks (even though it's not the funnest thing to do ;)
DeleteI draw the line at most of the things I saw on the Cheapskate Show. I watched a little when it first came out and was too grossed out with most of what they were doing to save money to watch any more.
ReplyDeleteYou have a pretty comprehensive list of the things one can do to cut expenses. One thing we have always done is live below our means. We have always had a smaller house and car than we can afford. That makes it easier to save up for the extras and emergencies that pop up.
That is so true about living beyond your means! That's what we are striving for. Some things on the show are gross, I agree but as I said before, to which your own. I think, in some cases it's a question of WHY. That's what I can't get!
DeleteHi Lena
ReplyDeleteWe use prepaid Tracfones instead of cell phones with contracts.Each phone with all the minutes we need cost about $100 a year.
Husband always takes a lunch from home to work.
We make and fix anything we can.
Husband is a certified mechanic and he keeps our vehicles running at a lower cost than a dealership would be
no cable tv here either.
And you are so inspiring! I wish my husband would be handy with vehicles :) But we too try to make and fix everything ourselves, and Hubby is excited to learn how to do things :)
DeleteI do a lot of the things you do, except canning. I don't can much, but I do freeze things from the garden. We also skip cable TV, make stuff around the house (I reupholstered my couch), shop with a budget, etc. One thing that has saved me a lot of money is making my own cleaning products. I used to spend a lot on Clorox wipes because I clean the bathrooms every day. Now I use spray bottles with vinegar and hydrogen peroxide. Also, I have money automatically withdrawn from our checking account to go into savings.
ReplyDeleteThis is awesome that you reupholstered your couch! I want to be you when I grow up :) I'm slowly switching to homemade cleaners but I still love my Clorox wipes :)
DeleteI consider myself thrifty. Yes right now we have cut everything out of our lives to get out of debt this year BUT we still buy things we need. I miss my blog..hopefully I can come back soon :( Im working on an idea....
ReplyDeleteJUDY!!! I miss you and your blog too!! Do come back!
DeleteHi Lena.
ReplyDeleteI do a spme similar things to you to save money. I also want to grow some veggies this year. I tried last year but we had so much rain that the crops just rotted away. We are being frugal (still learning)just to stay out of debt. We have never been in debt and it scares me so we do what we can to keep our head above water and save for fun things like camping holidays and days out or school trips. Our daughter is going on a school trip to paris in May so we're not going camping this year. We couldn't do both.
When I return to work I'm hoping that "successfully managing a small household budget" will look good on my CV.
Carolx
I absolutely agree with you. We've never been in debt either but I try really hard to pinch pennies so I can stay home with our kids and we could still make ends meet. And that often means prioritizing and making choices.
DeleteI hope you can have a nice garden this year! I've been gardening for the past three years, and I still have a lot to learn but I love it.
We don't have drying machine :) I'm not sure but I think that in Europe it's not so popular to have it at home like it is in USA. But I don't miss it :)
ReplyDeleteI've never even seen a dryer until I moved to the States :) I love it though. That is one of my luxuries, for sure :)
DeletePayroll deductions are our biggest form of savings!! Before we ever see our check all the big savings is taken care of. We live well below our means as far as a home and car, garden, put food up, coupon, watch for sales and save up for anything I can think of we will want to do from year to year but we (I) do get sloppy sometimes. One thing I am loving this year is Cindy's 52 week challenge, not sure what I will do with the money yet but I am sure liking haveing extra money in that envelope
ReplyDeleteOh, I really hope to be able to do Cindy's challenge next year. This year is just too unpredictable!
DeleteWe watched the very first episodes of Extreme Cheapskates when it premiered on tv. Nothing was on and my family was interested to see what these people did. We were a little sick to our stomaches by the end - the man that cooked that head of some animal. lol
ReplyDeleteAnyways, we heard a great idea from one of the couples. They go on a fiscal fast for part of the year. Where they do not spend any money and use what they have! We all thought that was a good idea.
I watched one of the shows from the most recent season and it was just people being cheap not frugal.
Oh, yes, I watched this one too :) Yeah, eating goat eyes and brains...brrr....We actually do weeks of fiscal fast here and there when we don't buy anything but, probably, not as often as we should.
DeleteI am frugal on some things and extravagant on others. I am not cheap or selfish. I save all my change for Christmas. We only eat out on gift cards. I set savings goals for things I need or want. I grow a large garden and do not buy convenience foods. Most of our furniture in our early years was given to us and refurbished. I just make things last. Take care of what I have and constantly look for bargains.
ReplyDeleteYou are such an inspiration to me. I wish I could spend a day with you just watching how you sew, and learning...Than I would rock DIY just like you :)
DeleteI wanted a certain kind of life for myself and my family: to be a stay at home mom, have a debt free life, a life that I know from personal experience would give them a real sense of security. My husband was on board and we live very well on an income that is considered by various folks as impossible to live upon.
ReplyDeleteWell we made it. One job, debt free, and our kids emulate that same philosophy. At least three do and I think the fourth will come aboard eventually now that he has kids too.
I don't garden (my husband doesn't see the point of it when it's all sold in the grocery) even though we've plenty of land to use, just not the equipment. But I do harvest foods I purchase in bulk at the grocery in season. We don't buy magazines (except what I get free from Coke points), we don't go to the movies very much (twice last year and that was two times more than we'd gone in twenty years!), we buy used cars, we buy used furniture which is often far better quality than we could buy new for four times the cost.
What we DO: visit our kids that live in state, go on vacation twice a year (yes TWICE), buy meats from a really quality market once a quarter, enjoy books and guitars, have cable tv (reconsidering that perk). We try to have fun, albeit our brand of fun, like picnics, road trips, museums. We enjoy our lives, simple as they are.
Our big goal, late as it is, is to save for our retirement...We want to be independent.
You give me so much hope that our boys will one day follow our footsteps and live a frugal life too! This is something I mostly have learned from my Mom, and it's nice to see that now they are reaping the fruits of their labor when they travel and have new experiences. And eat better than when we were young :)
DeleteI'm glad to see that you too enjoy the results of smart and frugal living Terri! Thank you for your example!
We have money taken out of our pay checks. If I don't see it I don't spend it :-)
ReplyDeleteI’ve been a part of the working population for some years now. And from that day I stepped out of the University, I started to think of saving for my retirement. Some may say it’s too early. But if you’re raised in a family who sees way far ahead than normal people do, you inherit that way of thinking. Say, for example, I was told that my college educational plan was set to motion even before I started to walk. Insane, right? Well, that gives you the idea. I think saving up for what’s really important is something everyone should really consider.
ReplyDeleteMelody Rosenbaum
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ReplyDeleteI recently sold a structured settlement for cash and am trying my hardest to be wise with my new-found money. Some of the suggestions in the comments here are great!
ReplyDeleteI'd like to know how to get my husband on board with this. We want to buy a house in a year or so and he spends money that, in my opinion, doesn't need to be spent (buying DVDs, beer and cigarettes as well as fast food). He has ADHD so he will completely agree with what I say and then just slip back into his "habits."
ReplyDeleteAll I can say is that it's a process, with trial and error, you know :) It wasn't easy to get my husband on the same page because we grew up in a total different environment. The biggest thing that helped us is to create goals and have weekly budget meetings. You can also set aside a weekly sort of allowance just for him for his needs/wants. This way he will not feel restricted but it will be easier for you to budget. Good luck!!
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