When you think of the word frugal, what comes to your mind? Perhaps you think of low cost, cheap or thrifty. These terms all fit in the category of what is considered frugal. Because of the economy, so many individuals and families have been experiencing hard times and are keener to having a frugal lifestyle. Especially is this true with families, big and small. Living on a budget and being mindful of spending habits can keep families afloat, despite hard economical times. Just how can families accomplish this? Here are few ways families can live frugal and save, despite hard times.
Avoid Being a High Tech Family
In this day and age, technology has soared. What used to be considered the basics are nothing of the sort today. In a typical family home, you may find that not only do the mom and dad have cell phones, but all of the children do as well. Not only does the whole family have cell phones, but they have other costly gadgets such as tablets.
To cut cost, you could ask yourself: Does my family really need these gadgets? Could we limit how many cell phones and tablets we own? Or could we at least invest in cheaper cell phones, perhaps going prepaid?
Shop Smart for Clothing
Shopping for clothes for a large family can get quite expensive. Therefore, it is ideal to shop either on clearance racks or at secondhand stores. With these two options, you can still get quality clothes, but at a cheaper price. Some have even been successful with buying clothing lots off of eBay at a rather fair price. A good reminder concerning children’s clothes is to do your best to keep them in good condition. Why? Because once you are done with them someone else can use them and you could make a profit by reselling them yourself.
Cut Down On Eating Out
It is not only healthier for you to eat at home, but in the long run it could save you a lot of money depending upon your dining out habits. Some families spend hundreds of dollars weekly; this money can be put to better use for healthier food and other more important things. Another wonderful thing about eating at home is that it draws families closer together. When families eat a meal together it promotes communication and stronger bonds.
Living a frugal life can be challenging, but it can be accomplished with effort and consistency.