Many people mistake frugal living with being cheap or depriving yourself of things you enjoy. But that couldn’t be farther from the truth. To me frugality is all about setting priorities and making smart choices.
For example, I love coffee. If I don’t get my morning cup of java I just don’t feel right. But I’m not about to drop $4 every morning for a triple mocha latte cappuccino or whatever they heck they’re called. Instead I use my Keurig to brew a single sized portion that’s perfect for the ride to work. It costs me a fraction of what I’d spend at Starbucks or Dunkin Donuts. I’m able to keep something I enjoy without breaking the bank to do so.
Let’s talk about another example of what I mean.
Not long ago our 6 year old carpet steam cleaner died. It had served us faithfully for its whole life, but it had finally had enough.
Our family consists of me, my wife, three kids (ages 6, 5, and 1), a cat and a dog. Did I mention we have light beige carpets? We NEED a carpet cleaner.
So as soon as our old one died I knew I’d better start shopping around for a new one. I found a decent model (the Bissell 14257 Homecare Little Green Proheat Floor Care) selling for around $100. It’s smaller than our old one but I like that I can easily use this one on the stairs.
The next question was where should I buy it? There are plenty of stores around me that carry it so finding one in stock was easy. But where could I get the best price?
Then I checked the mailbox and noticed a Bed, Bath and Beyond coupon for 20% off any one item. That made the cost $80 instead of $100.
But I did even better than that. I was able to trade in $20 worth of my Shop Discover Rewards for a $25 gift card to Bed, Bath and Beyond. That made my out of pocket cost only $55 before taxes.
So in the end I got what I needed without a lot of stress, and I got it for only a bit over half price. That’s what I call frugal living.
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{ 11 comments… read them below or add one }
My husband and I spend quite a bit on “fun stuff” every month (about 10% of our take home pay) yet we also save 35-45% every month for retirement and live on the rest. I think it’s all about balance. Pay your bills, save for your future, and don’t miss out on the fun stuff along the way.
Frugality is all about balance to me, lol.
You’re so right about balance. You can’t deprive yourself, but you can’t overindulge either.
I may have a bad connotation with the word frugal, but why aren’t the moves you made just smart. Why are they frugal?
Evan´s last [type] ..Basic Financial Terms for Children and Teens
I would say they’re frugal because they saved me money. I don’t think you have to live like a monk to be frugal.
You’re soooo right about balance. I read a couple of other debt/personal finance blogs and some people are way too extreme about their frugality. Almost like anorexia, but with finances instead of food.
I like that analogy and I know exactly what you mean! That gives me an idea for another post…haha
I don’t know know some people think of being frugal as a major upheaval or coupon clipping their lives away. It’s nothing like that. It’s doing what you did – making smart choices to save money where feasible.
Sandy @ yesiamcheap´s last [type] ..My Tenant’s Rent Is Late…Again
Did you see any used ones on Craigslist/{free,cheap}cycle/local ads? You may even have been abe to get one for less (& saved the sales tax as well).
Hi! This is such a great article and I am sure a lot of money saving enthusiasts are going to benefit from this. Keep it up! I am Diana Mathew, an Australian Entrepreneur, ebook author (The Money Tree by Diana Mathew) and a Saving Money guru.
Hi Mike, I can’t get past that you have 3 kids under six and time for a blog(s). How do you do it? Of, and of course I’m with you regarding spending choices, it’s all about spending money on the things that are important to you!
Hi Barb, I don’t know how I do it either! I try to carve out chunks of time here and there to work on the blog and other projects, but in the end the family always comes first.
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