By Katherine Hegemann — kittyhegemann@embarqmail.com
Just what does frugal mean anyway? A few synonyms are thrifty, economical, not wasteful, and saving. Today’s economy means that most people and families have to exercise more frugality than they are used to doing. Many folks are interested is living an ecologically sound and sustainable life so they are trying to be more frugal too.
Are you frugal? There are so many sites on the Internet that address this topic that I almost feel it’s redundant to take it up. However, for the next few months, I will take a few areas and try to give you some pointers to help you become more frugal.
We Americans think we have to have to newest, biggest, and brightest of everything. Until this last recession, most of us wouldn’t think of renting or buying used. Not eating out but cooking and eating at home are also part of the new reality. Economic reality has set in. I’m amazed by the number of people saying they are cutting costs and enjoying life more.
I say I’m frugal, but some of my friends call me a cheapskate. I disagree. Just because I wash zip freezer bags and disinfect them for reuse doesn’t mean I’m a cheapskate.
There are many advantages to being frugal. You can save some money, be less dependent on a high-paying job, retire earlier, or take a real vacation. It really is up to you.
Cars
Do you and your family really need more than one car? Think about the cost for a car: payments, insurance, maintenance, gas, and tires. That adds up to a lot of money. If you can sit down and work up a schedule for car use, you might be surprised and find out you don’t need but one car.
Some of you probably are saying, but… But what if it breaks down? But what if one of us needs to take an extended trip? These are legitimate issues; however, there are alternatives. If you take proper care of your car, there should not be a breakdown to worry you. Instead of buying another car, rent one for an extended trip. Maybe car rental is not cheap, but it costs less than an extra car.
You can save a lot of money by owning a small car. The new small hybrids and electric cars cost much less to run. Most of the new cars that are small are much safer than they were just a few years ago. All you have to do is look at the price of gasoline to realize that the continuing cost of running a large vehicle is going to get more and more expensive. Small cars seem to have fewer gadgets, and those gadgets cost more to use and more to repair or replace.
Maybe you should just keep the car you have. Unless maintenance and upkeep cost more than it would for a newer car, just keep the one you have. It might need a little work like a new paint job or rebuilding the brake system, but there are no payments. Additionally some of the newer cars cost more for repairs.
Buying a previously owned, late model vehicle will save you money and sometimes headaches. Cars initially depreciate at a quick rate. A $25,000 car purchased new will depreciate $11,039 in six years (1), but that car, if maintained well, still has a lot of years of reliable use with few repairs.
There is one more consideration for keeping the car you have or buying used. Cars have to be built and then destroyed. That takes a lot of resources along with leaving a large carbon footprint. Think about the amount of resources needed to build a new car. You need metal, plastic, lots of oil, and the list goes on. And what happens to that stuff when the car is destroyed. Some of it can be reclaimed and recycled; however, much of what is left just sits in a junkyard or gets compacted and sits in the weather. If you extend frugality to wise use of resources, it might be wiser to just keep the car you have or buy one that is just a few years old.
Homes
There is a movement in this country to live in smaller houses. But, you need to be realistic. A family of four can’t comfortably live in a one bedroom with one bath apartment or house. But do you need a 2400 square foot home? Do you need both a living room and a family room? Do you need a full bath for every bedroom and one half-bath for visitors? Probably not.
My sister and I shared a bedroom during our childhood, and I believe that helped us become best friends. I wouldn’t trade sharing that bedroom for having my own for anything. Our family had one bathroom. Sometimes that was inconvenient, but it worked out. Of course when we got to be teenagers, things got a little dicey. Thankfully, our parents were willing to bend a little so we could have our ‘getting gorgeous’ time.
If the collapse of the housing market taught us anything, it’s that sometimes it is better not to own your own home. Owning a home is expensive. You have mortgage payments, homeowner’s insurance, maintenance, lawn and garden care, and improvements to the property. The attic leaks and needs a new roof. The stove and refrigerator are getting old and have to be replaced. The driveway is getting potholes. As the owner, you are responsible for this, and the costs keep getting higher every day. Then there is the issue of you getting older. People or couples who are approaching their sixties should consider a couple of things about owning their own home? Can you comfortably and safely live in your present home in a few years? What is the cost benefit if you are on a fixed income? Can you afford the necessary modifications if you or your partner becomes disabled or just less able to attend to activities for daily living? For many people renting or leasing a house or apartment makes more sense. There are fewer and less expensive costs. If you have a responsible, financially sound landlord, you have the benefits of a comfortable home and save money.Food
We know that food is necessary for life. We do, however, have control of how much food and the costs. There are many ways to be frugal when it comes to food.
Eat out less often. There are times when cooking seems to be such a chore. So we go eat out. The trend in the past two decades is to eat out often, but eating out costs more than cooking it yourself. Even if you buy the specials, you can usually prepare it yourself for much less. For example, a spaghetti dinner with a salad costs about $2.50 per person to prepare at home. That same meal at a restaurant costs about $9.00. Additionally, at home you can control how much you eat and the quality of the ingredients (2). By preparing meals at home, you can save money and eat better.
Bring your own. Working people have become used to going out for lunch. The problem is that it gets expensive. Most workplaces have a break room. There are food containers today that keep food hot or cold so you don’t need refrigeration, or you can bring a small cooler. Many break rooms have running water, a microwave, and a refrigerator for employee use. Another alternative is to get people at work to come together for a pot luck lunch. Just have a sign up list for different types of items or weekly menus for people to choose what to bring.
Portion size can save money. This applies whether you’re eating at home or eating out. Combine portion size with a conscious effort to eat more slowly, and you can really save money. For most people, two ounces of meat, one half cup of a vegetable, one half cup of a starch, and a small dinner roll are enough to eat at dinner. Ask yourself if you really need two pieces of fried chicken, two ears of corn, three pieces of cornbread, or a large baked potato. If you ate all that you’d spend a lot more money than going with smaller portions. The reason I mentioned eating more slowly is the brain needs time to tell the body that you’ve eaten enough food. When you eat slowly, the brain and body work together better. You get full and eat less. That’s a better way to save your hard earned dollars.
The types of meals you eat are a way to save. Cooking enough for a couple of meals and freeze the leftovers can be cost efficient. Casseroles, stews and soups are typically less expensive to make, satisfy your hunger, and can be extremely nutritious. Try substituting a stew or soup once or twice a week. It won’t take long for the savings to add up.
Buy family packs. If you have the freezer space, buying family packs can be a great way to be frugal. Pack meats up in pint or quart freezer bags when you get home from the store then toss them in the freezer until you need them. Large sizes of frozen vegetable can be portioned out for each meal. Just close up the original bag and put it in a gallon freezer bag, squeeze the air out, and put it in the freezer. The double packaging fights freezer burn and saves money.
Many of these cost cutting measures for food are relatively easy to implement; however, here’s a hint to make it better. Plan your weekly menu and use that list to compile your grocery list. The planning allows you to be sure you have everything to make each meal and a way to comparison shop at the store to save money.
Being frugal isn’t being a cheapskate. It’s about making wise choices. It’s about deciding how you really want to spend your money. The three topics in this article are some of our largest expenditures. If you can be frugal with those, you can certainly find other ways to save your money.
Endnotes:
© 2011, Katherine B. Hegemann
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