If you can foster the following qualities in yourself, then you will wind up with more savings and a better budget. Here are some things that every frugal living person should have.
The old saying may be that “time is money,” but we can turn this around to mean that being patient with time is more money. How? Well anytime that you can be patient with a purchase you will generally save money, whether it is waiting a year for the price of that new gadget to go down, shopping around for a new mortgage or saving up for a purchase rather than using credit.
Here are two small examples: a new hardcover book from the bookstore costs $25. Wait a few months. A barely used one, purchased by someone for $25, read, and discarded, costs $1 or less at the library, used bookstore, thrift store or yard sale. And that iPhone everyone had to have at $399 when it first came out is now only $99.
Being creative can go a long way to saving you money. There are so many ways to apply your creativity. You can repurpose items instead of buying new ones. You can do your own projects instead of hiring someone. You can create wonderful meals out of inexpensive ingredients. You can figure out a solution to a need that doesn’t involve spending or purchasing something. A good friend of mine has furnished her entire house out of items that she has found for free and then turned into something else. A old bed headboard has become a mantle for an outdoor fireplace, large spring water bottles have become lamps and an old porch swing was given new life as a couch.
What are some of the other qualities you think a frugal person should have?
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