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Have you ever wondered why some people are just so damn frugal? Like asking them to spend a penny on something will break their bank? Why they refuse to pay a certain price for something but yet will splurge on something else? I’ve put together a list of 7 frugal habits I practice every single day that have saved me a lot of money. Hopefully I answer some of your questions you’ve always wondered about people who are frugal.
- They don’t impulse shop
Frugal people will ALWAYS do their research before buying. They research everything from price comparisons to quality and reviews. They aren’t going to spend $500 on something if it isn’t going to last as long as it should.
- They live within their means
Frugal people live within their means. They don’t buy things they cant afford just to impress others or to keep up with the times. If you haven’t read The Total Money Makeover by Dave Ramsey, I highly recommend it. He so very accurately explains the idea of living within your means and buying things you can’t afford just to impress others. This book 100% changed the way I thought about money.
- They plan ahead
Anything involving money gets planned out, well in advance. Grocery shopping, major purchases, etc. Planning ahead usually leads to more money saved and less money spent.
- They aren’t afraid to say no
If it doesn’t fit into their budget or financial goals, they aren’t afraid to say no. They don’t go to every single thing they are invited to if it isn’t important to them. They aren’t scared to say no and walk away if the price isn’t what they want. They’ve taken the emotions out of their money and think of it as a source of survival, not a source of happiness.
- They have goals
Frugal people aren’t frugal just for the fun of it. They have goals set and are always working toward their financial goals. They work hard toward their goals and always know exactly where they stand up against their goals.
- They know the importance of maintenance.
Keeping anything and everything in good working order leads to less repairs and less money thrown down the drain. Proper maintenance will usually prolong the life of something, whether it be a car or a kitchen sink.
- They double check receipts.
I always check my receipts right after I leave the check out line. Yes, I did just watch the cashier ring everything up, but what happens if you get charged for something you didn’t buy or the items on sale rang up at regular price? I go to the customer service counter all the time to get my extra .10 back. My husband used to get so embarrassed when I did this, but he now sees that all the small amounts really do add up.
There you have it. 7 of the most effective habits of frugal people.