Tuesday, January 18, 2011

Unabashed Frugality, A Guide To Pinching Pennies Without Shame

Many resolutions for the new year involve an asceticism of sorts, a pledge to avoid bad habits like smoking or drinking, or to cut back on eating unhealthy foods.  This year, many may have pledged to adhere to a stricter household budget, as the country takes baby steps toward emerging from one of the worst economies the US has seen in many years. 

Paradoxically, the stricter the resolution, the more unlikely you are to keep it.  Think about it, if your goals are unrealistic, you will get easily frustrated, give up, and go back to your old ways.
That is why I’ve put together a guide—a cheapness manual if you will—for saving money without sacrificing your sanity.
  • Buying in Bulk – Sometimes warehouse stores can be our worst enemy; we go in expecting to save money, and walk out with five pounds of peanut butter.  Another way to utilize this method without spending money on membership fees, is to simply buy multiples of your favorite product when it goes on sale at a local store. 
  • Freeze Food – This works for buying in bulk, but also for things like spaghetti sauce.  If you can’t eat it right away, freeze it.
  • Use E-Bay – In the early days of E-Bay, it was easy to get scammed by a dishonest seller and harder to know if what you were buying was authentic or if it would arrive in the condition stated in the auction.  E-Bay’s feedback policies have improved dramatically, and buyers are able to clearly view feedback ratings for sellers.  Clothing, electronics, and many other household items are available from E-Bay for a fraction of the cost for the savvy buyer.
  • Garage Sales – Part of the fun of going to garage sales is the thrill of the hunt, knowing you got something for a fraction of what it’s worth. Even if you’re not a bargain hunter, there are deals to be had on expensive items like kid’s sports equipment (trampolines or basketball nets) or exercise equipment.
  • Coupons – Sometimes coupons can be tricky, if you have to buy more of something that you don’t need to get the discount.  Combining coupons with sales are the best way to maximize your savings for items you would ordinarily purchase. 
  • Online Sample Sales – Sites like Gilt Group and One Kings Lane allow members to log on to purchase designer clothing and home accessories for a much lower cost than in the stores.  The trick with these sites is to look ahead for the sales you are interested in, then log on right when they start for the best selection.  Items sell out fast, so this is critical.
  • Cheap Gas Stations – Gasbuddy.com can help guide you to the cheapest gas station in your area so you don’t have to waste gas searching for one.
  • Recycle and Reuse – Keep take-out containers, wash and reuse them for leftovers or lunches rather than tossing them in the trash.  Paper towels are expensive; reuse and disinfect a cloth to clean your counter with.  

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