Personal Development Information from the Field of Master Mind Articles (MMA)
Shared from the desk of: Joseph Mercado
Article Author: Richard Glennon
To: Entrepreneur
Blog Post #688
Re: How To Be Frugal
Date and Time: Tuesday, May 21, 2019 at 2:53 p.m.
Dear Entrepreneur,
Have you ever wondered how people save money and are able to have the things they want?
It’s because they know how to cut down on the costs of living and are not wasteful. In today’s society, it’s easy to take advantage of all the luxuries and resources we have at hands reach. Many of us have been taught as children to be conservative or with the mindset to save money. It’s not something we are taught in schools.
Being frugal has nothing to do with being cheap. It’s actually a brilliant way to save money, especially when you’re an entrepreneur or a hard-working parent trying to keep your head above water. The benefit is that you can use this saved money towards other expenses or goals you want to achieve in your life. Here are 5 simple practices you can incorporate in your daily routine.
Shut Off the Water While Brushing Your Teeth, Shaving, or Hand Washing Dishes:
Let’s look back to your childhood for a moment. How many times did you remember to shut the water off while brushing your teeth? Do you still forgot today or are you mindful of the water supply and how much is being wasted when you leave it running? The simplest thing such as turning the water off can save you between $20.00 and $40.00 per month depending on how much you use. Add that up per month and at the end of the year you have saved a minimum of $240.00. Saving this amount money isn’t going to make you rich, but it’s one way to save and apply it towards your entrepreneurial path or your investment goals.
Eating Healthy At Home Instead of Dining Out:
Have you ever been told it costs too much money to eat healthy? If so, think again. Eating healthy is quite inexpensive. You have to know how to shop, where to buy your goods, and what to cook for a tasty nutritious meal.
Local farms are always the best for fresh foods; however, when you go out to eat, it will cost a minimum of $20.00 to $50.00 per person, depending on where you eat. This doesn’t include having a family with children. Most Americans will spend on average $300.00 per month including prepared subs, fast food, or chain breakfast stores.
That’s $2,400.00 per year for high sodium, high fat, unhealthy caloric food and drink. Let’s say you prepare one meal or cut out some fast food (a savings of $50.00 per month). That equates to $600.00 savings for the year!
That’s money you can allocate towards credit card bills or that much needed vacation. Look at it this way, when you prep your own meals at home; you know exactly what you’re eating.
When you dine out, you have no idea what’s going into your food or where it’s coming from. It may taste good, but the region where the food comes from and its preparation have a lot to do with your health.
Here is a simple example: purchase a Rotisserie chicken for $8.00, after your first meal, leave enough to make 2 more meals. You can chop it up for a salad or mix with organic Quinoa/rice or pasta all of which are quite affordable. This is just one example of how eating at home can save you money and get both you and your family healthier.
Leaving the Lights/TV on instead of Turning Them Off When Not Being Used:
Let’s face it, there are plenty of times when we forget to turn off the lights, thinking we’ll return to that room momentarily. Only to get distracted for hours while the TV or lights are still on without being utilized. Shutting off electricity when not in use can save you quite a bit of money every month.
This is also true if you run appliances for long periods of time (non-economical). For example, learn how efficient your dryer is. In other words, run it for 30 minutes then more if necessary instead of 40 minutes.
That extra ten minutes of savings will add up throughout the year and help your dryer last longer. You can save between $40.00 and $80.00 per month by shutting off ceiling fans/lights and other unused electrical devices.
Or even unplug some of the appliances you don’t use on a consistent basis. In this case, you would save a minimum of $480.00 for the year.
I’m sure you can use the $480.00 towards something you want. Why give it to the electric company… it’s your money.
As you can see, there are several methods on cutting down the cost of living in your home. It’s taking the time to acknowledge the above mentioned areas and being wise with your resources.
The importance is not only being frugal and saving money, but to be able to make the investment within yourself so that you can have the opportunity to leverage your life and manifest your dreams.
To Your Life of Success,
Richard Glennon
Author & Life Coach
UpGrade4Life
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