If I had a million bucks, I know what I’d do. I’d buy myself a mansion in Beverly HIlls and throw in a Bugatti Veyron. But the thing is, I don’t have a million bucks- and I still have a huge loan with this credit union Massachusetts to pay off- so that big house and luxury car will have to wait.
We all have dreams of living it big, but if we want those dreams to materialize, we must do something today. Frugality is the name of the game, if we want to get anywhere close to the big bucks. But how exactly do we live a frugal life? Here are some of the things we can do to cut back on spending:
Don’t shop on impulse. Some of us feel the aching urge to hit the malls when we feel emotionally rundown. But shopping with this mindset often propels us to make hasty decisions when buying things. Even when shopping online, we shouldn’t fall hook, line and sinker for the first “bargain” we stumble upon. You should buy only the things you really need, when you need it.
Go second hand. Let’s say you want to dig into photography as a hobby. Instead of buying a brand new DLSR, try asking around for second hand cameras which are still of good quality. Your friends or family may help point you in the right direction.
Bring your food to the office. Most of our expenses go to those lunches out and designer lattes. You’ll be able to save more if you brown bagged your own lunch to work.
Shop for versatile pieces. Sure, you’re a self-professed fashionista, but that doesn’t mean that you have to spend a fortune on your clothes almost every week. Try to buy some basic pieces such as jeans, a white t-shirt and all-around shoes, and mix them up and match them with old stuff from your closet. If you must splurge on designer clothes, do it only occasionally. Or then again, you can borrow these from friends.
Living a frugal life is easy. All it takes is discipline, and before you know it, you’ll be swimming in a sea of wealth.