Archive for Frugality

How to Achieve Financial Independence

Freedom to Live the Life You Dream Of

What is financial independence? The answer to this question is complex and depends upon who you are asking.

In general, financial independence means that you are able to live the life that you dream of without having to worry about finances. There are a few steps that you can take in order to move toward the state of financial independence. We will discuss them in detail below.

woman standing with her arms stretched out looking at the sky


You should take up a few investments in order to move toward realizing financial independence. There are many different ways to invest. You may invest in the stock market, an IRA, or a savings account.

Stock market investments are some of the most lucrative investments you can make. When you invest in the stock market, you are able to see financial gains throughout the entire amount of time you invest.

You should do thorough research before you invest in the stock market. This will help you to determine which stocks you want to invest your monies in.

The stock market can help you to gain finances fairly quickly as long as you know which stocks are going up. You should invest in stocks that are on the rise.

You can find information about stock trends by doing a simple Google search on that particular stock. This will pull up results like

An IRA is another worthwhile form of investment. You may find that you slowly save up significant amounts of money by investing in an IRA.

An IRA is essentially a retirement account that accrues value because of its interest rate. You should keep your monies in an IRA account so that you have money to work with when you retire.

Interest-accruing savings accounts are based on much the same principle as is an IRA. These types of accounts gain interest as the monies sit in the accounts.

You literally gain profits by doing nothing besides letting your monies sit in the bank. Should you let these monies sit for an extended period of time, you will be pleasantly surprised at how much money you can earn.

man holding spread out 20 dollar bills in his hand

Make a Budget

Another way to gain financial independence is to draft up a budget. This will help you to stay more aware of where your monies are going. You should have a budget for groceries, housing, transportation, and miscellaneous. You should draft this budget up carefully.

There is much thought that can be put into drafting up a budget. You may find that it is necessary to calculate your budget to the exact dollar or cent. You can find out the best quality items for the best price and include them in your budget.

You should not go over your budget every month. By staying financially organized in this way, you are sure to see monetary gains in the bank account.


Part of your budget every month should be more for recreational indulgences. Being financially free means that every once in a while you allow yourself to enjoy something expensive just for the sake of enjoyment.

There are a number of different ways that you can indulge.

You may take yourself or your friends out for a fine dining experience. This can mean that you enjoy the finest of delicacies regardless of cost.

You may also choose to purchase a luxury grocery item that is outside of your standard budget. Examples of this include aged cheese or decadent ice cream brands.

Just like anyone else, you need to treat yourself to something special every once in a while, regardless of the cost.

Financial Freedom is Possible

It is easy to see that financial freedom is possible. It just requires diligence and best practices.

You may find it necessary to invest in investment accounts in order to maximize your earnings. It is recommended to begin investing in the stock market, as well as in IRAs and savings accounts.

You should develop a careful budget for all of your essential purchases, so as to increase the amount of money that stays in the bank account. You should indulge in something special every once in a while in order to remember that money is a means to enjoy life.

Should you practice these habits, you are sure to gain financial freedom.

10 Frugal Living Tips To Save Money every day

Save money

In this post, I have shared 10 frugal living tips to help you save more money. There are many reasons why someone might decide to live their life frugally.

Save money

Early retirement, buy an expensive car, invest in a business, pay off debt, etc are some of the common reasons driving people to adopt a minimalist lifestyle.

Here are 10 frugal living tips to save money every day.

1) Use Ebates


Through Ebates you can shop at the nearest supermarket and get up to a 40 percent discount. It’s shocking how much cash you can save by being a little more informed about such deals. The supermarkets pay a commission to Ebates and Ebates gives you a discount.

2) Use Swagbucks

Always look for free gift cards and cashback offers. This is one of the best frugal living tips I can give you. Swagbucks gives you points for watching videos, surfing the web and filling out simple survey forms. You can use these points for shopping from your favorite online stores.

3) Use Coupons


With coupons, you can save more than $100 a month. They provide printable and digital coupons for almost all grocery items. You can save $0.5 to $5 on each product you buy using coupons.

4) Don’t eat out

Eating out may save time and effort but it is way too expensive for someone trying to save money. Calculate all the money you spend last month in restaurants and you will know what I am talking about. It’s best to prepare food at home and keep it in the some in the freezer for later consumption.

5) Brew coffee and tea at home.


You know you are serious about following these frugal living tips when you don’t mind making coffee at home. Cafes like Starbucks and Caribou sell expensive coffee to make up for the salary of their employees and rent of the space. It takes less than 10 minutes to prepare coffee or tea at home.

6) Generate side income

You can generate some side income by selling your old tech!? Check out?, the US?s largest price comparison site for selling your old mobile phone, tablets & tech. They compare all of the BuyBack sites so you don?t have to ? and their Best Price Guarantee ensures that you will receive the maximum amount when?selling your old phone.

7) Avoid debt

A stat by nbcnews confirms that one in five adult Americans are still carrying student loan debt.  It’s not a great idea to get buried in debt in your early 20’s. But if you are in debt, do everything possible to pay it off.

8) Eat leftovers

Food, when prepared in bulk, can be preserved in a freezer. Leftovers can be cooked again and eaten without any problem. Make sure to heat it in a microwave before consuming it.

9) Wash your own car

Wash car

Washing your car can a messy task. You can wash your car in a garage or empty space in front of your house. Get some good a cleaning kit and get to work. Buy an air compressor if you are looking for long term savings.

10) Buy clothes at the end of the season.

The final frugal living tip is to wait till the end of the season to buy clothes. Major clothing brands are desperate to sell off their old collection in December. This is the right time to buy some high-quality clothes for a quarter of their price. 


Along with buying inexpensive products, it’s also important to get rid of unnecessary things that you already own. There are platforms like Craigslist and eBay where you can sell anything you want. Also, make a quarterly plan in a notebook and keep a list of all your expenses in it. Keeping a log will help you track your spending habits.

4 Depression Era Tricks to Stretch a Small Income

4 Depression Era Tricks to Stretch a Small Income

4 Depression Era Tricks to Stretch a Small IncomeHave you ever gotten to the end of a pay period with next to nothing left of your paycheck? Like many, you might find your salary or income a little wanting. After all, the cost of living and everyday expenses isn?t necessarily cheap.

This could mean you have to stretch your paycheck thin just to accommodate the necessities. Nonetheless, no matter what you earn or the price of your expenses, there are always small adjustments you can make to help stretch your money a little further. Here are four old-time, depression era tricks to stretch a small income.

1. Skip Convenience Items

When life gets busy it?s easy to run to Starbucks or grab takeout. Unfortunately, while the price might seem inexpensive at first, those constant drive thru runs or grande lattes add up a lot quicker than you?d realize.

Instead, opt to do things at home. Plan and cook meals and brew your own coffee. Fresh groceries and supplies will save you more than you?d realize, leaving money for other things.

2. Forgo Cable

We all have our favorite shows and sources of entertainment. Of course, cable and dish subscriptions are anything but cheap.

If you?re trying to stretch your paycheck ridding your bank account of cable subscriptions can be a surefire way to save some of your income.

Sign up for more inexpensive streaming services like DirecTV Now or Sling TV, or opt for other streaming options like an [easyazon_link identifier=”B00ZV9RDKK” locale=”US” nw=”y” tag=”wisedollar-20″ cart=”n” popups=”y”]Amazon Fire TV Stick[/easyazon_link].

You?ll be able to watch your favorites and save.

3. Find Freebies

Just because you want to save doesn?t mean you can?t have any fun in life. That being said, you don?t have to spend a lot, or anything for that matter, to find entertainment around your town.

Search for free events like plays or concerts in the park or find games and sports you can play around your community. You can enjoy spending time with your family and friends without hurting your budget or using up the rest of your paycheck.

4. Budget & Make Cuts

A budget does more than just organize your finances. Even if you think your paycheck is stretched throughout your budget, there are always ways to make small cuts.

Re-evaluate your budget and adjust any categories that are either unnecessary or that you?re simply paying too much for. Moreover, write down extra purchases that might not be in your budget and examine whether or not they?re a necessity as well.

Sometimes, when a raise isn?t an option and you feel as though you?ve stretched your income to it?s limit, it can be difficult to know where to adjust your finances. Even so, you don?t have to make major cuts or sacrifices in order to stretch your paycheck a little extra.

Instead, review your budget and expenses and find small ways to cut back or reallocate your salary. You might be surprised how much impact the little adjustments can have on your monthly income.


Where are some depression era tricks you can use to save money? What are some inexpensive or free activities in your community?


Photo courtesy of: monicore

5 Steps to Change From Spendthrift to Thrifty


spendthriftSpending money can be fun, especially if it?s on something you want. This is how people get into trouble from spending too much.

You can spend too much whether you have a low income or high income. The spendthrifts of the world know no income restraints.

A spendthrift is someone who spends way more than they make. They buy everything or do anything. If you find yourself spending all your money and not using any or all of the items you purchase, you may be a spendthrift.

Don?t fear though, you can become a thrifty person. When we say thrifty, we mean someone who purchases quality items within their budget and sometimes for a good deal.

Here are five steps to take from spending outrageously to spending smartly.

Track Your Spending

List out your bills and receipts versus income. This is the first step to any financial stability.

If you don?t know what you are spending you don?t know where to cut back on. After you have the month?s expenses listed compare that to your income. If you spent more than you made then you have a problem.

Define Your Money Goals

You know you don?t want to continue spending as much as you do, but you don?t want to give up your current life style. Setting a financial goal will help with that.

Where do you want to see yourself long term? Is it taking overseas vacations every year? Is it getting out of debt or is it simply saving for retirement? Creating reachable goals will help you become thrifty.

Create a Budget

Once you have your goals in place you can create your budget. Budgets can be tricky but for the first couple months you can make sure you don?t spend more than you make.

Once this has been achieved, then set up a budget to start saving or putting money aside or paying debt. It?s hard to change habits and even harder to change spending patterns. So, it’s ok to start small!

Get Your Loved Ones on Board

The people you surround yourself with greatly influence your habits. If your friends or family don?t understand or support your decision to only go out once a week or pressure you to continue in your habits, you probably shouldn?t hang around them as often. It?s hard but you?ll feel better when you can afford to do things and they can?t.

Review Your Finances Weekly

This is extremely important as you first start out. Knowing how much money you have spent and how much is in the bank is important. As your habits change and your goals are met, you can move it to once a month. Make your money work for you.

Cutting back on spending is hard, especially when you are used to spending what you want on multiple credit cards and don?t look at your bank statement.

You can change your spending habits, but it won?t be done it a day. There will be times where you relapse and splurge. Every now and then it?s okay, but don?t get back into the habit of it.

Sticking with these five steps will help you become thriftier and honestly a happier person.


Are you a spendthrift? What steps did you take to change from a spendthrift to thrifty?


Photo courtesy of: webandi

3 Ways Frugality Helps Build Wealth

3 Ways Frugality Helps Build Wealth

3 Ways Frugality Helps Build WealthWould you like to be wealthy? That?s a silly question ? of course you would.

No one would turn down wealth if it was offered, as being wealthy opens up many possibilities which simply wouldn?t be available otherwise.

Want to travel, or take more time off of work? Wealth can make those things possible, and more.

Of course, it is not easy to become wealthy. You might think that you need a fancy job or advanced education to become wealthy, but that is not necessarily the case.

In fact, there is one simple thing you can do which will greatly improve your chances to achieve wealth ? live a frugal lifestyle. If you can live frugally from day to day, you just might find yourself in a wealthy position down the line.

Here?are three ways in which frugality can help you build your personal wealth.

Add to Your Savings

Well, this one is obvious. If you live in a frugal manner, you can save more of the money you make each month. Many people ignore the idea of saving any of their money, instead choosing to spend basically everything they earn as soon as it comes in.

If you are willing to make a few sacrifices along the way ? such as eating in rather than dining out all the time ? you may be able to save a considerable amount of money as the years go by. It is hard to imagine that something so simple could be so powerful, but it really is a great way to take your finances to a better place.

The Snowball Effect

Taking a frugal approach to just one area of your finances can quickly snowball into other areas until you are thinking practically about every single dollar you spend.

For instance, if you cut out your cable bill because you can get all of your entertainment through other sources, you may save something like $100 per month. That $100 of savings is not going to make you rich all on its own, but it might encourage you to look for other areas to save.

Pretty soon, you will be applying a careful review to all of your financial decisions, and your bank accounts may look better as a result. The most important think you can do with regard to frugality is simply taking a first step. Work on finding a way to save some money in one specific area of your life and move on from there.

Motivation to Increase Earnings

When you live paycheck to paycheck, it is hard to think about anything else but paying the bills. You probably won?t spend much time trying to increase your earnings, because you will be so focused on getting by with what you have at the moment. However, one of the best things you can do to become wealthy is find a way to make more money month after month.

Now that you are living a frugal lifestyle, you should have more margin for error each month in your budget ? and you should be able to spend some time looking for additional earning opportunities as a result.


Do you live frugally? Is frugality helping you to build wealth? How else are you building wealth?


Photo courtesy of: The Digital Way