People usually see frugality as a negative. That is because when we think of frugality, spending countless hours clipping coupons or some other mind numbing task is what comes to mind.   Not true.  Frugality is all about being economical, maximizing your dollars and finding less expensive ways to have the things you want without being wasteful and avoiding extravagance.

You don’t have to become a cheapskate. Not the same as being frugal.  Eating canned soup for dinner every night because you get them for less than two dollars is just cheap and unhealthy, not frugal.

I like to think of myself as frugal, but if I had to give up things that I enjoyed or cared about, I could not be.

I don’t clip coupons, use homemade cleaning products or cut open the tube to get to the last bit of toothpaste. There is money to be saved that way.  I prefer one-time actions that will continue to save time and time again. I replaced my regular light bulbs with more cost efficient LEDs.  I just lowered my utility bill.  The best frugal actions don’t add extra work.

First blog I ever wrote grew from a note to my kids about how easily we could save $25 a week. I used the morning cup of “coffee” their uncle buys as an example and suggested he make his at home.  Easy math when one cup equals $5.

Thing is he looks forward to that cup, needs it to get going and is not willing to give it up.  I used that cup of coffee as an example.  In reality if it is that important to you, keep it.

Eat a home cooked meal tonight and make enough to brown bag your lunch tomorrow.  Save on take-out tonight and tomorrow’s lunch. This action should save another $25.

Two simple actions, that if done only once a week, can save close to $1,500 a year. That is a decent individual retirement account (IRA).  After 30 years your IRA should be worth more than $163,000.  Not a bad return on a $45,000 investment spread out over 30 years.  What We Can All Learn From The Financial Independence Movement

Two easy frugal changes to get started saving or increasing your nest egg regardless of you plans.

I am not a financial advisor. I hold no fancy degree and as such this is not financial advice.  This is simply what I have done and recommend my children do when the time comes.

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