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How to be more frugal (without seeming like a cheapskate)

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https://www.vox.com/the-highlight/2019/8/2/20747759/how-to-save-money-cheapskate-frugal

vox.com

How to be more frugal (without seeming like a cheapskate)
I'll be the first to admit that I live frugally. I like vacations and fashion, and one day plan to own a home, but I'm a millennial living in an expensive city, so most days, these goals feel like distant mirages in the desert.

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Being Frugal Is Not Cheap

Frugal people do spend money, but want the maximum bang for the buck, without stressing themselves.

Frugality does not mean compromising quality, neglecting your social life, or being a...

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Be A Smart Spender

  • Use tools like financial books, podcasts, and online savings groups.
  • Avoid indulging in unnecessary expenses daily, reducing them or finding healthier and more affordable alternative...

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Use Smart Hacks

There are plenty of financial and budgeting tools and apps that can help us manage our funds, keep track of our expenses, and trigger us when we are off-track.

Simple hacks like carrying ...

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Balancing Everything

Balancing Everything
  • Smart spending is about balance and adopting a disciplined mindset, and ultimately is about increasing awareness about our spending.
  • Being honest with our loved ones about our financia...

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Over time, I've learned that embracing a thriftier lifestyle and learning more about financial literacy benefits not just me but my greater community. In simpler living, I've been able to reduce cl...

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Over time, I've learned that embracing a thriftier lifestyle and learning more about financial literacy benefits not just me but my greater community. In simpler living, I've been able to reduce cl...

66 SAVES


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Characteristics Of The Wealthy

  • They live in homes just large enough for their needs and drive used cars.
  • They have affordable interests.
  • They don’t worry about having the highest credit scor...

Rich And Wealthy

By making wealth your priority now, you could be both later. Establish a strong financial foundation that will give you financial security and peace of mind moving forward. 

Living paycheck to paycheck is a guaranteed way not to build wealth.

If you’re just starting on your personal finance journey, it might not be time for you to start acquiring these assets yet.

How To Become Wealthy

  • Investing in stocks is simple if you avoid lucky stock picking. Keeping long-term perspective, invest early, especially in low-cost index funds.
  • Rental properties.
  • Small business ownership.
  • Delaying gratifications.

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Making Your Budget Too Strict

Budget for the life you have. When you’re going through your budget and assigning spending categories, be realistic. 

Don’t tell yourself you’ll never buy a single discretionary i...

Budgeting for a Life You Can’t Afford

This becomes a problem when you’re spending for a life you can’t afford. It puts pressure on your budget and encourages you to live in a paycheck to paycheck cycle.

Assess your financial situation, cut back on your expenses, prioritize your money goals, and then come up with a new spending plan.

Budgeting Without a Purpose

It’s hard to stick to a budget that doesn’t have a goal.

When there isn’t one, your budget becomes an afterthought rather than a spending plan to reach your financial goals.

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Practicing financial avoidance

Whether it is about your money or a person you are not fond of, avoidance is the key to a life without unpleasant events. 

Every now and then individuals feel the need to avoid checking ...

Keep track of your spending patterns

According to experts in the field, when dealing with anxiety related to checking your bank account, the best solution to manage your anxiety is by checking your bank account. 

While it might hurt you, this remains the only means to help yourself get in control and start managing your money.

Make a new habit

While planning on how to better keep track of your bank account, you might want to consider methods like starting to check your account once a month. 

In order to do that, it could be useful to schedule a meeting in your calendar, devoted solely to this. Other ideas might include using spreadsheets to keep track of expenses or getting an automatic tracker.

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