Some actions you can take to make frugal decisions and start socking away some extra cash without feeling like a miser.
1. Buy generic.
If you look carefully at those nondescript packages and cans at the bottom of the supermarket shelf, you'll see the savings they offer. These generic goods are often made by the same companies that make your favorite foods; they just don't have the same fancy labels. Generic is almost always cheaper, and while they may not be the most aesthetically-pleasing products, it's not as if you're going to eat the can.
2. Keep your freezer full.
This may sound counterintuitive, but it works. A stuffed freezer means your appliance doesn't have to work as hard to keep the space cool. Think of it this way: It's much more expensive to heat up a large, empty loft than it is a full apartment. The same applies to your freezer, just inverted.
3. Buy second generation.
Undoubtedly, there is something attractive about being first to market and always having the coolest, newest device. However, consider holding off on this impulse - even if only for a few weeks. As with many new devices, those who are quick to buy are also often quick to regret - why not wait? Even the hottest of items can end up on eBay within a few weeks of coming out, where the frugal shopper can find them at significant discounts to the retail price.
4. Buy at the right time.
We all know that the worst time to buy a plane ticket is the day before an important holiday. We also seem to know that if we plan and buy the ticket a few weeks ahead of time, the price tends to be a little bit cheaper. There is nothing wrong with buying Christmas decorations on December 26 - plus, we all know why it is cheaper to do this on December 26 - it just makes sense.
5. Soak your clothes.
Clothes won't last forever, but you can help them last longer. To protect your clothes from fading, moisten them in a vinegar-water mixture before washing them. They'll last longer, which means fewer expensive trips to the store. The less shopping needs to be done, the better.
6. Host events.
This is the oldest trick in the book, and one that really works. Tidy up your place and invite your friends over for a poker tournament or a poolside cookout. Let your friends bring their own beer. Entertaining guests at home is something of a forgotten art. People seem to just like being out. However, when you are out and about, you will likely spend a lot more money at restaurants and at the bar.
7. Fill up at night.
Without getting too deep into your high school chemistry class, remember that gas changes its properties based on temperature. If you fill your car up at night, when it's cooler, you'll get a more densely packed concentration of fuel. You won't save a bundle, but every little bit helps.
8. Obey the limit.
It's a fact that most cars are most efficient at or near 55 miles per hour. On the one hand, you should obey the law because it's for your own safety and because you don't want a ticket. It's also nice to know that you'll get an added benefit in savings.
9. Never top off.
If you've been topping off your gas tank, all you've been doing is running the meter. True, a little bit of gas will trickle out, but it's deceiving as it's not anywhere as much as you would get under full pressure. In other words, you're paying full price for hardly any fuel. Furthermore, your car just doesn't need it. When she's full, she's full. Topping off only raises the price, so don't do it.
10. Subscribe to magazines.
This suggestion is a little trite, but let's face it, people buy magazines at the newsstand or in the grocery store checkout line. So, rather than dropping the $6.99 every week at the grocery store for the latest issue, the frugal consumer should consider subscribing to the magazine and receiving in your mailbox. Subscription rates can often be 50-90 percent less than the newsstand price, and magazine retailers can offer further savings and incentives.
11. Save on shipping.
You can get a lot of deals online if you shop around, but sometimes your savings get eaten away by the shipping charges. For example, Amazon, offers two options to help you get around this. First, if you order something that is more than $25, you'll qualify for free shipping. Second, if you order multiple items that each cost less than $25, Amazon will allow you to ship them together, so you'll only pay one reduced shipping rate.
12. Use coupons.
No one wants to clip coupons all day, but you don't have to do that anymore. A lot of stores offer instant coupons that you can take from a machine located near the product you're buying. With the right coupon, you can save as much as 50 percent on a two for one offer. The same tip applies when purchasing something online - do a quick search for "(item name) + coupon," and you might find a rebate at your fingertips.
13. Be frugal with your phone.
How much cash do you rack up for your cellular provider or long-distance phone bill? Especially with wireless phones, the ease and invisibility of text messages and downloading ring tones make it easy to build up your balance due. For one month, consider not downloading the new songs as ring tones. Or, rather than sending endless text messages to your friends, try leaving voice mail. When a friend sends you a text, call back or send an email from your computer - rather than responding with a text.
14. Know your billing period.
Here's a way for a credit card to save you money. When you make a purchase with one of your credit cards, use one that just passed its closing date. This way the clock won't start to run right away, giving you a little more time to pay, giving you a better chance of avoiding interest and late fees.
15. Pay online.
This one is simple. You could spend a few hours each month going through your bills, writing checks and licking stamps. Or, you could pay online. It's fast, it's easy, and the cost of stamps does add up.
16. Enroll in loyalty programs.
These days almost every place has a rewards system, from the grocery store to the video outlet. If it's free to join and there are no hidden costs down the road, there's no good reason to not enroll. Particularly when it comes to loyalty programs attached to credit cards (like those that give you airline miles), there's nothing to think about after you set it up, except for the fact that you're gradually getting closer to a vacation.
And remember, if you save a few dollars now, you'll be in a better position to live the lifestyle you want to live - both today and in the future.
