Thursday, May 27, 2010

Couple of Frugal Tips

I was always a frugal growing up. I would have been big spender in my late years if I would not have faced something like Mumbai Floods so early in my spending days. It changed my outlook towards money and stuff completely.

Side effects of my experience, I might not be a minimalist but I am not a collector either. I use and possess lot of stuff but I don't buy anything ever that is very good but I might need it after some time. I always postpone such purchases till the point I actually need it. 75% of the things it turns out that I actually never got to need it.

Secondly, as some of my friends here are aware that I am on actually spending freeze for one year. I am restraining myself from buying anything new for more then a year. In retrospection that's what I always do. I always abide by the policy of "Only Replacing the things that I Love". What this means is that generally I am very satisfied with 5 skirts, 2 jeans, 4 pair of shoes and so on. Whenever I go shopping I can easily curb the urge to buy anything new till all my possessions are in good shape. If, however, any of the things are torn off, I feel absolutely comfortable and OK to go ahead and buy them.

This helps in achieving two goals, one not possession loads of stuff and second never having materialistic possessions of more then 3L. Side effect, this tuning of money attitude saves me load of money.

Give it a try on your own. Start with any one thing, and decide how many of them are just good enough for you. Once you have that number train your mind to not buy them new till they are in good shape and replace it soon once it is torn off. Once mastered, it will help you save a lot by curbing the urge to buy the unnecessary things.

No comments:

Post a Comment