Frugal profile: meet Becca
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Starting today, I’m going to bring you regular “frugal profiles”—basically a chance to meet a frugal person and find out what makes them frugal. You can expect to find tips and tricks as well as generally interesting information. If you have any particular questions you’d like me to ask, or areas you’d like to know more about, send me an email.
This week, I interviewed Becca. She’s a smart saver who lives in my area, and she’s got some good advice. Hope you enjoy it!
Who are you? What should we know about you?
I’m a working mother of 3 kids, also a 3rd year Marketing Student with a husband who was injured on active duty and now receives VA benefits.
What does “frugal” mean to you?
I was raised in a very poor household growing up, so to me, frugal means being able to enjoy life, do things, have things, all way cheaper than most people can do it. FINDING ways to be able to do those things without going broke.
Why do you consider yourself frugal?
I am frugal because I refuse to spend a lot of money to have the finer things in life. I will find other ways to get those things and still fulfill my financial goals.
When did you become frugal (was there a specific event)?
Probably just once adulthood sank in and I realized that just being out on my own with a job did not give me license to blow my whole paycheck on silly things. If I ever wanted to have anything, I’d have to work for it.
How organized is your frugality? Do you plan a lot?
No. I’m not really a planner or list maker, I go with the flow. I just keep my eyes wide open and you would be surprised what you can see when you do so.
Tell us about a deal you’ve found that you’re especially proud of.
There is always freecycle and the things I’ve received from there, a nearly new set of bunkbeds, a travel trailer, new fridge, nearly new washing machine. You can’t beat free!
How do you entertain yourself inexpensively?
We watch and wait for those discounts. The $10 entrance weekend at Roaring Springs [the local water park], things that are free like the air show, etc.
Do you have any suggestions on how to save money on groceries, while still eating well?
I discovered in a moment of poverty (paycheck gone long before payday hit), while scouring the cupboards for things to fix for dinner, that we actually ate MUCH better when we were poor. It was an incentive to use up what we already had, cook from scratch because we were out of boxed stuff, and all in all, we ate better and healthier when we were broke!
Also, I have a great memory, so I tend to remember which stores have the best deals on food and then rather than make a special trip, I stock up on that item when I am there. A tip that everyone should already know is to buy meat in bulk if you have the freezer space. You can buy a quarter or side of beef for $.80-1.50 a pound and that includes steaks, roasts, hamburger etc. Put that up beside those $8.99/pound steaks and you don’t have to think long to see the savings.
As always, one major trip to the store every 2 weeks saves a lot more money than 3 or 4 smaller trips. I can feed us for 2 weeks on $120-150 (family of 5), or I can make 4 trips to the store to get something for dinner, spend $50 each trip and still not have enough for the week.
What’s the hardest thing you’ve learned to do while living frugally?
Resist impulse. It is FAR to easy to see something in the flyers in the Sunday paper, or while you are browsing in a store and think that you have the money in the bank to go get it, but then once you have purchased it, instead of feeling fulfilled, you feel let down. The key is to wait it out and if you still want it a week later, THEN go buy it. Most of the time it will wear off after a day or two.
Do you think most people will have problems in this area?
Yep, I think it is human nature.
What do you think is the most important area for those new to frugal living to start cutting costs? Where do you think they’ll see savings the quickest?
Groceries. Eating out. Hunger is a mighty force and it causes us to do things that aren’t terribly smart. When you get really hungry, it is easier to go out for something or go to the store to get something than it is to thaw something out and take the time to prepare a meal. Make a budget and allow for that eating out a few times during the month, but plan it and look forward to it. The rest of the time, suck it up and cook a meal.
What single piece of advice would you give the readers that would impact their finances the most?
Make a budget. If you sit down and look at what you have spent after a month, you will be shocked at where it goes. Use a program like Quicken or MSN Money to track where your money goes. Then, once you find the leak, plug it up and put that money to work for you. If you don’t have a computer, put it in a notebook, but log EVERY expense, right down to the .99 cent soda at the gas station. When it dawns on you that spending $5 a day for lunch amounts to $100+ per month, and you think of how that could better be used, McDonalds suddenly sounds less appealing.
Anything else you’d like to add?
As with anything, it doesn’t happen overnight. Adjustment takes time and you have to keep working at it. Take the things you love most and find a way to get them cheaper/free. I love Starbucks, so I found a website that gives me Starbucks cards in return for writing reviews. I get to live the “high life� at little or no cost. It puts me a step up, with the rest of the executives, when normally I couldn’t afford it.