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7 Simple Strategies for a Frugal, Prosperous Life

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USA, New Jersey, Jersey City, Girl looking at savings in jar
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By Stefanie O'Connell

If you have a limited amount of time and energy to devote to frugal hacking -- and let's face it, nobody is walking around with an excess of either resource -- it's best to use them on the bigger savings strategies. Sure, the little things absolutely add up over time, but clipping coupons requires more effort per dollar saved than snagging a better interest rate on your mortgage, for example.

Rather than driving to grocery stores all over town to cash in on small savings from various clippings or driving to the big-box retailer two towns over just to utilize a $10 off promo, think bigger. Don't let the excitement of scoring a deal or freebie cloud your judgment as to whether the pursuit of those savings are truly worthwhile. After you factor in time, gas and wear and tear on your vehicle, how much are you really saving anyway?

The small frugal hacks of daily spending are a great way to develop a habit of savings and conscious spending. Utilizing coupons and cashing in on deals when the opportunity present itself is a resourceful way to save an extra buck or two, but for the bigger, longer-term savings, consider these "ultra" hacks.


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elaineen

You do not need to join a gym just buy a set of dumbbells and good walking shoes. Exercise regularly. Buy only what you need unless you have extra cash. Pay off your home prior to retirement and buy nothing on an installment plan.

June 30 2014 at 5:01 PM Report abuse +2 rate up rate down Reply
smiles41

Hmmm, those who SHOULD be reading such an article could care less, it is easier to stand in obama's welfare lines OR blame the rich and "greedy" for having done all the things this article denotes to attain their wealth. However, it is interesting that the liberal-socialists blame CEOs while giving a free pass to the greedy, attention demanding professional athletes who demand and amass huge salaries.

June 30 2014 at 7:47 AM Report abuse +2 rate up rate down Reply
standfordgrays

#6 is the only good advice.... #1. Only an idiot gets a home loan, or a car loan. Either live with your parents till you save up enough to pay cash or live in an RV and park at Walmart till you save up enough to pay cash. #2.. How many people actually choose how much their employer withholds ? Stupid advice there. #3. Good luck haggling anywhere besides off craigslist. Most store employees are barely trusted to handle $50 in the cash register, not adjust prices that are already programmed into the database. #4. Buy in bulk, but nonperishables. Save a whole $5 a month and burn up all your storage space. #5 Get healthy... yeah show the chick at a gym where one has to pay for gym memberships. I can see where working out takes the place of paying for entertainment, but only if one is running down the street or something free of charge. If that chick is at home, then she doesn't look like she is worried about money. #6 downsizing.. I am totally a minimalist. Material crap doesn't serve me at all. A comfy bed, clothes, tools, computer, a car and a motorcycle is all I really own as far as possessions go. #7 put off retirement.... This is the stupidest thing anyone could ever say. Putting off retirement because they are deep in debt is what has kept Generation X and Y from getting a decent job. The greedy boomers won't retire at age 55 like the greatest generation did and free up the jobs for their kids and that is why we have 2 generations being totally wasted right now. It also the reason for this huge experience gap between retiring ancients and fresh graduates. Employers are whining all over the country that they cannot find anyone with experience when DUH !!.... Employers should have got rid of the boomers a long time ago and prepared themselves for this day a long time ago. But, nope... 20 years of telling generation X they weren't good enough and keeping grandpa credit cards on staff has now left a giant hole on the ladder to fill. In the end, trying to find the best way to dance around with debt is like sticking your hand in the fire and only hoping to burn the pinky finger. Don't spend your cash before you earn it. You will value it more to get more out of it... Live your parents for 7 years and on your 25th birthday buy a $100,000 home with cash and watch your neighbors spend 20 years paying off theirs. You will spend $103,000 and they will spend $168,000 for the same thing.

June 30 2014 at 3:25 AM Report abuse -2 rate up rate down Reply
2 replies to standfordgrays's comment
Hollow318

I can't live with my parents they are dead. And if I did I would be a boomerang. Of course I told my employer how much taxes to withhold. I bump it up all the time to avoid oweing come tax time. It's an easy fill out a form fix.

June 30 2014 at 3:00 PM Report abuse -1 rate up rate down Reply
lindamermaid

Speak for yourself. I don't want my kids living with me for the rest of their lives while they save up for a house that will be continually out of reach for them. You must be a GenX idiot. Minimalist my foot - minimalists don't have cars AND motorcycles. And you must be sponging off your parents from what you say. Just wait until YOU are the one who's 65 and can't retire because the economy has collapsed and your kids want nothing to do with you because you're a crotchety old fart living under the illusion that you're smarter than everyone else. I hope someone says - to your face - "why don't you just die, old man, and make room for the young people?" You've done it here since you don't have to guts to do it in real life.

July 01 2014 at 5:34 PM Report abuse rate up rate down Reply
mac2jr

Ok crybabies, tell the world what you know.. Who has caused the flood of children from Central America to the U.S.A. border?

June 29 2014 at 11:00 PM Report abuse -3 rate up rate down Reply
mac2jr

Ok crybabies, tell the world what you know..
What is your solution for keeping American Companies in the U.S.A., and from hiring 'illegal' folk?

June 29 2014 at 10:59 PM Report abuse +1 rate up rate down Reply
1 reply to mac2jr's comment
dopey.obamite

Let's start with sealing the borders and everify. Instate a no deduction across the board flat tax of somewhere ~10-13%. Remove the power of the EPA to regulate, and leave this to our elected, as intended.

June 30 2014 at 12:34 AM Report abuse +1 rate up rate down Reply
mac2jr

Ok crybabies, tell the world what you know.. How high does the border fence have to be to 'stop' someone from coming over the fence? Car height, bus height, ladder height, aircraft height, which is it?

June 29 2014 at 10:57 PM Report abuse -2 rate up rate down Reply
1 reply to mac2jr's comment
dopey.obamite

Make it a huge electric fence powered by your coveted SPV.

June 30 2014 at 12:36 AM Report abuse +1 rate up rate down Reply
mac2jr

Ok crybabies, tell the world what you know.. How many miles of U.S.A. border do we have and how many Border Patrol agents do we have on the payroll to 'prevent' entry?

June 29 2014 at 10:56 PM Report abuse -2 rate up rate down Reply
1 reply to mac2jr's comment
dopey.obamite

Too many of the ones we have now are baabysitting and changing diapers. Obama starting trying to negotiate transportation for these illegals months ago.

June 30 2014 at 12:37 AM Report abuse +1 rate up rate down Reply
mac2jr

ok crybabies, who are the 'Illegals' you seek to deport, and how will you find each, and how will you deport each, and how will you pay for the deportation, and how will you then replace all the closed businesses that are owned by many of these 'illegals'?

Name one 'illegal' that you personally know...

June 29 2014 at 10:54 PM Report abuse -2 rate up rate down Reply
koos458

in other words, learn how to be happy with less. This is the condescending bs we get as a poor excuse for having to live in a kleptocracy.

June 29 2014 at 10:39 PM Report abuse rate up rate down Reply
omerrica.inda.crapper

get guns with insecticide n exterminate then deport all illegal immigrants with their Ebola n mersa, that ovomit let 'BREAK" into America.

June 29 2014 at 10:06 PM Report abuse -2 rate up rate down Reply