Frugal Living

Posted on by in General, Saving Money & Finances

CANADA, EDWARD VII 1909 ---ONE CENT a

photo credit: woody1778a

It’s 3 days until 2010 and I am getting all reflective and considering what Frugal Living means to me and how I am going to tackle the new year.

For most of us the new year constitutes a new start or at least a chance to build on what we started in the previous year. This coming year will for many be a year of frugal living and simple living from pure necessity, myself included.

For me the biggest thing in 2010 will be properly facing up to my debt and arranging a debt management plan. This is going to leave me in a position unable to obtain credit (without unbelievable interest rates) and once I get through the first few tough months I hope I am able to start putting some cash away to get a decent backup.

For these reasons holding a strong frugal living regime is going to be very important so I need to get things straight in my head and establish some ground rules. I’m lucky on 2 fronts, firstly I like living simple and frugally, life is just so much less stressful that way! Secondly I currently am residing in Egypt and in general things are much cheaper than in my home in the UK and even cheaper than Canada where I was living before.

So what is Frugal Living, according to me?

Dictionary.com defines the word Frugal as an adjective that means:

1. economical in use or expenditure; prudently saving or sparing; not wasteful: a frugal manager.
2. entailing little expense; requiring few resources; meager; scanty: a frugal meal.

For me, the most important part of the frugality definition is ‘not wasteful‘. Through the simple act of not using too many resources every other aspect of being frugal is realised. Now it’s not as easy to do that as it is to think it these days, we are all addicts to a variety of wasteful activities such as overeating, using too much energy by using electronic devices and fuel propelled transport way too much!

So I understand that I can’t become totally at one with this wonderful planet but I do try and find an acceptable balance.

I don’t own a car, I rarely use my cell phone and I almost never watch TV. I tend to eat a bit much at restaurants but hardly drink alcohol anymore and try to be frugal with my cash…. This to me is the general outlay of frugal living.

If I can come out of 2010 having sent less waste to the landfills, spent less cash and feeling healthier from a more functional diet then I will be a happy simple living frugalist.

So that’s me…. Now I want to know from you, what is Frugal Living in your eyes, how do you achieve it and what are your plans for 2010 in this area?

Thanks for reading,

Forest.

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5 Responses to “Frugal Living”

  1. Money Funk

    27. Dec, 2009

    To me, frugal living is taking the ‘convenience’ out of living. ;)

    I saw you link on Frugal Dad – have you considered trying Dave Ramsey’s Total Money Makeover over a Debt Management Plan? My husband and I are working our way out of $86K (not including mortgage) and we are doing it successfully. Clever Dude just climbed out of over $100K!

    Deliver Away Debt has just about as much debt as me… he has taken on a pizza job to get that debt paid down. He has a great article on The Sacrifice of Eliminating Debt. Great, great article!

    I wish you the best on facing your debt. It’s a tough job, but with this wonderful community of personal finance and frugal living bloggers…there is a world of support out there! :)

    3 days? that’s it?
    .-= Money Funk´s last blog ..How I ended up with $10,000 in my bank =-.

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  2. Deodat

    29. Dec, 2009

    Living Frugal is getting rid of meat in my diet, paying off debt and declutting. Meaning getting rid of things that are not essential. I realized that I have bought and have stuff that I either don’t use anymore or barely use. My plan for the new year is to focus and recognize the “need” versus “want”

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  3. Forest

    02. Jan, 2010

    @ Money Funk, Sorry for the delay! I took a few days away from the computer….

    I have heard a lot about Dave Ramsey but have not been really into the finance side of frugality too much! However with the situation I am facing and a real determination to make 2010 all work out I am going to change that!

    Thanks so much for the links, I am checking them all out (incl your site) now.

    @Deodat, Pretty much the same as me…. Simple living without stress that’s all I want :) . Thanks so much for your comment.

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  4. mankycat

    11. Jan, 2010

    I’m not too fond of what I’ve seen about Dave Ramsey. I do like Suze Orman. David Ramsey focuses much more on the “here and now”, while Suze pushes for people to look at the big picture. Ramsey kinda pushes to go against what most financial advisors say… at least, that’s how it seems from what I’ve read of his.

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  5. Forest

    16. Jan, 2010

    @Manycat, to be honest I can’t stand Suze Orman (If it’s the woman I am thinking of) and I have not looked up Dave Ramsey yet…. Until recently I steered clear of all celeb financial advisers but am finding more interest now as it’s good for me to know about.

    But if these people push us to be better financially they are all doing a good service…. I am not sure what I think is the best route, will have to read up a bit more and see what suits my life.

    Thanks very much for your comment.

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