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Thursday, January 14, 2010

Frugal Friday - Living on Less than you Make

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Are you out of debt?  If not are you working on getting out of debt?  Either way you need to learn to live on LESS than what you make.  If you just live on what you make you're in trouble.  Someday when(not if) an emergency happens you'll run to credit cards or some kind of loan because you didn't leave anything put away for an emergency.  Or in a worse case, someday when you retire, you need to depend on the government for your income because you don't have anything set aside for yourself.

What are some good ways to "Act your Wage"?  Well, first of all you need a budget, we talked about that in this post.  After you tell your money where to go, what happens next?  Unfortunately money doesn't grow on trees, so you need to learn to "make do". 

One thing I've learned through our whole journey is that there are so many things that we really don't need.  There are so many wants that our society teaches us are needs, the line becomes very fuzzy and it's hard to know the difference at times.

When our income was first cut, I stopped buying paper towels (except for this) and used rags for all our cleaning needs.  I had no problems finding rags around our house to use, old towels and t-shirts work great.  This not only saved us money, it also stopped me from adding to the landfill with paper and rags.  I quickly learned there are many ways to become "green" and save some "green" at the same time! 

In our home, we learned to drastically cut back on our eating out.  We went from eating out weekly to, even now, rarely eating out.  There is way to much to put in such a small space here.  Check back next week for great tips on how to stop eating out without feeling so deprived.

Last year I began to learn how to coupon well.  I just loved how much money I could save and wanted to help others. Consequently this blog was born!  Don't forget to join me in my new series, 2010 - The Year to learn how to save with coupons.  Here's Post #1.  I'm working on Post #2 and hope to have it out next week.

Do you have some creative things you do to save money and help you Live on Less than you Make?  Leave me a comment, I'd love to "hear" it!

For more money saving ideas, check out Life As Mom for the other Frugal Friday posts.  Also check out Thrifty Thursday here with Coupon Teacher!


5 comments:

Coupon Teacher said...

Thanks for linking up and stopping by. We are trying to pay off some debt, and you have some great tips!

The Prudent Homemaker said...

I wrote a list here of the things we do to save money:

http://theprudenthomemaker.com/shoppingwisely.aspx
We've had our income cut 40% and it has gone done again this month. We are always looking for more ways to save.

Lori @ Couponomic Stimulus Package said...

Excellent post Brandy! Very informative.

shopannies said...

what a great post and you are right when faced with less income we must decide what is needed and what is not

Leslie said...

Terrific ideas! Those are not only great ways to be frugal, but also to add to savings when the wage increases and you are still living frugally.

 
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