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Welcome Frugalistas!

What exactly does frugal lifestyle mean?  I believe it’s being smart and savvy in your choices. Prioritize and take control of what’s important to you and you will come out ahead.

This blog and website offers frugal tips and money saving ideas to help you live a richer life. Save money on everyday living. Start living the "Frugal Lifestyle" today.

Spend Less  • Earn More • Live Better

A Penny Saved Isn't A Penny Earned - It's More!

10/21/2019

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​I recently read in AARP Bulletin the 4 new rules to take control of my financial future. I'm highlighting Rule No. 2 - A Penny Earned Isn't A Penny Earned - It's More. Read more below.
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Wealth, once you have met the basic needs that will make you happy, is all about time, not money. In that case, you have two ways to become wealthier: Make more money or spend the money you have more wisely. Guess which choice is easier.

Let's say you have a net worth of $200,000 and currently spend $20,000 annually above Social Security payments. You have 10 years of financial wealth. Cutting $10,000 in annual expenditures (or a little over $800 a month) by eliminating some expenses and getting better deals on others will double your financial wealth to 20 years.
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By contrast, earning more money in order to maintain that $20,000-a-year lifestyle is a lot harder to sustain. Say instead of cutting your spending by $10,000 a year, you find a way to make an extra $10,000 each year. Now, you won't get all that money, because some of it will go to taxes. But let's say you are willing to work 10 more years to sustain your current spending levels. Doing that might bring in a total of $80,000 after taxes, increasing your net worth to $280,000. Sticking to your $20,000 annual spending rate, you end up with about 14 years of wealth.
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Take notice: Spend $10,000 less per year, and you immediately gain 10 years of wealth. Spend a decade making $10,000 more a year, gain about four. Living smarter and more frugally has a much bigger payback than taking on a side hustle. Cutting back on spending now and committing to lower costs in the future can boost your wealth and move up your financial independence by several years.
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But won't spending less make you less happy? Probably not. We quickly get used to living on less, just as we quickly get used to living on more, says Dan Ariely, professor of psychology and behavioral economics at Duke University. Research indicates that we get more happiness from experiences than buying stuff. The new luxury car may bring short-term happiness, but experiences, like taking the children and grandchildren on a modest vacation or even just taking the grandkids out for a treat, provide memories (and happiness) that can last a lifetime, says Jonathan Clements, author of From Here to Financial Happiness.
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​So how do you know what you can cut out to bring more wealth? Start now and look at where the money goes. The biggest expense, amounting to one-third of the budget of the average household headed by someone 65 or older, is housing, the U.S. Bureau of Labor Statistics reports. Transportation, health care and food are next in line. Limiting car expenses is the easiest and least painful way to cut costs; buy a modest car and keep it for a decade or longer. Downsizing to a smaller home with lower taxes and maintenance costs, or to a rental, is a bit harder. 

​Cut something out for a month or two and see what that does to your happiness. Eating out once a week instead of three times, Clements says, may actually make you happier; the lower frequency will help you enjoy it more, and anticipation of the meal itself brings happiness. Try keeping a daily journal of what has made you happiest. It's far more likely to be interactions with people that cost you little or nothing than a night out at a pricey restaurant or a long walk through your McMansion.
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    What does living frugally mean to me? Well, it does NOT mean being cheap, quite the contrary, I believe it’s being smart in your choices, such as how you spend your money everyday. Prioritize and take control of what’s important to you. I always strive to spend less on almost everything.

    In this challenging economy, some of us have had to cut back on our expenses. Wouldn't it be nice to still have the things or services you want and need but not have to pay full price or even better, get them for free? 

    Choose value and quality over quantity or fads and you will come out ahead. The great benefit of being frugal is that it eliminates waste and clutter which in turn helps our environment.  By doing simple changes towards more “green” and frugal ways, together we can make an impact on our planet. 
        

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     Hi, my name is Marissa Winfrey and I have been living the frugal life ever since I can remember. I have always looked for great bargains and getting the best value for my money without compromising style and quality.

    My background is in visual display and interior decorating. It’s always been my objective to recommend cost effective solutions to my clients. I, of course, practice what I preach! I have furnished my own homes mostly with furnishings and decor items from my own little vintage boutique, estate sales, discount stores, flea markets, yard sales, thrift stores and even curbside discarded furniture!

    My frugal practice goes beyond the home. I offer money saving tips on just about everything, from shopping to travel and everything in between. I hope my blog and website will inspire everyone to be their own Frugalista.
        
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Read and learn about useful tips and tricks from experts on how to live "the frugal lifestyle" everyday!  Check out the books below, to see more of my top picks of frugal and financial savvy books, please visit The Frugal Book Store.
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Living The Savvy Life:
The Savvy Woman's Guide to Smart Spending and Rich Living
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It's Not About Being Cheap.  Living the Savvy Life isn't about being a cheapskate, a miser or a tightwad.  It's about having security and peace of mind by spending less than you make.  It's about knowing where you stand financially on a daily basis so you can make intelligent fiscal decisions. 

​It's about being penny-wise on the things that are less important to you so you can spend money on the things that are important to you. It's about choosing to purchase only the things that you love and make you happy.  
It's about finding, attaining and maintaining balance.  Are you ready to start Living the Savvy Life?

   
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​Thrifty: 
Living the Frugal Life with Style


Best-selling author Marjorie Harris offers a timely and entertaining guide to living the richly frugal life. From tips on how to haggle to becoming a frugal fashionista, maintaining your home on a budget, and thrifty gardening, travel, and entertainment, Harris provides essential guidelines to living a quality life on less. Written in her trademark witty, engaging, and accessible style, Thrifty is packed with simple and savvy tips drawn from Harris' own fulfilled, thrifty experience. Bonus tips come from renowned experts such as best-selling author Margaret Atwood, chef Jamie Kennedy, actor R. H. Thomson, travel writer Sylvia Fraser, and The Globe and Mail's style columnists.
  
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How to Retire Happy, Wild, and Free: 
Retirement Wisdom That You Won't Get from Your Financial Advisor
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How to Retire Happy, Wild, and Free offers inspirational advice on how to enjoy life to its fullest. The key to achieving an active and satisfying retirement involves a great deal more than having adequate financial resources; it also encompasses all other aspects of life -- interesting leisure activities, creative pursuits, physical well-being, mental well-being, and solid social support. 

What sets this retirement book apart from all the others is its holistic approach to the fears, hopes, and dreams that people have about retirement. This international bestseller (over 110,000 copies sold in its first edition) goes way beyond the numbers that is often the main focus of retirement planning in most retirement books.
   
To see more of my top picks of frugal and financial savvy books, please visit The Frugal Book Store.

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