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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

Saving Alone Will Never Make You Rich, But These 6 Things Might

8/20/2019

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We’ve all been taught that saving money is a good policy. We save for a rainy day and for our futures. We say no to shop-bought coffee, search for discount codes before we make a purchase and generally try to be as thrifty as humanly possible. 

But really, how effective a financial strategy is this? 

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Saving a little each month may help you build a nest egg in case of a financial emergency. It will certainly allow you to make a bigger, more expensive purchase. Who knows, it might even allow you to make other, more financially beneficial decisions. However, in itself, saving is not going to turn you into a millionaire. These six strategies, however, will all bring you much closer to becoming comfortably rich and financially independent.

1. Raise your standards, but...
Tony Robbins once said that if we want to change our life we have to raise our standards. This may have some people confused - after all, how are we supposed the raise the level of our lives if we don't spend more money?

In fact, to raise your standards, you should definitely spend money, though you should spend it the way it counts - on improving yourself. Don't save money just to save - instead, invest in yourself. Don't be afraid to pursue additional knowledge and pay for courses that will let you gain new skills and certifications. Learn something that will either help you do your current job better, making you indispensable at work, or something that will allow you to find other, better paid jobs.
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Some learning opportunities might be costly, but some are free. However, even if you have to spend some money, you are making the best possible investment. A new position within a company or a completely new job might allow you to earn more money in a year than you could possibly save in 10 years.
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​2. ...Don't raise your spendings.
​​Most of us tend to live within our means. However, if we get a raise at work, chances are our lifestyle will expand to use up that extra cash. Our vacations, our clothing, our home may all become a little more lavish. This is absolutely natural for most people. However, if you are trying to become financially independent, you must avoid recklessly increasing your spendings.
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Instead of using up the extra money you’re making, put it away somewhere where you won't be able to waste it easily. To do so, you might create a banking account – not so much for saving as for simply storing your money out of easy reach. Keep outgoings the same and put additional earnings straight into that untouchable banking account. Just make sure to read our next point before choosing your account.
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​3. Look for the Accounts that Actually Earn Money
​Saving money in your regular account is all well and fine. But most current accounts don’t help you to grow your money.

Banks offer a variety of savings products and you should find one with a good rate of interest if you want to make the most of your earnings.

Accounts with limited access (so you wouldn’t be able to dip into your funds in an emergency) or accounts where you put in a fixed amount each month often offer the best interest rates.

And once your savings account is opened, don’t fall into the trap of paying in your money and forgetting about it. Banks change their interest rates all the time. So you need to keep up-to-date with the best savings accounts around and move your money accordingly.
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Above all though, don't let your account lose money. You've started it to store the excess of money you make now so make sure that the account itself isn't eating your money up. And once you have stored enough cash, you are ready for next steps.
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​4. Invest in Property
​If you have a good deposit and can afford a mortgage, consider branching out into the housing market. The National Association of Realtors says that in 2019 house prices are rising more slowly than in the past. But they nevertheless continue to rise.

This means that money invested in a property will grow. As long as you’re prepared to invest for a considerable stretch of time - you stand to sell your property for more than you bought it.

And if you decide to use your property as a rental, there could be even greater gains going into the future. Check rental property calculator to get a sense of the figures involved, and if everything seems alright – invest your money in a rental property. You'll have to wait quite some time for the property to finally start bringing money, but it's a sure way to earn. After all people will always need a place to live, sleep, and eat. And you can provide this place.
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​5. Invest in a Retirement Account
​There are lots of tax advantages associated with saving for retirement. You might be limited as to how much you can contribute to your retirement account each year and won’t necessarily be able to touch the money until you reach retirement age, but it’s still definitely an investment option worth looking at.

A 401(k) pension plan comes with the option of “employer match” meaning simply that your employer will match your contributions. Alternatively, Traditional and Roth IRAs offer different tax options meaning you can pick the one that best fits you.
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Do a little retirement research to find out how best to enter your non-working life feeling financially secure.
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​6. Invest in Stocks and Shares
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Many people feel that investing in the stock market is too risky. Or that they don’t have the necessary knowledge.

But nowadays, with apps, robo-advisors and a whole load of e-learning options, it’s never been easier to start investing in stocks and shares, even without a financial advisor.

For risk-averse investors, the advice is to diversify – make sure you have shares in a few companies, industries and even countries. This means a fall in one should be balanced out by a rise in another. However, don't overstretch yourself. Instead of happily investing in every single fad that might seem decent, invest in a few things, and be sure to watch those investments.
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Also, be prepared to keep your investments for at least five years. That way any downturns are usually rectified, you avoid making significant losses and stand to make significant gains.
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Saving alone will never make you rich. You need to be savvy about your savings and invest your money in places where it's almost guaranteed to grow. Without taking too many risks, you can edge closer to your ultimate goal of wealth and security.
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About the author:   
Sienna Walker is an avid blogger with great passion for lifelong learning and constant self-improvement. She is also a huge fan of creating smart, passive income, and earning more on the side. When not writing, she might usually be found online, participating in online courses, or watching motivational videos. Feel free to visit her Twitter @SiennaWalkerS and say “hello” to her.

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4 Most Surprising Ways You Can Save Money

8/7/2019

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​No matter what you are shopping for, everyone loves to save money and bag themselves a bargain. Whether it’s clothes, a new sofa, or you're looking to treat yourself to a new gadget, there is always a way to save yourself money. 
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1. Shopping online

While it is not surprising that shopping online can save you money, there are a lot of myths surrounding online shopping. For example, it is commonly assumed that products on eBay are low quality and second hand. However, it’s estimated that 81% of items which are sold on eBay are actually brand new. When browsing, be sure to check the product description, as this will state if the item is brand new or pre-loved. Also, never forget to check the seller's feedback score. A high feedback score indicates that the items sold are genuine, and that the seller has a good response time and shipping time. 
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2. Yard sales

​If you aren't too concerned about buying something pre-loved, then yard sales are the place to be! You can often find items for a ridiculously low cost, and they tend to be in good working order. Many items that are sold at yard sales work perfectly fine, it just may be that the owner has decided they do not get enough use out of it, or they may have got a new version better suited to them. Sometimes, you can find things that have never been used and are simply unwanted gifts. 
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3. Charity shops

Want to get yourself a steal and help a good cause? Then head down to your
local charity shop! From books to clothes, kitchen appliances to furniture, a charity shop has it all! Many items donated to charity are merely items which did not get enough (or any) attention from their original owner. Products sold in charity shops are also quality checked, so you don't have to worry about going home and finding that your purchase is faulty or broken. If you can't find what you are looking for, you can often ask the store assistants to keep an eye out for what you are after, and they will often reserve the item for you! 
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4. Friends and family

One thing very few people think of when they are on the lookout for something is friends and family; your friends and family will most likely have something you would LOVE to have, and the chances are, you will have something they would like too. Simply spark up a conversation, or even a group chat, and see what you all have to offer each other. This is a great way to bond with your friends and family, contribute towards global efforts to save the planet, and save money! 
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​So, whether you are after something brand new, or if you are looking to give something a new home, there are plenty of unique ways to save yourself money, and you're sure to find yourself a steal!

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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. 
        

    Real Savings 
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    A Richer Life

        
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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
​

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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