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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

Lifestyle Choices for Frugal Living

1/28/2020

1 Comment

 
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​Today's post is from guest blogger, Rick Pendykoski - on why choosing a frugal lifestyle has many benefits.

You have always been the person who has saved up for retirement. And now that you are retiring it feels like you are the only person in the whole world who feels hapless about money matters right?


Studies have shown that a fair majority of seniors have the same fear. Senior citizens worry that their money will run out, and they will have no means to supplement income during their retirement.

So how can you ensure that your lifetime of savings last you throughout your retirement and also take care of your medical bills?

The answer is simple: frugal living.

It all comes down to that old adage of “Simple living, high thinking.”

The first thing that you should do to ensure that your savings stay in place during your retirement is invest in your 401k and IRA long before you decide to quit your job and move to Florida. Here is a handy tip, if you are regularly saving up your income for both the accounts, contribute to the 401k first.

Here are a few tips on living frugally. Remember none of these options are cheap living; they are just living cheaply... Start with cost-cutting as you make these little changes to your lifestyle:

Home maintenance:
Since more than half of a person’s income is spent on house maintenance, it might make sense to downsize to a smaller house. This will also give you an opportunity to earn money by selling household items that you might not need anymore. But plan carefully if you are moving, because moving can prove to be just as costly as house maintenance. Also, it is important to make sure that your chosen area has the infrastructure and facilities that you might need. It would be preferable to move to an area with a grocery store, hospital, park, and public transport in close proximity.

Try and eat better:
Buy your food in wholesale, and try and cook at home. This will not only cut down your budget by half, but also help you lead a healthy life, because eating home cooked food is much healthier than grabbing a slice of pizza or a burger.


Transport:
Walk or use the public transport. Buying a new ride? Don’t be shy to try the second hand market as there are many good deals available. With the right deal and seller, you can use a second-hand car for more than a decade.

Budgeting:
Make a detailed monthly budget with strict allocations for each area of your life. Try and write down your daily expenses to see if you can stick to your budget.

Holiday Spending:
Make your holiday traditions more meaningful, by spending money on little thoughtful gifts or making them at home instead of buying from the store.

Other than these usual conventional ways of cost cutting, here are a few completely out of the box ideas that you can try to shake off the boredom from your retirement and completely change your life. You and your spouse can try these frugal lifestyles and finally live out your dream of adventures by trying these options:
  • Have you considered living on a sailboat? Trade in your apartment for a sea-friendly floating house. 
    How many times have you wanted to sail away into the horizon? Now that you are retired and so is your spouse, you can actually do it and take your house with you!
  • Live in an RV: Pick up and pack up as soon as the new neighbor starts to annoy you!
  • Fulfill your holiday dream: move abroad to a cheaper country: Many countries with cheaper currency are becoming a hotbed for foreign retired folks. Welcome to the land of great weather and cheaper rent. There’s India, Thailand, and Malaysia to consider.
​
With the proper approach to your finances, a happy retirement should not be a problem. If you don’t wish to be among those who can’t afford to retire, you should be investigating all the lifestyles that cost less. Retirement can be fun too, if planned properly. 

_______________________________________

About the author:

Rick Pendykoski is the owner of Self Directed Retirement Plans LLC, a retirement planning firm based in Goodyear, AZ. He regularly writes for blogs at MoneyForLunch, Biggerpocket, SocialMediaToday, NuWireInvestor & his own blog for Self Directed Retirement Plans. If you need help and guidance with traditional or alternative investments, email him at rick@sdretirementplans.com or visit www.sdretirementplans.com.

     
1 Comment
Vancouver Local Movers link
1/3/2022 01:15:47 am

This is such an amazing blog, I loved it alot. I am so happy I landed here. Keep posting more such blogs.

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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
​

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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