This post is featured on behalf of Stacey White.
The trend for all things frugal has led to a revolution of thriftiness.
Twenty-something hipsters across the nation are up-cycling furniture, modifying hand me down clothing and hot-footing it to vintage shops on the weekend to pick up 1960s geometric wallpaper and parquet flooring for their humble abodes.
While some people still thrive on showing off their status symbols and updating their social media feeds with photographs displaying their latest Michelin starred supper or documenting their five-star luxury trips to the Caribbean, most folk are now happy to say goodbye to the frivolous and hello to the frugal. Take a look at these ways in which you can embrace the thrifty lifestyle without living like a pauper.
Look At Your Big Ticket Purchases
If you have a new car that you bought on finance, you’ll know the financial pressure that this can put you under. Every month you need to pay your PCP or personal lease payment for the pleasure of driving a vehicle that turns heads when you’re cruising the highways. It’s time to stop and think and reassess your car needs.
Do you really need a set of wheels that costs you a small fortune to insure and has staggeringly poor fuel consumption just because it has a nice chassis?
Think about giving your car back to the dealer early and purchasing a cheaper used car. This initial expenditure may only equal six months of finance payments for a new vehicle and will last you considerably longer.
Look for cars with low mileage for their age and those with only a couple of previous owners. Take someone who knows their way around under a bonnet, and you could find yourself a reliable little motor. If you want to downgrade your car into something more reasonable, if could work to get cash instantly with car title loans and use your vehicle as collateral with the intent of purchasing a new-to-you car (but better for your finances) and then selling your current vehicle.
Ok, so maybe a jaunt to the white sands of Bali might be a stretch when attempting to embrace a frugal lifestyle, but you can still enjoy an annual vacation. Think about staying closer to home, saving a little on your accommodation by staying in hostels or camping, and going on holiday out of season.
It’s vital that you make time for yourself and take an annual break for your personal wellbeing. The stresses and strains of life can take their toll and just because you’re trying to scrimp and save, it’s imperative that you can have some time to relax.
Reuse and Recycle
If you enjoy the art of upcycling and love nothing better than whipping out a bit of chalk paint to shabby chic up a 1950s dressing table, you will relish the chance to rejuvenate your older pieces of furniture. As well as tables, dressers, and cupboards you can crochet together throws, sew your own cushions or reupholster your tired looking armchairs.
The theory of reusing and upcycling items doesn’t end with furniture. You can head to your local charity shop, pick up some authentic retro clothing and add some personalized detailing to create unique pieces. If you have a natural flair for fashion, you may want to take your talent one step further and sell your creations. You could open an online store and use your second income to top up your savings.
Food bloggers everywhere are demonstrating how to cook amazing meals on a shoestring budget.
So you might not be able to cook up scallops, lobster thermidor, and the finest fillet steak but you can make some tasty culinary creations that don’t consist of student-esque food.
When heading out to eat, consider going for lunch rather than dinner as you can get the same meal but at a fraction of the price. Check out vouchers and offers online for money off at the posher restaurants and never go out for dinner at the weekend when they ramp up the prices.
It can be hard to remain in a frugal state of mind at all times, but as you see your savings increase and feel the weight of more money in your pockets, you’ll become more motivated to stick with it. It is possible to improve your financial health and embrace thriftiness without surrendering your quality of life.