The people who are living single necessarily need to be more frugal. If they get themselves frugal now, it will be convenient for them to continue it when they get married. Being frugal can save money and resources in our life. But being frugal doesn’t mean that you should not buy things that are necessarily needed for you. It actually means that you can save money on things that are not necessary for you. Whenever you get quick cash in hand, it is very much necessary that you save the money that you get instead of spending.
Most of them spend more money in the transportation. When you plan to go somewhere it is better you use government transportation instead of your own transport. You can save more money if you go for the public transport system. People are much interested in buying a car. First you will have to analyze whether you need a car or not. If you are planning to buy something first you should think whether it is necessary for you or not. You cannot go for the purchase just for the sake of buying things. Here are some frugal living tips for the persons who are living single:
· Reduce your ATM and Credit Card usage: When you are living single, you will definitely have many expenses. You often go to your ATM center to withdraw money or make excessive use of credit card at flick of the moment. You might have the mentality that you can spend more because you can withdraw money from your ATM or use your credit card with ease. This is the bad idea that you should not encourage in order to be frugal in spending. At best keep them away and go according to budget. You can make use of them only in real emergency situations.
· Make a budget: Making a budget for whatever you earn is a good idea on being frugal. When you start making budget you will be getting a clear idea on what you are earning and what you are spending. Take special care that you don’t spend more that what you have kept as the budget. It is necessary that you make a perfect budget plan to be frugal. Now if you are well versed in making budget plan it will be more convenient and helpful for you to modify it in your future also when you get married.
· Don’t reduce your enjoyment: Being frugal doesn’t mean that you should become strict in what you are spending and should focus more on money making and money savings. Enjoying is the aspect of life and that can be done only at the age when you are single. When you get married, you are loaded with many responsibilities and so the enjoyment takes a twisting point. The life changes totally. But, at the same time you should also focus on being frugal in all aspects when you deal with the money.
· Reduce wastage: In the young age, you will not know the value of resources. You always tempt to waste money and resources at the high rate. So, it is very much necessary that you should focus on reducing the wastage. Instead you can buy things that are actually needed for you. Wastage occurs when you buy things that are more than enough for you. If you plan accordingly then you can save more resources. This is the main aspect in which you can be frugal.
· Going for reasonable things: When you get something that is reliable and for cheaper rate, you should better go for those things. This is the wise way to be frugal. It is very much necessary that we focus on the quality criteria and nothing else because if you get some resources for the cheap rate and that are of high quality, you should surely go for that commodity instead of wasting money on the high rate commodity. People go for some product and waste money just because other people buy it. This is not the way of being frugal. There should be some value in what we are spending.
The people who are single can take many steps to be frugal. Earning more money is not the reason on why people are not frugal. It is up to their mind. They should make up their mind to be frugal. Whenever a person thinks of saving some resources for the future, he will not get a thought of wasting things and commodities. You can also have a list on what you are spending and at the end of the month you can make an analysis on what are the things that you spend unnecessarily. This analysis will be helpful for the next month for you to be more frugal. This is considered to be the best way in monitoring your expenses. You can even tell about your spending to your family members so, they can help you when you go for unnecessary spending.
Food is the main thing most of the people are interested to spend. Eating more is not a problem but spending unnecessarily for the food and grocery items is not more advisable. You can also get suggestions from the parents so that you can make perfect decisions on how to be frugal. At the age when you are single, you can easily change your habits and expenditure which will be very fruitful to live a frugal life in future.
Post by Khushboo Sheth
Picture- Jakob Montrasio