Thursday, June 14, 2012

Thrifty Thursday

I'm reading a book I got from the library called, Thrifty: Living the Frugal Life with Style by Marjorie Harris.  It is packed full of practical ideas on living frugally, but living well.

In the last chapter she gives twenty of the more important tips found in the book, and I thought I would share them here.
  1. Understand the difference between your needs and your wants.  Being thrifty means being self-aware.
  2. Define and redefine your needs until you are confident you know just who are you are.
  3. To thrive is important.  Being thrifty should enhance a feeling of well-being rather than deprivation.
  4. De-clutter your life.  Organizing your life is the first step toward organizing your finances.
  5. Always have a budget in the supermarket, in the garden, in life.
  6. Never borrow more money than you can afford to pay back.
  7. Consolidate your debts.
  8. Figure out your net worth; you may  not be as poor as you think.
  9. Take a percentage of everything you make and save it monthly.
  10. Become money literate.
  11. Always do your research before making any purchases, big or small.
  12. Read the fine print.
  13. Buy well and you buy once.  Quality is the hallmark of thrifty shopping.
  14. Thrift is not about cost but about value and long-term emotional investment.
  15. Avoid shopping as therapy.
  16. Re-purpose, repair, refit, reuse, resell, recycle: from food to fashion to home evolution, be creative and make the most of what you've got.
  17. Never buy more than you need.
  18. Don't throw good money after bad.  Workmanship is at the heart of thrift.
  19. Thrift is about the experiences you create, not how much spend to create the experience (thinking of Emily's birthday week here).
  20. The essence of frugality is quelling the desire for acquisition.  It's about making things complete.
Isn't this good advice?  I really enjoyed this little book and I would recommend picking it up on your next trip to the library.