Personal Finance Universe | PersonalFinanceUniverse.com

Martin Lukac asked:


Sometimes we all have to splurge a bit. Those that truly manage their finances prepare for this moment. For example, I put a bit of money back each month in a “no guilt” fund. This money has no purpose, but I can blow it any way I like. It is my reward for managing our money wisely and living frugally.

I know that it can get tiring to be frugal all the time. You want to just go to the store and buy without thinking about anything. We all get burned out. We get tired of being responsible. It happens. Sometimes you just need a break.

So take a small break, but don’t give up and backtrack. There are things you can do to get back on the frugal track. There are ways to maintain your financial motivations. Even if you have fallen off the frugal wagon a bit, you can get right back on.

Start by looking at your goals again. Why are you living the way you do? Look at your dreams and goals. Do you need to change them or adapt them? Goals do change. Be honest and set realistic goals. Reassess why these goals are important to you. Take the time to become excited about reaching these goals. Motivation is key. Your goals are the motivation that keeps you frugal. They are the reason that you even bother to manage your money.

I know that it is easy to get caught up in the “I want right now.” It is easy to become envious of what others have. We want a new kitchen, a swimming pool and a Lexus. But step back a bit. Is cooking in your old kitchen for a few more years worth what you get in return? Prioritize your wants. If they need to become a goal, then make them goals and start saving for them. Otherwise, ask yourself if they are more important than your current goals. Is a Lexus better than retiring early and putting your children through college?

Start looking at the costs of things, not just the appearances. You can either see that nice Lexus, or you can see the really large car payment, insurance costs and worry over door dings. Figure out how much it would be worth when you finally pay it off. How much money would you lose by buying that car? How far would that money have gotten you if you put it somewhere else? Now look at everything this way. Don’t just look it, look at the costs associated with it.

Don’t be so frugal that you don’t allow yourself nice things. You can pamper yourself frugally. Spend time alone. Play with your kids at the park. Take a bubble bath. Read a good book. Drink a cup of hot tea while sitting on your porch on a cool spring morning. Whatever rejuvenates you is great. Often, the best ways to pamper yourself involve just putting down the work and relaxing for a bit. Enjoy life.

We all get tired. But you just have to reassess things and keep on going. Life won’t stop for you and your financial obligations won’t take a day off. You have to simply take a deep breath and keep working. It is worth it.



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Martin Lukac asked:


Weather is the one thing you can’t control. But you can control how you are prepared for emergencies and bad weather situations. And you can do it frugally.

From flooding and hurricanes to mudslides and blizzards, we all need to be prepared for disasters. You don’t have to spend hundreds or thousands to become prepared.

First, you should stay educated. Know what the possibility for disaster in your area is. Some areas have fewer disasters than others. But there are always surprises. In the winter, you may live in an area of the country where you should keep your eye on the weather report for snow conditions. Some people must worry about hurricane or tornado seasons.

Learn the basics of food storage and useful crafts. You will be able to get through a disaster if you know how to make things work. In fact, you will find that a lot of frugal tips are essentials during disasters. You may need to know how to make things from scratch or make do without electricity. Learn the things that will help you survive.

For example, if you know that your electricity could be disrupted in the event of a disaster, you could learn to build a solar oven for cooking without fuel. Or you may have a wood stove in your home that you could cook on. You might even consider shopping around for a generator on sale to run your fridge and deep freeze on to keep your food fresh.

If you do have a wood stove or fireplace, make sure that you have wood and pots and pans that can be used to cook in. Cast iron cookware is best, which you can often find at yard sales or second-hand stores for a reasonable price.

Make sure that you always have at least a month’s worth of your prescriptions on hand. You should also have a well stocked medicine chest, with pain medicine, bandages and other first aid items. Take inventory of it often and replace the expired items as needed.

Many disasters or emergency situations leave you without water. It is a good idea to have a few weeks worth of water stored. You should rotate your water regularly so that it remains fresh. I buy bottled water on sale, but you can also fill containers from your tap.

Food is a primary issue. You should have a stocked pantry at all times. One year, my husband and I were snowed in unexpectantly. We had very little food in the house as we had planned to spend the holidays with our family. We actually opened and ate a few Christmas gift sets we had bought for others.

Since then, we are fully prepared for being stranded at home. Stock up on dry and canned foods when they are on sale. Buy things that you will know how to prepare. Canned meats and spreads that can be eaten cold are an excellent addition to an emergency pantry. Don’t forget to include plenty of vegetables, fruit and grains, not just meat and powdered milk. Soups are often a good addition as well.

You may need to keep some extra cash on hand for emergencies. Many banks or financial instituations may be closed during a disaster, so you will want to have access to a small amount of money.

There are many ways to prepare for emergencies. You don’t have to go out and buy everything at once. Make a list of the necessities and start stocking up on things a little at a time. Before you know it, you won’t even have to make that last trip to the store before the snow hits. You will be ready.



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Paul Hata asked:


The word frugality has left a more negative connotation for most people than simply being a saver, a cheapskate or tightwad. There is a thin line difference to saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotation comes from.

But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong.

If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips.

1.Eating Out – Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.

2.Clothing – Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.

3.Own Home – If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.

4.Buying Your Own Car – Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.

5.Shopping for Groceries – As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.

6.Family Out – There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.

7.Buying School Supplies – Stock school supplies at home and do not buy anything fancy.

8.Be contented with what you have and try to live within what you earn.

9.Plan your Child’s College Education – Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and on campus jobs.

10.Be Aware of your Financial Limitations

11.Anticipate your Failures by Planning – Have always a budget plan so you would avoid impulsive buying.



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Landon Colins asked:


You crawl out of bed at the crack of dawn. Hunger pains hound you. Your dinner last night had only consisted of cabbage soup with a special ingredient: a single potato. Your mouth waters as you dream of a breakfast fit for an English king: eggs, sausages, bacon, baked beans and mushrooms, and fried bread. But you skip breakfast because your cupboards have been bare for months. You put on your drab and tattered clothes, toss on your hat, and then walk outside your rustic house, heading towards the docks.

The First World War and the U.S. stock market crash have sent Great Britain’s economy into a downward spiral. When you get to the docks, the foreman announces that he only needs 10 men to unload the few ships that docked overnight. His head turns from side to side, scanning the sea of tired, nearly hopeless faces in front of him. After quickly pointing and choosing the first nine men, he looks you in the eye for a few seconds. The foreman then raises his arm, ready to point out the last man of the one-day workforce. Is this scene too dismal? Though the Great Depression seems to be an event in ancient history, budget hotels in London remind us of frugality’s value.

Pennies for Rainy Days

Though few of us can truthfully claim to have lived through the Great Depression, we have experienced some of its aspects on a much smaller scale. We have been hungry. We have searched for a job. We have been unable to buy everything our hearts desired. Moreover, we have learned sayings that symbolize the hardships of extreme situations: “A penny saved is a penny earned,” “Save for a rainy day,” and “Waste not, want not.” But how often do we stop to think about those sayings? By checking into one of the budget hotels in London, we can use those pennies saved for other traveling expenses.

Cheap or Frugal?

Does saving make us cheap? Samuel Johnson, one of England’s greatest poets and essayists once wrote, “Frugality may be termed the daughter of Prudence, the sister of Temperance, and the parent of Liberty.” In our day-to-day talk, we use the word “cheap” more often than “frugal.” By “cheap,” we often mean that stingy people like Ebenezer Scrooge from “A Christmas Carol” should enjoy their money a little bit more, or give back to the community. Both “frugal” and “cheap” have very difficult connotations. A frugal person will buy an economy-sized tube of toothpaste from the supermarket to save money for his child’s college education. A cheap person will buy a low-quality toothpaste from a dollar store when he could afford to buy a chain of dollar stores! If you choose one of the premium budget hotels in London, you can spend less and still get the service you deserve.

The Best Budgets

Is it really possible to find affordable yet comfortable lodging during your stay in London, one of Europe’s most expensive cities to live in? Yes! Certain budget hotels in London can accomplish that mission without causing you to holler “Blimey!” after seeing your bill. Such hotels have a friendly staff, a convenient location, and the amenities you want-all at an affordable rate! Nobody can accuse you of being miserly when you stay at one of the best budget hotels in London.

Eras like the Great Depression remind us of the value of being frugal because we do not know when the next “rainy day” will be. However, checking into budget hotels in London with great service and low rates can make all of your days sunny, even in rainy London!



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Martin Lukac asked:


Too many people simply assume that a penny saved is just a penny saved and nothing more. But save enough of those pennies and you will have a dollar, ten dollars or even a hundred dollars.

And the best part of saving a penny is that it doesn’t take a great sacrifice on your part. You are just talking small frugal changes, not cutting out everything from your life.

Frugal living isn’t about sacrifice. It is about spending less and getting the same amount or more. It is about cutting the costs associated with your everyday living. Will turning off a few lights around your house take a huge sacrifice on your part? No. And after a while it becomes a habit. And your electric bill is a tad smaller.

You can change your habits. Challenge is a good thing that motivates you. Challenge yourself to be frugal this year.

The easy thing about living frugally is that you do it day by day. You don’t have to think any further than right now. You simply take it penny by penny. But this can also make it hard to see what you are really saving. It is like watching every single pound when you are loosing weight. You are constantly wondering if you are getting somewhere.

So in your frugal lifestyle, stop focusing on the individual pennies. Take the steps one at a time, but remember that each step is saving you money.

It can be as simple as buying a few dozen cloth napkins and dish clothes and vowing to never use paper napkins or paper towels again. You can save $54 a year doing this. Or you can find an insurance policy that could save you $100 a year in premiums. Either way, those small steps are saving you pennies that add up to big savings. They don’t take a lot of work, but they save you money.

Okay, you may be saying that these things are so small that they don’t really matter. Well, what could you do with $154 extra dollars? How about renting a movie instead of going to the theatre three times this year? That could save you another $75. Change your own oil in your vehicle and save around $40. Quit eating out and eat in one additional night a month and save $240.

Before you know it, these little changes will add up to a nice vacation, new furniture or a college fund for your children.

The options are endless. Saving up your pennies really does make sense. Frugal living is a nice way to take it day by day. The key is to put your savings in an actual savings account. When you notice that your electric bill is lower, put the extra money in your savings. When you spend less at the grocery store, put the extra money in savings. When you eat in instead of dining out, put the saved money in your savings account. It won’t take long and you will see how it starts to grow.



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Martin Lukac asked:


It really isn’t that difficult to save money when you are in college. After all, society has a notion that most college students are completely broke anyhow. If anyone can cut costs, it is a broke college student.

Why else would they be willing to live on a floor with thirty of their closest friends and eat cafeteria food every meal (or those noodles in a microwaveable cup)?

So how can you save money while in college? All you have to do is be a bit creative.

Most college students will tell you that next to tuition, books are the most expensive thing they have to purchase. College book prices are unbelievable. You thought $25 for a bestseller was bad, wait until you see $200 for a genetics book.

Many students have found ways around this. First of all, don’t buy your books until after your first day of class. Many teachers will revise their plan over the summer, after their book requirements have been turned in. While you can return books within the first week at many schools, you don’t want to buy something you don’t have to and go through the hassle.

Don’t worry, if the store runs out of books, your teacher will probably provide copies of chapters discussed until the store gets more books in. Or you will be asked to share.

Many students share their textbooks. Especially those that are in all the same classes (freshmen or best friends). A lot of students will photocopy a friend’s book or the one in the library. Many will simply check the book out.

If the book is for a class in your major, it may be worth it to buy a used edition and keep it as a reference book. Flip through it first and decide whether you think you will really use it again. There really is no need to ever purchase a new book. The used books have the same information.

When you sell the book back, you will get very little for it. This has led to many students selling their books on their own. They sell them for more than they will get back, but less than the bookstore’s used price. This is a great way to save money.

You could also consider swapping books. Many students do this, but only do it with books you don’t intend to get back.

When you are in college you can also save a lot of money by trying not to photocopy too much. I know that I spent a lot of money on copies that eventually became scrap paper. Today, you can often simply scan the text and email the file to yourself. Then it can be used from your own computer, or printed for free at the student computer lounge. If the school charges for this, simply purchase a cheap printer and ink. In the long run, this will save you a lot of money. I personally suggest that you go the paper-free route and just keep the file on your computer. Then you can delete it when you are done or save it for a future project. This is the best way to organize research.

If you really must make copies or print something, try to avoid using the school’s printing services. If there is a print shop within walking distance, become a customer. They are often much cheaper and sometimes you can wrangle a discount based on the volume you are copying.

There are a million things you can save money on while in college, from food to clothes and eating out. The key is to be creative and really think about what you are spending. Don’t just pull out a credit card. While you may not pay for it now, you will pay a lot for it later. Carry cash, spend cash and leave the credit for buying your first home or a new car after you graduate.



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Zacharias Allred asked:


Teaching children to save money starting when they are small is easy. Every child learns very quickly that money buys things they want. They already know the value of money, money concepts are taught in school, and the basic mathematics involved. Here a 7 simple tips to help you get them saving and investing.

1. 3 things to do with money. They can let it sit in their wallets and purses, spend it, or save it and watch it multiply. Drive to different parts of your city with your children and point out different living conditions. Some spend everything and never get ahead. Others let their money sit idle and it never increases. But the wealthy know how to spend what they need and then save and invest the rest.

2. Help your children set goals. Ask your children what they want when they grow up? Every child wants to be someone like a doctor or a fireman but what do they want? How do they want to live? Do they want to be poor or rich? Help them set some goals early and explain that proper saving and investing is a huge part of getting what they want.

3. Help put goals into action. Develop a rough financial plan with them. This is great fun and you will learn a lot by teaching them. If you have a financial planner you could introduce them to your children. This will help your kids see that saving and investing is serious business.

4. Be frugal. If you have not already, read the book “Millionaire Next Door.” This really opened my eyes to the world of the rich. People become rich through saving and investing wisely, not by earning a great deal of money. The typical millionaire in America has appreciated assets from years of careful investing and saving. Show your children how a frugal budget allows you to save more.

5. Open savings accounts early. Take your children to the bank as soon as they understand basic money principles. Open savings accounts in their names and go over the statements with them as they come.

6. Give your children choices. A big birthday party, for example, is expensive. What if your children would be just as happy with cake, ice cream and some games with their friends? Say something like, “A big party like we had last year cost $200.00. What if I put $185.00 in your savings account and just spent $15.00 this year?” Some of your children will still want the big party but you might be surprised to learn that some will be listening to you and will choose the savings option.

7. Time deposits. Since your children will not be touching the money anytime soon, take advantage of time deposits for higher interest. This will give the savings a boost and help you in teaching children to save money.

Teaching children to save money should be fun. Let them know this is for their future because you love them. You will enjoy this time together.



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Nicholas Tan asked:


The word “frugality” has left a more negative connotation for most people than simply being a saver, a cheapskate or tightwad. There is a thin line difference to saving and too much frugality to the point of being awkward and ridiculous. This is where the negative connotation comes from.

But if you are guided with the right principles and reasons in deciding to live a frugal life, you would never go wrong.

If you have decided to live frugally, no need to be worried of insults. Keep your head up high. And keep your focus through these tips.

1. Eating Out – Having gimmicks with friends on a Friday night is fine if you do it once in a while. But this can be expensive if you add them up at the end of the month.

2. Clothing – Naturally, if you are the kind of person who adores signature and designer clothes, do not expect that there will be something left of your take home pay. Instead of being trendy, wear clothes that can easily be matched with your other clothes.

3. Own Home – If you are planning to move out and find a place to settle, do not be overwhelmed by the excitement, instead be practical. As a start, buy a smaller house or try other ways like rent-to-own, do-it-yourself arrangements, and owner financing.

4. Buying Your Own Car – Shy away from sports cars or SUVs. Just stick to your purpose of buying a car which is to transport you anywhere you need to go. Check out also program cars like a new car warranty. Maybe this is not just the best time to replace your car with a new one.

5. Shopping for Groceries – As much as possible do not go with items that are branded. Choose non-brands and try looking for items on the highest or lowest shelves for best prices. Grab the opportunity and shop during sales or use coupons.

6. Family Out – There are inexpensive ways to bond with your family and be entertained like going to libraries, local parks, malling, picnics, visit friends and local church.

7. Buying School Supplies – Stock school supplies at home and do not buy anything fancy.

8. Be contented with what you have and try to live within what you earn.

9. Plan your Child’s College Education – Teach them the ways to be independent and self-supporting by encouraging them to apply for scholarships and “on campus jobs”.

10. Be Aware of your Financial Limitations

11. Anticipate your Failures by Planning – Have always a budget plan so you would avoid impulsive buying.



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Ruth Barringham asked:


Saving money starts with small, simple steps. There are many subtle changes you can make to your life that not only help you to spend less, but also improve your life. And you can start right now.

To have more money you either need to work more or spend less. And let’s face it, no one wants to work more in order to buy things that they don’t have time to enjoy.

Spending less is easy because it simply means less time spent shopping so you save time and money.

So when you go shopping, whether it’s for groceries, clothes or anything else, stop and ask yourself if you really, really need to buy what it is you’re buying. And if the answer is no, then put the item back where you picked it up from.

Why buy a new outfit when you already have a full closet of clothes? Why buy expensive, packaged food when it’s cheaper and healthier to buy fresh? And why buy another tool for the already over-filled garage or a new gadget for the kitchen you never get time to cook in?

Just remember that over-spending is a loser’s game.

And as well as cutting down on consumerism, you can also look at the best ways to save money in other areas of your life. Everything you do to cut back on spending benefits you, your family and the environment. And it only needs small steps and small accomplishments to get started.

At home you can try frugal living. This doesn’t mean doing without things, but rather, being smarter at saving money and saving the planet.

You can start by cutting back on energy consumption by not leaving TVs on standby and turning off unnecessary lights.

If you want to save water, start taking a bucket with you when you have a shower and tip the saved water onto the garden when you’ve finished.

And also in the garden you can learn how to compost all your kitchen and garden waste and use the compost to grow beautiful flowers or to grow your own vegetables.

One of the areas where most parents waste a lot of money is on extras for their children. Learn to say “no” when the kids ask for treats or expensive electronic items.

I once had a neighbour who bought her 2 kids an ice-cream every day from the ice-cream van that came up our street 7 days a week. I figured it out one day that at around $3.50 per ice-cream (she never bought the cheap ones) she must have been spending over $2,500 a year just on ice-cream! And that money could have been used for a family holiday, which is worth thinking about, isn’t it?

So now is the time to challenge yourself to save as much money as you can.

Try it for one month and see how much you can save. For the next month buy only necessary items. Walk instead of driving where possible, don’t have any take-away meals and use up the food in your fridge and pantry before you buy any more.

And by this time next month, you’ll feel a lot richer.



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Martin Lukac asked:


Frugal is economical in defense. Frugal people often uphold values and traditions that patronizations too convictions and standard of living. Often a frugal uses resources for buying strictly moral services and goods in moderation.

Using the chicken feed* economical philosophy frugality places emphasis on economy since the money is busy to meet secret long-designation principles, collective want and ancestral.

A frugal avoids traps. These people defy sky-high* items that the typical norm community focuses on. A frugal embraces free emergency, or free of charge choices rather than high-priced items.

In summary, a frugal is someone that saves money to use in a thrifty stratagem to save the economy. Few of the underpinning tactics of frugal involves the reduction of waste whereas they uphold the law of recycling. In short, a frugal does not follow the norm cycle of spending. A frugal authorizes suppressed spending for purposing of handiwork and fulfillment on the dot during means of inner strength-moderate financial. Self-sufficiency is in order.

A frugal avoids traps. These persons defy expensive items that the trite norm society focuses on. Rather than fulfilling common greed, a frugal will save money by taking free goods or services, or bartering with others, exchanging goods for goods or services for services.

A frugal authorizes to stay with in the guidelines and understanding of the current state of affairs, local situations and so on. In short, these people stay up with the trends, yet focus on areas where they can save money.

A frugal is a self-sufficient person that prefers to live the lucid survival. Often these people associate concepts of their frugality as logical. This often backs a deeply worried emotion or lack of gospel truth*. These people often gain professional knowledge engineering that genies them to understand the commercial domain or the cultures in the corporate world. This herd claims to understand economic changes, spiritual interests and guides best.

Assorted mystical societies aim immensely toward the frugality of its desirable quality or and disciplines. Dogmatists are fine examples of the frugal.

Customary theories regresses these ideas, which interject saving money to make lot more ready for other creations. Environmentalists often follow the frugal form in that these humanity places their virtues on bringing humanity closer. The scope is to convoy humanity back to its roots. This includes the forming into a group to awaken the skills that you thought had died things and people together.

It also includes needing and card-carrying* of part of and discovering the purpose of nature intentions rather than synthetic religious sectors. In summary, a frugal is someone that is prepared to save the economy rather than focus on his or her own greed.



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