I have found that frugal living requires many of the same tactics and disciplines as dieting to lose weight or dieting to improve your health. Therefore, when I established my plan for living frugally, I found it very helpful to pull ideas from standard dieting plans to assist me with my financial diet.
If you are embarking on self imposed budget cuts or a reduction in finances due to circumstances, you may find the following tips helpful and encouraging.
When beginning any type of lifestyle change, your chances of success are greater if you find a specific plan that works for you. Just as there are many types of weight loss diets, there are various methods of financial dieting. You may find that setting up a weekly or monthly budget is the best plan for you. You may find that keeping a financial journal and recording all of your expenditures will help you find ways to spend less or save more. It is not the type of plan you choose, but rather, how committed you are to the plan that will determine your rate of success.
When dieting to lose weight, you usually examine your eating habits and make dietary changes that will help the pounds disappear. You take time to read labels, calculate calories, and discover new, healthy, diet friendly recipes. When you put yourself on a financial diet, it's important that you take time to educate yourself about the money saving options and changes that can reduce your monthly expenses.
Reevaluate your insurance policies to see if you can make money saving changes and adjustments. Take steps to lower utility bills. Simple changes or repairs such as insulating your home and switching to energy efficient light bulbs will save you money. Just as with a food diet, small changes can make a significant difference over a period of time.
Any time you attempt to make a lifestyle change, you need something to motivate you as you progress toward your goal. If you have put yourself on a financial diet in order to save money for a future investment such as a home, a college fund, retirement fund, or to save up for a vacation, keep a visual image of your goal where you can see it daily.
If your financial diet is more circumstantially mandatory than optional, you can keep a more positive attitude about the tight budget if your plan does not create a feeling of deprivation. The key to successful dieting is often "Everything in moderation". Even when you're on a financial diet, allow yourself a few small indulgences along the way. This will keep you from feeling deprived and make the transition to a leaner budget a little more pleasant.
When you're trying to break a bad habit, it is easier to do so if you find a good habit to replace the bad one. When you're on a financial diet, you certainly don't want to go to a place, such as the mall, where the temptation to spend is everywhere.
Instead of strolling through the mall or browsing around a department store, find a place for a nature walk, engage in an exercise program, or take your dog to a dog park or for a walk around the neighborhood. If you used to spend a lot of time shopping, volunteering your time or finding a new hobby would also be a good replacement option. A hobby such as gardening can be beneficial to your diet, health, and finances.
It is always helpful to have a support system when reaching for a goal or making a lifestyle change. Sometimes, when you experience the temptation to deviate from your financial diet, a friend or family member can steer you away from the temptation or remind you of the importance of your goal. Members of your financial dieting support group might even be able to share some of their frugal living tips and strategies with you.
By VeronicaHB from Asheboro, NC
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