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How to live frugally and make it a habit

A big Tightwad welcome to Shannen, who shares her tips on living frugally as a habit.

Everyone knows that maintaining a frugal budget will help manage your finances. However, there are many who, in spite of their best efforts, simply cannot live frugally. Here are some tips to help you reach your frugal goals:
Live in a smaller house Don't spend money buying large house just because you can afford it. A family of three could consider opting for a sweet 2/3 bedroom bungalow.
Maintain one car If one car will serve your purposes consider downsizing to avoid all the maintenance and insurance on others.
Rent rather than buy In order to buy property, most people take out loans. If the amount of money required to pay the mortgage, maintenance, insurance and interest on the loan is calculated and compared to the cost of renting, it may make more sense financially to rent rather than buy until you can save a big enough nest egg to put towards a down payment.
Search for used items While buying items such as computers, associated hardware, or mobile devices, consider searching online for gently used ones that will suit your needs. Ask friends or family if they have the same item you are looking for and see if they are ready to upgrade and sell you their used device.
There are many other ways to make living frugally a habit, such as preparing more meals at home, making use of the awesome library system for books, magazines and DVDs, and finding free stuff to do in your community such getting some exercise on bike trails or using your local tennis courts.
About the author Shannen D is associated with many financial communities as their freelance writer. She writes articles related to personal finance, debt relief and frugal living.


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