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Spend frugally, live richly

Becoming rich requires living at least relatively frugally at different points in your life. Wealth is not something that comes from your salary - it comes from your ability to use the money that you make on wise investments and purchases that will create additional streams of income. However, for someone who is not yet making enough money to responsibly invest, you can still live richly by practice frugality in your daily life. Here are some tips! 
Ditch brand names for generics There are many groceries that you can purchase as generic brands, without noticing a huge drop in the quality of the product. Find generic items that you enjoy in an effort to save money on food. Items such as generic cereal, rice, pasta, and chips often have nearly identical ingredients to the brand-name items, and cost substantially less. 
Stick to the list Before heading off to the grocery store, take the time to make note of the items that you require. This way, instead of wandering around the grocery store throwing whatever looks good into your cart, you know exactly what you will need for a variety of different meals, and save a great deal of money by not purchasing items that you do not need. Having a list of the items that you need help you stick to a budget. 
Negotiate where appropriate Although you probably would not want to negotiate with the checker over the price of tomato sauce at your local grocery store, there are plenty of items in which negotiation over price is completely acceptable, and even expected. For large purchases or purchases from individuals instead of businesses, try negotiating a lower price before paying the 'sticker price.' 
Find free hobbies Many people spend money hobbies and entertainment. Although going to see a movie can be enjoyable, doing so a handful of times per month can really put a drain on your bank account. Find free or low cost recreational activities to keep you from spending money in your free time. 
Set aside money every pay period Most banks will allow you to specify a percentage of each deposit be placed into a savings account. This allows you to ensure that money from each paycheck is placed directly into a separate account, safe from spending! When you have to consciously transfer money out of your savings account in order to spend it, you will be much less likely to do so. Let that money compound over time and eventually it can be used on something great - like a down payment on a car or house.
Author Bio: Stevie Clapton works for a short term personal loan company.


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