If you’re looking to be more frugal in your day to day life, it’s worth looking at what other frugal people do and do not do on a regular basis. There is lots of information out there on what you CAN do to be more frugal, but a lot less to be found on the things that frugal people tend NOT to do so that’s what we’re going to focus on right now…
Make Impulse Purchases
Frugal people tend not to make purchases without thinking them through carefully, which means they rarely if ever buy anything on impulse. If they see something they think they would like, they’re more likely to make a note of it and wait for a few days to see if the urge is still there. If it is, they’ll research the best prices and only when they’re happy they’re getting a good deal will they go ahead and buy.
Frugal people tend not to buy cars using expensive finance plans that charge a significant amount of interest, Instead, they save until they have enough money to buy a car outright even if it might not be as flashy as some of the vehicle’s their friends have been able to secure on finance.
Neglect to Buy Insurance
A lot of people think they can be more frugal and save money by cutting corners and not buying that important home, pet, or business insurance, but this often ends up being an expensive mistake. Frugal people know that sometimes you have to spend money to save money, and instead of not getting an insurance policy at all, they shop around for a good, affordable policy like those offered by Wilson Insurance Group. If you’re serious about protecting your finances, you should do the same because insurance is so important.
Get an Overdraft
Frugal people try to avoid temptation as much as possible when it comes to overspending, which is why they tend not to get an overdraft unless it happens to be an interest-free one, and even then they are cautious because once you have an overdraft, it’s tempting to always go overdrawn and throw caution to the wind which can lead to more and more risky spending.
Neglect Their Health
What’s health got to dow ith being frugal? Well, quite a lot actually. You see, the healthier you are, the less likely you are to get sick and need expensive medical treatment, which is why truly frugal people make an effort to eat healthily and exercise regularly. This is definitely something you should do too.
Keep up With the Joneses
Frugal people aren’t concerned with appearances. They spend their money when necessary on things that they truly need or which will add value to their lives. They don’t feel the need to buy a bigger house, flashier car, or unnecessary gadgets just to look good. That is why they are able to stay so financially healthy over time.
If you don’t do these things with your money, you too can lead a more frugal life, save money and be more financially secure than your peers – what’s not to love?