Happy Frugal 2016!
Here at the Frugal Pig, we’re not going to ask you to shed 10 pounds or give up caffeine for the new year. Of course, you are free to make those new year’s resolutions if you want to. Instead, our mission is to help people learn to live a happier and more productive life by shedding consumerism and gaining control of their financial lives. Of course, we’re not actually here to pressure you to do anything. In that spirit, please consider these top personal frugality resolutions for 2016!
Frugal Resolutions for 2016
I. Make Some Kind of Budget
You can use software, an app, a spreadsheet, or the back of an old envelope to create some sort of reasonable budget. This process begins with documenting typical expenses, so you understand where your money has been going in the past. For most folks, just sitting down and figuring out how they actually spend money is very illuminating. Hopefully, the process of making a budget ends with you figuring out how to reduce some expenses and save money for emergencies and financial goals.
II. Try to Reduce Debt
It’s the money that you spend servicing debt that is probably creating a financial burden that is keeping you from saving or enjoying your life.Learn which kinds of debt are worse than others and try to attack those high-interest credit cards first. If your debt is overwhelming, learn how you might negotiate with your creditors to come up with a reasonable payoff plan. There are few things that feel better than reducing the burden of debt.
III. Save for Short-Term and Long-Term Needs
A few hundred dollars in an emergency savings account is a great comfort. Many thousands of dollars saved for educations, retirement, and other long-term goals is even more comforting. Document your goals and try to work out a plan to reach them. Of course, budgeting and reducing debt will help, so that’s why this is the third suggestion.
IV. Get Your Money to Work for You!
Everybody that we’ve ever met who is pretty comfortable with their financial life understands that they don’t just work for their money– they get their money to also work for them! Try to learn more about sensible savings and investment strategies to help build assets. Instead of feeling like you’re always a paycheck behind, you can emerge ahead this way. Your funds might not always be liquid assets, but you will know that they are growing an asset and not just getting wasted.
V. Adopt a More Anti-Consumerist Lifestyle
We’re not asking anybody to live in a yurt (unless they want to) or totally go off the grid by next month. However, there are small things that most of us can do to save money and live better while ignoring all of the pressure to keep spending. Can you consume less meet and enjoy a healthier and more sustainable diet? Why not try meatless Monday or Tofu Tuesday? We’ve already got the tofu turkey recipe to try!
Can you consider alternative vacations that won’t generate credit card bills that you’ll still be paying off by the time your next vacation rolls around? If you can replace one consumerist habit a month with a frugal habit, you’ll be likely to help yourself.
VI. Conserve More: Save the Earth
A few dollars’ worth of weather stripping might help you lower your power bills and carbon footprint. It can also help keep your house more comfortable. Why not resolve to fix a leaky faucet, seal a draft, change your AC/heating filter, or even invest in a cleaner and more efficient appliance the next time you need to replace one? If we all took small steps, the savings would add up. Together, we might even save the Earth!
Stick With the Frugal Pig in 2016
We’re back with a clear mission in 2016. Hopefully, you’ll subscribe to our infrequent updates in the subscription box on the top, right of this website. You can also use our comments and contact form to let us know what you think and hope to see in the future. Hopefully, you will resolve to stick with us during the coming year and beyond in order to help spread the good word that frugality is actually a lot of fun! In the meantime, please accept our most sincere wishes for a happy and healthy year!