Now that it’s just 2 more months left to
bid goodbye to 2014, it is high time we sit with our family members and discuss
all the financial mistakes that we committed during the last year so that we
don’t repeat it again in the coming year. If you’ve just purchased your home or
car, your goal should be to pay it off right within the next 5 years. But how
on earth would you manage to do that when you have huge amounts of debt on your
cards? How about adopting a frugal lifestyle this 2015 so that you can cater to
the more important expenses and then take into account the less important ones?
Living on a tight budget and adopting a frugal lifestyle is no crime and it
doesn’t even mean sacrificing all your luxuries. You just have to spend
according to your income and also ensure that you save enough from what you
make in a month. Have a look at some frugal finance tips for you to follow.
- Carpool to work: If you’re using your personal car for reaching your office, stop that immediately so that you could save a considerable amount of your dollars on refilling the tank. If you can carpool to work, you can save sufficient money on your car and thereby use it for other important purposes. You can even put it straight into your savings account.
- Cut the cable connection: Do you really have enough time to watch television? Sit back and think. Before paying your cable connection bills every month, how about cutting it off for the time-being to check whether or not you can save enough money. If you really don’t have enough time to watch television, you can cut off this connection and use it for your internet connection. Catching up on recent programs through YouTube could be easier with the internet connection instead.
- Stop drinking Starbucks coffee outside: If you’re a person who drops in at a Starbucks corner every hour, give up this habit once and for all. Don’t you know how to make coffee at home or do you think that you don’t have enough time? Well, if you’re living on a tight budget and you’re trying to save money to be able to repay your mortgage on time, even if you don’t know how to make it at home, learn it! Save your dollars by eating and drinking at home.
- Consolidate debt: Another step that you may take to save money is to consolidate debt through a professional company. If you owe a huge amount on your credit cards, you have to make sure that you combine your debts and lower the interest rates and the monthly payments so that you can save money in the long run. You can either choose to transfer your balance or take out a personal loan.