A Spendthrift to Penny Pincher's Forte

Why is it when we shed that old skin of spending and expose our reformed selves with a goal to save, somebody comes along, and it could be the dearest of friends, and says "you're cheap" or something else to make us feel like a "cheapskate"? When it comes down to the nitty gritty, it's true, a lot of people are struggling and watching out for the number "one" or themselves, but the important thing to remember is the spirit of understanding.

Then what are some realistic resolutions with the coming new year for the reformed spendthrift but now "cheapskate" or "penny pincher"? After all, who wants a cheap skate in this cold weather or instead, who would sprain an ankle over dollars?

These are some ideas that might help you and your budget. For most of us not wearing a uniform to work it could be very beneficial, time saving and convenient to own one good summer suit, a winter suit, a well-made sport coat and a good dress coat. Consider warm socks, strong shoes, gloves, etc. Another words, with a small good wardrobe you can enjoy life in many ways. Be selective, find things that last, and buy them at a good place.

Another suggestion is to make a list before grocery shopping, or get an idea how many times you have to eat out whether for dinner or at a fast food place. Plan in advance what it is you have to spend and stick to the allowance you've made. Don't find yourself running out, there are lists of staples to keep in your home, apartment or trailer, available in the back of your favorite cookbooks or sometimes in magazines. Frequent trips to the store wastes gas, time and money, also on left-overs thrown out. If you have commodities to use, i.e., paper towels, soap, rice or pasta, etc., buy in bulk if you can for these non-perishable items.

Consider how many times you fill the gas tank in a given time, if you can take a short walk to the store, beach, movies, etc., and you're comfortable doing it, your health will improve and there will be savings of dollars.

Think about saving a fixed amount each week, even if it's only $5. Don't be discouraged because remember the average savings in the U.S. right now with the economy issues is under $400 per household.

Avoid the animosity over having to penny pinch by setting some easy goals, but keep important ones, e.g., a certain amount of time working on the car, a personal interest, hobby, sport or recreational activity, learning or domestic responsibilities including pet care. Keep in mind penny pinching has been a custom in our country from colonial times and it was one responsibility that helped get us started. In modern times many of us have lost the value of saving, the interest rates low, we've been expecting high returns with minimal input. It doesn't mean we must become martyrs over it ; the one relief is to find something interesting to spend our recreational time on. As expensive as movies have become, the price still isn't bad and a lot less expensive than a lot of other enjoyments. Also, for people who like to keep in touch with friends and relatives, consider the old-fashioned art of positive and complimentary letter writing because the savings ratio compared to phone communications are mega. The cost of postal mail has risen the least in comparison to prices for other services. The earliest stamps were 10-cents.

Consider use of public resources including community centers, continuing education, park and recreation departments, low-cost cinema festivals, block dances and performances, holiday fairs, motor tours, ball teams, etc. All these are inexpensive, can be planned ahead for when you have time off, etc.

Be really careful with credit cards and only use them when you have to. We know we need some form of operating loans to be realistic, but if the interest rate is low and the principal is too high, forget it.

Last of all, it can be a good idea to organize what you save in terms of paper, cans and bottles, kitchenware, clothing, tools, rugs, etc. in stackable bins, it's easy to carry out for recycling, or right there if you find another use for your throwaways as a second thought.

One good resolution and goal to keep during the new year of 2009, is to think before you leap in spending, the term "cheapskate" is no longer a negative coinage and simply means people know you're sticking to a budget. If anything it will arouse curiosity.