Using Tigfhtwad Basics to Live Well

In this day and age, living well can be very expensive. However, by employing a few simple but relatively painless strategies, you can continue to enjoy a desirable quality of life and not be stressed out about monthly expenses.

Step 1

Limit or cut out altogether the use of your credit cards. You will never pay off the balances if you keep adding to them every month. Keep the cards for emergencies or to take advantage of earning cash back bonuses on balances you will pay off without fail each month. If you cannot discipline yourself to pay off the balances monthly, then stop using the cards and pay them off; then hide them away for emergency use only.

Step 2

Cut out quick trips to the grocery store. Every time you run out to pick up one or two things, you are likely to come home with a bunch of impulse buys that you don't really need and would not miss if they were not in the house. Plan your meals and snacks for a couple of weeks and make one trip to the store to get everything you need. You'll be amazed at how much money you will save while still eating well.

Step 3

Speaking of eating, limit your meals out to once or twice a week. The rest of the time, pack a lunch to take to work. You will probably have a more nutritious meal and also avoid the stress of having to rush through lunch in order to get back to work on time. Plus, you will save an appreciable amount of money over the course of the work week.

Step 4

Get reacquainted with your local library. You can find books and movies to check out there, as well as enjoy reading newspapers and magazines for free. You will save a bundle on magazine subscriptions, movie rentals, and won't have to buy the latest best seller in order to read it.

Step 5

Think second hand instead of new. While it is wise to purchase major items new, smaller and more disposable items can easily be picked up at yard sales, thrift shops and similar outlets. Clothing, jewelry, toys, and many other items from thrift shops will do just as well and last just as long as new items. You can clean the items when you get them home. This approach will save a great deal of money over the course of a year.

Step 6

Eliminate waste in any way you can. Do you really need that supersized cable package? Make a note of the channels you actually watch over the course of a week. If your favorites are all part of the basic package, get rid of the excess. If all your favorites are local broadcast channels, do away with the cable service altogether. If you are not using it, you really don't need it.

Tips & Warnings

The essence of being a tightwad is to stop spending money for things you don't use or need. This actually makes it possible for you to save money for more important things, such as purchasing your dream home or paying for a new car with cash.

Think of managing your purchases as a stepping stone to getting what you really want, rather than denying yourself small pleasures.

Keep your budget cuts within reason and don't try to implement them all at one time. Ease into the tightwad lifestyle by addressing a couple of issues this week, then a couple more the following week. As you slowly assimilate the new approaches into your lifestyle, you will see measurable results that make it easier to successfully move on to the next couple of items on your list.