How Frugal Are You Really?

According to the Merriam-Webster dictionary, frugality is characterized by being careful in the usage of one’s resources. Those who are frugal are unwilling to lavishly enjoy the fruits of their labor. It may come as a surprise to you to know that the word frugal derives from the Latin term “frux”, meaning “fruit” or “value”.

In Behavioral Science, frugality is defined as the resourceful use of already economic goods and services to achieve a long-term goal. If you are keen to adapt this multi-dimensional consumer lifestyle trait in order to save money during the pandemic, you may read the list below to see how many frugal choices you have been doing.

#1: YOU CREATE A GROCERY LIST AND STICK TO IT

Instead of grabbing whatever attracts your eye at the counter, you prefer to create a grocery list and stick to it. It is easy to increase awareness when it comes to your grocery spending when you plan ahead. It may be challenging at first and you may forget several items, but you will find yourself becoming more intentional with your listings as time passes by.

The grocery list is essential because frugal people plan their meals and frequently eat at home. You may avoid the temptation of dropping by a fast food chain by keeping a container of snacks in your bag or in your car. Calm your rumbling tummy as you travel back home.

#2: YOU DO NOT CARRY CREDIT CARD BALANCES

Frugal people are not dictated by their credit card purchases. While some have the discipline to pay off their credit cards every month in full, others choose to stay away from these entirely.

Self-awareness and control play play huge roles in a person’s success with credit cards. If you have been in debt for years, consider to cut down on your credit card spending and pay them off once and for all.

#3: YOU DO NOT COMPROMISE YOUR HEALTH

Being frugal does not mean that you will only invest on cheaper alternatives and low-quality food items. Many frugal people choose to eat healthier greens and legumes and keep meat to a minimum. Frugality does not compromise health to save money. Frugal people have strategically plan their meals and have invested on insurance plans that will benefit them in the future.

#4: YOU DO NOT WASTE FOOD

Frugality entails that you use what you have until you need to replenish it. Frugal people eat leftovers until they are non-consumable or inedible. Eating your leftovers also cuts down on your food expenses and environmental waste.

You may create new meals from your leftover food. For instance, your leftover chicken can be shredded and turned into chicken sandwich. While, leftover rice can be used for your egg fried rice. Just ask Uncle Roger!

#5: YOU LEARN FROM YOUR MISTAKES

Frugal people are not perfect. No one is. Frugal people make financial mistakes and learn from it. You may have spent too much on your holiday shopping last year or caved in to your monthly food cravings.

It is important to be aware of these financial mistakes. If going over budget becomes a habit, you need to re-evaluate your spending patterns and your budget.

#6: YOU KEEP TRACK OF YOUR BILLS

Frugal people look for ways to save money by keeping track of their bills. Other than eliminating unnecessary plans or subscriptions, you may find it easier to pay off your dues through auto-pay programs.

Search through the profiles of your service providers and ask if they have automatic payment schemes. For instance, some telecommunication plans offer automatic payment schemes through online banking. This way, you will be able to save on time and avoid paying late fees.

#7: YOU NEGOTIATE ON A PRODUCT OR A SERVICE

Frugal people love to negotiate to get a good deal. Whether they are purchasing a gadget or an appliance, they excel in the art of negotiation or spotting the best deal. They do not shy away from purchasing second-hand or pre-loved items to get a good deal. And, they certainly do not want to spend S$85 on a cup of coffee.

#8: YOU COMPARE PRICES FIRST

In order to save more money, frugal people tend to search high and low for the best prices and free upgrades. Helpful price comparison apps and websites have flooded the market these days. Some popular price comparison websites in Singapore include pricepanda.com.sg and iprice.sg. Use these tools to help you decide on an item, before adding it to the cart.

#9: YOU SHOP OUT OF NEED

Making shopping a hobby can cause a significant hole on your wallet. Frugal people shop out of need and save money whenever they can. Finding an inexpensive hobby is easy, when you are open to the possibilities. I, myself, am learning how to play a new instrument. I have picked up a Kalimba (Thumb Piano) online for a little over 20 dollars. This inexpensive instrument has provided countless hours of entertainment for me and my family. Now, my entire house knows how to play the Kalimba.

#10: YOU DO NOT SHOP BASED ON YOUR EMOTIONS

Shopping based on your mood may lead to buyer’s remorse and impulse purchases. Frugal people can get into emotional circumstances too, but they usually are not emotional spenders.

You can be the most disciplined person under normal circumstances, but be heavily impacted with unfortunate circumstances. We are not exempted from the effects of the global pandemic. When this happens, you have the choice to throw all the structure out of the window or to slow down and examine possible solutions.

#11: YOU CONTINUE LEARNING

Personal development is important across all fields. Frugal people continue to learn from others and their own financial mistakes. It is beneficial to listen to educational audiobooks and enroll to (free or paid) online classes to boost your professional and personal growth. You may browse through the free courses by Google Digital Garage to start growing and learning.

Image Credits: unsplash.com

Sources: 1, 2, & 3

 

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5 Websites Where You Can Learn For Free

When was the last time you wanted to learn something, just because you wanted to? Do you remember the sense of wonder, the burning enthusiasm, that “EUREKA” feeling when you finally understood something or could see how you could apply it to real life? Life-long learning is certainly something that is espoused by experts and governments all across the globe, but have you considered the cost of learning these new skills or bits of knowledge? While the desire to learn may be high, the price of the education required to allow you learn might be even higher.  We don’t want you to lose your passion to learn though. Here are 5 great apps and sites where you can learn for free!

Duolingo

duolingo

Want to learn a new language, and learn for free? Duolingo offers 8 languages and counting. Both a website and an online app, Duolingo allows you to learn for free in the comfort of your own home, and on the go! Duolingo allows you to learn the language in a fun and easy way, as learning a language is turned into a game, with different levels and quizzes to beat! You can also set your own targets and goals, so the app can remind you to pick up the pace if you’ve been a bit slow lately. I’m learning how to speak and read French using Duolingo, so I can attest to its effectiveness and interactivity. Juste essayer (Just try it)!

Code Academy

codeacademy

Want to be the next Mark Zuckerberg, but don’t know how? Learn for free at Code Academy! Code Academy offers classes in 6 different programming languages, so you can definitely be well versed in all kinds of programming, and still be able to learn for free without having to go to a coding or programming school of any sort! Code Academy gives you feedback and awards for completing milestones, and also give you programming glossaries during tutorials you don’t get too lost when doing it! There are also forums for you to learn and share with fellow programmers. Some courses have a sandbox function, allowing you to test out your programmes and codes to see if they really work, so you can experiment in the safety of the sandbox environment!

Planet Photoshop

Never thought that you could learn from free when it came to design? Think again, because with Planet Photoshop, you’re provided with a whole lot of user created resources and guides on how to use Photoshop! These range from basic tutorials for the really newbie beginners (like me) to specific guides on how to produce different effects.

 

Khan Academy

khan_academy

“Learn for free” takes a whole new level with Khan Academy. Khan Academy offers variety of subjects and courses to choose from. It even offers exam preparation courses, such as SAT preparation, so if you’re a student preparing for an exam, these online courses would definitely help you ace these tests, as you would have practiced your thought processes and internalised the knowledge.

 

Coursera

Imagine the amount of money you pay for your school education. If you’re a university student, you would be spending at least 7k a semester paying for school fees. Imagine if you could learn all what you learnt in university for free! Coursera links up with universities all around the globe to provide these educational services, so one day you might be taking a class from Harvard or Yale right in the comfort of your own home! You can also learn at your own pace, as there isn’t anyone to chase for your work or to push you, so you have to be independent and take initiative to do complete your Coursera assignments!

 

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