One of the most significant results of the economic slowdown that began in 2008 is that individuals have started to look for ways to be frugal without giving up luxury. People are looking for ways to cut costs and make more responsible decisions, but remain hesitant to give up the comforts upon which they have come to rely. These savings can come from a variety of areas and logbook loans but share the theme of maximizing one’s consumer dollar. What follows are a series of tips that can be implemented to allow one to be frugal while still enjoying a luxurious life.
Avoid Prepackaged Foods – While the apparent convenience factor of meals that have been prepared for sale by a manufacturer seem like a way of life for many, the frugal consumer is aware that preparing one’s own meals in not only more cost effective, but leads to far higher quality meals. Not simply as a inertial response to the whole grain and green movements, but as a matter of proper budgeting, if one plans meals for a week at a time, it can significantly lower one’s food bills. If there is no need to make multiple trips to the grocery store, one is less inclined to spend money on unneeded items. A subset of this concept is to be aware of what conveniences one is willing to pay for and which should be skipped. For example, buying a cake from the bakery saves hours of work and the need to purchase all of the ingredients in bulk. On the other hand, buying pre-cooked and sliced chicken may triple the price while only saving minutes. Being aware of these differences can have a significant impact.
Buy Used Cars – Even if one prefers to drive a luxury car, by shopping the used market, the initial price drop associated with new cars can be avoided. It is important to be aware of the overall cost and duration of the car loan one is considering when buying a car because it is easy to be fooled. Dealers tend to focus of the total monthly payment as a way to entice consumers to consider new over used. Additionally, there tend to be more incentives offered on new cars and loan terms can be longer. The result, however, is a higher cost in the new car market. For example, even if the payment was identical between a new and used car but the term was different, the cost of new is higher. If one keeps the car for only a few years, the new car loan may be equal to the value of the car; if one keeps the car, the payments continue. The used car will have built equity and if one keeps the car, the payments will be finished.
Use Schools to Cut Costs – Whether one is referring to schools of dentistry, fashion academies or culinary institutes, most major cities are full of schools with students who need practice. This can lead to major savings for someone wishing to be frugal. Whether one is considering a fancy meal out, a basic teeth cleaning or a new hair style, students will be supervised and are fully capable of providing quality service. The cost of these services tend to be a fraction of what is charged by graduates, so finding schools that offer services to the public is a great way to save.
By following each of the above suggestions, and other similar ideas, one can live frugally without giving up luxury.
My name is Nisha Sharma. I represent a site called http://www.comparelogbookloans.co.uk/ I love to write, especially about travel, finance and offer business advice.