Frugal 101 what you should know at Stop Getting Hosed

Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing free (as in gratis) options, using barter, and staying well-informed about local circumstances and both market and product/service realities.

Don’t you just love the tone of that definition? It’s like the holly grail of frugalness. It pretty much sums it up. Now let’s see if I can do it justice and break down the traits you need to get there.

Realization:

Pretty much when I started my adventure in becoming frugal, a realization started to appear. There is an actual technique to being frugal. Unfortunately this is not something you learn overnight nor can I fully cover it in this article. To be honest it’s something you need to develop and improve at your own pace. But what I can offer is my experiences on what I have learned. So let’s started to explain the skills I feel you need to become a frugalite.

Financial savy:

Financial skills I feel is one of the requirements needed to succeed. In finance we have budgeting, and figuring your net worth. From their, you can determine your limits on what you have and what you can afford. Then make decisions on what lifestyle you can sustain.

Being aware:

Next be aware of your surroundings, is another key to being frugal. You need to know what things are worth. That means figure approx what it may cost to manufacture that product and what you’re willing to pay it. This means a lot of research, which leads to my next point?

Comparing needs to be ingrained:

Comparisons and research, this is something you need to-do almost religiously never go blind in buying anything without doing comparisons, you will be surprised how low a price you can get. And don’t get pulled in to buying right away it’s a trap. My opinion you can always find a better deal what ever it is.

Being determined:

Determination and persistence, another lovely trait you need especially dealing with sales people they want to make you think that is the final price. What I have learned that is just a starting point to how low the price can go. This is where you persistence kicks in and learn to play the game.

Etiquette:

This is what I feel is a sale breaker. Etiquette, you need to be gentle, yet eloquent and not obnoxious, trust me I don’t care how much you try. If you piss the guy off or give the sales person a bad vibe you won’t get very far. It takes a certain amount of skill and practice on this one. Their will be times you just won’t connect with that person, its best to move on and try another related establishment and/or salesperson. You may make a better connection with another person.

Controlling your emotions:

Controlling your impulse and deciding, do I really need this. A lot of times we have that buying itch because it’s on sale. Or you have a little voice in your head convincing you that you need it. But do you really need it? You need to wrap your mind around it and if you can’t, give yourself a day. You will need to find a way to manage your urges, or you will kill your budget. This is one of the toughest skills to master.

Build that contact database:

Build those connections, making contacts. Find sources with deals; speak to people who are in the business of what you want to buy or someone who know someone who is. It’s amazing the deals you can get. Plus nothing like word of mouth, it’s great for you and the seller.

Final Note:

Finally you need to think outside the box. Find new and ingenious ways to find that deal, Ways that are out of the norm. Trust me as you become more frugal your brain starts to develop those new thought pathways and you become more in tune and aware on what is available.

Obviously there are other such skills that need to be gained to be frugal, fortunately it is an ever growing environment that has plenty of space to grow and learn. Enjoy and keep on practicing.