I started to learn more about frugality and money management in 2016 after I was exposed to some books written by Taiwanese writer (艾爾文), I like the simple ways he uses to explain complicated things, it is totally for someone like me who is bad at numbering. Although I am still no expert about making big money after reading the books, I know that I got the basic concept of money management right, which does change my thoughts about managing my own money. I made changes on my spending habits, cut down unnecessary expenses which helped me to save quite some each month, and with this extra saving, I used them in small investment which brought in some small return.
I like living a frugal life, I never buy the saying ‘if you want to be a rich man, spend like a rich man, even if you are poor’, I hardly imagine myself eating every meal in luxurious restaurants and wearing branded clothes everyday if I was a rich man. I know if I was rich, I will still live my life simple, probably eat more organic food (which is costly), maybe getting some replacement for my worn out underwear :p I got more ideas to use my extra money to shop for experience, not for things.
Here are my 7 ideas which can be your reference:
(1) Make use of library
- Even my favourite Harry Potter series, I do not read the same book twice (except some of my childhood comics), so especially books can occupy quite a lot of space. I read either ebooks or make reading material into PDF to read by ebook reader/ipad, or I borrow books from library. It does not only save money but save so much of the space. If you would love to keep a certain book, I recommend you borrow it from library and read it once, buy only if you really love to keep it and will really read it more than once
(2) Do frugal exercise
- Signing up membership in some branded gym studio can be costly. If you do not need to see crowds lifting up weights to be motivated, investing a set of dumbbells to exercise at home can be a good idea, it will not only save you a lot of money in long run, it also save much of your travel time to the gym studio
- When I started my exercise plan, I started by running, and for this exercise, I only need to invest in a pair of running shoes; same goes to Yoga, all I need is a yoga mat (see how Yoga helps me here)
(3) Sell your clutter
- It was not easy to sell things by your own, but not till recent years where there are many apps with simple steps ‘Snap and Post’ to help you sell things you want to (I only use one app to do so: Carousell)
- After I adopt minimalism, I donated many things to charity and also sold 63 items out which made me total of $1,083
(4) Make own meal/drink
- I started making my own meals more often because I wanted to eat healthier and I started making own Matcha latte and invested a frother for it because I found the one served by Starbucks is way too sweet for me. Only after I researched for matcha power supply and made my calculation on the cost/cup, I realized how much I could save my money from stop buying from branded coffee shops
- For meals, I usually buy the supply which can last me for a week, so I usually eat same breakfast or dinner for a week. I buy seasonal fruits, which are cheaper
(5) Simplicity itself is a fashion, and it is will never be outdated
- I have been replacing my wardrobe with simple cotton t-shirts (a lot from Muji), it saves me time to think of what to wear and the time to shop, and not to mention to save a lot of SPACE in my small wardrobe
- Or you can say I am trying to copy the fashion of Mark Zuckerberg
(6) Find cheaper entertainment
- The commercialised entertainemnt such as watching a movie / shopping / visiting new cafes / Karaoke can cost a lot especially if it was a family outing, imagine you go in a group of 5
- Be creative and go for something different, how about exhibition? Food event? Free workshop? A free yoga session? Be the one to spend some time to find out the interesting activities happening around your city, it can be a wonderful experience to yourself and the one you are going with. There are many interesting activities and some are free, as long as you try to look out for them (get some ideas from here)
(7) Your legs are your best transport
- Do not be lazy, try to replace taking car/bus/taxi by walking or cycling (nowadays there are plenty bicycle sharing companies which make things easy, and mostly free) , especially for those short distance places
- Not only it can save some extra, it helps to build leg muscles… MONEY + MUSCLE
Be Frugal, Be Simple, Be Happy
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