Thrifty & Thriving In the mid-1990's, federal government downsizing and furloughs launched shock waves through the local economy. Federal employees, federal contractors and local businesses felt the tremor. Loss of income spurred people who would never have admitted to thrifty pursuits to brag about their bargains at such places as consignment shops, discount outlets and garage sales. Perhaps this is part of a growing "simplify your life" movement. As comedian Steven Wright likes to say, "You can't have everything. Where would you put it?" There are obstacles to thrift. Among those are self-discipline, family resistance, lack of time and lack of information. Here are some ideas and resources for you to try. 1) Keep your goals in mind. It becomes easier to do "frugalized" grocery shopping that saves $20 per week if the savings are looked at as a $1,040 per year increase in pay. 2) Keep a log of every cent you spend for at least two weeks to find the "leaks" in your budget. Keeping track will aid you to see where you can cut back. A soda purchased from a machine everyday at work for 75 cents, for instance, is a weekly expenditure of $3.75, or $195 per year. Bringing soda to work each day that was purchased in bulk for a cost of 20 cents per can will cost only $1.00 per week or $52 per year, saving you $143 a year on one small item alone. Plugging these small "leaks" can save big money. 3) At the grocery store, stock up on sale items; read the food section of the newspaper each week looking for sales and coupons for items you buy. Get fewer processed foods. Buy in-season produce and less expensive cuts of meat; Consider having some meatless meals. Use unit pricing and buy in bulk when the price is right on items you use enough to justify the bulk purchase. 4) Inventory what you have on hand to make sure you don't buy items you've already purchased. 5) Buy used items: look in the telephone book under Consignment Stores (items are sold and proceeds are split between the storeowner and consignor) and Thrift Stores (items are donated; prices are lower but items sometimes are well used) to locate establishments near your home or work. The number of second-hand stores is burgeoning and not just for clothes but also sporting equipment, toys, video games, and compact disks, just to name a few categories of items that can be purchased for less than retail prices. Also, check your local paper for yard sales, and estate sales. 6) Make things instead of buying them. For example, make your own tomato sauce or fudge, jewelry, school lunches, etc. 7) Don't holiday shop at the last minute as this can lead to expensive panic and impulse buying. Pick up bargains year-round and set them aside. Be creative in gift giving. For example, make up "gift coupons" for whatever services you are good at providing, such as auto detailing, haircutting, babysitting or dog walking. 8) Extend the life of your possessions so they will last longer. Maintain cars rather than replacing them. Wear your oldest sneakers for yard work so your newer ones will last longer. Finally, it is interesting to note that the noun "thrift" and the verb "to thrive" both derive from the same Old Norse root word. The connection between living well and living frugally was thus made long ago. Resources The federal government has a
wealth of no-cost or low-cost publications that can help you save
money in a variety of areas. For a free catalog, write: The Frugal Shopper, by Ralph Nader and Wesley J. Smith, published by Center for Responsive Law, P.O. Box 19367, Washington, DC 20036. The cost is $10. Washington Frugal Mania: A Money Saving Guide to the National Capital Area, by Sarah Crim and Gwen Moulton, published by the Capital Frugalist Press, 16010 Pennsbury Drive, Bowie MD 20716. The cost is $14.95.
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