As Tip Heroes, we know (or at least constantly strive to learn) what it takes to be successfully frugal. But a reminder now and then of the habits and characteristics of highly frugal people is always a good check-in. Here are some of The Dollar Stretcher’s ideas about what it takes to be a highly frugal person:
Deliberate Decision Making
Frugal people, for example, don’t just choose the cheapest option and call it a day when shopping. They explore their options, do their research, take the time to think about quality and use-value, and then make well-informed decisions. They don’t seek instant gratification. They take their time to make the best money-saving decisions possible.
Save Dollars by Saving Pennies
Frugal people know that saving money is not always about saving large chunks of money at once. It’s about saving often, even if it’s small amounts at a time.
They do simple, small things like use a tea bag more than once, empty and re-use a vacuum cleaner bag, and clip coupons to save a buck on a jar of peanut butter. However, they also save in much larger ways like trading in their minivan or SUV (sport utility vehicle) for a more economical vehicle.
See Opportunities Where Others Don’t
Frugal people are not mainstream shoppers. They keep their eye out for opportunities, even in the most unlikely places.
School supplies at an April rummage sale or a pile of free firewood on a nearby parkway are true finds for the frugal person, requiring little speculation. […]They don’t own the newest and fastest electronic gadgets that everyone else is purchasing; they have adopted the Rule of One, owning no more than one of anything non-essential including televisions, cell phones, computers, electronics, and cars.
What are some habits that you think are inherent to the most successful frugalistas?
Find 4 more common habits over at The Dollar Stretcher’s Seven Habits of Highly Frugal People.