Welcome to Week 6 of the Frugal Challenge Series. In this series, you’ll get a frugal challenge you can easily carry out each week.
Over time, these little frugal exercises will help you develop strong frugal habits – habits that’ll make frugal living a breeze.
If you’ve missed my earlier challenges, click on them below. They’ll help you form lasting frugal habits to achieve financial freedom sooner than you think.
This Frugal Challenge Series is perfect for . . .
You if you’re keen to make a start on frugal living, but don’t know how beyond reading posts after posts.
You if you want an easy step-by-step guide to frugal living.
You if you want to incorporate frugal living habits into your daily lives and get some practice doing it.
Most folks think a frugal lifestyle means a spartan lifestyle.
But this is not true at all.
You can still live well while being frugal and make good savings at the same time.
My family has saved more than $40,000 in 2 years on a modest income. Yes, it’s still possible to save well even if your income is not high.
Don’t worry, these challenges are not hard at all. They won’t take up too much of your time.
Week 6 of the Frugal Challenge Series 2019
In this Week 6 of the Frugal Series Challenge, I want you to think of something that you think you need, but which you can do without.
For example, my family hasn’t taken a real vacation for 7 years. Read how we sold off some stuff lying around at home and made almost $770. This sum could have paid for our accommodation.
However, we changed our minds about our vacation as we were too busy. It wasn’t that we have gotten so frugal that we deny ourselves a vacation.
Each family member was duly consulted and we reached a consensus that this vacation was not needed.
We were happy to take short day trips around the surrounding countryside. It was relaxing as there was no packing and we saved on gas and accommodation.
Another example was dining out. It’s one of my passions. Ok, I admit it. This was harder for me. I didn’t think I could ever survive cutting down from 4 times a month to only once a month.
Read about our hugely popular 20 frugal living tips to save more money. They are creative and fun money-saving ways which our family enjoys using every day.
You may want to use our ultimate collection of 300 frugal living tips to save more money in 2019.
Now it’s your turn.
Set aside 5 minutes today.
Think carefully about what you can forgo in the near future. Jot down all your ideas and the potential savings. Then pick one that’ll save you the most money.
If you can’t think of any, here are some ideas for you. Stop buying them if you’ve already got these in good working order.
-New pricey hobbies like playing golf and sailing, just to name a few.
-New electronics like smartphones and bigger TV screens.
True Horror Story
My son’s schoolmates recently bought the latest smartphones they could ill afford on hire purchase at more than $1,300 each.
They’ve already got smartphones that work. They just want to sport the latest models.
Buying on hire purchase meant that they would eventually pay more. They haven’t finished paying for the phones they’ve just discarded.
To make matters worse, they work part time in low-paying service jobs.
As for thrifty me, I gratefully accepted my son’s obsolete Samsung smartphone when he received a new one from a generous relative.
As you can see, giving up on something that you don’t need is a good training ground for self-discipline.
We do need to make a start to control our spending. It’s a question of sooner or later, rather than an ‘if’. So why not make a start now?
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SMART Goals Planner,
100 Frugal Ways to Enjoy Life to the Fullest and
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