Live On Less and Optimize Life

Yesterday's free spending ways have given way to taking a serious look at living with less and enjoying it more. Today's economy demands changes. If we're not prepared to meet the new reality of life, we'll join the ranks of those who paid no attention to living within their means

Frugal living is back in vogue. Poor job prospects, investment losses and a dismal future have everyone worried. The first cutbacks are the luxuries that were thought to be necessities. The average homeowner has a number of choices to help him weather the current economic state and come out of it unscathed.

1. Most people simply don't like to budget, but you can't know what happens to your money without one. Creating a budget enforces discipline and shows the best way to trim those extra expenses. Few people ever think of budgeting their time. But to be effective and accomplish more means scheduling tasks in order of importance.

2. Eating out has become an American icon. Eating at fast food and restaurants is a tradition for many families. Unfortunately, the money spent is severe when the price of the meal, alcohol, taxes and gratuities are factored in. Dining out less often means more money for food that can be prepared at home and more money set aside for savings.

3. Those fliers in your mailbox and wedged between the newspaper sections can shave a great deal off the food budget. Clipping coupons isn't a lot of work as those dimes and quarters saved add up over the year.

4. The car is an asset. But if it's not maintained, it becomes a drain on family finances. Next to maintaining the car comes its use. The habit of driving to the corner store for a newspaper of jug of milk is not economical unless you live miles away from the store. In most cases, walking is the better alternative. Planning a route to accomplish several tasks in one day instead of spreading them out over several days insures less wear and tear. Many families with two cars can often do just as well with one car. Living close to work affords much needed exercise as walking or cycling can save on maintenance costs. Using transportation means taking the bus or carpooling to work.

5. Trying to keep up with the latest fashions can be expensive. The right clothing is necessary to project a good image, but there's no need to stock up the wardrobe with clothes that are seldom, if ever, used. There are no fashion police waiting to scan clothing tags to see if they're made of cotton or polyester.

6. There's no need to keep the house warm when no one is present. Lowering the thermostat a few degrees while away or sleeping can shave the cost of electricity every month. Washing clothes in cold water and turning off lights when rooms are not in use insures more money stays in the savings account. Unplugging appliances, TVs, computers and radios that are normally left on consume less power. Faulty wiring in a toaster or coffee maker left plugged in have started many fires.

7. Changing the oil in the car doesn't require a mechanic's license. Changing light bulbs or the furnace air filter doesn't require the expensive services of a professional. Caulking around widows and doors to eliminate drafts and prevent heat from escaping are easily done and don't require a college education.

There are many ways to live a frugal life. In this time of economic turmoil, learning how to live on less will help create the habits that last a lifetime and help weather the severest economic downturns.