We live in a frightening time.
For most of us, gas was about less than half of what it is now when we got our licenses. When I got mine in 2002, it was about $1.40, or $25 at most to fill up my 16-gallon 1999 Toyota Camry tank. And we thought that was expensive.
Now, I have to worry about rising bread, dairy and rice prices. I can’t vacation past New Jersey, now that “Stay-cations” are the new [economy-forced] trend for vacationing. The Dow Jones loses points faster than me in Scrabble, and if I were a waitress, my tip jar would be suffering and that $2 pay an hour, just not bringing home the bacon.
In response, people are striking a frugal chord by cutting back on everyday luxuries. It’s not surprise then that Starbucks sales dropped 28 percent last quarter, that my mom turned in her SUV to use my Camry for better gas mileage, and that public transportation is becoming as packed as a sardine case. More and more people are realizing what they really need, and how it relates to what they have or want.
Every AWKWARD girl has to prepare in her own creative way, and I’m no exception. Here I share with you my top 10 ways to be frugal but still live large - and you may form some habits for life. Then, when you’re a 70-year-old women, your grandkids will think you’re crazy because you still perform [insert weird old frugal habit here].
2008 is so the new Great Depression. At least let’s have fun while we’re doing it.
1.) REUSE WATER BOTTLES
Word on the street has it that reusing water bottles multiple times isn’t a good idea, but I’ve done it three or four times and never gotten sick. Every night I reload three or four of my old bottles for the following day. With doctor’s advising us to drink 72 ounces a day – and with global warming burning the sidewalks outside – it’s a good idea to get thrifty about your water.
Don’t like tap water? Get over it. It’s almost common knowledge that Dasani water is New York City tap water. Unless you’re living in Hicksville, I wouldn’t worry. If you do worry – get a Brita. The one-time $30 price tag is worth it for that crisp clear stuff at your free disposable. The $2 water vendors on the street corner may go out of business – but at least you’ll still have your thirst quenched.
2.) BUY GENERIC BRANDS
If you know anything about patents, you know that there is a set period of time before anything can be ‘duplicated’ due to legal restraints. But when a generic brand is released, you betcha it’s the same stuff as the “name brand.” So why spend an average of $3+ more just because you can recognize a brand from its manipulative marketing campaign? Go thrifty and support the no-name guys.
3.) SHOP AT THRIFT STORES AND SELL YOUR CLOTHES THERE
Sort of obvious – stop spending so much money on clothes.
Go through your closet and think about what you haven’t worn in the past 6 months. Want to hold onto something because you just “might” wear it? Screw that. Put it in a bag and see what $$ you can get for it at your local buy-and-sell thrift store. Trust me from personal experience – you won’t wear it again. And if you do, you’ll feel like a loser because it’s from the GAP six years ago, and trust me, you don’t want to fall back into the GAP, no matter how AWKWARD you are.
I’ve averaged $80 on a sell-to-buy trip. Most thrift stores offer cash at about 30 percent of the value of your clothes, or a credit at their store for 50 percent. If you need to scores some new trends, then take the 50 percent. Need grocery [or drinking] money? Go with the cash. It’s a great feeling to walk out of a store and know that you are not only a.) getting some free cash in your pocket, but b.) helping the environment by recycling your clothes.
SCORE.
4.) OPEN AN ING DIRECT ACCOUNT TO SAVE $
I’m not much of a financial person. I’ve never kept a check book, and my mom paid my credit card in college.
OK, so I was spoiled, and now it’s time to get serious. I can’t live like a princess and I have to start thinking about the future. I opened up an ING Direct account to automatically start saving at a 3 percent interest rate – the highest you can get in a savings account anywhere.
The average rate at your local bank is about 1.5 percent, and with your bank you always have access to those savings at your local ATM. Not ING Direct. This is an online-only account that you set up to link to your bank account, and to automatically withdraw a set amount of money at a time period designated by you.
Right now, I get $$ taken out of my Bank of America account every two weeks. I don’t even know it’s happening – it just does. My nest egg of savings grows without my awareness, and when I see a Marc Jacobs sale, I’m not standing there convincing myself to blow $200 on a hot new dress marked down from $500. I can’t even get my savings money without a 3 day waiting period of transferring funds back to my bank account.
Save money now – make money while saving money – and forget about it.
5.) GET YOUR CONDIMENTS AT THE CONVENIENCE STORE
It’s true. I steal sugar packets, cream, salad dressing, salt & pepper, utensils, napkins, even saltines from my local convenience store. The community hub doesn’t mind if you stuff some extras in your purse – it’s there for the taking because you are most likely making a purchase which reflects the need for these things anyway.
Don’t get greedy and grab a whole box – but remember to grab a few necessities every time you stop in for coffee or otherwise. Create a “borrowed” drawer at home, and you’ll never have to run to the store for a pound of sugar that will just go bad in a month anyway.
6.) BUY YOUR GUM IN 3-PACKS ONLY
Let’s compare. One pack of Orbit costs about $1.50. Three packs? $2.99. That’s two for the price of three. If you find the 3-packs with a one dollar coupon on the inside, then your next 3-pack is only $1.99. Score. Chew Orbit all day, debt free.
7.) USE YOUR BONUS CARDS LIKE WOAH
Relocating to Spanish Harlem was the best idea during this struggling economy – the impoverished Manhattan neighborhood is home to a discount grocery store Pathmark, 99 cent stores and corner store bodegas galore. Plus, the McDonalds, Wendy’s and Burger King $1 menus are only a hop, skip and jump away.
But when you don’t have discount chains nearby, you need to get savvy and pick up your local discount cards. Only shop at drug stores with discount cards – CVS and Duane Reade are some examples, while WalGreens and Rite Aid don’t have them [so in other words, don’t go there].
Almost every grocery store, with the exception of elite grocers like Whole Foods and Trader Joe’s, have discount cards.
If you get a coupon at the end of your purchase, be conscious enough to use it before its expiration date. Right now I have a $5 off purchase of $15 or more at CVS. I can’t wait to pick up some basic goods for a quick discount – don’t go blowing your coupon on hair products you don’t need, but think strategically. Get some bread, milk and eggs for less than you would at Pathmark using the coupons you’ve acquired.
Other establishments – Borders, cafes, ice cream places, etc. have discount cards. Just ask your cashier, start piling them on your key chain, and let the discounts begin.
8.) BECOME A SERIAL DATER
If you read my post a few days ago, you’re in the know about my “Dating by letters” game. The idea is to let down to your guard to everyone who wants to spend time with you – because the object of the game is to date all letters of the alphabet, and in order to do this, you can’t snub off that “U” you’ve been so desperately needing. In return, you are hopefully introduced to a new person and experience you may have missed out on otherwise.
An ulterior motive to this game is to add some luxury into your life. Most guys want to pay for the first date – so if you go on 26 of them, then that’s a solid, steady stream of dinner and drinks, and sometimes a piece of entertainment thrown in for dessert.
I’m not a gold digger – I’m a smart digger.
9.) LIVE IN AN URBAN ENVIRONMENT? LEARN TO RIDE A BIKE
I never rode a bike. I wore heels, skirts and carried a pretty purse. It just wasn’t for me.
If I had learned to ride a bike to campus, I would have reduced not only my gas costs, but the time cost of finding a parking space, walking to class and always being late – not to mention the nearly $500 in tickets I acquired last year.
10.) WRITE DOWN EVERY SINGLE PURCHASE - AND EVALUATE TO REDUCE
I bought a little pink book to write down each and every purchase I make – from a $12 dinner to that water on the street corner that cost me $2. In a month, I’ll create categories of spending and see where I’ve been spending the most and least to determine what I can cut back on.
Getting a pedicure? Probably not a necessity right now. Buying your lunch at work three times a week? Let’s load up on some Lean Cuisine and bring that down to one time a week – and make sure it’s with friends or work colleagues, so the money feels well spent in a productive fashion. The same goes for coffee – only get that Starbucks latte when you are meeting someone there. Don’t run in and grab one for the road. Use your lattes wisely and they will taste more satisfying anyway.
By evaluating where your money is going, you’ll be more conscious in the future – and you’ll have a mathematical, highly reasoned plan to explain to your friends when they moan and groan to go out on a Thursday night. Not everyone has the financial intelligence of an AWKWARD girl – and once she decides to kick the economy’s ass, there just isn’t any stopping her.
[Except for a Happy Hour every once in a while. Those fall into the “once a week” category no matter the state of the world]
*Posted by Sammy D
