This morning I innocently went through my posts when I stumbled across an article on one of my newsletters about frugal living (hey, you always need to know what your competition is up to ;o) ). I nearly fell of the chair!!! The author claimed that it is a good idea to cut down on your education if you are in financial distress, unless you have a scholar ship or your health insurance depends on it (must be something American). Well, if there is a bad advice I have ever read, this must be the one.
You should NEVER save on the expense of your education. I am not talking about those little workshops that show you how to make jewelry (unless you are planning on making a living out of it) or the likes. Hobbies are not essential, but education that will enable you to get a better paid job in the future is and should never be saved on.
OK, granted, you cannot afford to be a full time student - try getting a good deal on a student loan, or try studying part time (most courses allow for that) so that you can work more hours. Try saving in other areas, such as going out or hobbies (do you really need to be a member of a sports club? Maybe going for power walks or runs works just as well for you). You want to meet up with friends? Invite them over to your place and do a pot-luck dinner party (i.e. everyone brings along something). You don't know what to do (I cannot believe you are asking me this), dig out some of your old board games, play spin-the-bottle or something of the like. You will see how much fun you will have.
Go through your stuff and see what you can sell online - you don't really need four black bags and seven pairs of blue shoes, never mind what you tell yourself. You will also be surprised to see how many things still have the label on. If you bought it more than two month ago, chances are you won't ware it - so try to get a refund at the store or sell it.
What about your car? Is it essential? Could you live with public transport (I have two small kids and where I live, public transport is not a feasible option for us - although, before I had kids I took the train and a bus to work)? Or maybe a smaller car would do just the job - meaning you would get some extra "right-now" cash in, as well as saving on insurance payments (and maybe even fuel).
You should NEVER save on the expense of your education. I am not talking about those little workshops that show you how to make jewelry (unless you are planning on making a living out of it) or the likes. Hobbies are not essential, but education that will enable you to get a better paid job in the future is and should never be saved on.
OK, granted, you cannot afford to be a full time student - try getting a good deal on a student loan, or try studying part time (most courses allow for that) so that you can work more hours. Try saving in other areas, such as going out or hobbies (do you really need to be a member of a sports club? Maybe going for power walks or runs works just as well for you). You want to meet up with friends? Invite them over to your place and do a pot-luck dinner party (i.e. everyone brings along something). You don't know what to do (I cannot believe you are asking me this), dig out some of your old board games, play spin-the-bottle or something of the like. You will see how much fun you will have.
Go through your stuff and see what you can sell online - you don't really need four black bags and seven pairs of blue shoes, never mind what you tell yourself. You will also be surprised to see how many things still have the label on. If you bought it more than two month ago, chances are you won't ware it - so try to get a refund at the store or sell it.
What about your car? Is it essential? Could you live with public transport (I have two small kids and where I live, public transport is not a feasible option for us - although, before I had kids I took the train and a bus to work)? Or maybe a smaller car would do just the job - meaning you would get some extra "right-now" cash in, as well as saving on insurance payments (and maybe even fuel).
Don’t buy books, go to the library. Saves money and space in your home.
Don't save on health and life insurance - you will pay much more in the end, but by all means, see if you can get a better deal.
Don't save on health and life insurance - you will pay much more in the end, but by all means, see if you can get a better deal.
And for those of you who have kids, do they really need a play station? Or an X-Box? Or the latest version of Tickle-me-Elmo? Next to saving money on getting unneeded toys that will be laying around in latest a week anyway, your kids will learn that you don't get everything you think you need. If they don't learn this lesson now they will pay a hefty price later on. And trust me, even if they tell you "I hate you" or "I wish David’s parents were my parents", they don't mean it.
Instead of cramming their rooms with toys (kids usually have way too many toys anyway and still claim to be bored most of the time) do something with them. You will see, they will love it (even those grumpy teens) because they are spending time with you and this is after all what family is about, isn't it?
Instead of cramming their rooms with toys (kids usually have way too many toys anyway and still claim to be bored most of the time) do something with them. You will see, they will love it (even those grumpy teens) because they are spending time with you and this is after all what family is about, isn't it?
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