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Habitual savings #thrifty #frugal #habits

If you make being thrifty and frugal habitual, you can save money without too much effort. Don’t treat yourself because you’ve just been paid. Make some things a challenge. Can you cook a delicious but frugal meal on pay day instead of splashing out? Some people ‘treat’ themselves to a takeaway on Fridays. I tend to cook egg, chips and peas. Besides being an old favourite, it is also a cheap meal! Acquire some habitual savings to save money without even noticing it.

habitual savings

Driving

I do tend to drive too fast and so now I’m trying to get into the habit of driving at a more sedate pace. There is a display that estimates my MPG at any given time and also my average so far. I’m trying to adjust my driving so I squeeze extra miles out of every litre of petrol that I buy. It’s a challenge and I’m doing it! I do mental arithmetic as I drive to work out how much a mile it is costing me! We need challenges to keep our minds sharp and this works for me.

Habitual savings

We are all creatures of habit but to make life more interesting we can examine odd aspects of our habitual behaviour and ask if there is a better way or a cheaper way to get what we want. Maybe it is taking a different route on a journey or using a different shop. Habitual savings can be made by creating a habit that saves us money but we can also save by breaking an ingrained habit too. A prime example is looking at expensive habits like smoking and drinking. Giving up smoking saved me loads of cash and I tend to drink less now and because my sense of taste is keener now it isn’t dulled by smoking I enjoy and savour my drinks more. I was allowed the odd drop of port wine at Christmas when I was a child and I tried a drop recently and it reminded me of my childhood. I could actually taste it like I did before I got hooked on cigarettes. I gave up smoking 14 years ago, imagine the money saved!

Look at prices

Get into the habit of looking at the prices of the things you buy and see if you’re getting value for money. I not only look at prices, I read the labels to see what is in my food and where it comes from. I do something similar with other products. We have a vast array of knowledge at our fingertips these days with the internet and we can use it to save us money. You can use products like drain cleaner (caustic soda) for other cleaning jobs if you know what it is and what kind of surface it will clean, for example. You can also look at reviews on the internet that will help you avoid products that other consumers have been disappointed with.

Stash the cash

If you make habitual savings then you can save money habitually too and stash the cash in your bank account. This can help you avoid credit and loans and avoid paying interest charges. It will also give you a cash pot for emergencies or hard times. A the moment some credit companies are finding that more of their customers are defaulting on their loans or getting behind with payments. These customers are the ones that have to use payday loans and sub prime credit. Further up the economic pecking order people who are better off are cutting down and building healthier bank balances despite pay freezes and stagnant incomes because they worry about the future.

Pension age

The age at which people can draw their pension has risen and many people find they are struggling with age related illness and disability and have to work longer before they can retire. If you’re approaching retirement it is a good idea to get into the habit of spending less and try to pay off loans and credit as you prepare for a life with a reduced income.

That’s it for this week. Remember that we are all creatures of habit and so we can all make habitual savings. If you would like to subscribe to my blog and read more ideas just enter your email address at the top of the sidebar or follow me on Twitter for updates. There are also ideas and links on my Facebook page.

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