Financial Freedom in 2021! Take Action: Day 28
As you get better and better at finding ways to reduce your expenses, make use of what you’ve got, and save a lot of money, it can become a fun game to spend as little as possible on just about everything. This is not a push for becoming cheap, though. Frugality is the goal. A frugal person lives simply and economically, focusing on value over price and quality over quantity.
I watched a few episodes of Extreme Cheapskates with my daughter over the weekend. Every time I watch one of those shows, my jaw is on the floor almost the entire time. Reusable toilet paper?! Cooking a lasagna in the dishwasher?! Using one lightbulb for the whole house?!
I can’t imagine that these “tricks” actually amount to significant savings, and at that point, quality of life is surely affected in a negative way. To me, financial freedom is about living life to the fullest now while also setting ourselves up for an even better future.
Not only does this require a change in mindset, lifestyle, and habits, but it can also require a new set of skills and a bit of ingenuity. While walking this journey, an appreciation for what I already own and a desire to maintain it have truly developed.
What can you do yourself to reduce large (and small) expenses? With the help of free books from the library, countless blogs, Pinterest hacks, and You Tube videos, your options are endless. You can do home repairs and full remodels yourself. You can build anything from gardens to treehouses to furniture. You can sew your own clothes, make your own gourmet meals for date nights, decide on investments without professional help, and even provide music and dance lessons for your children in your home. All it takes is finding the best method of learning for yourself and the confidence to try.
Reduce, Re-use, Recycle, and Rent
A few key aspects to frugal living are reducing what you need/want, reusing what you have, and recycling goods between yourself and others. It sounds so simple, but this shift in lifestyle can be very difficult to make.
I have to admit that I am not very good at the first R. I tend to have multiples of many items. I have dozens of serving dishes and platters, at least 6 cookie sheets, 2 coffee makers, over 30 adult plates and at least as many kids’ plates, plus 3 cabinets full of a variety of cups. And that’s just in my kitchen! I don’t even want to admit how many toys we have or how much clothing (mostly hand-me-downs) we’ve collected for our children. I will admit, however, that at one point, I had 8 strollers in my garage! Because of this slight tendency toward collecting (ahem… hoarding), I plan to challenge myself this year to work on purging and living a more minimalistic lifestyle. Plus, I’d like to reduce as much food waste as possible in my home.
On a positive note, though, I LOVE re-using/repurposing. We have salvaged so many valuable items by finding another purpose for them, another location in the house, or another look for the items.
I have a particular dining table in mind. It was purchased at a reasonable price about 12 years ago, and it served its purpose in the dining room for many of those years. However, its style and color were somehow not changing with my tastes. A few coats of chalk paint and a coat of wax brought that table (and 6 chairs) up to date with the rest of my home decor, giving it a few more years in my dining room. Then, we moved… and my table got damaged. My tendency was to give it away or trash it, but I’m so glad I didn’t. We repaired the table to the best of our abilities, and then we moved it outside. It now serves as our patio table, and my husband built a new, bigger, sturdier table for our dining space, which only cost a few hundred dollars to build. Had we decided to trash the original table and not considered DIY-ing a new one, we would have spent a whole lot of money to buy one table for indoors and one for out.
If you don’t feel particularly skilled at repairing or updating your own items, there are actually some groups willing to help you for free out of the kindness of their hearts and their commitment to zero waste. Look up “Fix-It Clinics” in your town. (You might also look into whether you qualify for grants or very low interest loans through the government to make repairs on your home that are related to structure or safety.)
With regards to the third R, I am so fascinated by the push toward zero-waste in many communities and the trading that goes on between neighbors. “Recycling” doesn’t have to refer to dumping your item in a bin and hoping that a large corporation can make use of the scraps. With sites like Freecycle, you can recycle your items by letting someone else in your community have it and make use of it. Bonus: you may find an item yourself that you’ve been searching for.
I’ve added a 4th R to the famous trio to represent “Rent”. Instead of buying a large ticket or rarely-used item, such as a tool for a specific project, a kayak or tent for a camping trip, a bike for an upcoming race, or furniture for a short term living arrangement, consider renting or borrowing instead. It saves money, saves storage space, and saves you the headache of selling or giving away that item when you realize you may never use it again.
As mentioned in the previous paragraph, there are many groups and websites dedicated to passing items along rather than throwing them out and/or buying new. If you haven’t already, join a few Swap or Buy-Nothing groups in your area. You can usually find multiple options in Facebook Groups.
Today’s action step is to make a commitment this year to live a lifestyle with less waste, less hoarding, and more repurposing.
Take a look around your home. What could serve a different purpose? What could serve a better purpose for somebody else? What can you clean or repair to make it last that much longer? What skill can you develop to save money and/or add value to what you already have?