How I Will Be Rich

This is part of my ongoing theme “The 8 Step Process to Being Rich“.

There is so much to say about being frugal and so many tips that I could give. Being frugal basically means to spend wisely. Don’t waste money on things that you don’t need but don’t be cheap and skimp on the things that you do need. Being frugal means that when you do have to go out and buy things, you don’t really need the best of the best most expensive things. When you are grocery shopping, buy the generic equivalent of what you want. When buying cars, buy used and hold on to it for as long as you can. There are so many tips I can give that have already been given. Instead of making a comprehensive list of all the frugal ways of doing things, I will make a list of great sites and great posts by others about their frugality. Give these links a try:

• Top Ten Frugal Cars from Young and Broke
• 25 Gadgets That Actually Save Money from The Simple Dollar
• Borrow, Barter, Buy Used: Espousing the Frugal Lifestyle from The Digerati Life
• Simply Thrifty has tons of great posts. I can’t give just one. Visit the entire site.
• Cheap Vs. Frugal at I Will Teach You To Be Rich
• 15 Ways to Eat Healthy While Keeping it Cheap from Get Rich Slowly
• How to live on $600 a month from Finance is Personal
• How to get money for your old clothes and buy quality clothing at a fraction of retail from Generation X Finance
• Don’t Be Afraid to Ask for a Discount from FiveCentNickel
• Thrifty Vs. Frugal Vs. Cheap from Ask Dong
• Frugal Lunch from Clever Dude

Check Out some of those posts to get a real feel for what frugality means. This site is called “How I Will Be Rich” not “How I am Rich”. I still have a long way to go on this step. I’m trying harder every day. I stopped buying DVDs and Music CDs on a weekly basis. This is a step to no only live more frugal but too also de-clutter my life a little. About 6 months ago, I even took a step that is against what I now preach. I bought a new truck. In retrospect, I probably should have bought used but now that I have it, my goal is to get it paid off as quickly as humanly possible and hold on to it as long as possible.

The next post will be Step 5: Start a blog and take steps to monetize.

-M

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