A lot of people would say that there is no real difference between frugal and cheap living. But I find that the frugal person does things with pride and dignity. On the other hand a plain cheap person will do anything not to spend money.

One example is my friend Chuck who like me does not like I places. I bought a very safe and sturdy ladder to do some chores around my house. On the other hand Chuck uses a 50-year-old one rotten ladder and is working on this at heights of 20 feet. I have a great value on my health and safety but, Chuck on the other hand just it want to spend money on a ladder even it might keep him from getting hurt.

A cheap person might even live in a cardboard box when they have lots and lots of money. On the other hand if frugal person will try to keep their living conditions safe and healthy but trying to get the best value they possibly can.

Many people who are just old-fashioned cheap end up spending a lot of money carelessly because they fail to see the value in the things they buy. The old saying it doesn’t cost that much more to go first class has a lot of truth to it. Even when living I frugal lifestyle. So there is a big difference between frugal and cheap living.

You can be frugal without being plain old cheap! The true key is to find the value in the things that you want and need. Price isn’t the only deciding factor when being frugal but most times it is the factor when being cheap. What is meant by value? Many factors go into deciding on a purchase whether it be utilities, housing, transportation, food, entertainment, and all other needs that us human beings need. What are some of the factors that determine value? How long is an item going to last compared to its price? Here is an example, buying brake pads for your car do you buy the altar cheap ones for $25 or $45 for a set that has a lifetime guarantee from AutoZone. If your car is fairly new and you plan on keeping it for a very long time probably the $45 set will be the best value over a long period of time such as 5 to 10 years. If you use a set every two years over 10 years it would cost you over $150 for your brake shoes. This is just the basic example of value.

Good example here of being cheap would be not getting brake shoes  till rotors were ruined. Thus costing $100 plus to fix your brakes. I find that most cheap people do not think of the consequences on spending their money.

On the other hand the true frugal person will look at the short-term and long-term value of each monetary transaction. This is true in all they do. Most of the time taking a frugal person from a regular person can be very difficult. But a cheap person usually sticks out like a sore thumb.

Being frugal is looking for value everything including relationships. This my friends is what life is really all about. Living a happy life doesn’t necessarily mean spending tons and tons of money. There is something to be said about the phrase “less is more”. As I get older I have found this to be very true. It is better to have a few nice things in a big pile of junk.

On the same hand frugal people can benefit from the non- frugal part of society. So many people have tons and tons of stuff that can be bought at their garage sales, flea markets, clearance sales, secondhand stores, thrift stores, eBay, and the list goes on and on and on. I find that paying full price for about anything is out of the question. Just look around and you can be surprised what you will find for a fraction of what you are spending now.

Like the time friend of mine was looking for a house to buy he was complaining about the high prices of houses. I told him he had to look other places than with the realtor. Such as tax sales, private sales, asked by word-of-mouth, look for estates, and these are just a few examples.

Same thing applies when buying a car. Going to a dealer is a almost guaranteed maximum price you will pay for a used car. Watching as you drive by, looking on craigslist, working in the auto trader, or any other want ad. Asking around such as friends and coworkers things like these are the places where you will find a great deal. Sometimes a person has to just look outside the box.

Being frugal takes a lot of work in practice. Being cheap on the other hand a lot of times takes no mental capacity at all. You just do not spend any money on anything!

Remember if you ever have to make the choice between frugal and cheap living I would choose the frugal way.

Thank you for coming,

Mr. Frugal Frank

Well the days of a save return on your money are long gone my friends… Not that long ago to get 6-8% was a easy thing to do…The Federal Reserve has lowered interest rates in the hope you’ll either spend money or invest it into stocks or real estate.  Thus propping up the economy but putting your money at a much higher risk.

So the question is how should I invest all this money I been saving? Everyone’s position is a little different but over-all I say invest into your self..Banks don’t even pay 1 % anymore…Lets look at what I’m talking about…

Got Debt? This is a grand place to start because depending on your interest rate this can be a great place to put you money into…Say you have a credit card with a 14% interest rate..When each month paying a lot more than than the minimum payment or even in a lump sum this savings can be large..Do this with all debts  and then I suggest paying down the mortgage… Rid yourself of car payments also…with each payment that gets paid off most people feel a moment of relief..Besides savings tons of money.

One more part of Frugal Living and Investing Basics are utilities. These are another area we all spend way too much! Most of this come from heating and cooling..So a well insulated house can cut these cost drastically..Looking into a modern heating and/or cooling system could be a way to cut these cost also.. Check with your utility provider because they sometimes come out and do a usage audit plus rebates may be available…Look into government programs that might help pay for insulating your home..

When shopping for new appliances like a stove,washer ,dryer, refrigerator,hot water tank, etc so  consider the Energy Star ones and compare the cost of operation between them..The biggest electric expense can be a electric hot water tank…This can be up to 1/3 of a power bill…Consider converting over to a tank-less gas/Propane and enjoy a over all large cost savings per month..I have saved over $70 per month for the last three years now on a $600 investment into a tank-less hot-water system(I installed it myself).. Saving close to $2500 already! A few friends still ask me about it but they’d like to do it but they just can’t afford it? Well how can you not afford it?? I’m 100% sure it is the wrong priorities with my friends.One might look into a Solar hotwater system or even build one your self… The sun is free so might as well take advantage if you can..

Transportation is a other place where money can saved with a little effort and planning.. Simple things like trip planning can save lots of fuel and time(The most priceless thing we humans have)..When out get that milk,bread ,stop at the bank, even on the way home from work, stop and pay that bill, or any other thing that you have or want to do.. Car pool or take a bus to work (Car pool with other Soccer Moms)…Not only what is saved on gasoline but the wear and tear on the car giving more saving on top..Buying a car that gets better fuel mileage can be helpful but only if a lot of driving is done..A example where buying a car to go fro 20 MPG to 50 Mpg wouldn’t be in my moms best interest because she drives less than 3000 miles per year…Things that you should be aware of are the Miles Per Gallon your car gets (Fill the tank then write down the mileage on the car. At the same time fill the gas tank drive till you need gas again refill the tank take the new mileage subtract the first one you wrote down the divide the number of gallons into the miles driven thus MPG or better known as miles per gallon)..One other important step is to see how many miles are driven on you most common trips..Like to work or for work.. Then divide the number of miles driven for a trip (like to work) into the MPG of the vehicle to see how may gallons per trip is used…Then multiply to by the current gasoline price to get the daily cost( Then by the number days per week)’ To get a monthly amount multiply by 4.3 (The number of weeks in a month).. Use these numbers to compare MPG on a car purchase… Also check the number of total miles driven per year.. This to see whether of not it a good investment to pay more for a economical car..

We all eat..One constant expense we have for being human…Frugal Living and Investing Basics is buying what we eat at the right price..Paying more doesn’t make it taste any better my friends..Stocking up on sale items and using coupons on top of that when and where ever possible..Like us, we seem to buy and eat just a few basic items..Buying these things on sale and with a coupon makes a lot of sense..The trick here is to have a idea how much you use per month/year  then watch the expiration dates..

Far as investing into a bank or stocks …..  Banks pay hardly no interest and sometimes if your lucky to get 1%  but your money is tied up for years…  Stocks are very tricky to buy and sale…Most people who day trade lose money.(Over 90%)   So my friends It is best to invest in things that save you money over time.. Money not spent is better than earned money because it tax free…..

Please watch where the moneys flows and try to keep much as possible.. Please stop back,  Mr Frugal Frank

In today’s world being slapped with tons of ads and sales pitches everywhere we turn learning how to save money fast is a difficult thing to do.  Might as well chase the rainbow to find a pot of gold.. But maybe their is hope…Setting up what is your lives priorities..To quote the famous money guru Dave Ramsey actually to paraphrase him “Having a emergency fund makes emergencies turn into just a inconvenience”.. You see by putting away a little money now so when it is needed makes things go so much smother..

If the ability/skill to save is developed A whole new out look on life is made also… Imagine  going to work and being able to just quit one day?  Having money to get that super deal when it comes by? Start your own business ? Well the key to this is good money management skill set which includes saving money..So lets look at a couple of things here…

I like to call this the don’t touch it plan..Really helps with the over-all mindset of start savings and doing it fast.. Depending on your pay cycle what can be done is wait 2-3 days before touching any of a pay check..Then the following Pay Day add 2-3 more days onto that … keep doing this and in a short time you’ll be surprised on the amount that is in the bank..

Plan two is to pick one day a week to spend and then for the rest of the week don’t touch anymore money just make do with what you got on hand..Use the brain instead of the wallet to survive..

Get a large jar and save the change..While out do not spend any of it… When I buy gas for the car I make sure I get some change for the pot..This can lead to 100′s per year…

A thing I like to do is “Target”(No Not the Store!) my money..Like fixing my own car,  the $50 I saved on putting on my own brakes is put into my special fund…Maybe using coupons in the grocery store take the coupon savings(or even part of it) and put it aside… If the electric bill is a $100 a month average go around turn things  not in use off saving $25 a month put that aside…

Maybe take a second job and place that money aside..You lived so far on what you make so save all that extra money for a rainy day..What is wrong is people think because they have it it must be spent!

Look around maybe you have tons of stuff? Then sale what you don’t want or need…Use Craigslist.org ,EBay, go to a flea market, have a garage sale, etc…..But be sure to save the money…

Cut the daily expense..Quit smoking, buying coffee/pop out, car pool, pack a lunch for work, or any other thing that money is spent on a daily manner..

How to save money fast can be done anyone of these items or combining them… Please check out some other articles here on Keep Me Off Welfare  Mr Frugal Frank

Why are so many folks so afraid of Frugal and Simple Living? They act like it is a crime… In matter of fact I have a good friend who retired from the state police and teases me about a man who lived in a underground house with no utilities services.. Then tells how they used a fire hose to flush him out…He never told me what the crime was but some how I remind of that man…Always with a slight sinister laugh in his voice… So I’m here to tell you frugal Living is not a crime…Some times people look at you as odd one but the simpler I live the more I’m enjoying life..

Just far back as years ago we needed to net $5000 per month just to break even but with a little planning and a lot of determination we can live on as little as $1500 per month. With-in the next few years the plan is to be able to live on less than $1000 per month (Net)..  Looking back life is much better now than then.. Tons of stress gone and sleeping like a baby most of the time..Even made healthy food choices ,saved money and weight loss at the very same time..Since our transformation into a Frugal and Simple Living the “social shock” hasn’t been all that bad..With that said a wish now I pushed harder and faster to get here where we are today…

It is never to late my friends… My wife and I where at Walmart yesterday and walking by a large screen T V’s with a 42 inch going for a mere $368.00..WOW !  This brought up buying behavior on the way home.. A few people who would see this might buy it even if it cause a short term money crunch…Then the next group will tell themselves NO Way can I spend $368 but find one for a payment of $40 for 36 months because they can afford $40 a month( that would be $1440) Yeah that is a much better deal?? Then the last group would say no way can I afford $50 a month then go to the Rental center and get a great deal of $27.95 per week for 18 months(77.4 weeks)  or only a approximate total of $2163.33 (4.3 weeks In a Month Folks)  But remember there was no way these people could afford $368 ? Looks like $1000 to $2000 more just on a TV set? How can you afford that? This happens all the time.. Just a little planning and a little will power is all it takes… doing without some thing in the short term to get what you want and/or need at a price that is affordable..  Simple! Frugal and Simple Living dosen’t always mean doing without… Maybe giving up eating out this month to get a nice TV ,Versus making payments and grossly over pay..

Not to harp on a subject but the money waste on the electric company.. Leaving things on that aren’t in use..Years ago my daughter insisted on letting a fan run in her window day and night.. I calculated the cost to around $15 per month.. Lots of fighting there till it was follow the rules or no fan..(we even had Whole house AC)… It ended up being no fan needless to say.. Why do we all leave lights on when not in a room? I still fight myself today with this.. Spending up to fifty cents a day for what??  WOW Frugal and Simple Living means not having things turned on that draw electricity when not in use? How rude can this be? I Am a strange man you can see?

It is so very easy to waste money my friends! Frugal and Simple Living  doesn’t mean living like a monk or hermit either..While this New Year 2013 approaches it is a great time to evaluate the way in which you spend your hard earned money..Get the most out of life by getting the most from your money.. Very simple math… Get rid of debt and live free…Do Not  be a slave to a bankster…

Stay tune to Keep Me Off Walfare for more tips on stretching that old money plus maybe even learn how to make more…

Please Keep Safe and Happy, Mr Frugal Frank

It is that Time of year to make them New Year Resolutions.. Whether it is losing weight, quit smoking/drinking, saving money or many other things. Today is Dec 12,2012 suppose to be the last day of the world.. But I fear not my friends we are stuck here on this huge rock known as earth..Today I want to talk about what I have accomplished in 2012  and what I plan to do to improve my financial future/life style..

One thing I did this year is I shopped around and saved about $500 on car insurance..Plus I paid in full when I got it because they charge for a payment plan. Many people tell me they can’t afford to do that but if you can’t save a little how can you spend a extra $100 or per year? Like my friend Emil says all the time “Focus People” …Your Life is about the total of what is spent..If you feel this way a great New Year Resolution is to figure out how to cut spending and save a little money…..This year in 2013 the plan is to double check auto rates to make sure I’m getting the best rate with a good company( Erie ).. The next part is to get a better rate on my homeowner but I need to do about $300 in some minor but important repairs…The savings then should be $200-$300 per year…

The very first thing I’m going to do and maybe as early as next week is to fix my truck…The check engine light is on and the Code(which Auto Zone will run a code check for free).. Says I need a $85.00 O2 sensor…Got prices on getting it done  from $200-$350….I have the ability to do it myself so hopefully over this Christmas week I will get it done.. This is a real shame because  it didn’t get last year at this time because it will increase my Mile Per Gallon (MPG) and have a cost savings of $150/m0nth($1800.00 per year)..Sometime priorities are just put in the wrong place with  factors like the lack  of money or in this case lack of time ( sure bad planning had a part to do with it)… What would you do if $1800 a year was at stake… Then I compare this amount to my net monthly income…If my net income was say $1800 per month then it would be like getting a extra months pay… This is why looking at daily expenses adding up on a yearly view can give a much better way of managing your money…How many places do you think that can do this for you also? Hope many…

Looking around I find the electric bill has been creeping -up the last few years with our usage down a bit but the bill is up because prices are going up..Well In my situation there are a few things to be done.. Since we don’t have natural gas and live out in the country the plan is to convert the stove and clothes dryer into propane… we already 3 years ago change the hot water from electric to propane saving $70 plus a month…  Been reading electric should double in cost over the next four years…This going to about $1000 with a used dryer and a new stove with a savings of about $40 a month at current power cost…The savings over a year is $480… Now the pay back for this investment would be a little over two years… Pay Back is the amount of time it takes to recoup what has been invested by the amount of money save per month..

On the list is Buying a 500 gallon Propane tank outright( Monthly rental charges will kill you)  and then Pre-Pay for the propane on a bulk contract..The cost of this tank is 0-$800 depending if a promotion is going on..

As A hobby but to be practical at the same time a  plan  toward late summer is to build  a little solar farm building my own panels using batteries to store the power and a sine wave power inverter with a cost of $1000 -$2000 to start…Pay-Back will only be $20-$30 per month but living out in the country and having  not power outages from time to time will be priceless..

Last but not least is to do some major insulating to a old part of my house which should cost $2000-$3000 doing the work myself…Just not the savings here will have a  2 year Pay-Back but the comfort it will bring into our home…

While setting these New Year Resolutions I also have a dream list..Things if I find at the right price I will make mine…. Such as a VW TDI car…. New Garage door(used will do)

Stop and ponder on what You can do this New Year coming..Improve You life by getting more out of what you spend.. Onl;y You can make a difference toward financial freedom… Dream my friends and  make it happen…You can do it..

Have A Blessed 2013

Mr Frugal Frank