Celebrate Penny Pinchers

This weekend’s International Frugal Fun Day is the perfect time to offer money-saving tips to your members.

 
 

It’s no secret that Americans are notoriously bad at saving money. Saving always gets pushed to the back of most people’s priority list. It’s always a good idea for you and your members to save for a rainy day, and what better day to start than tomorrow’s International Frugal Fun Day?

Although Saturday is most likely the day when many people splurge and relax after a long work week, try and help your members make this Saturday different. Here are some frugal-friendly tips to help members boost savings:

  • Create a budget. One tip for Frugal Fun Day that can last much longer than this weekend is to create a budget. It is amazing how many people do not know where they spend their money. Sit down with a few months worth of bank or credit card statements and make a list of your spending. I’m willing to bet you could find multiple areas that you could cut back on. It may take a few months to work out the kinks in your budget, but without one, you may never reach your financial goals.
  • Eat-in this weekend. It’s always more appealing to have someone else do the cooking. And eating out means no dishes to wash either. But glance at how much you spend on food and you might be surprised. Eating in can be creative, healthy and fun all while saving you money. As an added bonus, try to take one day a week and refrain from buying any food. Pack your lunch, cook your own dinner, and skip the Starbucks latte. Over time you’ll be amazed at the amount of money this can save without significantly changing your lifestyle.
  • Find your nearest Redbox. Instead of spending $15 on one movie ticket to see the newest box office film, rent a movie from Redbox. Their movies are typically $1 per night and they offer a wide selection of movies recently released on DVD. This simple solution can still provide entertainment on a Saturday night while beefing up your savings account.
  • Check out your local library. Libraries may seem like a thing of the past to most people, but they are a great place to help boost your savings today. How many books have you purchased that are now collecting dust on your bookshelf? You will probably discover many interesting books you didn’t even know were out there. Libraries also offer CDs and movies and TV shows on DVD as well.
  • Don’t be fooled by “bargains.” If you absolutely must go shopping on Frugal Fun Day, at least try not to fall for the “bargains” out there. When you are at the grocery store, saving 50 cents on an item you had no intention of purchasing in the first place isn’t going to help you save money. If you’re at the mall, you will most likely see the “buy one, get one-half off” sales. If you don’t need two of that item, saving 50% doesn’t make sense. Try going to the store with a list of items you absolutely need and stick to that.
 
 

Oct. 5, 2012


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