Foolish or Frugal?

Before you buy anything, ask yourself a simple question: “Is this something I need or something I want?” If it is a “want”—something that would be nice to have—then you may want to put the CD, pair of shoes or any other unnecessary purchase back on the shelf and walk away.

Saying “no” can be tough, especially when those around you are constantly keeping up with the latest in technology or the newest trend. But learning to spend money wisely is important.

Being a frugal shopper can be fun!

Spending on a Whim

Questioning your reasons for purchasing something is another way to thwart needlessly spending your hard-earned money.

Often, people enter stores with money to spend, but without an exact item in mind. They walk in and buy whatever catches their eye.

Emotions play a substantial role in this. A stressful day at school or work often leads to the mindset that buying something will “make it all better.” Some people shop when they feel bored or a little “blue.” Conversely, some do the opposite: After receiving an “A” on a test or experiencing some other success, they feel the need to buy a reward.

This is called emotional spending. While buying something may seem to cheer you up in the short term, ultimately the feelings do not last and the price on the tag is not worth it. If you learn to question your motives and emotions each time you are about to make a purchase, then you are well on your way to being a frugal shopper.

Understand that this article is not an attempt to take enjoyment out of your life. There is nothing wrong with having nice things. However, you can have too much of a good thing. Just as you should watch how much food you eat and make certain what you wear is appropriate, moderation must be applied to how you spend your money.

God wants us to have a fun, healthy, happy life: “I am come that they might have life, and they might have it more abundantly” (John 10:10).

But a balance must be struck. You must know the difference between “needs” and “wants”—necessity and excess. Learn to spend on priorities—not impulses.

Know What You’re Getting

Suppose you have found a genuine need. Where should you go from there?

God is a God of quality. Well-made products last longer, even though you may have to save a little while before you can purchase them. A good principle is to buy the best quality you can afford.

However, this does not mean you should buy things that are outside your means. A balance must be found between finding the best quality and staying within your budget. After looking over how much you can spend, you are ready to begin shopping.

It is good to take the time to look for the best deal. This allows you to make a wise decision and get the most for your money. There are several ways to research the best price and quality.

Visiting several stores around the area you live will give you a good idea of selection and price ranges. Consider writing these items down so you can compare prices effectively.

There is a lot you can do using the Internet. This is a great resource for finding the best products, giving you the most for your money. By looking at reports and reviews of other consumers (people who already own what you are considering), you can avoid poorly made products and find the best quality.

Researching on the Internet will also help you know what to look for in any given product. When arriving at the store, you can make a knowledgeable decision. Ask many questions. The employees are there to help. Don’t be shy!

In the Sunday paper, there is usually a large section of coupons. Most people simply throw these out or skip straight to the comics. But a quick glance through these can help you to save money. Pull out your scissors and clip out the coupons that could benefit you or your family. Some of the savings may seem small, but they really do add up!

Your local library is another place to save. If you are thinking of buying a book, CD or movie, the library can be a place to check it out and “take it for a test drive.” By doing this you can know if it is truly worth owning.

Most books you will read only once. By using the library, you can do so for free. If you would like to read a book again, you can always check it out again. Libraries usually have a large selection; as long as the materials are returned on time, they will not cost a single penny.

Here a Penny, There a Penny

As you begin to save money, by being a thrifty shopper, you may discover a new “problem.” Extra money! What should be done with it all? It is tempting to simply spend to your heart’s content. But if you are truly pennywise, there are other things to consider.

Having cash on hand can make it disappear quickly. By spending a little here and a little there on small purchases, the money you have saved can diminish rapidly.

A simple solution to this problem is to open a bank account. With a savings account, your hard-earned money will keep working for you by gaining interest with time. Bank accounts also help you to keep track of your spending habits, as well as keep cash from being readily available, helping you to avoid spending it. When you find something that is worth buying, the money is there to withdraw. (Bank accounts also allow you to keep better track of your first and second tithe.)

Frugal Shoppers Unite!

Finding the best deals can become a hobby of sorts and, after time, a basic principle in life. In keeping an eye open for the best prices, you will be able to inform others about some of the great deals you find. Most in the Church appreciate a good sale and will be thankful for the “scoop.” They may even return the favor and let you in on sales and low prices they find.

Parents and other adults have much more experience in matters of finance. In their lifetime, they have made both good choices and bad, and they can help you make well-informed decisions. Pepper them with questions about finances. More importantly, listen to their responses—learn from their past successes and mistakes!

Be honest with yourself when it comes to true priorities. Again, before you buy anything, ask yourself if the item is truly needed. This will allow you to save for times when there is a pressing need.

When you do buy, be a well-informed shopper. Wisely seek out the top value in your price range.

By keeping an eye on your finances while still young, you can avoid bad habits into which many fall. Being aware of where you spend your money now will help prevent the troubles that come with foolish spending later in life.

Be diligent—becoming a frugal shopper will not happen overnight. However, with a little effort, the benefits will last a lifetime!