Raises are so nice, aren’t they? What an exciting day when you hear that your monthly income is going to go up a notch or two.
But, why are you waiting on your boss to make it happen? You can give yourself a raise right now but you do it by cutting costs instead of raising income. Kristen Hagopian reminds us in her new book Brilliant Frugal Living that you can drastically cut food and clothing costs without sacrificing quality if you are willing to spend some focused time getting to know your local gourmet thrift grocers and second-hand clothing outlets.
“The average family in American spends $800 per month on food. You can do it for $300 which gives you an automatic $6,000 after tax raise each the year,” says Kristen who lives by the rules she shares. Leaving a corporate job to raise her two children, Kristen learned quickly how to save money and still have the life she and her husband wanted on a fraction of the price.
“I grew up in a frugal household but I had everything I needed. When I became a teenager I realized that my parents were both really good with money,” says Kristen who reminds people to cut back on Christmas because the family moments matter so much more than the stuff. She says that she sees reasonable women get misty eyed when she tells them to cut back on Christmas but when you ask someone what they remember about holidays of their youth, it’s not what they got but the memories they made.
In addition to keeping a close eye on local thrift stores and garage sales, Kristen also uses modern technology and the convenience of websites like Craigslist and Ebay to get the best prices on her purchases. She also strongly encourages eating at home and limiting those impulse fast food trips when, in a hurry, you can mix it up with pasta, sauce and various meats pretty quickly and frugally without compromising taste or variety for a pennies on the dollar.
“You hear the saying that you deserve the best but you also deserve money in the bank. You can have it all and have financial peace of mind too.” People don’t take the time to research their options. Having it all does not mean spending when you feel like it. It means enjoying true freedom from credit card debt and having family time that everyone will remember versus being on the run and feeling like you aren’t in control of your spending. Kristen finds great bargains on incredibly expensive brands all the time at her local Good Will. She shares that you don’t even have to sacrifice wearing brand names if you are willing to be patient and watch for the best prices.
In her new book Brilliant Frugal Living, which is also the name of her website BrilliantFrugalLiving.com, Kristen shares a variety of ways they have saved enough money to completely cover the $50,000 they lost when she quit working. You can hear about her journey and learn solid tips on saving hundreds or perhaps thousands in several upcoming workshops coming up along the Main Line. Her website lists the dates and contact information.
FRUGAL TEST: Do you write down your expenses? Can you feed your family on $300 this coming month? As Kristen suggests, try writing down everything and circling the luxuries you are going to cut. If you can’t manage it online, do the classic envelope method for grocery shopping and hold yourself accountable so you still have cash left at the end of the month. Let’s do it together!
