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Rediscovering My Frugality: How Am I Doing?

June 11, 2012

About two months ago (wow, time is flying!) I wrote a post about needing to rediscover my frugality. Somewhere along the way, I started to lose my frugal habits. Call it frugal fatigue or just plain laziness, but I made it a goal to cut way back in certain areas. I thought I’d write a follow-up post to reflect on how it’s been going.

Back in April, I decided to cut out:

1. My favorite coffee – PASS! This one wasn’t even that hard. As I mentioned in the original post, Folger’s is just fine for now.

2. Pedicures – PASS! I haven’t gotten a pedicure in almost three months. Admittedly, this has required a lot of self-restraint. But I’ve been doing my own toes…and doing a pretty good job, if I do say so myself!

3. Books – PASS! But this one is a little deceptive – I have been so busy in the past two months that I’ve barely had time to read. But I’m currently waiting for a few books to become available at the library, so once summer hits, I’m going to get back into the swing of reading every day.

4. Wine that costs more than $5 per bottle – PASS (mostly). I haven’t been keeping as tight a watch on this one as I have on the others, but I do know that I’ve been actively seeking out good, cheap bottles. A few $6-$8 bottles have probably slipped into my cart from time to time, but the point is that I’ve significantly cut back on my alcohol spending.

It looks like I’ve done a pretty decent job reigning in my spending recently. I’m still not as frugal as I should be, though. So I have a few other areas I’d like to trim back in the next couple of months. Since the first few went so well, I decided to make these a little tougher. Here’s what I’m thinking:

1. Cut my cable bill

About 8 months ago I cut my cable bill down and was eligible for free HBO for six months…well, those deals have now expired. The bad news is that I’m now addicted to HBO, so I’m going to see if Comcast will work with me to get me on another promotion. My goal is to keep cable and Internet – with HBO – to around $80 per month.

2. Do a better job seeking out meal specials and happy hours

I don’t eat out nearly as often as I used to, but when I do I should be trying harder to get the best deal possible. Especially with Groupon Now! and Restaurant.com, there’s really no reason to pay full price for a meal.

3. Go back to using cheaper beauty products

In the past year or so, I’ve gotten accustomed to using some pretty pricey beauty products. Some are worth it (my Clinique foundation) and some aren’t (Dior mascara). I’m going to scale back on my beauty spending as each of my products runs out. My goal is to find good drug store options for every product I use, from face wash to lip gloss. In a few months, when I’ve done some experimenting, maybe I’ll write up a post about all my favorites!

How’s your frugality looking these days? What’s working for you? What isn’t? As always, I’m open to as many tips as you’re willing to share!

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I am NOT a financial professional, and any advice, thoughts, or comments shared on this blog should be taken only after careful consideration by the reader and consultation with her financial adviser.

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