The Most Un-Frugal Behavior: Procrastination

 

Waiting in a long line because you didn't anticipate the large crowd is one thing, but procrastinating purchases is another. If you are unaware that your stockpile is getting low on dog food, or toilet paper - it will cost you more money to get the products you need. If you are planning an overseas trip and need a special cell phone or plan to be able to use your phone in Europe; procrastinating will cost you inconvenience and possibly more money for your International minutes. If you need new glasses before that trip and don't plan your new eye exam and ordering inexpensive glasses online; you'll pay hundreds of dollars more for a pair of eye glasses at the local eye glass store.

All these are examples of how procrastinating can cost you money. It's a smart and frugal behavior to anticipate your needs for replacing or acquiring a product. This way you can watch for a sale, visit online sites and set up alerts for sales, and watch for coupons at vendors you may use.

As for your stockpile inventory at home, never take the last of an item from your shelves without putting that item on your next shopping list. I actually have a threshold level of some things like paper towels (like 10 left) where I'll add it to my grocery tracker app and start looking for deals. Remember, some sales cycles are 12 weeks long, and if an item was just on sale it might not be again for a few months.

Now, I've got to check my stockpile...

What Can You Learn From Ted Williams? (The Guy With the Golden Voice)

What can you learn from Ted William's sudden fame?

Ted Williams shot to fame when his interview went on YouTube. The interview was made at the time when he was homeless and used to ask for donations at a bus stand with a board in his hand and his recorded voice asking for donations. The interview became so famous that lots of job offers landed in his lap. Even NBA has asked him to join. There are a lot of financial lessons one can learn from his sudden shot to fame. This is true that happiness as well as misery is not permanent and it depends upon you to have a determination in life to change your misery into happiness. You need to have a good savings plan so that you can tackle any financial shortcoming.

Frugal lessons worth learning from Ted Williams' story
There are a lot of times in life when you feel confused about the debts you have and how to get out of financial misery. There are a lot of people who have a lot of money and don't know what they can do with it. You can also win sudden lottery and may not know what to purchase first. You must have a clear vision of everything so that you don't get greedy and lose everything in the process. Take a look at the financial lessons you can learn from Ted Williams' story:

1. Clear about what you want

You must be clear about you want from life. There may be times in life when you may get confused about the different things that may land into your lap. If you get confused about the job offers or other financial things you get, you must prioritize the things and choose the ones that match your needs. If you have a lot of job offers, you may try to go for those interviews that solve your purpose and recognizes for your caliber and whet you can do. If you have a lot of debts, you must pay the ones with the largest interest rates first while paying your other debts minimally. This clear vision of yours can really help you reach the goal you've set for yourself. 

2. Put a stop to reckless spending

You may be a millionaire or a pauper. But if you earn $5, you must try to save $3 and spend $2. This is smart financing and if you're smart with money, you can reach anywhere you want. At least, you'll not have debts to pay off. Money doesn't take time to get over and once it's over you need to think of other ways to secure your future. You need to draw a line between "wants" and "needs". If you know the difference between the two, you'll be able to save money. Try to consult your family before purchasing any big thing so that you know if others are ready for it. When you get a check, try to save most of it. Don't spend any money till the time you get the check in your hands. Try to work out a budget and include your kids too in the budget formation so that they can learn to be money responsible. 

3. Get experts advice

This is another way you can manage your finances. If you are confused about the money you want to save and the amount you need to spend, you can seek financial advice from your experts or elders so that you don't fall into debts. Try to put all your problems in front of them so that they can give you the required advice on the ways to manage your money. When Ted Williams was asked about the jobs he would choose, he said that he'll seek help of a therapist and would focus only on few offers. He also wanted to solve his previous financial problems so that he wouldn't make the same mistakes again. 

4. Invest apart from savings

If you have a savings account and want to grow our money more, you can go for investment options so that you can have a safe and secured future. Look for lucrative investments so that you can get better returns. Start small and don't get greedy in the process. You must also lead an honest life and pay your taxes on time. Keep away some money for emergencies so that you don't have to break your investments. Try to seek experts' advice when you're going for investments so that you know which ones suit you the most.  

Apart from the financial tips and lessons given above, you must take things slow in your life. If you have any problems in life, try to tackle it smartly and never get carried away. Manage the money you earn and have so that your future doesn't get into debts.

Author's Bio : RP is a guest writer for various finance related Communities including CDFA, FCB, Debt Consolidation Care etc. She is a PG degree holder in Marketing and Finance and right now working in a reputed bank as a relationship manager. She is well equipped to write articles on debt consolidation , debt settlement, frugality, savings, economies of states etc.