When we’re being thrifty, we’re not being cheap. Far from it. Being intentional in our spending can bring us much joy and satisfaction.

The notion of being thrifty or frugal is often tied to the idea of being short of cash and needing to conserve one’s limited financial resources. While this is true and makes good sense, the choice of being careful with our spending is available to anyone no matter our financial circumstances.

Being thrifty is considering the cost of an item, but also its quality and potential longevity. In contrast, being cheap is choosing to buy the least expensive item regardless of its quality and ability to last a reasonable length of time.

Being cheap is also choosing to be stingy or unwilling to pay one’s fair share. Being cheap is not admirable and certainly does not make one very likeable.

One aspect of being thrifty is deciding whether it’s necessary or really important to us to purchase a particular item. It’s the consideration of need versus want – and, if it’s a want, determining whether we really want it over a period of time or just wanting it based on a momentary whim. Thrifty people take the time to be thoughtful and logical in making a purchasing decision.

The satisfaction of being thrifty is getting great value for the money we spend on goods or services. I think most people would agree that there are benefits to be had with this mindset.

Choosing to Shop at Sales

Being thrifty can include planning big purchases, such as major appliances and electronics, based on when they typically go on sale. Maybe it’s partaking in “Black Friday” or “Cyber Monday” sales. But it’s also doing research ahead of time to see what brands are reliable, deciding on what features are your “must haves” as opposed to “nice to haves,” and verifying the regular price to ensure the sale price is actually a worthwhile discount and not simply a hyped-up price.

Everyone loves getting a great deal, I would expect. The feeling of “start the car” is hard to beat, at least for a brief feeling of triumph. When you’ve done your research, then you’ll really know when you’ve truly scored.

Special age-related offers

Many retailers, including cinemas, offer discounts to seniors, sometimes on a particular day of the week or month. Why not check this out if you’re of qualifying age? It’s a perk you deserve! Some retailers offer free gifts or extra discounts on a customer’s birthday or during their birthday month, although this seems to be not as common anymore.

Collecting and redeeming loyalty points – they can be equivalent to cash!

Using coupons, discounts, and accumulating (or redeeming) credit card or corporate loyalty points can all help you save money when buying goods or services. However, it’s worthwhile to be aware of the regular price of something or competitors’ prices before you jump at a particular “deal.”

Are you aware of and taking advantage of the accumulated loyalty points you have? Many of us have multiple sources of collecting points that that can be exchanged for discounts or goods including gift cards. It can be easy to forget we have these rewards points that can be cashed in for something we want or need.

Garage Sales, Online “Garage Sales” and Free Neighbourhood Giveaways

I used to go to garage sales regularly with my Mom. It was fun to hunt for treasures and was a thrill when I found something I didn’t know I needed. Or, even better, finding something I did need. And, boy, did we find some great deals.

Online, you can find used goods on sites such as Facebook Marketplace and Kijiji – just to name a couple.

Neighbourhood Buy Nothing Facebook groups are popular; people post items they want to give away to a neighbour. No money exchanged here. To be viewed as a “good” neighbour, you may want to give away your own unwanted items just as often as you express interest in a neighbour’s giveaway. Not a bad way to declutter and get rid of things you no longer need instead of resorting to throwing these items away.

Thrift Shops are Cool – the former “best kept secret” is no longer secret

The current popularity of thrift shops is a wonderful extension of the garage sale mentality:  purchasing used goods to give them a new home and keep them out of the landfill while saving money. It used to be looked down upon to buy or wear second-hand clothes. Now, it’s trendy and savvy. Meanwhile, it helps the planet’s sustainability and is environmentally responsible. I really love frequenting thrift shops. You never know what treasure you may find and the act of “searching” can be a fun pastime. I have a number of girlfriends who enjoy “thrifting,” too. I have found many quality barely worn clothing items that are often designer brands and other goods that are just like new. It’s such a great way to save money.

For book lovers…

If you love to read, you can choose to buy used books at used bookstores, garage sales, online from private sellers, or public library sales. Or you can borrow a book from a friend or family member or from your local public library. Perhaps you have a Little Free Library located in your neighbourhood? The premise is that you can take or leave a book without charge. There is no expectation for you to return a book you take. I am lucky to have one of these “libraries” across the street from my house. I have found many a good book there. Because it’s been so good to me, I want to be good to it. So, I try to return every book I take from it plus supply it with my own books I no longer need.

Have you considered trimming your discretionary expenditures?

You can also be frugal by thinking about where you can trim discretionary expenses. What about making a home-brewed cup of coffee and taking it to work in your reusable hot liquid thermos? Coffee pods, by far, are the most expensive option – unless on sale, of course – for brewing coffee at home. However, you can decide whether they are something that is on your must-have list. Buying individual bottles of water take a toll on the environment (even if they are recycled) and the cost of bottled water is many times greater than city tap water. If the municipal water supply where you live, or the water from the well on your property, is safe, cold water from it put in a BPA-free reusable water bottle is a great option to save money compared to buying bottled water.

Can you save any money on your monthly bills?

To consider where you can lower your monthly bills, you may want to take stock of your internet usage and home video entertainment preferences and then shop around for the best price and service provider for your “must-haves.” Eliminate extraneous services that you pay for but don’t use or enjoy. Of course, sometimes bundling television cable/satellite services can offer savings over making a la carte selections – and promotions come and go. I’ve often found that re-evaluating what I spend for cable/satellite entertainment on a regular basis and negotiating with my service provider can yield a better price, or at least a better service for around the same price as service offerings are always improving with the latest technology. Taking this pro-active step provides some satisfaction knowing we’ve just saved some money or will receive better value for the price we’re paying.

Minimalism, Downsizing and Living Well with Less

To counter the impact of extreme consumerism, the concept of minimalism has gained traction in recent years. Minimalism, as a style or technique, is described in the Merriam-Webster Dictionary as characterized by extreme sparseness and simplicity. The Minimalism lifestyle is simply living with only what you need, so that you can find happiness and freedom in living and not focus on things. This way of living appeals, and may even come very naturally, to many. The benefits of owning less would mean reduced environmental impact (such as less resources used in manufacturing new items and less pollution from the shipping of items), less mental clutter because one would have less items to store, clean, maintain and think about, and less financial outlay.

The prospect of downsizing (also referred to as “right-sizing”) to be able to live in a smaller home is a goal for many. It’s easy to see why:  the financial savings and simpler lifestyle is very appealing, possibly especially to people who have owned the large home with an abundance of possessions for years. They’ve been there, done that. For young people starting out, the option of choosing a minimalist lifestyle (or a modified minimalist lifestyle that you design to meet your needs and desires) is one that can be significantly less costly. Imagine having less items to clean and maintain, freeing up more time to pursue favourite activities and pastimes.

I recently visited one of my girlfriends who is very successful and owns a magnificent waterfront property. Her home is beautifully decorated and is noticeably not crammed with items. What I found astonishing is that she has very little possessions tucked away in the storage areas of her house; and she doesn’t have an off-site storage unit either! It was striking. I’ve never seen that before. I thought Wow, she obviously has everything she needs yet her house is entirely free from needless stored items. I was so impressed. It has inspired me to get cracking on giving away or selling items I have not used in years.

It’s all about choice

The wonderful thing about the idea of being thrifty is that it is a personal choice. You can follow some thrifty tips if you want and not bother with other tips that don’t speak to you.

Maybe the ritual of picking up your favourite cup of coffee in the morning at the local drive-thru is something you wouldn’t want to give up. Why should you if you don’t want to? Having our daily rituals is a pleasure we can enjoy with no questions asked. Likewise, perhaps you would never dream of wearing pre-owned jeans, no matter if they’re the hottest brand. That is perfectly fine. It is your own business. You get to do your own thing without judgement. What makes you happy may not make someone else happy. The converse is true as well. It. Is. All. Okay.

Even though I have more discretionary income now than when I was younger and getting established, I still enjoy choosing to spend my money in a thrifty fashion – with perhaps the occasional splurge on a special occasion. It just leaves me more funds to pay for vacations to destinations I want to visit. This is my choice and may not be at all what someone else would want to do with their extra funds. All of our different choices make the world interesting and vibrant.

There is no right or wrong way in how you choose to spend your discretionary money after your living expenses are covered. It’s your choice! No one has the right to say how you should be spending your money. Sure, they might say something. But, you don’t have to listen.

The point is to enjoy spending your discretionary money in whatever way you choose. Remember that You are the Light of your own Life.