Living A Frugal Life

If you're not yet familiar with the Stayfitnactive brand, we don't specifically focus on physical health. Instead, our emphasis is on public health and wellness. When you think about the aspects of your life that contribute to your overall well-being, which categories come to mind?

You might have considered your physical, mental, spiritual, AND financial health. A change in one can greatly affect the others. That's why Stayfitnactive offers resources to help you enhance your life in all these areas, as they are all crucially important. I want you to think about how your financial health has impacted you. We have all heard the phrase "Money doesn't buy happiness." This statement applies to those that are fortunate enough to have their basic needs met. These individuals earn sufficient income to pay for rent, bills, groceries, and medical care. They might even a little extra to invest, travel, have experiences, and help a neighbor. For THOSE people, we can apply that statement. However, when you are in survival mode, money undeniably buys happiness because it is literally buying you safety and aiding in survival. How would money not bring happiness for an individual that went from wondering what they'll eat tomorrow to now having enough to eat every day? When your basic needs are not met, stress levels soar, you must work more to earn more, you're at a higher risk for disease and health concerns. It is no longer solely about your financial health; your physical, mental, and spiritual health are at risk as well. For this reason, my mission is to ensure you are in a secure place financially, and I will do this by sharing with you some ways you can live a frugal life. My approach will differ from what you may be accustomed to hearing. This will not geared towards "How To Take Advantage of The Best Deals". Instead, I will highlight the things to AVOID that are secretly causing you to spend more money than you otherwise would. Let's begin.

BOGO Deals

More like "Oh No Deals".

You may think you're getting a bargain, but you're not. Let me explain. You need a new pair of shoes. One pair. After researching, you've decided to spend $50 on them. You go to the store to make the purchase and discover they have a buy one, get one 50% off offer. Now, you can get two pairs of shoes for $75, or $37.50 each. Sounds like a great deal, right? Wrong. Are you saving $25, or are you spending an extra $25? This deal is only beneficial if: A) the sale is buy one, get one FREE, because then you're still spending only $50 but getting two pairs, or B) you initially planned to buy two pairs for $100, and this offer reduces the amount you were going to spend. Anytime you leave a store having spent more money than you planned, you haven't won - the store has. This adds up, and it's not how we live frugally.

The "Cheaper" Option

Often, when you ask an associate for assistance and they suggest a product, it’s typically not the one they truly want you to purchase. If you do buy it, it might surprise them, but this is known as the “decoy” product, which is intended to lead you to the item they actually want to sell. The initial product they present is usually very expensive, perhaps around $300, making it unlikely you'd consider buying it. When you decline, they’ll suggest an alternative, perhaps priced at $150. Suddenly, this option appears more affordable, but compared to what? The $300 product they initially showed you. So, you agree, even though it's still beyond your budget, and there's an even cheaper $75 option they didn't mention. So, did you really benefit, or were you duped? Think about that.

Know how much money you want to spend and do not stray too far from it.

Set It & Forget It

Imagine this: You're starting a new chapter on your own; new home, new phone bill, new everything. As you call around to set up internet service for your new place, one company offers a "new client 12-month promotional deal." Typically, the internet costs $80/month, but for the next 12 months, you can get it for $40/month. Quite the bargain. They also offer you an additional $5 discount if you set up auto-pay. You might wonder, "Why give me another discount just for setting up auto-pay, especially since missing a payment incurs a fee?" Let me explain. Fast forward one year. For 12 months, this $35 payment has been automatically deducted from your bank account. You don't check it. Why would you? You know it's being withdrawn. However, in the 13th month, you're charged $80. Did you notice? One would hope so, but not the internet company. They actually hope you DIDN'T notice since you've been mindlessly auto-paying this bill for a year. It's possible another 6 months could pass with you paying $80 before you realize it! If you had been making payments manually each month, you would have noticed and could have addressed it. I'm not saying don't take advantage of deals or auto-pay. What I AM saying is, when you sign up for these deals, set a calendar reminder to either cancel or renegotiate BEFORE your bill increases. This advice applies to any long-term commitments you make; gym memberships, phone bills, loans, etc, as these are additional expenses that can hinder your frugality.

The Credit Limit

Eliminate the urge to max out your credit limit. Considering I am not talking about your everyday credit card, allow me to elaborate. You are in the market for a new TV. Best buy had.. the best buy 😉. A $300 TV. It's the last thing you need to make your new home complete. You walk confidently into Best Buy to purchase this TV and discover they are offering a 12-month, no interest deal right now on purchases $299 and above for anyone that is approved for the Best Buy credit card. You were originally going to put the purchase on the credit card you already have, but 12-months no interest? A much better deal. You apply and are approved for $2,000. The salesperson says "Hey, you were approved for $2,000. This TV is only $300, would you like to throw in the blueray DVD player, new speakers, and a small entertainment stand? You'll still get 12-months to pay it all off." You say "Heck yeah! One year to pay all of that off, with no interest? That's a good deal" For who? Certaintly not for you. You walked in there to spend $300 and left spending close to $2,000. The only time this is a good deal is if you already had the intentions on buying all of that and this deal made it more convenient for you.

Rounding Up Donations

Listen, I'm all about giving back. I firmly believe that this is how we keep money circulating. We don't hoard it, nor do we give it all away; instead, we maintain a healthy balance of giving and receiving. Donate your time, and if you lack the time, donate your money to a place of YOUR choosing. Most of the time, you don't even know what you're donating to or supporting; you just agree. However, that $0.50 donation, ten times a month, amounts to about $5 you could be saving or investing. Again, this isn't about being selfish; it's about making you aware of the psychological obligation you feel to donate. Nine times out of ten, you're not donating out of nobility. You're donating because you don't want to appear like a jerk, which actually makes you more of a jerk because you are concerned about your image rather than doing something from the kindness of your heart.

The “Free” Item

How often have you placed the 3 items you needed in your cart, only for a message to appear saying, "Spend $15 more and get this for free!"? Suddenly, you're searching for something additional to purchase just to qualify for the free offer. The issue is, you didn't need it, and now you're spending extra. This is only truly advantageous when:

1. The items you intended to buy already total the amount required to receive a free item. That's a bonus perk!

2. The free item is something you genuinely wanted, and its value far exceeds the additional amount you need to spend.

I hope these few items shined a little light on some areas in your life that needed attention. We can't pull money out of thin air, but we CAN be mindful about how we are spending the money we do have. Pour that money into yourself.