Taz Bright helms this series. Taz is a father, speaker, long-time business owner and graduate of the school of hard-knocks. Taz uses his past business and personal finance experience to help steer others in a positive financial direction while, hopefully, avoiding the mistakes he’s made along the way. As a former 6-year victim of Identity Theft, Taz shares unique lessons learned while trying to regain his financial footing. Taz is a member of Toastmasters International, a martial artist, former bodyguard and a CrossFit athlete. As the owner of Bright Balance Ministries, Taz’s goal is to help as many people as possible reach long-term, solid financial stability.
Doing so allows you to keep a higher percentage of your paycheck; therefore, allowing more for paying off debt, saving, and investing. How do you accomplish frugal spending?
First, pawn shops. These stores are very underrated. My wife and I frequently shop at a pawn shop next to our apartment. Since we both love buying movies we were thrilled that this shop sells DVDs & blu-rays for less than $5. We can buy three movies for the price of one brand new movie at popular store chains.
The movies haven’t been shortened, altered, or otherwise made any less great just because they are priced lower than their brand-new counterparts. Also, we love knowing we are getting the most bang for our hard-earned bucks.
Second, thrift stores. Along with pawn shops, these stores are a great resource for clothing, furniture, electronics, and power tools. There is a thrift store in my neighborhood where I can buy a jacket, tie, slacks, and dress shirt for less than $5. Yes, all those items for less than $5!
You may be thinking these items may be off brand, unimpressive rags that I would not wear in public. You would be wrong. I’m talking about brands like Perry Ellis, Liz Claiborne, and many others. Of course, off brands are also available. However, if you are dedicated to living frugally, the brand’s name should not matter at all.
Thrift: noun \’thrift\ prudent use of money and good: the sensible and cautious management of money and good in order to waste as little as possible and obtain maximum value.
Imagine that you have $50 set aside for clothes. You can go to a famous chain store and purchase one, maybe two outfits. Conversely, you can go to a thrift store and spend $10 for similar items. That is the art of Frugal Shopping! And of course you cannot get any more frugal than free.
I like to browse the free section of Craigslist every now and then. Over the years I have acquired things like glass shelves, vases, a mattress, indoor plants, clothes, shoes, couches, a TV, and many more. It would be difficult to add up the monetary savings I have achieved over the years. Also, the barter section of craigslist is very helpful. Why not exchange something you are willing to get rid of something you want or need? Bartering allows you to acquire items without taking away from your bank account to do so.
If you want to keep more of your paycheck and become a frugal shopper, the first step is to search for thrift stores and pawn shops in your area; and pay them a visit. Happy, frugal shopping!