Say What?Barbara Corcoran, "Shark Tank's" "Queen of New York's real estate scene", recently caused a buzz on Instagram. She boldly claimed that, despite interest rates hitting a 23-year high and
Money-Saving Tips From the Frugal Wealthy
Dated: May 15 2023
Views: 2
Money-Saving Tips From the Frugal Wealthy
In a recent survey of young professionals who want to be financially independent and retire early, people with average incomes of over $225,000 shared some personal, if quirky, tips on how they cut expenses.
- Check Craigslist, Buy Nothing or Offer-Up First – Don’t pay full price for tools or other needed household goods. You can often find just what you need for free or nearly free at these regional or local websites.
- Go Big on Yard Sales and Thrifting – Hunt yard sales, department store sales and thrift store racks for high-quality, gently used brands you can buy for a steal, whether they suit you or not. When you’ve gathered a bundle, take those branded clothes, purses and shoes to a high-end thrift store for credit, and use that credit to ‘purchase’ whatever you like.
- Buy Lab-Grown Diamonds – Moissanite, a lab-grown diamond alternative, are said to look just as good and sometimes better than the real thing. A 1.5 carat stone costs around $550 instead of up to $25,000 for a good-quality diamond, and it looks just as good in a custom setting.
- Buy Produce Past its Prime – Fresh produce is expensive, but most markets sell big bags of well-ripened fruits and veggies at rock-bottom prices. Mash overripe bananas and berries for fruit bread and/or slice them up and freeze them for smoothies. Pull off the damaged outer leaves of lettuce and celery and use less than perfect veggies in soups and stews.
- Don’t Buy the Latest Model Phone – That $1,000 model will cost $300 in three years. It will still be an improvement over what you’re currently using, and staying three years behind is a clever way to save money.
- Share the Entrée – If you frequently dine with the same partner, share the meal and choose an appetizer. It’s a good way to save, especially if you tend not to finish your entrée anyway.
- Collect Rainwater – Get an extra trash can and use collected rainwater for garden use instead of turning on the tap and paying for water. This is a feel-good bonus for people who live in drought-plagued areas.
- Order Groceries for Pick-Up – You can save plenty by avoiding impulse purchases while you are cruising the grocery aisles, and if your partner has
Rob LaBrecque
Rob LaBrecque helps Southern New Hampshire homeowners make smarter selling decisions. Drawing on more than 25 years of engineering, technical sales, and executive leadership experience with IBM, Renes....
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