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6 Extremely Frugal Methods of Saving Money

I came across another Yahoo Finance article that made me smile, 6 Extreme Ways to Go Frugal and Save.  I smile because I know at least half my readers already do one or more things on this list and will question the use of the word “extreme”.  :-)

Without further ado, here’s what they consider extreme ways of saving major money:

1.  Get Rid of Your Car
2.  Take In a Renter or Boarder
3.  Downsize Your Home
4.  Change How You Use Credit Card
– specifically they advocate using cash instead
5.  Only Use Coupons or Go Generic
6.  Dump High-Tech Toys

Mr. BFS and I won’t be a one-car household, but I know some of you are already getting by on one car.  We also will never be cash only, but I also know a few of you are.

We have rented out our spare bedroom, bought an affordable home, don’t carry credit card balances forward, use some coupons and buy some generics, and shy away from some high-tech toys that will drain our accounts.  Ooh – watch out – extreme Crystal is flying through.  :-)

Even though we don’t match every point on the list, I can’t help giggling just a bit.  Since when is the idea of not having credit card debt extreme?  Coupons?  Oh, please…

So my extremely frugal readers, did any of the items on this list just blow you away?

So far, I’ve come up with these extremely frugal tips:

1.  Resist the urge to bathe in champagne.
2.  Do not use 100 dollar bills as a fire starter…repeat after me, “My cash is not kindling.”
3.  Don’t bedazzle your cell phone cover with real diamonds.
4.  Take “an island of my own” off your Christmas list.
5.  Please don’t cash in your 401(k) to buy that castle you’ve been eyeing in Ireland.
6.  Don’t buy a $600,000 dog:-)

Come on, what have I missed?

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33 comments to 6 Extremely Frugal Methods of Saving Money

  • Even if it’s a really good deal because Nicholas Cage is offering a short-sale? It’s a once in a lifetime opportunity!

  • If you buy a paper log roller, you can turn the 100 dollar bills into actual fuel, not just kindling. Then, you can use $10,000 logs to heat your champagne bath. Champagne baths are frugal, because they are pre-bubbled, saving you that expensive bottle of bubble-bath.

  • More shocking advice from Yahoo Finance! I guess I am an extremist, although I will never give up my car.

    You don’t have a boarder now, do you?

    It is good I read this early in the day as I was just about to take my champagne bath… :)

  • BFS

    @Nicole, that’s hilarious because I was thinking about Nicholas Cage when i wrote that! :-)

    @Jason, hehehehe…pre-bubbled…

    @Everyday Tips, neither will I…even if it is a piece of crap. :-) Nope, we’ve been roommate free for about a year now. Don’t let me keep you from the champagne pre-bubbles!

  • I didn’t see anything on the list that was extreme, except for going car free. And even that depends on where you live. Living car free in Portland would hardly be considered extreme.

  • BFS

    @Young Mogul, I agree. Being car free living in a suburb of Houston, TX would be hard, but being car free in Holland was super simple when we lived there (great bus schedules and routes)…

  • I’m glad to say not one of their 6 blew me away! I guess if we were extremely rich, those tips identified would be extremely frugal…

    I’m not sure I’m adequately trained to start a fire without using a $100 bill?!? How?… Okay, at least let me try the chant “My cash is not Kind” (lol) I tried… I can’t do it! Cash will always be used for kindling in my house!!! :D

    Now I’m off to see who compiled that extremely lame frugal yahoo list!

  • You mean to say I can’t buy that island in the South Pacific? It sure would be a nice complement to my suburban Chicago dwelling:)

    Didn’t some entertainer get an iphone encased in diamonds? That might be more whacked than a 600,000 dog!

  • BFS

    @Money Reasons, hahaha…that’s some expensive winter fires in the MR household…

    @Squirrelers, I’m just saying that buying the island in the South Pacific would not be considered frugal…feel free to do it anyway! And then invite me…

    I hadn’t heard of a diamond-encrusted Iphone – that would be the silliest thing ever since they’re just going to want to upgrade in another year anyway… :-)

  • Those 6 tips sound amazingly simplistic! I think I like yours more. ;) I’d also add don’t mortgage the house for that Ferrari and skip the purchase of a private jet (use points instead towards business class!)

  • BFS

    @Little House, business class could be the frugal idea for all first class flyer readers right now…

  • I was considering going to one car and a motorcycle (my wife would get the car) but we decided to wait until next spring with winter approaching all too quickly. Too bad we don’t live in Texas…right BFS?

    Downsize your home? Really? We already live in a 1,000 sq. ft home!

  • Jenna

    Commission a gold exact replica of yourself and your $600,000 dog statue. You know, for the entry way in your new castle in Ireland…

  • BFS

    @Rob, we have the temperature to ride motorcycles year ’round, but I doubt you’d enjoy hurricane season much… :-)

    @Jenna, NICE! Yes, I totally want a gold statue of me and my husband and little hematite replicas of my dogs (I like the look of hematite more, but it would be pretty hard to craft into dog replicas…) :-)

  • Jenna

    @BFS – Is there such a thing as black gold? Because if there is THAT is what you should use in your new castle!

  • Isn’t black gold another word for oil?

  • BFS

    @Jenna, I was actually thinking about platinum… :-)

    @Nicole, I’ll do the statues in platinum and then cover them in black gold…it’ll be like a homage to the Beverly Hillbillies…

  • ODWO

    Well, if I buy the $500K dog vs. the one for $600K, doesn’t that mean I just made $100,000? Hot Dog!!

    $600K dog = very expensive compost. Talk about money to burn …

  • BFS

    @ODWO, yes, the $500k dog is definitely the extremely frugal option! :-)

  • BFS,
    Hahaha. I love good satire. Question: Will my diamond bedazzled cell phone lose much value if I drop it in the toilet like I did my last one?

  • Better question: Does the replacement plan cover diamond-bedazzled cell phones?

  • BFS

    @Joe, have you really done this too!!! Four years ago, I was walking from our living room to our bedroom (which means I had to go through the bathroom) and my phone jumped right out of my hand and make a perfect 3 point no-touch shot into our toilet! I grabbed it out as fast as I could and it dried out the next day – I was able to use it for another year and a half before I upgraded to my current one…

    Yes, I do believe the cell would lose its orginal $50 value if it was soaked, but no fear, you could still sell the diamonds (once washed of course)… ;-)

    @Jason, it’s not frugal to buy replacement plans…that extra cost would just be too much…

  • BillV

    If I buy that island, but take in a boarder, does that count as being semi-frugal?

  • BFS

    @BillV, heck, by taking on the boarder, you just earned yourself another island buddy! :-)

  • Getting rid of your car can really save money and force you to get in shape. I spent a summer without a car and saved hundreds of dollars and walked several miles every day.

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