10 Tips To Frugal Living in 2011

Here are some great tips to live more frugally in 2011:

1. Be aware: Consumers often fail to open their eyes when spending. Be aware of package deals, low-cost items, and generics that offer virtually the same product. Take advantage of reward programs on necessary purchases such as groceries, or gasoline.
   
2. Ask Yourself, Do I Really Need This?: Living frugally correlates to living within your means. Focus on your needs and not your wants. Sometimes it can be easy to take for granted what we have; be comfortable with what you already have.
   
3. Avoid Racking Up Credit Card Debt: Do not spend more than you have. Although this may seem too easy to grasp, consumers often spend more than they can afford - banking on the hope of future income. Do not take these risks.
4. Be Confident: We can often experience post-purchase anxiety and second guess ourselves after a purchase. Be confident in your consumer decision making process. Do not be afraid to cut coupons or buy the low-end brand. There are few differences between  bottom and top shelf products. 
5. Invest In Your Future: With the government artificially stimulating the economy through Quantitative Easing 2, or 'QE2', equity markets are likely to stay stable or rise in the next year.
6. Start Saving: Many banks are offering programs that encourage saving. U.S. Bank's S.T.A.R.T. program is one example. Put away 15-20% of your income if possible. Options include Roth IRAs, 401(k)'s, or a general investment portfolio.
7. Exercise: You may be asking yourself, how does exercise relate to frugal living? Exercising on a regular basis will put you in a better state of mental health and consequently allow for better choices and confidence with your money.
8. Avoid Eating Out: Depending on family size, wholesale grocers such as Sams Club or Costco can be a wise choice to buy in bulk and save on quantity. Nonetheless, eating at home can not only encourage better eating habits, it can also help in reducing the cost of living. Many eat out because of convenience and timeliness; do not fall into this habit.
9. SlickDeals.net: This 'deal' website will help you save money on anything from a pair of shoes, to a new laptop. Other frugal aspects of this site include a 'Freebie' section and a 'Survey' section. Check out the site at www.slickdeals.net
   
10. Drop Your Cable Plan: Many websites and online companies offer free television shows, such as www.Hulu.com, or simply ABC, NBC, CBS, and their respective sites. Cable not only encourages laziness, but can hinder your monthly expenses. You will notice a greater self-connection and find other ways to enjoy your time.