It is now 6 months after you’ve graduated and your student loan payments are about to kick in.You’ve been dreading it for months and the repayments loom in your future.
You know that you have to either make more money or cut expenses but aren’t sure how to finesse it so that you’re not forever apologizing to your friends for not having enough money as you try to: pay off your loans, save money, or just stay afloat financially.
Here are a few suggestions on how to live frugally without it being a pain to you and everyone else.
- Free is your friend! Take the time to scout out awesome free events that occur in your city. Check out publications such as: Westword, your city’s library website, and the local newspaper. Examples of these events in my hometown of Denver include: the Cruiser Ride every Wednesday, 1st Friday Art Walk, and Free Days at the Museum.
- Pre-Game at Home-If you plan on drinking (obviously use public transportation/cab/Uber/or Lyft, don’t be an idiot) make drinks at home. This will cut down on your costs once you arrive at your destination. Drinks have gotten expensive!
- Happy Hour-I love happy hour. There is nothing like having delicious plates of food and drinks for ½ the price. Most people really enjoy going to happy hour, so you won’t get many complaints when you suggest going to one.
- Don’t be a whiner-People paying off debt ROCK. If you whine about how much debt you have, to be honest, it won’t endear you to others. We’re in the adult world now. Be proud of what you’re doing and get it done.
- Be In Charge-Try to be in charge of the outings that you go on. Your friends will make suggestions on outings that they would like to go on. If you’re financially unable to swing it, make sure you have fun things to suggest that don’t hurt your wallet.
- Dump-Any friends who road block your progress or just shift them to acquaintance level. Anyone who throws shade on you for doing what is right for you is a problem.
Being frugal in a world that encourages constant mindless consumption is challenging. No one wants to be the odd man out and as you embark on living frugally, repaying debt, or just focusing on savings and investing keep your eye on the prize and be true to yourself. Embrace it not as a time in your life that you have to suffer through, but a moment in time to meet a challenge that you’ve set for yourself.
Imagine how it will feel to: have a fully funded emergency fund, to pay off your student loans, to save enough money to travel around the world for a year.
Wouldn’t the sacrifice be worth it?
If you live to be 87 and for 2 or 3 years of that lifetime you did all you could so that you could live a dream, create financial stability, or stabilize your finances wouldn’t it be worth? Frugal living isn’t that big a deal as long as you approach it with the right frame of mind.
i used to love happy hour,pre-baby. I still love it, but I just don’t go.
I used to love BYOBs. In my old neighborhood, you could have an amazing main course for less than $15, plus a nice bottle of wine from the store. Markups on wine are insane in restaurants, 100% over what you could buy the same bottle for in the liquor store down the street. I think having just a glass is another 100% markup. There aren’t BYOBs everywhere but it’s totally worth a Google search. Also, we try to ask ahead if we can bring our own bottle and what the corkage fee is, even when a restaurant is not BYOB. It still works out cheaper than buying a bottle in the restaurant.
My favourite way to save money is by biking to work. I started about 5 years ago now. I was even able cancel my gym membership because I was getting so much exercise. So I’m saving money on transportation and getting free exercise! Win-win! It probably works out to ~$200/month in savings. Plus I’m way more active than I used to be 🙂
Thomas @ i need money ASAP! recently posted…Making Money From Home: January Update $1,662
That’s awesome! My job is much too far away for me to do that, which leaves me jealous of you! (It’s over 50km one way, up a mountain).
We love taking advantage of the free museum days in the city.
Michelle recently posted…The Cost of Infertility
Oh nice! Our museum is free… but it’s also one small room.
All great, I especially like the last one : Dump! Sometimes it must be done to move forward in peace!
Toni recently posted…The Power of Community
Trying to get out of debt and save money feels a lot like dieting. The saboteurs are everywhere. It’s encouraging to see how well you’ve thought this out and made plans to outsmart the roadblocks. Great post! 🙂
We love happy hour at our favorite bar in the city. It keeps the “night life” cheap-even though it’s only 4 in the afternoon.
I am all about happy hour!
Michelle recently posted…Following Mormon Fashion Blogs Will Save Your Job
Being in charge definitely helps. If you missed out and they already made plans, try finding a coupon or group discount that everyone can benefit from.
Stefanie @ The Broke and Beautiful Life recently posted…What Gives Worth vs. What Gives Joy
I love coupons-especially the online ones…but I have to be so careful because I kind of got addicted to the deals/
Michelle recently posted…How to Dress Cheaply For the Rest Of Summer
Good suggestions Michelle. It’s not impossible to pay off debt and still have a social life!
Kassandra recently posted…Is Your Spare Room Costing You?
Even though I’m kind of a shut-in right now, I know that I could do stuff at very little cost and have a great time!
Michelle recently posted…How to Dress Cheaply For the Rest Of Summer
ha my post touched on this today. So many of my friends make great money, so I do feel like the odd man out sometimes. Just yesterday I got an invite for a friend’s 30’th birthday celebration that is a whole weekend in San Diego. I know I can’t do that right now, so I have to be creative and figure out what to do, but I also have very understanding friends.
Tonya@Budget and the Beach recently posted…Being Uniquely You
Wow! San Diego Rocks-but, that is a big financial commitment. I am sure that you won’t be the only person who won’t join in because of the cost. I have several friends who are making BANK-that’s not me LOL. So, I have to pick and choose what I do with them. I can’t always go to Vail with them for a ski day.
Michelle recently posted…How to Dress Cheaply For the Rest Of Summer