I joined Reddit last July after maxing out two $5,000 credit cards and realizing I needed a change. I took up frugal habits learned from here and similar subreddits and after nine months, I'm finally debt-free! (I'm young and don't make a lot, so it took some time) Here are some of my biggest takeaways.
- THERE'S NO SHAME IN ASKING FOR HELP - While I didn't get financial help, I told my family and friends about my situation, and that anything we could do to keep things inexpensive would be appreciated. Instead of going out to dinner and to the movies, I played tons of basketball with friends, started inviting people over for home-cooked meals, and had many cheesy-movie nights with friends. This adds up FAST and saves big money, and having support from loved ones cheering me on to pay things off made a huge difference.
- IT'S AMAZING WHAT YOU PAY TOO MUCH FOR - Let's take body wash as an example. I was paying over $4 a bottle for the Dove men's soap. I went to Walmart and bought the cheapest soap I could find ($0.99) which was awful. I took a step up to the $1.50 Suave men's stuff and it worked excellent. I did this with everything I bought. I bought the cheapest version, and worked my way up until the quality was acceptable. More often than not, the cheapest thing is just fine!
- IF IT AIN'T BROKE, DON'T FIX IT - Here's an unconventional example of this. I like video games, but realized that this wasn't a wise use of money when in debt. Instead of buying new games, I milked the ones I had for their full enjoyment. I've played nothing but Mario Kart 8, Splatoon 2, and Smash Ultimate for the past year and have bought no new games (except Smash when it came out) and have milked an incredible amount of hours (and value) out of them. No need to buy new games if you love the ones you have! This applies to many other items. If it ain't broke, don't fix it.
Thank you /r/frugal for all the tips. I was a just lurker, but I still felt like I wasn't alone. I'm hoping these habits will lead to future financial well-being!
April 20, 2019 at 01:05PM
