Gleefully Frugal

The New York times has an article entitled, “Austere Times? Perfect” where they look at individuals that are shifting into frugal mode with relish.  The negative reviews of the article have centered on the fact that the intitial couple interviewed are a real estate investor and plastic surgeon, and some of the frugal habits outlined were about using the i-phone to spot deals.  While certain aspects of the article may seem unrealistic to those of us not currently living in Manhattan (I’m a former Upper West Side resident), I was intrigued by the thought of people being gleefully frugal.  In particular, in weight loss, the addition of competition and public accountability can often contribute success as seen in popular shows like The Biggest Loser.  No doubt, the same can hold true for frugal behavior.  Consider the following:

–Invite friends over for a dinner party where you try to feed the group on a very limited budget.  Rotate this theme among the group and see who had the cleverest offerings.  The New York Times food section did this a couple of weeks ago.  The ceviche and carnitas sounded yummy.

–Set explicit goals for saving found money and snowflaked funds and celebrate when accomplished.  The goal can be savings, such as a Savings bond for a child, or opening a new mutual fund account when the minimum is reached.

–See which member of the household can be the most frugal with their respective allowances.

–Have a pantry night each month (or fortnight) to see what creative meals can be created at the pantry.  Pantry meals can be quite tasty.

–See if you can reach a particular financial goal by selling unneeded and unwanted things on CraigsList or E-bay. If some of the items aren’t in demand, see if someone on Freecycle needs them.

Any other ideas for the gleefully frugal?

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