Tips For Leading A Nice Lifestyle On A Frugal Budget

Whether you've been laid off, let go, are staying home with the kids or are just starting out, money is probably tight. Here are some ways to live frugally without sacrificing all of your little luxuries.

1. Set a budget. First and foremost, you must know exactly how much of your income should go to essential bills, including your rent or mortgage, your utilities, and transportation. Once you have allocated money for the basics, you know how much you have left for food, clothing, entertainment, and "extras."

2. Skip the coupons, and head straight to the discount store. While coupon clipping has long been heralded as a cost-cutting way to keep grocery expenses low, coupons are rarely available for produce, meat, milk, cheese and other basic staples. In addition, coupons will rarely save you more than purchasing generics in the first place. You should also avoid falling victim to the "extreme couponing" craze; in many cases, the hours required to coordinate so many coupons and ads would be better spent in a part-time job. Instead, find a store such as Aldi, Ruler, Sav-a-lot, or another discount grocery store, and try their products. In many cases, you can save 30 percent or more over shopping at the supermarket, and the quality is usually just as good. Some of these stores will even give you your money back if you are dissatisfied.

3. Buy most of your clothing and accessories second-hand. If scavenging through the racks at Goodwill or Salvation Army sounds too tedious, try higher-end consignment shops in your area, which tend to be choosier about the items they accept, or shop tag sales in nice neighborhoods. Used children's clothing is an especially good deal, because children wear items for a relatively short period before outgrowing them. You can also find nice handbags, shoes, belts and other accessories for a fraction of retail price. Look for gently used name-brand items that you can resell yourself when you or your child are finished with them.

4. Plant a garden. The best way to feed your family fresh, organic produce is to grow it yourself. If you have limited space, plant a small kitchen herb garden in a container or try hanging tomato planters. Anything that you can grow yourself will save you money at the supermarket, and you will know exactly what went into the fruits and veggies you consume. For even more savings, try your hand at canning and preserving your own sauces, jams, jellies and more.

5. Entertain yourselves on the cheap. If satellite or cable is too expensive, consider a streaming-only subscription to Netflix, Hulu or Amazon. Take advantage of your library card on a regular basis, checking out books, e-books, DVDs and other media to keep your minds busy without spending a dime. Finally, check into matinee prices at your local movie theater. You may be able to take your entire family to see the occasional movie for about the cost of one or two regular tickets.

While living life frugally can be a challenge, you don't have to feel deprived. From the thrill of scoring a bargain to the pride in growing your own dinner, you may find that making do is, at least sometimes, fun!