Extreme Frugality | Recession Drives ‘Cheapskates’ to the Extreme

By Elizabeth Fairchild, your financial news source

Blogs blossom from saving sprees

Turning down your AC to save money? Amateur!

Turning down your AC to save money? Amateur!

The recession has driven up the savings rate and caused many people to be more cautious about their spending. Some people, though, are going to extreme measures to save money or cut  back spending. It’s almost like they view it as a challenge or a trend.

In fact, a few people have turned their extreme frugality into  a hobby, writing blogs about how to save money.

Exhibit A

Amy VanDeventer is a good example of extreme frugality.

“I was already cheap,” said VanDeventer, a 36-year-old mortgage loan underwriter from Broomfield, Colo. “Now I am neurotic about it.”

Though VanDeventer was already saving 25 percent of her income before the recession started; she now saves 50 percent. She does the usual things, like clip coupons and dress her daughters in hand-me-downs. But she also slices open lotion bottles to scrape out the last bits and salvaging bagel scraps her kids leave on their plates.

“I do it out of fear because I would rather put that money in the bank or purchase something we really need,” said VanDeventer. Socking away all that money is a good way to avoid needing payday loans.

Blogs on being cheap are free!

Lynnae McCoy runs a blog called beingfrugal.net. In January, the site got 110,000 hits. That’s 30 percent more than a year ago. McCoy’s blog gives people tips on how to save money by making their own detergent and other household goods, among other helpful advice. She recommends replacing liquid fabric softener with vinegar.

“If you have vinegar, Dawn soap and baking soda, you can pretty much make any cleaning product,” McCoy said.

Retail prices are, like, so last season

Jodi Furman, a mother from Florida, says her friends used to laugh at her for her thrifty ways. She has always been a fan of coupons and deeply discounted clothing. That’s what inspired her web site, neverpayretailagain.net. In addition to giving tips on buying discount clothing, she shares information on how to save on healthy food.

Furman says she’s getting respect from “the spenders,” now. They’re not laughing anymore.

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Discussion of Extreme Frugality | Recession Drives ‘Cheapskates’ to the Extreme

This post has 4 comments

  1. Peter Stone says:

    Saving money is virtue, no matter the economic conditions. The two websites that are linked are amazing! The no detergent ever again is a great tip – and if you buy Tide, you save a lot of cash! A great first tip is to never buy brand, go for generic. Generic brands can save you hundreds per year, and also knock off the bottled water habit. It pollutes and tap is just as good.

  2. Happy in Canada says:

    A bit obsessive but what the heck.

  3. Franrose says:

    Everyone I know is trying to cut costs one way or another. The economy is at a very unstable state and the best thing we can do is be prepared and expect the unexpected. There are tons of ways to save money; even the smallest things counts.

  4. Andy says:

    Frugal is the new cool as saving and thrift come back in fashion as we all try and get the most bang for our bucks

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