By Cathy Severson

Have you embraced frugal living? Many people have cut back and searched for easy ways to save money. Is being frugal worth it?

Have you taken the time to think about the costs versus benefits of living frugal. A few years ago, I wanted to raise tomatoes. While the product was much better than those purchased at a super market, we the estimated the cost at around $10 a pound. I enjoyed the process, learned a lot and expect that the cost would be cheaper the next year. From the perspective of frugality, raising my own tomatoes wasn’t cost effective. For many people, raising their own food is both cheaper and more enjoyable.

When you think about frugal living, how do you evaluate whether it’s worth it? First, your time is worth something, even if you’re retired. Although, your time may be worth less. What do you do yourself now that you paid to have done when you worked?

Is the benefit worth the effort? I don’t cut out coupons. When I had a family to feed, there were times when I used coupons. We don’t eat many of the foods that use coupons. I hated the process of storing and then rummaging through them, so haven’t used grocery coupons for a long time. Occasionally, I’ll see an offer online or in a paper that I’ll take advantage of in the moment.

Do you enjoy the activity that saves you money? Do you love to can foods? My mother canned many foods when I was growing up. I don’t enjoy canning foods, but most weeks during the winter, there is a huge pot of homemade soup on the stove, which I enjoy doing.

Do you purchase items on sale and then don’t use them. As most women, I love a good clothing sale. You have to be very careful. If the item sits in your closest, not being worn, then it doesn’t matter how good of a value it is, it wasn’t worth it.

What’s the cost to the environment? Researchers actually found it was more cost effective to wash dishes in a dishwasher than by hand. Many people wash their cars at home instead of taking them to a car wash. Many automated car washes recycle their water and aren’t putting detergents down the drain.

As people reach retirement, they tend to be more financially conservative. The current economic climate has made frugal living more common for everyone. Is being frugal worth it? Look at the financial cost, the time it takes, your enjoyment and the cost to the environment and natural resources. Then decide.

Do you have tips for frugal living? Are there things you did to be frugal, but have stopped? Please share.