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With the cost of living spiraling ever upward, it's a job in itself to save money and make ends meet, but it can be done. I have lived on a proverbial shoe string for most of my 58 years, so living frugally has become a way of life for me, in fact, so much so, that I don't usually give it much thought until the topic comes up for discussion.

With perseverance and practice, frugality can become a way of life for you, too, and you will rejoice at the financial rewards and freedom once it has. Yes, I said freedom, as having a bit of savings in the bank and relatively few debts, if any, is a very liberating feeling. I am writing this article to share some of the ways my husband and I go about our daily lives in order to attain it.

First of all, no credit cards are allowed - period - and no loans of any kind unless it's for a basic need you absolutely must have such as a roof over your head, and you simply don't have enough money set aside to pay cash. Interest from banks, credit card companies, and other loan institutions can eat you alive. In short, do your best to live as debt free as possible.

If you must use an ATM to withdraw cash, draw out as much as possible during each transaction as some institutions charge a fee each time. Someone I knew had run up $50 in charges in a single month while pulling out only a few dollars during each of many visits to the ATM! The bank must've loved him!

As to banks - shop around to find out which one is paying the best interest rates. A few phone calls might have you moving your monetary assets to a different institution, but make sure they will be covered by FDIC in case the worst happens.

What about the car you're driving? How many miles does it get per gallon of gas? My husband commutes to his job, 80 miles round trip, and bought a used Geo Metro just for that purpose - and yes, he paid cash for it. It is getting about 47 miles per gallon. This is saving us $80 per month when compared to our newer Subaru station wagon - paid cash for it also - which is comparable to most average cars. It would be an even bigger saving had we been driving an SUV or pickup.

Don't fall into the hype of buying the new hybrid vehicles, as the prices for them are sky high which leaves you with no real savings. The money you hope to save on the cost of fuel will go to the car manufacturer and dealer instead. I might also suggest buying a good, used car instead of a new one. New ones greatly depreciate in value the moment they are driven off the lot.

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