‘Frugality Masters’ Offer Advice on Surviving High Inflation

Skyrocketing inflation has made life tough for consumers, especially housewives who feel the effects of rising prices daily at grocery stores. Furthermore, the soaring price of gasoline, which now exceeds 2,000 won per liter at most gas stations nationwide, has made drivers cringe every time the price inches up.

People, however, cannot stop spending even with the high oil and consumer prices. To guide inflation-weary consumers, three “frugality masters” have offered tips on saving in these tough times.

○ Use a calculator

Housewife Ahn Yeong-jin, who has two sons in elementary school, is an acclaimed “master of frugal shopping.” She won this year’s Shopping Queen Competition held by the online community Economic School for Frugal Shoppers on Daum, a major Web portal site. The community has 610,000 members.

Whenever she goes shopping at large discount stores, she always takes a pen, backpack, two shopping bags and a calculator together with flyers distributed by the store. When consumers bring their own backpacks and shopping bags, stores offer discount of 50 won to 150 won per bag.

Ahn uses a calculator to compare prices. She said, “Though private brands are often the cheapest bargain, consumers must thoroughly compare prices by working out how much the product is for a given unit – 100 grams or liters. If extra quantity is added for promotion, you need to think about that, too. It is like an afterschool math class for your children if you take them to large discount stores.”

It is also important for consumers to work out the optimal shopping path in stores, considering the section they visit most often. This prevents impulsive shopping because a shopper goes mainly to sections on his or list together with those offering bargains.

Ahn also has her own unique way of keeping her housekeeping book, in which she keeps track not only of names and prices but also places of purchase. By keeping such a record, she makes sure she knows which store offers the best price by item.

○ Save energy at home

Kang Hyeon-jeong, who lives with her husband and six-year-old daughter, spends about 100,000 won a month except for telecommunication and transportation fees. She is well known for her cost-saving savvy, something which landed her a radio program on thrifty living.

The gas bill for her 86-square meter apartment is only around 35,000 won, even during the coldest spell of winter.

“People get high gas bills even during summer because they turn on their boiler all day for hot water when they take a shower,” Kang said. “They can reduce their gas bills if they turn off their boilers immediately after they take a shower.”

Her tips do not end here. Kang has two 10-liter water buckets, one for cold water and the other for hot water. She said people could save water if they use it out of the bucket instead of using the shower.

Her frugality has also cut her family’s electricity bills. “We turn the air conditioner in the living room for about 15 minutes with all the doors closed,” she said. “After that, we open the doors and turn on the fan facing the room, which moves the hot air from the room to the living room and vice versa. This eventually cools down all the rooms. You can get much cooler air if you place a bucket of ice or a wet towel in front of the fan.”

Another useful tip is receiving free samples from the Web. Kang got her daughter`s diapers and baby formulas by participating in promotional events thrown by baby product companies online. Sometimes, simply joining one of these sites gave her many baby product samples free.

○ Ease up on the gas pedal

Investment expert Lee Dae-pyo runs the online community Economic School for Frugal Shoppers. His tips on cheaper car maintenance boil down to a single message: maintain regular speed.

He urges drivers to run their cars at 2,000 RPM in the city and below 2,500 RPM on expressways, saying, “When conscious of keeping this rule, you can prevent yourself from suddenly hitting the brakes or accelerator. You cannot speed up, either. If you take it easy on the road, you can reduce your gas bills tremendously.”

Lee also advises drivers to keep a diary of when they fill up and how many miles driven. Another tip is to become a regular at the gas station offering the lowest price on the way to work and using credit cards that offer discounts. He adds that going to a gas station faraway just because it offers cheaper gas is never wise.

Of course, drivers must behave well on the road to avoid tickets. Lee said, “Just observing basic rules such as wearing seatbelts and abiding by traffic lights and parking areas is enough to avoid getting tickets.”

crystal@donga.com