Moneywatch: Living The 'Frugalista' Lifestyle

MIAMI (CBS4) - Despite some reports that the economy is getting better many families are still doing what they can to save money.

One South Florida woman is living proof that you can be frugal without giving up too much.  Natalie McNeal wrote about her experiences in a new book called "The Frugalista Files: How One Woman Got Out Of Debt Without Giving Up The Fabulous Life."

Another perfect example of being able to live the frugal life is Violette Sproul who left a corporate job to start www.Femfessionals.com. It is now a booming business which gives professional women a chance to network.

Sproul said last year she put everything she had into starting the business.

"We watched every single penny and every single dime. We definitely cut back on things that were really insignificant," Sproul told CBS4's Jorge Estevez.

She cut back on things like hair color, premium cable channels, daily lattes, and lawn services. She also found free family activities, searched for coupons, shopped discount stores and set grocery budgets for her family.

"Trying to explain to the children, we cannot purchase that and we cannot do all these things that we used to do just for a short term period was tough," said Sproul.

It was a job well done, according to McNeal, founder of www.Frugalista.com a blog created to help people save money.

"I had credit card debt, a student loan and a car note. I was dealing with it. I needed to come up with a plan to cut it out," said McNeal.

CBS4 news was with the Frugalista two years ago when she went 30 days without spending on extras.

"I saved about $400 dollars, then a light bulb went off.  I knew that 'Hey, this is a new lifestyle for me. I can take control of my money'," said McNeal.

McNeal said her best three tips if you want to become a 'frugalista' are:

1. Cut out expenses
2. Find a way to earn more money
3. Take a career risk

These are all the things Sproul did to help get her business off the ground which makes her a 'frugalista'.

"I really don't need to get my nails done every single week.  My hair could have a little bit of gray in it, I do not need to get it covered. It is a learning experience you will have forever," said Sproul.