Living frugally is not about deprivation but about empowering yourself to make smart choices that stretch your budget further. There are many frugal money habits that boomers used to do that millennials and Gen-Z should steal and start doing in their own lives.
By adopting these simple habits, you can take control of your finances and save money without sacrificing your quality of life. From cutting down on streaming services to maximizing rewards programs, here are 13 easy frugal habits that can help you feel more in control of your financial future.
1. Free Outings
Keep an eye on social media for free events in your area. Many communities host concerts, festivals, and other activities at no cost, providing entertainment without breaking the bank.
2. Practice Minimalism
Embrace minimalism by buying only what you need. Decluttering and focusing on essentials will save you money, reduce stress, and increase mindfulness.
3. Cook and Meal Prep at Home
Save time and money by cooking and meal prepping at home. Not only is it cheaper than dining out, but it also allows you to control portion sizes and ingredients for healthier meals.
4. Cutting Down and Hydrating
Practice portion control and hydrate using a reusable water bottle. Drinking water instead of purchasing beverages will save you money while keeping you refreshed.
5. Make Your Coffee at Home
Skip the expensive coffee shop trips and brew your coffee at home. Investing in a quality coffee maker and beans can lead to substantial savings compared to daily cafe visits.
6. Cut Down on Your Streaming
To save money, limit your streaming service subscriptions to one at a time. Focusing on one platform at a time allows you to fully explore its content before switching to another service. There are also a lot of free streaming options for you to try!
7. Commute by Bike
Commuting via bike whenever possible can save on fuel costs and give you a workout. Bike riding is eco-friendly and is good for your physical and mental health while reducing transportation expenses.
8. DIY Repairs
Watch tutorials online to learn basic DIY repair skills. From fixing leaky faucets to repairing electronics, tackling simple repairs can save you money on professional services and give you a sense of accomplishment and self-reliance.
9. Reduce Water and Energy Consumption
Conserving water and energy can lower your utility bills. Simple measures like turning off lights and fixing leaks can save you significantly over time. So channel your grandfather and shut off the lights each time you leave the room.
10. Don’t Upgrade
Resist the urge to upgrade your electronics unless necessary. By extending the lifespan of your devices, you’ll save money and reduce electronic waste. When your grandparents were growing up they didn’t have fancy phones or gadgets- be the same.
11. Visit the Library
Take advantage of your local library for free access to books, eBooks, and other resources. Some libraries even offer tool rentals, 3D printers, and multimedia materials, making it a valuable resource for frugal living.
12. Check for Utility Discounts
Explore utility discounts available for low-income households or individuals on needs-based programs. Qualifying for assistance can unlock utilities, internet, and phone service savings.
13. Go Frugal on Your Car
Choose a vehicle that meets your needs without exceeding your budget. Smaller cars often have lower fuel, maintenance, and insurance costs, making them a frugal choice. Consider hybrid or electric options for additional savings, especially with available rebates.
