Want to live frugally?
Need to save some money?
Here are some great ways to live frugally that I always recommend people try.
These are life-changing, powerful frugal living tips that you really should try.
Be Extremely Picky
Being extremely picky and scrutinizing potential purchases before buying can save a lot of money.
It’s easy to settle for something that’s “close enough” or get swept up by a sale price and convince yourself it’s a good deal.
Being more picky means stopping that kind of spending and saving money to buy exactly what you actually want instead.
Get Rid of Quick Online Payment Methods
Quick payment methods can make you spend unnecessarily.
Removing saved payment methods from sites where impulse purchases happen most is a simple but effective fix.
Having to physically pull out a card and type in the information is usually enough to talk most people out of it.
The 48-Hour Rule
Apply a 48-hour rule for any “extra purchases.”
Anything that sparks a “I want that” moment should wait at least two days.
If it’s still on the mind after that, wait another 24 hours.
If the desire is still there after all that, then go ahead and get it.
Stop Drinking Alcohol
Stop drinking alcohol, and everything in life will be better and more affordable.
For those who don’t want to stop completely, a useful guideline is to only drink at home.
The markup on drinks at bars and restaurants is significant. Try switching to water when you eat out, and you might just save a lot of money.
Look at Every Expenditure in Terms of Time
Start looking at everything in terms of time.
If you make $20 per hour and want to buy something that costs $100, it’s no longer $100. It’s roughly six and a half hours of your life (factoring in taxes) that you will never get back. That reframe alone changes how you see spending.
Some things will still be worth it, having someone clean your car, for instance, while others, like an impulse rug purchase, may not be.
Cook at Home
Start cooking at home and plan meals around the discounts of the week and what’s on sale.
A lot of money gets wasted on takeout and fast food. Cooking at home is almost always the better option unless it’s something very unique.
Reserving dining out for special occasions, like birthdays and anniversaries, keeps the experience meaningful and the budget intact.
Foster a Pet
For anyone who wants the companionship of a pet without the price and vet bills, fostering through an organization that covers all expenses is a smart alternative.
Most local shelters have these programs and are always looking for fosters. It’s a way to do some community service while welcoming a furry friend into your life.
Get a Cash-Back Credit Card
Get a credit card that gives cash back on purchases, charge all monthly items you can to it, and, without exception, pay it off completely each month.
All the cash back with no interest charges.
It’s a great win-win, as long as it’s done responsibly.
Ditch the Car
Not owning a car, if you can swing it, is probably the biggest frugal living move you can make.
It removes a significant source of financial and other stress, and the added walking is a health benefit.
Avoiding car ownership entirely frees up considerably more money to invest and save over time.
Track Your Budget Daily
Daily budget tracking is a true game-changer.
Tracking spending and adjusting as needed is the secret sauce.
Doing it frequently ensures nothing slips through the cracks.
Never Buy Outside Your Means
Never buy outside of your means. Period. This is talking about a vehicle, a home, or anything else.
Think in percentages: what portion of your income can realistically be spent without setting yourself back? The goal is always to see the bank account grow.
If something is outside your immediate means, save for it over time rather than buying impulsively.
Avoid Waste
Waste costs money.
Avoiding waste, especially with food, adds up over time.
Keeping a few ramekins of leftovers in the fridge makes for easy lunches or evening snacks. Fat and oil from cooking meat can be saved and reused.
Vegetable scraps can go toward making stock.
Small habits like these quietly reduce the grocery bill.
Buy Things Out of Season
Taking advantage of off-season sales can produce real savings.
A few weeks after winter ends, for example, stores discount sidewalk salt and hand warmers.
Shade tents bought in October can go for as little as $5 each.
As long as it’s something that will actually get used and won’t degrade over time, buying out of season pays off in the long run.
Save Up for Large Purchases
Save up for large purchases instead of buying on credit.
Want a new computer? Start setting money aside and buy it once the cash is there.
It’s simple advice that’s easy to forget, but if saving feels impossible, paying the credit card bill will likely feel even harder.
Read More:
- 12 Ways To Save Money on Groceries
- People Who Grew Up Poor Share the 20 Ultimate “Poor” People Hacks
- 30+ Best Frugal Living Tips To Help You Save Money Now
