Many people want to learn how to be frugal in an ever-increasing inflationary economy. A Quora user posted this question on the platform, and people responded with tips and hacks.
Cancel Subscriptions You Do Not Need
Canceling unwanted subscriptions can save money; according to one user, “Go back through your bank statements and look for regular subscriptions to things that you don’t need. These days it’s very easy to get signed up for software updates for your computer and for streaming services that cost money. Cancel anything that you don’t need.”
Ernest Adams says buying on credit can be expensive because of the high-interest rates, “Pay cash or do without. Buying on credit is usually a bad idea (except when buying a house, where you really have no choice). Credit card interest rates are outrageous.”
Live Within Your Means
Human Psychology Facts channel urges people to live within their means, “Yes, I have my splurge days, but buy what you need and treat yourself once in a while, not every day!”
Buy Perishables While They Are Still Fresh
Jeremy Hawks urges people to buy perishables while they are fresh to push the supplies longer, “You don’t want to find that it spoils almost instantly and wastes your money. If perishable items from a particular store spoil too quickly, buy those items from somewhere else.”
Avoid Expensive Habits
“Avoid the more expensive habits, such as expensive meals out or concert tickets; choose lower cost options when buying food, clothing, and other things. Choose store brands, less expensive cuts of meat, and so forth,” says the Retirement loving channel.
Keep Track of Your Spending
Retirement loving channel also added that “How much do you spend on things you buy outside the home, such as coffee or restaurants or entertainment or whatever. Figure out how much you could cut down or cut out without seriously inconveniencing yourself.
Shop for Seasonal Items
Ganesh advises people to shop for seasonal items, “Look for seasonal vegetables and fruit as they are less expensive and better. Also, shop for meat on Tuesdays, as the majority of stores will discount their meat once the weekend has passed. Making the start of the week a smarter time to find delicious protein but pay less for it.”
Eating Out Is a Money Pit
Arora urges people to avoid eating out, “The whole family can work together and put one of the best meals on the table with pennies on dollars.”
Take Advantage of Sales and Special Offers
Another user urged people to save money by buying what’s on offer, “Don’t be afraid to bargain hunt – it can really pay off!”
Reduce Your Energy Consumption
Reducing utility bills can help save money; according to another user, “During inflationary periods, energy costs tend to go up. Take steps to reduce your energy consumption and save money on your utility bills.”
Limit Your Trips To Avoid Gas Consumption
Hatke urges people to plan their errands the right way, “I try to limit my trips to “errands” as much as possible. When I go out, I list what I need and from where and plan my route to reduce gas consumption.”
Do Not Buy Clothes Every Season
Yassir urges people to avoid buying clothes every season, “Ask yourself “Are my clothes worn out?” If they are, go ahead and buy new ones. If not, why not save some money?”
Scout for Deals in Facebook Marketplace
Frank Pepper pointed out that people could save by looking for deals online, “If you do need to purchase a tool or item, start by looking in your Facebook marketplace or local classifieds. I bought a belt sander and electric hand planer for 15 bucks, a thickness planer for 40, a cut-off saw for 15 (with a brand new finishing blade on it), and a radial arm saw for 40 that hasn’t failed me yet. They are likely 30–40 years old, some of them, and still work great. These tools have already made me thousands of dollars. There is no need to buy the latest and greatest all the time, even if you use it to earn a living.”
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This article was produced and syndicated by A Dime Saved.