45 Frugal Living Tips That Won’t Leave You Feeling Deprived

If money feels tight, you don’t always need to earn more; sometimes, you just need to keep more. Cutting one small expense each week can free up a surprising amount of money.

Here are some ways to help you save money without feeling deprived. 

1. Cut Those Streaming Subscriptions

We used to say cut the cable (and you still should if you are paying a lot each month), but now people are loaded up on streaming services. Cancel them all except one, or see which ones you can get for free or super cheap (Black Friday is actually good for this), and then sign up on a monthly basis if there is a new show you need to watch. 

2. Take Advantage of Your Local Library

Visiting your local library can provide you with more than just free books to read or movies to borrow. Libraries are also an excellent resource for saving money on other forms of entertainment. Many offer free speakers, workshops, music and film streaming, classes, and free passes to local attractions.

3. Cancel Unnecessary Subscriptions or Memberships

Be sure to check your bank statements to make sure you don’t get billed for a subscription service you no longer use. Sometimes companies will bill you automatically when a free trial ends.

Got a gym membership you don’t use? Why not cancel it and start a workout routine at home? Find a workout buddy to hold you accountable and to keep you motivated.

4. Eat at Home More

Cooking at home instead of going out to eat is hands down one of the best ways to save money. But, of course, I’m not telling you to stop eating out altogether, especially if eating at restaurants is your thing.

Reducing the number of times you eat out during the month is a surefire way to start saving more money.

5. Pay Attention to the Time of Day

Planning your leisure activities during the time of day when they are the cheapest will save you money. For example, going out for breakfast or lunch instead of dinner, going to a matinee instead of seeing a movie at night, or hitting up happy hour instead of drinks after dinner are all ways to save.

6. Entertain at Home

Entertaining at home is a great way to save money. There are many fun things to do with your friends or family while saving money to help you progress toward your money goals.

A few ideas for entertaining at home are to:

  • Plan a potluck meal
  • Have a board game night
  • Do some wine tasting
  • Have a bonfire
  • Watch a movie
  • Play cards
  • Hang out on the deck or patio

7. Meal Plan

Creating and sticking to a meal plan is one of the most effective ways to reduce your food expenses. Meal planning is simple once you figure out a system that works for you.

Using an inexpensive monthly planner, making a meal planning binder, or using a free printable meal planner are all straightforward systems to get you started.

Then you just have to start filling in your family’s favorite meals. Easy, right?

8. Use Cashback Grocery Apps

Cashback grocery apps are so much easier than clipping coupons. Paper coupons will save you money; however, clipping coupons can be time-consuming.

Two top-rated cashback grocery apps are Ibotta and Fetch Rewards. They are both straightforward to use and offer great cashback deals.

9. Shop Online for Groceries

If you want to get serious about saving money on groceries and sticking to your food budget, shopping online is the way to go.

You will avoid impulse buys by not going into the store. You can also easily remove groceries from your cart if your total is more than your budget allows. Plus, you can hook your grocery account to apps like Ibotta or Fetch and save money with cashback. 

10. Buy in Bulk

Buying in bulk is a great way to save money on ingredients so you can make cheap meals for your family and lower your food costs. Just check unit prices to confirm you are getting a deal. Also, avoid buying perishable food in bulk if you won’t use it up before it expires.

11. Avoid Food Waste

The average household wastes 31.9% of food bought each year. Reducing food waste is a missed opportunity for saving money on groceries.

There are many simple strategies you can employ to decrease your food waste. Meal planning, only buying what you will use, repurposing leftover food, and organizing your fridge and pantry by expiration dates are a few strategies that can help you avoid throwing food away. 

12. Refinance Your Mortgage

Refinancing your mortgage to a lower interest rate will help you save money on your home. You may even be able to shorten the term of your mortgage and still reduce your mortgage payment while saving money on interest.

13. Get Rid of PMI

If the value of your home has increased and you are still paying private mortgage insurance, check with your lender to see if they would consider a home appraisal to qualify you for the 20% equity threshold.

Every month, paying extra money on your loan principle will help you get your PMI canceled sooner. In addition, even small amounts of money will add up to get your mortgage balance down to 80% of the original appraised value faster.

14. Plan for Major Purchases

A home requires many expected and unexpected purchases. Yet, for some reason, things like water heaters, kitchen appliances, and HVAC systems seem to fail at the worst times possible.

Setting money aside in an emergency fund will help you prepare for costly, unexpected home repairs. In addition, this will help you avoid taking on credit card debt in the event of an emergency.

The easiest way to set aside money is to automatically transfer money into a high-yield savings account or money market savings account. However, it is best to have a separate savings account for your emergency fund to keep it safe and ensure it’s used only for emergencies.

If you know you will need to replace a home appliance soon, planning will help you take advantage of upcoming sales. Do your research before buying to ensure you get the best deal on what you need.

You can also use the envelope cash system if prefer a more low-tech approach. 

15. DIY When Possible

Performing essential home maintenance and simple repairs yourself can save you several hundred dollars by avoiding the cost of hiring someone else to do the work.

Things like yard maintenance, minor landscaping, and indoor painting are all things the novice DIYer can typically handle. But be careful. Don’t take on anything that could risk your safety or the safety of others just to save money.

You could also trade services with a friend. For example, if you have a certified electrician friend and you are a pro at installing flooring, trading services can save you both money.

16. Shop Around for Insurance

It’s easy just to let each year roll by while paying your regular premiums on your car and homeowners’ insurance. However, if you take some time to make a few phone calls to compare quotes, you may be pleasantly surprised by how much money you can save. You can also use an agent on commission to do the research for you. 

17. Raise Your Deductibles

Increasing your deductibles for your car and homeowners insurance will reduce your premiums. If you go this route, make sure you have money set aside to pay your deductible if the need arises.

18. Bundle Your Policies

Many insurance companies will offer deals for purchasing multiple types of policies. For example, bundling your homeowner’s, auto, and umbrella insurance policies can result in a multi-policy discount.

19. Get Term Life Insurance

For most people, term life insurance is sufficient for their needs. Additionally, it’s more affordable than whole life insurance policies, allowing you to obtain more coverage for a lower cost.

The younger you are when you purchase term life insurance, the cheaper your premiums. Shopping around for coverage will help you find the lowest rates possible.

20. Establish a Travel Budget

Creating a travel budget is a must for saving money on travel. Planning and tracking your travel expenses will help you stay within your budget.

21. Rent Someone Else’s Home

Choosing to rent through a service like Airbnb instead of renting a hotel room can save you money on your vacation. However, be sure to check the ratings and reviews of the rentals before booking.

Renting a home will give you access to a kitchen, allowing you to cook your meals instead of eating at restaurants every day, which can save you hundreds of dollars on your dining expenses.

22. Be Flexible with Your Travel Dates

If you are willing to travel during the off-season, you can save a significant amount on your vacation costs. So avoid traveling during holidays and peak season for your destination.

23. Use a Travel-Friendly Credit Card

Do your homework on your credit cards before you go. Make sure you’re using a card that does not impose foreign transaction fees or fees for currency conversions when traveling abroad.

24. Use Credit Card Reward Points

When used responsibly (paying the balance in full each month), credit cards that offer travel rewards you can redeem for hotel nights or flights can save you a bundle. Credit card rewards can score you extraordinarily cheap or even free travel with some planning and strategizing.

25. Rent Out Your Place

If you are traveling for an extended period, consider finding a renter for your home to offset your travel costs. You could find a renter for your home by using a listing service like Airbnb or VRBO.

26. Avoid Buying Overpriced Food

Account for food purchases made while traveling in your travel budget. Avoid blowing your travel budget by staying away from overpriced food in airports, rest stops, or fast food joints.

Take snacks and drinks with you when possible when traveling. For example, take a reusable water bottle along to fill up instead of buying bottled water. Instead of stopping at convenice stores or beach-side shacks, stop at a regular grocery store on the way to stock up on snacks and drinks. 

27. Reduce Your Cell Phone Bill

One of the first things to address when saving money on your utilities is your phone bill. If you haven’t already, get rid of your landline.

If your current cell phone carrier does not have a cheaper phone plan to save you money, you can easily find one with a bit of research.

Also, check if you qualify for any special discounts on your cell phone bill. For example, some carriers offer discounts for students, veterans, or government workers. In addition, check if specific cell companies provide cell phone discounts through your employer.

28. Reduce Your Internet Bill

If you can’t completely cut the cord for cable, you typically can save money by bundling your internet and cable services through the same company.

You can also reduce your internet bill by opting for a slightly slower speed. Another way to save money is to buy your modem and router instead of renting them. Just be sure they are compatible with your internet provider.

29. Switch Out Light Bulbs

Many people don’t realize how much money they can save by switching to energy-saving LED bulbs. A study done by the Consumer Federation of America determined that switching regular incandescent or halogen bulbs to LED bulbs saved the average home that uses 20 light bulbs $1,000 over ten years.

30. Upgrade Your Thermostat

Investing in a programmable thermostat for your home will help reduce heating and cooling costs. Try setting your thermostat to adjust at night or when you aren’t home during the day to save money on your utilities.

31. Decrease Your Water Heater Temperature

According to the U.S. Department of Energy, lowering the temperature of your water heater from 140 degrees to 120 degrees can save 4% to 22% on your annual energy costs. But the amount you can save depends on your consumption.

32. Reduce Water Usage

Here is how to save money on your water bill:

  • Install water-saving showerheads
  • Take shorter showers (set timers for kids)
  • Turn off the faucet when brushing your teeth
  • Replace old toilets with water-saving ones
  • Repair leaky faucets
  • Hook up a rain barrel for gardening
  • Only run a full dishwasher and washing machine
  • Only plant trees and shrubs that are drought-tolerant

33. Insulate Your Home

Ensuring your home is properly insulated will help decrease your utility bill. Fix drafty doors and windows with caulk or weatherstripping. Use heavy curtains or cellular shades on windows for insulation.

34. Unsubscribe from Emails or Subscribe to Emails

If your spending is out of control and you are trying to stop buying things to save money, then unsubscribing from store emails is the way to go. By unsubscribing, you reduce the temptation to spend money while trying to save.

However, if you are looking for discount codes or coupons for something specific you want to buy, try subscribing to the store’s emails. Stores send notifications of upcoming sales and special discount codes via store emails.

35. Stop Impulse Spending and Emotional Purchases

Impulse spending can wreak havoc on your budget. Establishing a waiting period before you decide to buy something can help stop those unplanned purchases. Sleeping on it for a day or two will also help you avoid impulse purchases.

If you tend to be an emotional spender, meaning you buy things to improve your mood, try to find other ways to cope with your feelings. For example, during stressful periods, finding alternative stress-relieving activities or using relaxation techniques can be healthier for you and more cost-effective.

36. Give Yourself a Spending Allowance

Restricting your online shopping by setting spending limits can help you save money and focus on your financial goals. Factor your spending money into your monthly budget to keep you on track so you can progress toward your financial goals.

Again, the cash envelope system is great for this!

37. Remove Saved Credit Cards

One-click purchases make it too easy to spend money nowadays. Delete your saved credit cards from your store apps to make online shopping more inconvenient.

38. Comparison Shop

When purchasing online, shopping around for what you need will help you keep more money in your bank account.

39. Use Cashback Apps and Coupons

Take advantage of free cashback apps, such as Rakuten or Honey, to help you save money when shopping online. These cashback apps have browser extensions that help you find the best coupon codes and discounts with just the click of a button.

40. Decide on Your Priorities

Being intentional with your spending habits and establishing your priorities will help you save money when shopping online. In addition, knowing your path will allow you to stop and think twice before making a purchase that could hinder your progress when working toward your financial goals.

41. Contribute to Your Tax-Deductible Retirement Accounts

Contributing to your employer-sponsored retirement account, such as a 401K, will decrease your tax liability by reducing your taxable income for the year. If you don’t have a retirement plan at work, contributing to an individual retirement account (IRA) can get you a tax break.

42. Open a 529

Opening a 529 for your kids to save for their college years could get you a state tax deduction or credit. Additionally, federal taxes are not imposed on 529 plan earnings, and withdrawals used to pay for college are also tax-free.

43. Take Advantage of a Health Savings Account

Health Savings Accounts (HSAs) are available to people enrolled in a high-deductible health insurance plan. You do not pay federal income tax on contributions made to your HSA.

Earnings on your HSA are not taxed, and distributions to pay for qualified medical expenses are tax-free, making this savings vehicle an asset for reducing your tax bill.

44. Use Your Dependent Care FSA

A Dependent Care Flexible Savings Account (DCFSA) is a pre-tax benefit account to pay for qualified out-of-pocket dependent care expenses. Contributions are made directly into the DCFSA from your paycheck. Since the money you deposit is pre-tax, it saves you money on your taxes.

45. Give to Charities

Donating to a tax-exempt organization is another way to save money on taxes. However, before donating to a charity, do your research to ensure your charitable donations will qualify under federal tax laws.

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