There are some frugal living tips that are so smart that they will blow your mind.
Saving money is an art. And some people have mastered it better than others. Usually, it is the small things that add up in the end. As a frugal person, anything that can help you save money without bordering on cheap is welcome.
Here are some interesting life hacks that other people use to save money.
The 72-Hour Rule
This rule is meant to help people avoid impulse purchases. Do not buy something that is not a necessity immediately. Instead, put it on a list and let it rest for 72 hours. If, after this time, you still want it, go ahead and buy it. If not, forget about it. This strategy has helped over 80% of people who used it to avoid impulse buying.
Look at the Unit Price at Your Grocery Store
Many people do not bother looking at unit prices when they are at the grocery store. Sure, it may be cheaper in the long run to buy something that does not expire in bulk, but it can help you save money when buying small, individual units of products.
Buy Reusable Products
This tip could also do wonders for our environment. Single-use products (especially plastic water drinking bottles) are a menace to the environment. We can buy reusable bottles, cups, and dish towels in place of paper towels. The savings may be small, but they add up over a period.
Buy Tools If…
Need to do a repair but the cost of the tool is the same as the repair? Buy the tool. Why?
If you do so, you can save money whenever you want to do the repair again because you will have access to the tools you need. And you can also share the tool with your neighbors saving everyone money and building community as you do so.
Check Your Money Regularly and Stick to a Budget
Make a habit of logging into your online account and checking how you are spending your money. You will notice a pattern and find out where your money goes. Seal those money pits by creating a budget and sticking to it.
Track Your Finances
A simple spreadsheet will suffice for this. Start with the estimated expenses at the beginning of the month/certain set period and then compare with the actual expenses at the end of that period. You will see where you overspent and where you could cut back and save more. This will help you avoid unnecessary expenses. You can share it with someone you trust to keep yourself accountable.
Live Like a Smoker, but Do Not Smoke
This is an interesting approach that could help save some money every week. Someone said that if smokers can afford to buy a packet of cigarettes daily, even at a low income, they can afford to put ‘money for smoking’ aside as well, even if he does not smoke. Eventually, this amount adds up to a tidy figure. Smokers should try to avoid smoking and save the money instead. It will also be good for their health.
Get a Library Card
A library card offers much more than just reading books. Depending on your state, you can access zoos, museums, and other public spaces freely. You also get to read books at your discretion.
Save All $1 Bills
Instead of spending $1 bills and anything less than that, collect them in a box. When you break down the box, you will be surprised to find that you have accumulated a decent amount by the end of the year. You can use the money for Christmas presents or buy yourself something nice.
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