If you want to start living frugally, you have to start penny-pinching. That means watching your pennies as much as possible.
The theory is that every penny you save adds up. It may not seem like a lot, but all these pennies start to make a difference. After all, 25 pennies make a quarter, and 100 pennies make a dollar, and you get the gist.
When you start looking for small ways to save, your whole outlook on money changes, and you start saving more than ever before.
These penny-pinching frugal tips won’t have you reaching financial freedom tomorrow, but they will help you start saving money. You’ll wish you had started these right away, so why wait?
1. Unplug Appliances
This is hands down one of the easiest ways to save money. Switching off your devices or unplugging them only takes a second and will save you some money on your electric bill. Appliances and devices continue to use power even in standby mode, unnecessarily increasing your electricity bills.
Make it a habit to turn off your TV, gaming console, kettles, toasters, blenders, printers, computers, and chargers after use. While this will not reduce your electricity bills by half, it will undoubtedly save you some money that can be used for other things. After all, our goal is to make every penny count!
2. Shut Your Lights
Even if you have LED lightbulbs, each time your lights are on, they use electricity and cost you money. Get in the habit of shutting off lights when you are not using them, and spend some time walking around the house shutting your lights (and faucets!) before you leave the house. While the cost savings might be negligible, you’ll save some pennies and help reduce your energy consumption as well (a win-win!)
3. Lower Your Thermostat
Lowering or raising the temperature in the house can save you a nice amount of money. Start by raising or lowering your thermostat by one degree to get used to a slightly different temperature. You can layer up or open windows to help warm you up or cool you down if necessary. When you leave the house, you should set the thermostat even lower than when you are home, especially if you are going for a long time (for example, during work and school hours). An automatic thermostat can help you automate this to make it even easier.
Other than directly saving you money on energy bills, lowering your thermostat settings can help you lower your heating and cooling system’s wear and tear rate. You want to do all you can to minimize wear and tear on your HVAC system because they are so expensive to replace.
4. Seal Leaks
Leaks mean some of the heated or conditioned air escapes. As a result, the air conditioner or furnace will have to run longer to achieve the set temperature, consuming more energy in the process.
Inspect doors, windows, and gaps in walls for any drafts. Weatherstripping, caulking, or draft stoppers can help prevent heat or cool air from escaping, reducing energy bills.
Sealing leaks is a great way to reduce the wear and tear on your heating and cooling systems, just like lowering thermostat settings. This may not count in a year or two, but it will undoubtedly make a difference in the long run.
5. Air Dry Laundry
Air drying clothes is one of the best ways to reduce energy usage without spending any money.
Instead of spending so much on tumble drying your clothes, get drying racks or improvise a clothesline and start saving money.
Also, sun drying your clothes will not only save you money in terms of reduced energy consumption, but it can also help reduce the cost of cleaning products. The sun naturally serves as a bleach and fabric conditioner for your clothes. You can easily reduce the usage of these cleaning products when you start drying your clothes on a line.
6. Cook Efficiently
Start by planning your meals for the week and cooking in batches. You can then store the meals in small to use them throughout the week. The energy used to heat an oven will be the same whether you cook small or larger amounts. This is why cooking in batches will help those pennies in your pocket.
Other recommended ways to save energy while cooking include going for frozen vegetables, using a slow cooker, preparing all ingredients before cooking, boiling just the needed amount of water, and investing in energy-efficient appliances.
7. Fix Leaks Promptly
Address leaks as soon as they develop. Ignoring them will cost you a lot of money in terms of water waste and in possible further damages.
Whether it’s a dripping faucet, a running toilet, or a leaky roof, ignoring these issues can lead to higher water bills and expensive repairs down the line. A minor leak can quickly become a financial headache if left unchecked.
Have the leaks repaired as soon as they happen to avoid wasting your hard-earned money.
8. Reuse Containers
Reusing containers is good for the environment and your pocket. Get mason jars, reusable glass containers for food storage, and water bottles to avoid buying new items every other time.
Also, think twice before immediately disposing plastic containers such as yogurt and ice cream containers. Some of them come with very tight seals, and you can give them a second life. You could use them to store food, such as pasta, or to freeze food.
You could also use the plastic bottles and containers to garden in your yard and on your balcony.
9. Use Less Water
According to the Lawn Starter, the average American family of 4 pays an average of $73 monthly for water. You can tremendously reduce this amount by watching how you use water.
You should start by running full loads of washing machines and dishwashers. This will also save you money by using less electricity and cleaning products.
You also want to take fewer baths and choose to take quick showers instead.
Lastly (and probably the most underrated), turn off the water while brushing your teeth or soaping up dishes.
10. Seal Food Properly
A lot of food ends up spoiled because people do not know how to store it properly.
Looking to make your food stay fresh for longer? Sealing your food is a small but significant way to get this done.
Invest in airtight containers or reusable food storage bags when storing leftovers or bulk-bought items. This prevents food from spoiling prematurely and reduces waste.
By sealing food properly, you’ll cut food costs and minimize food waste, a win-win for your wallet and the environment.
Every penny counts for any frugal person looking to make financial progress, no matter how small. These 10 ways to pinch pennies will help you keep your hard-earned money for courses that matter the most to your financial goals.
They may seem like small steps, but with dedication and creativity, you will see the impact these can have in your life.
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