So… how do YOU save money? Someone recently asked what are the best and easiest ways to save some money and keep their hard-earned cash.
A person asked this question on Quora, and the responses were overwhelming. We have sampled some of the best tactics people use to reduce their monthly expenses from their responses to this thread.
1. Cut off All Entertainment
Elaine says, “I’ve never been that much into entertainment – I don’t buy tickets to concerts, sports games, or movies (I am in the minority for sure – a lot of people around me love watching movies, but I forget movies so fast so I hardly go to the theatre). What do I do for fun? I take walks with my family, work in the garden, read, surf online, nap, and I have a lot of occupations to keep me busy.”
2. No Bottled Water
Jay says she saves money by not buying bottled water, “I have water softer and purifier which costs around 10K to install, and I have my own water well and it has no chlorine and fluoride. So fresh earth/well water for life. No more bottled water expense for life.”
3. Drive Cheap Cars and Do Paid Ride Share
“I drive a hybrid Toyota to work – which means next to no repair bills and ridiculously low fuel expenditure. And I can do paid ride share, so the car actually earns me money,” says Chris Ebbert.
4. No Eating Out, No Junk Food, and No Fast Food
Kimberly Walker says, “I do not eat out. I go to the grocery store and roadside produce stands, shop like a queen (ok, I stop at $200), and with the few things I grow, I cook over-the-top amazing meals at home. For a month. No junk food. No soda, no snacks, no fast food. This is all very rare treat type of stuff that I really only try if I’m traveling.”
5. Rarely Shops for Clothes and Accessories
“Inspired by minimalism, I rarely shop for my clothes and accessories. I have enough hoarded at 37 years and sometimes recycle,” said Sabeeha.
6. Moved to a Cheaper Country
Tarik couldn’t keep up with expenses in the US, “I became an ex-pat in 2017 and moved to SE Asia from the USA to further reduce my expenses. I enjoy traveling and was able to cut my expenses by 50%.”
7. Buy Clothing That Lasts Longer
“I buy classic made-to-measure quality clothing that doesn’t go out of style. Better clothes mean you earn more and can last longer. Not really much of an expense. An alternative is to get a standard suit from a department store cheap and alter it if you are broke and can’t even afford a tailored suit,” Kayee Tong points out.
8. Buying In Bulk
Teresa Shaw points out, “Strangely enough, buying multiple food items saves me money. This is because if I have something in the cupboard, I can talk myself into making a meal at home rather than eating at a fast-food joint.”
9. Driving Cheap Secondhand Cars
Michael Cheng notes, “Bought a cheap secondhand electric car with cash — saved about $120–150/month on gasoline versus the slightly higher electricity bill.”
10. Cook Meals at Home
“My wife and I cook every single meal of the day. Both of us are working professionals, but we ensure that we eat home-cooked food every day. Lunch for two will cost approximately $30 in Toronto. By eating home-cooked meals, we save more than $600 every month,” says Subramanian
11. Cut My Own Hair
“I got real good at cutting my husband’s hair and my hair to… savings there. My hair actually looks good with the grey; both my husband and I like it. Why change the natural color when the natural look better….savings there,” said Helena Wallace.
12. Pay Bills on Time To Avoid Fees and Penalties
Stellar Cen notes that “Paying bills on time gives me higher credit scores, which helped me when I shopped for a low-interest mortgage when I bought my home.”
13. Practice Self-denial and Delayed Gratification
John Lim has a different approach, “LA is a city where keeping up with the Joneses is absolutely important, and I’ve made it a point to stay out of that rat race. For example, while I don’t have a place of my own now, for example, I strive to be able to enter the buyer’s market outright at some point, even if it means living out of suitcases for over three years now.”
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Committing to frugal habits will help you live a frugal lifestyle. Making frugal habits part of your everyday life could save you money in the long run.
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This article was produced and syndicated by A Dime Saved.
