Learning how to live frugally is key to paying off debt and gaining control of your finances. But being more frugal with your choices doesn’t mean that you need to pinch pennies or deprive yourself of things you enjoy. Instead, it is about saving money by making mindful financial choices. This way you can live free of debt and make the most of life.
A useful mantra to remember is to always spend less than you earn. This can be achieved by cutting expenses in different areas and rationalizing your spending. Here are 10 great ideas to live more frugally and help you save money.
1. Buy in Bulks
Buying your essentials in bulk is a great way to save money. When it comes to items you use a lot, this is the best way to shop. This doesn’t mean that you should suddenly start buying more stuff than you need. But by shopping wisely and at the right times, you can save up to $100 per month.
2. Capitalize on A Hobby
If you have a little extra time, you could use a skill set that you have or a hobby to make money. For instance, if you enjoy writing, consider freelancing as a writer for newspapers, blogs, media outlets or other websites. If you’re crafty, you could use Etsy to sell your creations.
3. Get Rid of Cable
Ask yourself how much time you actually spend watching tv. If this is minimal, you may as well do without cable. If you spend a disproportionate amount of time in front of the television, there are probably better things you could be doing with your time. Take up a new hobby, catch up on your reading or spend time with family and friends.
4. Buy Second-Hand Items
You don’t need to buy used things exclusively but opting for second-hand stuff once in a while is a great way to save money. Think of all the things you won’t be using for a long time, like books and baby clothes. These are easy to find in used stores, and it’s a good idea to put them to use.
5. Be Creative with Gifting
When it comes to spending money on gifts for friends and loved ones, consider making them yourself rather than purchasing something from a high-end store. This could be anything from breakfast in bed to taking care of a chore for someone else. Something that is thoughtful or handmade has much more meaning and is also less expensive.
6. Eat More Fruit
Eating fruit every day is not only healthy, but it can help you save money. Several fruits, especially those that are in season are affordable and will keep you energized throughout the day. So, if you’re expecting to have a busy day, carry a banana and an apple with you. You can snack on something healthy instead of spending money on unhealthy alternatives.
7. Maintain Lists and Stick to Them
Whether you’re shopping for clothes or food, have a written list of the things you need to buy. Buying only these items can make a huge difference in your spending habits. Keep in mind that supermarkets are aggressive when it comes to marketing products and you may end up with things you don’t really need if you’re not careful.
8. Go Meatless
The price of meat has been steadily on the rise year after year. So, eating more plant-based meals is an excellent way to save money. If you cannot commit to an entirely vegan or vegetarian lifestyle, consider making meat a smaller part of your meals. By embracing plant-based foods, you can enjoy tasty meals at a fraction of the price.
9. Collect Your Loose Coins
This can be as simple as adding all your loose change to a jar. Get your family member to do the same and collect any pennies they find lying around. Once the jar is full, take it to the bank and exchange it for notes.
10. Pack Your Lunch the Night Before
Packing your lunch instead of eating out or grabbing something to eat on the run, will help you save money. It’s also healthier for you in the long term, since what you make at home is better for you than anything that’s store bought or made at a restaurant. Also, make it a point to brew your own coffee in the morning rather than spending money at a fancy coffee outlet.
Learn to cut down on your expenses with the super frugal living tips mentioned above. Trying these will save you thousands of dollars in the long run. Simply making small changes can help you be more mindful of your spending habits and lead a happier life. Take steps to Live more frugally to be financially savvy and put money back in your wallet.