Making wise financial decisions is a key component of frugal living. Utilizing your resources to the fullest, going without what you don’t need, or making other decisions to obtain more. Making simpler decisions is important for mothers. Meal planning is a great money-saving option because we don’t always have the time to make everything from scratch. We also don’t have unlimited funds to buy everything we want or go grocery shopping every day. Planning ahead, preparing, making do with less, and saving money are all aspects of frugal living.
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How To Start Living Frugally
It takes more than one action to live frugally and save a lot of money. It involves a variety of actions. small steps that result in significant savings. For instance, a working mother may choose to meal plan, swap daycare with a friend, exercise at home, and indulge in cheap Starbucks to get by. Or a stay-at-home mom may cook more meals from scratch, make her own soaps, shop thrift stores, go for walks, grow her own food and make her “Starbucks” coffee at home. We are all different in how we approach being frugal. Saving money or making the most of our money is the aim.
Frugal Living For Beginners
Making small changes can result in significant savings if you are new to frugal living. Analyzing your financial situation is the simplest place to start. Take the biggest “spending” and see how you can decrease it. It was dining out for us. We had a daycare for our children, I worked long hours, and pizza was simple. We started saving a ton of money once I discovered how to meal plan simple family meals. The change was simple, and substantial savings resulted. Get more information on how to begin leading a more economical lifestyle.
Small Frugal Changes Can Add Up
However, you might just be trying to save a little bit more money so you can stop living paycheck to paycheck and not even trying to get rich as your goal.
Even if you only have one income, you can start saving 10%, 25%, or even 50% of your income by altering your spending and saving habits.
Just consider how many small decisions you make each day result in financial waste: a quick burrito bowl from Chipotle here, a takeout Starbucks coffee there, and before you know it, your budget is gone!
It’s not just low-wage workers who are having this problem.
Even high-earners that make $150,000 or more per year are living paycheck to paycheck!
Your ability to save money, not how much money you earn, determines your level of wealth.
Frugal Pro-tip: Focus On The “Big Three” Expenses To Get The Best Deal!
Sports leagues are not the topic here.
The “big three” expenses are the top three most expensive categories costing people money – if you think of your money as a pie, these are the biggest slices of the pie that eat up your money each month.
The big three actually make up about 60% of total spending.
The big three expenses include:
- housing
- transportation
- food
You will often find you get the most bang for your buck by concentrating your frugal living efforts to reduce costs within the big three expense categories.
25 Frugal Living Tips To Get Started
Here are the best frugal living tips of all time; these tips have been used to save money in modern times, and even frugal living tips from the Great Depression.
These tips helped us survive the hardest and poorest times of our lives – now, we want to help you live more frugally!
Don’t Pay Money For Stuff You Can Get For Free
The world is overflowing with abundant free resources – you just need to know where to look for them!
Get familiar with the trash pickup schedule in your area to find free items.
Large-item trash collection should be scheduled for a specific day each week. You can take a cruise to see the incredible treasures people are figuratively throwing away once you determine what day of the week people are trashing their large items.
Bicycles in perfect condition, wood furniture, TVs, and other items are available. Just keep in mind that your car needs to be big enough for you to transport your loot home, and you might need assistance lifting heavier objects.
Finding free goods in your neighborhood has become simpler thanks to the zero-waste and sustainability movements.
Shop Second-hand Items You Need
Every time a new season arrives, I go through the clothes I have for my boys and determine what precisely they will require for their wardrobes. I actually like doing it because it makes me work harder to only purchase what they actually need. It’s actually not that difficult to only buy what is necessary because we already keep their wardrobes fairly simple. I only occasionally buy new clothes for their wardrobes. I’ve discovered that secondhand shops are significantly less expensive, frequently have what I’m looking for, and are typically in excellent condition.
For any additional household items we require, I will also shop at neighborhood thrift stores. Likewise, if I need new clothing, I always check a thrift store first. In the long run, this helps us save money by reducing extra unnecessary costs. You don’t need anything to be brand new to use it or enjoy it, so keep that in mind.
Don’t Be Afraid To Negotiate
An age-old frugal custom is to bargain and negotiate.
Contrary to what salespeople and retail establishments would have you believe, almost everything is negotiable. I have successfully negotiated everything from a 13% pay raise to discounts on brand-name products that aren’t already discounted.
Get Laser-focused On Your Goals
Setting explicit goals for yourself and your family can be a make-or-break moment; people who set clear goals for themselves are more likely to achieve those goals.
It’s often helpful to set one scary-big long-term goal (Speculate on the smaller baby steps you will take to achieve that goal (for example, “I want to retire by the time I’m 40”).
If you have a family, discuss the situation and decide where to make cuts and where to concentrate your efforts on saving.
When deciding which expense categories could benefit from being decreased or eliminated entirely, it is preferable to collaborate. For us, this is grocery shopping.
Plan Ahead
Think long-term at all times as another tip for living cheaply.
Consider how a decision will affect your financial objectives every time you consider making a purchase or altering your spending plan.
You can think of your money in terms of time and happiness. Simply changing your perspective can help you reduce your spending in many different ways.
Track Your Income And Spending
Could you write down all of your monthly bills and expenses from memory if you had to sit down with a pen and paper?
The majority of people actually have NO IDEA where their monthly income is going!
If you do this, set a challenge for yourself to track your spending for a full month, or 30 days, so you can see where every dollar is going.
Meal Plan & Cook From Scratch
I love meal planning, which is unexpected. I never imagined that I would actually enjoy browsing cookbooks and organizing our menus, but I do! Instead of being as stressful as I anticipated, it’s in some ways more therapeutic. Since I began meal planning, we have made significant grocery bill savings.
Since I started meal planning, I’ve also discovered that you need to check your pantry to see what ingredients you need. This prevents you from buying unnecessary items and reduces impulsive purchases.
Utilizing grocery pickup is yet another strategy I use to reduce my impulsive purchases. We go to Aldi, which is a fantastic grocery store. Surprisingly, they are much more affordable than the majority of supermarkets.
Finally, I’d like to mention something else related to this subject. You are less likely to be tempted to eat out or have food delivered, which is a significant benefit of meal planning, in my observation. You’ll probably have leftovers from the previous night’s meal or something that is simple to prepare, if not always.
A good crockpot meal is something else I enjoy putting together. They are incredibly simple, and most days, dinner is already cooking when we need it. Being a mom of young children, I frequently prepare meals in the slow cooker.
Cancel Or Delete Subscriptions
You’ll probably discover a few subscriptions you’re paying for but infrequently using after keeping track of your expenses.
The likes of Netflix or gym memberships are frequent budget-busters.
Cancel any memberships and subscriptions that you don’t use or can be replaced with free alternatives. For instance, you can find a lot of free YouTube workout videos that you can use to stay in shape without having to leave the comfort of your home.
You should also unsubscribe from email lists that encourage you to make purchases.
Unsubscribe from those email lists if you are the type of person who can’t help but buy something when they see a $5 coupon in their inbox to avoid temptation.
When you’re finally ready to spend money, you can quickly search online for the best offers or coupons!
Sell Stuff You Don’t Need
Your home can become happier and richer as a result of a successful decluttering session!
It doesn’t take a rocket scientist to figure out that if you have less stuff, you will spend less time tidying and cleaning up, giving you more time to do things you enjoy.
Downsize Your Home To Save Money
Recall those major three expenditures.
You might discover that you don’t need as much space if you are really committed to saving money and decluttering!
You can save money on all of your expenses by downsizing your home, including your mortgage, utilities, and covert maintenance and upkeep costs.
Save Money With Meal Planning
You can save time and money each week by doing your meal prep and planning.
Meal planning will prevent you from getting bored with eating PB&J sandwiches or red beans and rice week after week. If you prepare your meals in advance, you can cook and freeze a ton of delicious meals to keep your budget in check while still maintaining a healthy diet.
Cut Your Grocery Budget
It makes sense to try and lower your grocery costs because food is one of the biggest monthly expenses.
Find simple strategies for saving money on groceries, such as using coupons or taking advantage of sales. Even without spending hours cutting coupons, you can save hundreds of dollars each month on groceries!
Eat At Home To Save Money
Spend less money by learning to prepare your favorite meals at home.
There are recipes designed to help you prepare delectable meals for $1, $3, or even $5 while staying within your budget.
Play “chopped” In Your Very Own Kitchen
Have you ever seen the cult-favorite cooking show Chopped?
In essence, a team of chefs is given a ridiculously bizarre batch of four mystery ingredients, which they must use to create mouthwatering dishes for the judges.
You don’t need to be a chef to appreciate the fact that getting creative with your cooking can save lots of money! Knowing what you have in your pantry reduces food waste and the likelihood that you will waste money buying more of the same thing.
To cook delicious meals even when you are out of food, make sure you always know exactly what ingredients are in your refrigerator and pantry. Never leave any dry beans uncooked or untested random ingredients!
Even a fun family game can be created from it.
See who can concoct the best meal idea by gathering a few ingredients and sitting down!
While teaching your kids valuable life lessons like problem-solving, how to live frugally, and meal planning, you will save money.
Buy A Used Car
The moment you drive off the lot, a brand-new car loses all of its value, so they are a complete waste.
Finding a good used car instead of a new one can help you save a lot of money.
Focus on reliability and quality rather than going for something flashy – and don’t forget to bargain!
When trying to get a great deal on a car, get multiple quotes and you can even compare dealer offers. Don’t expect to walk away with a great deal at the first car dealership you visit.
Keep in mind that love and money are completely fair.
Explore Other Methods Of Transportation
If you live in a location where biking, taking the bus, or walking are practical options, doing so is almost always less expensive than owning and maintaining a vehicle.
Save Money On Utilities
Your monthly utility bills can be reduced with the help of your daily frugal habits.
These money-saving habits include:
- Turning off or unplugging electronics when not in use
- Switching lightbulbs for energy-efficient LED lights
- Don’t leave the water running when washing dishes
- Hang clothing to dry instead of using the dryer
- Switch to a smart thermostat or program temperature levels yourself to reduce energy
- Check with your utility companies to find ways to reduce costs
- Comparison shop between utility companies
Pay Off Any Debt Asap
Debt is among the most expensive money wasters.
You literally pay 20% more for goods, and all of that extra money goes to your creditors. Yikes!
Tons of frugal living experts say one of the first ways to keep more of your money is to stay out of debt.
Pay off your smallest debt first. Next, transfer the funds you were paying toward that debt to the next-highest debt. This is what Dave Ramsey calls the “snowball method.”
It works!
Make it a point to avoid getting into debt again once you’ve paid off your debt.
Buy Stuff With Cash Only
Do you frequently use money that you don’t have to make purchases?
Cut up your credit cards!
You might discover that you are more selective about your purchases if you resolve to use cash only.
When you are literally giving away your last $20 before your next paycheck, you might start to think twice about using your credit card to make purchases. It’s easy to do this because you have no money to spare.
Find Sneaky Ways To Make Money Even When You Spend Money
You might as well make money from those routine purchases if you’re going to buy socks and toilet paper.
There are many rebate apps available, and using them can help you get some money back.Learn New Skills To Save Money
Learn how to build things yourself or repurpose them rather than constantly buying new ones.
Take a look at YouTube or Pinterest while attempting to fix small issues around the house. To save a little extra money, you can even create your own beauty products for yourself or as a homemade gift.
Build An Emergency Fund
It’s important to have emergency funds.
You can avoid going into debt if you have the resources to pay for things like a damaged air conditioner or a new roof right away.
How much money should you put aside for emergencies?
Some experts say you should try to keep 3 months’ worth of income in a savings account.
Find Free Ways To Have Fun
There are countless opportunities for free entertainment.
Take a romantic home-cooked meal using ingredients you already have, go for a walk or a bike ride, look for free museum tours, or visit the library.
No matter your hobbies or interests there are plenty of free ways to have fun; if you use free entertainment 80-90% of the time, you can still splurge every once in a while, as long as you are smart about how you do it.
Don’t Waste Anything
Once you’ve invested money in something, make a promise to keep using it until it breaks or can no longer be repaired.
Food waste reduction, wearing clothing or shoes until they are worn out or full of holes, getting every last drop of toothpaste out of the tube, and other practices fall under this category.
You’re on the right track if you’ve ever filled a soap dispenser with water to get every last drop out or cut the bottoms off of your kids’ pants to make them into shorts.Make Coffee At Home
Unfortunately, I used to get a coffee to go whenever we went on errands or left the house. Thankfully, I have a nice espresso machine to make the nicer coffee I prefer, but you can still make a delicious cup of coffee at home with a regular coffee maker.
Additionally, putting money aside and investing in a nice espresso machine can benefit your entire family. Which can save you more money in the long run… if you’re like me and want that coffee.
Another tip I recommend, if you do need a coffee to-go, to save your mama sanity for those harder days, you can set a specific “coffee budget” for yourself. We write our budget using this method each month, and it really helps.
Save Your Money
Simply applying the aforementioned advice can increase your bank account, but the true art of frugal living is learned when you learn to refrain from buying everything you desire. I’ve discovered that retail therapy won’t solve all of your issues and that teaching yourself how to budget and save money will have a huge impact on both your future and the future of your children.
FAQs
Does Frugal Living Make Sense?
If any of your life goals include saving money, increasing financial freedom, and being happier, then yes, frugal living is worth it!
Money, or the lack of it, can prevent you from achieving your goals in a variety of ways.
A frugal way of life can not only speed up the process of reaching your financial objectives, but it can also lead to a more fulfilling life.
Here Are A Few Benefits Of Being Frugal:
- You can save money by being thrifty. One of the main causes for starting to live frugally is because of this. A frugal way of life can naturally help you save more money, and if you stick with it, you might even notice that it has a positive impact on other areas of your life.
- Living frugally lowers stress. Living paycheck to paycheck and constantly worrying that you might run out of money is stressful. Your physical or mental health may be impacted by this stress over time. Frugal living not only helps you save money and ease your wealth worries, but it also makes you feel less stressed and naturally happier when you stop comparing your wealth and success to that of others and resist the urge to compete with them.
- It’s environmentally beneficial to lead a frugal lifestyle. When you start living frugally, you automatically help the environment because you will spend less money, produce less waste, and be more aware of your possessions and resources. True frugal living is almost always more environmentally friendly.
- Living frugally can give you more power. Taking charge of your money gives you control over a lot more, including your time, your future, and your happiness. Sadly, even in our “first world” society, a lack of money can hold you back, in everything from being able to afford emergency healthcare to eating healthy.
- Being frugal allows you to concentrate on what really matters. Living cheaply is about producing more of what you want, not about having less.
Doing Frugal Living Is Easy?
Depending on whom you ask, the answer to this query might change!
Living frugally is often not easy, especially if you suddenly make the decision to switch to frugal living after years of being careless with your money and impulsively spending money whenever you feel like it.
However, it doesn’t mean you can’t succeed at frugal living just because you weren’t raised that way!
Can Being Frugal Get You Rich?
Yes, yes, YES!
Naysayers love to scoff about how far frugal living can get you, but there are plenty of rags-to-riches stories that prove otherwise – frugal living can help you get rich!
As a general rule, the self-made rich are frugal – when you look at their overall net worth, most millionaires and billionaires are living well below their means.
