Best Ways to Save Money Living a Frugal Life

If you can implement easy frugal ways to save money, it means more money in your pocket. Who would not want that? In this post, I’m going to share some money saving ideas.

Hold your horses – this doesn’t mean you have to give up on all enjoyments in life or lead a miserable life of extreme frugality. You can have your cake and eat it too!!

• Also Read – How to Save Money on Destination Wedding – Budget Tips

It may involve a change in your standard of living, but you soon get used to it. Minimalism is all the rage these days. It simply means that you put more thought into possessions and try to live a smaller and simpler life. It’s a powerful way to live frugally and save money.

I agree that it is difficult to change a lifetime of habits overnight. You need to cut back and make some changes to your spending pattern. How to live frugally and save money? It all boils down to mindful spending and giving up mindless spending.

Ways to Save Money Living a Frugal Life

1. Shop Smart to Save Money

Yes, you can save money in your regular grocery stores, just by shopping a little differently.  On an average, the American family spends around $151 for food in a week, according to Gallup.

• Create a list of what you actually need for the week or the month. Avoid impulse buying.
• Don’t stock pile. Take stock of your inventory and pantry to know what items you can skip if you are interested in frugal ways of living.
• Plan your meals based on the sale at your shopping place. Many people make a weekly plan of food and then start looking for related deals. Do the opposite, be frugal and save money. Look for deals and then plan your meals for the week based on what’s available for sale. You can reduce meal prices by half this way.
• One of the best frugal ideas to save money is to search for coupons or discounts and load them on your store card. You needn’t use these right away.
• Buy seasonal veggies and produce, as an important part of thrifty living.
• Don’t toss away food. According to the National Resources Defense Council, most American toss away around 25% of their groceries. Use the food in the pantry or fridge wisely and place those that will soon expire on the front, so that you can eat them before they rot (Sites like SuperCook can help you match dinner recipes with what you have in your pantry) Invest in a deep freezer, so that you can store and freeze food.
• Look for lower priced alternatives in food items at dollar stores or discount stores.
• Reconnaissance work: check out the prices of some common food items like milk, detergent, cereal and do a comparison at the stores near you. Try shopping at places where the rates are lowest.
• Cheap living involves stocking up on items when they are sold at rock bottom prices.
• Be smart while shopping. Take a small shopping cart, do a self checkout, so that you are not tempted to buy items at the checkout stands.

2. Changing Over to a Frugal Lifestyle

• Make clear monetary goals about payment of debts, mortgages, loans, saving for retirement and so on. It makes it easier to work towards clearing them.
• Keep a weekly or monthly budget of expenses. Frugal living involves knowing where the money is going in order to cut down on the expenses.
• One of the top frugal ideas is that you must never compare your lifestyle with that of others. Never try to catch up with the Joneses. Be happy with whatever you have and what you can afford.
• There are several ways to save on a shoestring. Eat at home as far as possible. Make foodstuff at home instead of buying them.

• Even if you do go out occasionally, make use of coupons or choose less expensive restaurants.
• If you’re eyeing that car which is clearly beyond your means, learn to say a firm no to yourself. Buy a smaller one that fits your budget, as it is one of the easy ways to save money.
• There’s no need to opt for the biggest house available. Try to be happy with a smaller, more affordable one. Know your priorities, which include financial security for the future.
• Try living close to work, pack your lunches, do workouts at home instead of paying for a gym and opt for car pools to save money. Live frugally and save money.

3. Save Money on Utilities

You can lower the monthly bills by saving money on these utilities. It’s an important aspect of frugal living tips.

• One of the frugal living ideas is that you could turn the thermostat up during summer and turn it down in winter, when you are not at home. It results in reduced energy consumption. You can always change it when you’re back home.
• Unplug appliances, like the television, when not in use, as they can still draw electricity. Shut off everything when you leave home. Turn off all the lights.
• Don’t pre rinse dishes while using the dishwasher. You are simply wasting water and money. Just scrape off excess food and load the dishwasher.
• Use energy efficient gadgets and appliances. They can make a lot of difference to your utility bills.
• If you have a mobile phone, a landline bill is a luxury. Shut it down.

Summing Up

Living a frugal life doesn’t mean that you have to deny yourself all the pleasures of life. You can indulge occasionally on something that you really care about.

Give yourself and your family a treat once in a while.  Irrespective of whether you are single, married or have kids, you can still live frugally, save money and pay off your debts.

Create a budget and your personalized strategy, keep expenses minimum and remain focused. With some discipline and a bit of dedication, you can see the results.

Every dollar counts. Remember the old but nonetheless very true cliché your grandma never got tired of repeating: Money doesn’t grow on trees.