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First off- let me clarify one small piece of information- living frugal is not being cheap or being a cheapskate!
Being frugal does not mean that you live like a minimalist either nor does it mean that you can’t enjoy life. I have seen a couple of clips from the Extreme Cheapskate Tv show- and it isn’t pretty! Frugality is actually the opposite.
What does Frugal living even mean?
My short answer to this is frugal living is limiting on your waste, increasing on the value of the things that you spend your hard earn dollars and dismissing the thought that money is equal to happiness.
There I said it! We may all have different definition of frugal living but it all comes down to making smart decisions on what and how we spend our time and money to achieve happiness and freedom in a healthy way.
Here are a few frugal habits that will keep thousands in your pocket.
1.Do your own repair
Doing any form of repair will no doubt cost you money. Get ready to spend money the minute that you call a technician to come to your place Whether it is a big job or a small repair, my advice to you is to first try to go the DIY route.
There are several free resources which allows you to learn how to perform your own repairs around the house. The biggest one is YouTube. YouTube these days has all types of “how to” videos which allows you to learn anything that you want. From learning a new language to replacing a faucet.
Home Depot is another option. They provide small and free workshop to install several of the product that they carry. Another option is to use the expertise of a family member.
A couple of months ago, I was able to save hundred of dollars with the help of a family member who efficiently replaced a kitchen sink for me and save me a bunch of cha ching!.
One small tool you may want to invest in which will save you thousands of dollars in any repairing project is a good home Improvement tool kit which will come in handy.
2.Cook your own gourmet food at home
Raise your hand if you love going to a fancy restaurant to eat a delicious meal and to be catered to. I know that I do.
Unfortunately, whilst these meals are mouth watering, their prices are double or triple the prices of the ingredients itself.
To enjoy the same luxury of dining out while on a budget, you can simply get a cook book or recipe book with the dishes that you would like try and DIY. I can almost guarantee you that it will taste even better than the restaurants.
3.Limit on kids expenses
Ok now, we all love our kids to the moon and back, but this does not mean that we need to buy them all the latest toys and gadgets. Kids these days have a short attention span and gets bored quite easily.
Most of the time kids, play with their toy for a few minutes. They have no clue if the toy is brand new or not. My youngest son seems to prefer the cheapest noise making toy instead of the shining expensive one.
So. buy the used toy and save your money on something else that is needed and you won’t regret it.
4.Think twice before shopping
I mean who doesn’t like shopping or spending money on stuff that we may or may not need?We all do.
Most of the time we are flabbergasted by an ad that we saw on television or a product that has been recommended by a friend or colleague. And to make matters worse, we regret the purchase the minute we get home.
Stop going to the mall! Stop watching these tv ads and think twice before shopping. I normally ask myself; do I really need this item? Or do I need to replace an item, how often will I use this product or can I not get a cheaper version.
Before obtaining the product that you want to buy- go home and sleep on it and determine if you should buy the product the next day. If you decide not too- that cha-ching in your pocket.
5.Stay home and be entertained
Today, especially during the Covid-19 pandemic, there are several new ways to entertain you and your family without breaking the bank or putting a dent in your pocket.
Staying home and finding creative ways to entertain yourself can be more fun than you realize. You can try activities such as karaoke, backyard barbecue, games night, biking etc.
Movie night can be streamed from Amazon or watched from Netflix with popcorn and chip or even preparing your own cocktail right from your bar if this is what you are into.
To get some ideas of activities that can be done check out my post Summer activities for the kids. Live frugally by skipping the bar or club night and it can be rewarding if you are committed to it.
6.Shop at thrift and consignment stores.
Many people would opt out of thrift shopping. But why not shop for a second hand item or an antique good in a thrift store? Is there really a different when a coworker donate their used kids toys to you and you purchasing the toy from a thrift store?
Besides saving money, there are benefits to thrift shopping such as obtaining vintage and name brand product.There are also new products at some of these stores and did I mention that they were also cheaper than regular stores..
It may also be comforting to know that the rich ones also shop in these very same thrift store to keep more of their money in their pocket. So before heading out to purchase an expensive new toy, take a detour to the thrift store.
7. Use the library or community resources
Perhaps you;re taking a course and you need a text book or you’re in the mood for swimming, consider using the public library or your local community center where it is free or it is a fraction of price of somewhere else.
During my MBA studies, I borrowed most of my textbook from the libraries and renewed them until my course ended. I saved a brunch of money on text book this way and still received passing grades.
Books, textbooks and magazines are now getting more expensive than ever. Especially if you as an adult, is taking up night school or a specialty course and have other bills to pay.
8 out of 10 tens, the school library or the public library will carry the very same text book or a previous edition of it.
8. Buy in bulk
Buying in bulk is one of the most important lessons of shopping. The goal here is to ensure that the cost per unit is as low as it could possibly get.
The ideal time to buy in bulk is when the items are on sale. Try purchasing an item in bulk when you know that you consume a lot of the product and the likelihood of it to run out is high.
Also, ensure that you have enough space for it. Doing so will ensure that you save you a few bucks.
9.Lower your cell phone bill
Lowering your cell phone bill is a must in living frugal and saving money. Think about it, some of our cell phone plans consist of unlimited incoming and outgoing calls, unlimited data, unlimited messaging etc.
Do we really use up the entire plan every month? 1. There is WIFI on every corner 2. We also have WIFI at home 3. We have access to the internet and a phone at work.
We can also use apps such as WhatsApp to make calls if there is an emergency. When do we really need so much data or usage?
I completely understand if you have a long work commute and wants some form of distraction to make the time go by or you work on the go.Besides this, most of the time, having an unlimited usage plan is just another way of grabbing your money.
10. Cancel Cable and other subscriptions
The biggest alternative to cable is Netflix. Having cable means that you are bound to have many unwanted channels or your TV shows will be bombarded with commercials.
I mean who wants to pay a hefty monthly bill for commercials and channels that you don’t use.
By switching to Netflix which is way cheaper than cable, you are bound to save money, save time and choose the shows that you want to watch.
11.Pack your lunch box to work
This one is a given. Today an average lunch in a downtown area cost more than 10 bucks a day.
This can add up on a weekly basis when you also want to get a snack in between meals.
Forget that!All you need is some lunch containers , to carry your lunch to work and this can potentially save you hundreds of dollars.
12. Use coupons and samples
Who doesn’t like saving money with coupons. Coupons literally saved my soul when both my sons were born. From formula, diapers, wipes, groceries to toiletries.
I tried to pick up as many coupons that I could lay my hands on and tried many different formulas samples and saved quite a bit of cash. Many companies out there want to grab the attention of consumers and will include coupons and samples in their marketing strategies.
There are also many online sites which offer coupons based on country, products etc. Click here to obtain your coupons. Trust me they will save your life and your purse!
13.Get washable diapers for your baby
On average a baby uses from 6 to 8 diapers a day and approximately 56 diapers a week. That’s a lot of diapers.
In other words, that’s a lot of money going into the garbage. What you can do is to try the cloth reusable washable diapers whereby you can wash and reuse. them People are now getting smarter and more and more parents are turning to these washables to save on money.
The good thing is they now comes in different styles and color and no one will even notice that they are cloth.
14.Limit on the number of rooms that your use
Limiting on the number of rooms that you use to save on hydro during the winter is truly frugal- The winter months can be brutal especially on the hydro and our wallets in Canada.
When it comes to the winter, there’s nothing we can do about it except to remain as warm as possible. This does not mean that we need to break our bank account for it.
What we can do however, is to limit on the number of rooms that are kept heated and at which temperature. Whichever room is used the most can be the main room which utilizes the most heat.
15.Use portable heaters
Another frugal tip is to use a portable heater to heat up the rooms with base board heaters especially when there are not too many family members occupying the room.
This can be a great way to cut on your monthly bill and keep your cash in your pocket.
16. Use power bars and LED bulbs
Using energy saving power bars and LED bulbs can potentially cut your bill in half believe it or not.
These are made to save on energy and give off light in an efficient way.
Not only that, but it is also environment friendly and they last longer as well. So, it is a win-win- it last longer and cut the bill in half!
17. Walk or bike
Walking or biking is a must if we want to save our hard-earned money.
There are so many benefits that it is a win -win for everyone.It saves on gas expense, it is a great form of exercise which saves on gym membership, it saves on car Insurance and all other costs associated with owning a vehicle.
Apart from house and energy cost, our vehicles are the next largest expense that puts a dent in our pocket which leads to the next frugal living hack.
Try biking to work, the grocery store, the park etc.All you need is a good bike and you’re well on your way to cutting down on expense and saving time.
18. Suspend your Car insurance
There are lots of insurance companies out there, which offers a program which allows you to suspend your insurance for a period of time especially during the Covid-19 pandemic.
If you do not want to fully give up your car but would like a break from its expenses-parking it up for a period may be the way to go.
This is ideal during the summer months where you can walk jog or bike and if you can handle it- why not continue in the winter time? Taking this frugal route is sure to guarantee you some extra saving.
19. Make your own coffee and smoothies at home
Yes, we all love a delicious cold healthy smoothie or a cup of coffee to wake us in the morning before starting our day. Why not, right!
Oh you can, but these costs can add up very quickly. A simple solution to this is to purchase a small coffee maker with a coffee mug or a small blender to DIY. We can prepare it at home or at the office.
Some companies even provide their employees with a coffee machine in their lunch room in order to eliminate their employees from spending on coffee.
20 Shop around for your groceries and stick to your grocery list
In this covid-19 pandemic era, our grocery bill is one of the highest bills that we now have on a monthly basis.
The price of food has now increased significantly and as a result having a grocery list and shopping around is mandatory if we want to stick to a budget.
There are now apps which can be used to compare prices of groceries.
Some companies match the price of the product if their competitor has a lower price for the same product. Another option is to sign up for the weekly flyer to get an idea of which items are on sale.
21.Get a Brita water filter instead of purchasing bottled water
Buying cases of bottled water can be quite costly especially if you have a big family with kids.
To decrease on your expense, consider buying a Brita water filter where you can get the same refreshing water and it can last longer .All you need to worry about is replacing the filter ever so often.
Another plus to this is that, it is much better for the environment and saves you money too
22.Do your own hair and nails
Who doesn’t like getting their hair and nails done and get all pampered up. We all do. But it comes with a price!
Getting your hair and nail done can cost a fortune especially if it is done too often. What I also find is that it can really addictive since most of us use it as a form of destress. If you looking for ways to destress read up on my article which provides a few ways to unwind .
But this therapy does not have to put a dent in our pocket. One alternative is to learn to do it yourself, get a family member to help, watch a video to learn how it’s done.
I can assure you, that you will look at if you just returned from the salon.
23.Substitute the barber with dad’s haircutting skills
When I was growing up, my parents were the official barber of the family, and they were damn good at it. Taking your kids to the barber every two weeks or month can be a never-ending expense since our kids hair grows back so fast.
That’s where dads come in! A hair clipper can do wonders for you. If dad is not too familiar with trimming the kids hair, a few videos could help and barber lessons would be BONUS.
24. Do laundry and showers in the evening.
One frugal trick that we all may have heard of is to do your laundry at night or on the weekend.
Laundry can take up some space both in your water bill and your electricity bill. Do your laundry after 7 pm and on weekends using an energy efficient machine which is the low peak time of use.
At this time, the cost of electricity is the lowest of the day and would be ideal if you love long showers with an energy efficient shower head.
25. Use DIY laundry products
Use homemade laundry products instead of the commercial kinds. DIY laundry products such as vinegar, baking soda and salt is an excellent way to cut down on your laundry cost.
It is not only better but it is chemical free making to safer and harmless to the skin.
So the next time, you think of doing your laundry, try a homemade detergent and you will not regret it.
26.Use cloth drying rack
In addition to doing laundry on a weekend- you can take it one step further and get yourself a clothes drying rack which can be used in the backyard.
Using a dryer is one of the number one cause of high electricity/hydro bill. Did you know that any appliance which gives off heat takes up the most electricity?
Well, these cloth rack will works wonders during the hot summer days.
27. Travel during the off season
Travelling during the off season is a frugal habit that everyone has to take advantage of. We all need a vacation once is a while but we all have other items on our budget.
There is huge price difference in off season prices and high season. Not only with the flights but with the hotels as well.
Also try using Air bnb accommodation which is way less than hotel accommodation. Not only will you have a better vocation but more money to spend as well.
28. Grow your own vegetables garden
Growing your own herbs and vegetables may cut your grocery bill in half. Herbs and vegetables take up almost half of our grocery shopping.
A few garden boxes will be ideal for growing the most used vegetables such as green onions, lettuce, spinach kale etc. Last summer, I filled my backyard with herbs and vegetables and saved a bunch of money.
Not only does that but it can be organic and healthier too.
29. Do not throw away anything.
In our society, we waste a lot of food, furniture and many other valuable stuffs because of our change in wants and taste.
Living frugal means that we only purchase what we need and waste very little. One very useful habit that you may want to consider is having a freezing system whereby, you can freeze your fruits using freezing bags.
If you purchase some fruit and veggie on sale in bulk, freeze them before they get wasted.
For unused furniture, you can earn some extra cash by selling it on Facebook, Kijiji or craigslist and get some of your money back.
30.Never pay full price
Another habit that you can do to save money is to try not to pay full price for any item. Frugal living means changing your mindset into become a bargain hunter!
Yes, I said it. Use your negotiating skills or maybe coupons to purchase any item below the selling price. 7 out 10 times, you will be able to purchase the item at a reduced price than the selling price.
Now this list is by no means all the ways in which you can save money. If you do have an idea on how to live frugal to save money, please drop us a line or leave in the comment section.
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If you buy things you don’t need, soon you will have to sell things you need.
Warren Buffet
