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Sunday, April 17, 2016
The Ultimate Frugal Living Guide
When it comes to spending less and saving more, there are many ways to get financially fit, but some are much easier to accomplish than others. We’ve put together the ultimate frugal guide for people who are excited about saving money and really want to do whatever it takes to whip their finances into shape. Check it out below.
1. Know Your Money
By whatever means necessary, become incredibly well-acquainted with how much you earn, how much you spend, and where every dollar goes. It’s the basis of frugal living. Without this baseline comprehension, successful budgeting and saving will always be out of reach.
2. Know the Difference Between a Want and a Need
Let’s face it: Being able to differentiate what we want from what we need is a requirement for making wise buying decisions. If you can’t master this skill, your needs will be endless and your paycheck will never keep up.
3. Avoid Consumer Debt
Frugal friends know it: Interest on consumer debt is a tax people pay for living outside their means. And while a credit card can save the day from time-to-time, embracing easy credit as a way to pad your lifestyle can have devastating consequences. Interest and other charges will bleed your budget and choke your chances at real financial well-being.
4. Dry your clothes on a line
You can save around $100 a year or more if you hang your clothes up to dry on a line. If you don’t have a yard, you can hang them up in your apartment too.
5. Make your own laundry detergent
Did you know that you could actually make your own laundry detergent? It’s really astounding because you can see exactly what goes into it, which creates a healthier environment in your household.
6. Take public transportation
Gas and parking passes get so pricey, especially if you use your vehicle every single day. Do some research to find out how much your local bus or subway costs. You might be surprised at how much you save. Also, ask around your work to see who might want to share a ride with you.
7. Make every gift you give
With the fame of websites like Pinterest, there is no lack of ideas for handmade gifts. All you have to do is search for crafts or gift ideas, and you’ll have hundreds of remarkable tutorials and concepts at your disposal.
8. Give up your smart phone
You can also save hundreds of dollars a month on your cell phone bill. If you really, truly want to save money and penny-pinch, this is the way to do it.
9. Become a coupon expert
All it takes it a little bit of time and practice to learn about couponing. You can save hundreds of dollars on groceries this way, so it’s definitely worth the time you put into studying about it!
10. Grow your own food
Think of how much money you’ll save if you grow your own tomatoes or herbs. Plus, you’ll have awesome, fresh-tasting veggies to put in your dinner, which is great for both your wallet and your waistline.
11. Give up cable
Today, you can catch all of your beloved shows on your computer, so there is no reason to pay $100 a month for cable. Plus, watching TV takes up valuable time that you could be using to hustle and make some money.
12. Cook more meals at home
Eating out is definitely a drain on your budget. If you start to cook in more, you can save hundreds of dollars a month.