Hey there! Are you someone who’s looking to save some cash by living frugally?
If so, you are in the right place.
I’ve compiled 22 legit frugal tips to help you manage your finances better and make your dollars go further than ever.
Before we start, it’s crucial to understand that saving money doesn’t mean sacrificing your lifestyle or living like a hermit. Frugal living is all about living wisely and simply, maximizing what you have without compromising your quality of life.
By making smart choices, you can enjoy the things you love while still being mindful of your expenses. With the right knowledge and strategies, you can make your money work harder for you.
These 54 frugal tips can be used by anyone, regardless of their income or lifestyle. Whether you’re saving for emergencies, paying off debts, or simply building your savings, there’s something here for everyone.
So grab a cup of homemade coffee (I’ll even show you how to save on that!), and learn how to save money like a pro.
Table of Contents
Use cash instead of credit
While using cash might seem a bit old-school, it can be a surprisingly powerful tool to avoid unnecessary spending and boost your savings. (Studies show that people tend to spend more freely when using cards. )
Cash is a tangible form of money. Seeing the bills leaving your wallet can make you more aware of how much you’re spending.
But with credit cards, it’s easy to lose track of how much you’re spending since you’re not physically handing over cash.
So, if you’re looking to save money and take control of your finances, consider using cash instead of your card. Start by setting a budget and withdrawing the amount you need for the week. Then, challenge yourself to stick to it. You’ll be surprised at how quickly you start seeing the benefits.
Meal Plan Like a Boss
Meal planning is a smart move if you wanna save money and still eat good stuff.
First, sit down and plan out your meals for the week. Check what you already have and make a list of what you need. Stick to that list when you go shopping to avoid buying extra stuff you don’t need.
Here’s the real trick to saving cash: buy things like rice, pasta, beans, and frozen veggies in bulk when you can. They’re cheaper that way and they last longer. Also, try to plan for leftovers. Cook a bit extra and enjoy it for another meal the next day.
Be flexible with your recipes. If something’s on sale, switch up your plan to include it. And simple meals like soups, stews, and stir-fries? They’re cheap and you can throw in whatever you’ve got lying around. With some planning and a bit of creativity, you can eat well without spending a ton.
You can find guides and recipes for meal planning all over the internet.
Batch Cook Meals
Batch cooking means preparing large quantities of food at once, and then portioning it out for future meals.
First off, batch cooking helps you save money by buying ingredients in bulk, which is often cheaper. Plus, when you cook in batches, you’re less likely to waste food because you can freeze leftovers before they go bad.
No more last-minute takeout or pricey restaurant meals. Because even if you come home tired from work, you have a freezer full of homemade, ready-to-eat meals waiting for you. Sounds dreamy, right?
Reduce meat consumption
Meat tends to be one of the most expensive items on your grocery list.
By swapping out some of those meat-heavy meals for plant-based options like beans, lentils, tofu, or vegetables, you can lower your grocery bill.
Instead of buying that expensive steak or chicken breast every week, try incorporating more meatless meals into your routine. You might be surprised at how much you can save over time.
Stop buying processed food
Yeah, you heard me right.
Those pre-packaged foods may seem convenient, but they’re eating away at your wallet. Think about it: those fancy labels and flashy packaging? You’re paying for all that marketing.
Instead, opt for fresh ingredients and cook from scratch. Not only is it cheaper, but it’s also healthier too. Plus, you’ll have total control over what goes into your meals.
Buy Generic
Whether it’s groceries, medication, or household items, generics often offer the same quality as brand names but at a lower price point.
When you buy generic, you’re paying for the product itself rather than the fancy packaging or advertising costs associated with big brands.
This means you can get similar or sometimes identical products for a lower price.
Buy In Bulk
When you buy stuff in bulk, whether it’s groceries, household items, or office supplies, you’re actually paying less per unit.
For example, buying a big bag of rice or a bulk pack of toilet paper can be cheaper than buying individual items.
Retailers often offer discounts or lower prices for larger quantities because it’s more cost-effective for them to package and sell items in bulk.
Plus, it saves you multiple trips to the store, which means you’re saving not just money but time and effort too.
Whether it’s stocking up on non-perishables like rice and beans, or buying paper towels and toilet paper in bulk, the savings can add up over time.
Just remember to check the expiration dates on perishable items and make sure you have enough storage space.
Make Your Own Condiments and Sauces
With just a few simple ingredients, you can whip up your own versions that taste just as good, if not better!
Take ketchup, for example. All you need is some tomato paste, vinegar, sugar, and spices. Mix them together, and voila! You’ve got yourself a homemade batch of ketchup that’s way cheaper than the store-bought stuff. The same goes for barbecue sauce, salad dressings, and even hot sauce.
Host Potluck dinners
Instead of shouldering the entire cost of a fancy dinner, you invite your family and friends to bring their own signature dishes.
Everyone gets to showcase their culinary skills, and you get a diverse spread without burning a hole in your pocket.
So, next time you’re planning a get-together, consider the potluck route.
Use coupons
You can find coupons for groceries, clothes, electronics, dining out, and pretty much anything you can think of.
The best part? It’s super easy to use them. Just find the coupon for the item you want to purchase, present it at the store, or enter the code online during checkout, and bam! Instant savings.
You can find coupons in newspapers, magazines, online, or even on your phone through apps.
They come in all shapes and sizes, from online promo codes to old-school paper cutouts.
The money you save by using coupons adds up over time. It’s like getting free money back into your pocket.
Comparison Shopping
When you need to buy something, whether it’s a new gadget, groceries, or even a pair of shoes, don’t just settle for the first price you see. Take a little time to check out other stores or websites to see if you can find a better deal.
Let me break it down for you: Say you’re eyeing a new laptop. One store might be selling it for $800, but if you look around, you might find the exact same model for $700 somewhere else. That’s a cool $100 saved, just for doing a bit of homework! And it’s not just big-ticket items; even everyday purchases can add up over time.
Some price comparison websites notify you if there is a new discount or a price drop for an item you saved. You can also find coupon codes on these sites as well.
Here are some great price comparison websites you can use to save money.
Shop at discount stores
Discount stores offer a wide range of products, from groceries to household items, at significantly lower prices compared to traditional retailers.
By shopping at discount stores, you can stretch your budget further and get more bang for your buck. These stores often carry name-brand items at a fraction of the cost, allowing you to enjoy quality products without breaking the bank.
Use Cashback Apps
Cashback programs give you money back on your purchases just for using them.
Here’s how it works: You download the app, link it to your bank account or credit card, and then browse through the offers available.
When you find something you want to buy, you purchase it through the app or upload your receipt afterward. Then, the app gives you a percentage of the purchase price back in cash. It’s like getting paid to shop!
Cashback apps partner with retailers and brands to offer these deals, so you can find offers on everything from groceries to clothing to electronics.
Some apps even offer bonuses or special promotions to help you earn even more cash back. It’s a simple way to put a little extra money back in your pocket without any extra effort.
Plus, with so many different apps out there, you can shop around to find the ones that offer the best deals for your favorite stores.
Borrow Instead of Buying
Borrowing allows you to access items or resources temporarily without the commitment of purchasing them.
Think about it like this: instead of spending money on something you might only need once or twice, you can borrow it from a friend, family member, or even a local lending service.
This could be anything from a power tool for a home improvement project to a book for a class you’re taking.
Libraries are a classic example of borrowing without buying. You can borrow books, movies, and even digital resources like e-books and audiobooks for free or for a small fee. It’s a cost-effective way to access a wide range of materials without cluttering up your home.
Use Public Transportation
When you use public transportation, you’re only paying a fraction of what you would spend on driving your own car. (Think about it: no gas, no car insurance, no maintenance costs. It all adds up, right?)
Plus, you can say goodbye to those crazy parking fees and tolls. Public transportation passes often come with discounts for regular riders, making them even more affordable.
And hey, let’s not forget about the environmental benefits. By ditching your car and hopping on a bus, train, or subway, you’re reducing your carbon footprint and helping to keep our planet a little greener.
Cancel Unused Subscriptions
According to this article by CNBC, 1/3 of customers underestimate how much they spend on subscriptions by $100 to $199 EACH MONTH!
And 42% have forgotten that they’re still paying for a subscription they no longer use. That’s an insane waste of money if you ask me.
So, what’s the solution?
Start by taking inventory of your subscriptions.
This includes everything from streaming services like Netflix and Spotify to meal delivery kits, gym memberships, magazine subscriptions, and software services.
Once you’ve compiled your list, it’s time to assess each subscription’s value and utility. Next, take a good look at your list of subscriptions and cancel any that no longer serve you or that you can live without.
Reduce or eliminate alcohol and tobacco consumption
First off, alcohol and tobacco aren’t cheap to begin with.
Plus, they’re loaded with taxes that only make them pricier. And let’s not forget about the long-term costs to your health. Medical bills related to smoking and drinking can really put a dent in your bank account.
By reducing or even eliminating alcohol and tobacco from your life, you’ll not only save money on the products themselves but also on potential health care expenses down the road.
Cancel Gym Memberships
If you’re finding it tough to justify the monthly expense or simply not using the gym as much as you thought you would, it might be time to reconsider your membership.
There are plenty of ways to exercise for free or at a lower cost, like jogging in the park, following home workout videos, or joining community fitness classes.
Cancelling your gym membership could be a smart move if it helps you save money without sacrificing your well-being.
Use Refillable Water Bottles
The average price of bottled water is US$2.02 per bottle. If a person buys one water bottle per day, they will spend around US$737 a year.
That’s why you should invest in a good quality refillable water bottle instead. You can fill it up at home, at work, or at water fountains for free.
No more shelling out money for single-use plastic bottles that just end up in landfills anyway. Plus, most refillable bottles are durable and can last you a long time with proper care.
Use Reusable Menstrual Products
Think about it: every month, you’re spending a lot of money on disposable pads or tampons, right?
But with reusable menstrual products like menstrual cups, cloth pads, or period underwear, you make a one-time investment that lasts for years.
Here’s the deal: while the upfront cost might seem a bit higher, reusable products can save you a ton of money in the long run. Just imagine not having to buy pads or tampons every month!
Invest In a capsule wardrobe
A capsule wardrobe is all about owning a limited number of versatile, high-quality clothing items that can be mixed and matched to create various outfits.
instead of constantly buying trendy pieces that go out of style quickly, you can focus on timeless classics that never go out of fashion. By carefully curating your wardrobe, you’ll end up spending less on clothes overall.
Plus, having fewer items means you’ll wear out your clothes less quickly, so they’ll last longer. That translates to fewer trips to the mall and less money spent replacing worn-out garments.
Investing in a capsule wardrobe also forces you to be more intentional with your purchases. You’ll think twice before buying something new, which means fewer impulse buys and more money saved in the bank.
Shop Second hand
Whether it’s clothes, furniture, electronics, or books, buying used items can help you stretch your budget further.
Think about it: when you buy something brand new, you’re often paying a premium price just for that shiny packaging or the satisfaction of being the first owner. But with second-hand items, you can find great deals on quality stuff that’s still in good condition.
And don’t worry about sacrificing style or quality—there are plenty of thrift stores, online marketplaces, and consignment shops where you can find unique and well-maintained items.
Here are some online stores that sell secondhand goods:
- World of Books (Books, CDs, DVDs, and Video Games)
- ThreadUp
- Poshmark
- Goodwill
There we have it. 22 frugal living tips to help you make the best use of your money and achieve financial freedom.
Try these frugal living tips and watch how much money you can save without making big changes to your lifestyle
