30 WAYS TO ADOPT FRUGALITY OR FRUGAL LIVING
Frugal Living or Frugality often considered as a negative term or sometimes relate it to cheap and tightwad. Frugality is considered as living poorly and being tight about every penny. But it is absolutely wrong.
WHAT IS FRUGAL LIVING?
Definition of frugality or frugal living varies from person to person, but in general, it basically means “be a little bit more concern towards your expenses and not spending money almost like crazy”.
In simple words, frugal living is being intentional with your money and other expenses.
Remember frugal living is certainly not about poor living, that you cut out your basic needs in order to save. It simply means differentiating between wants and needs and spending money on what is needed and be a little careful about your money.
Frugal living is prioritizing your needs over your wants, and remember that it is not scarifying what you need or what you love, it’s just a way to cut out the list of unwanted wants and saving money.
BENEFITS OF FRUGAL LIVING
There are certainly lots and lots of benefits of frugal living and some of the most noteworthy are given below-
1. Less Spending more saving
2. More savings means less stress of money
3. Helps in achieving financial freedom
4. Maximize Retirement Investment
5. Have enough money to quit the job you hate
6. It frees up your time
7. You get rid of waste
So it must be your question that if frugality has this much of benefits, so what are the tips of frugal living and how a middle-class person can acquire frugality.
Well before it you should be well aware that frugality is not at all an approach to living poorly. It is more of a way of life where you are trying to save some extra money to your account. Being frugal is not at all related to being poor.
30 WAYS TO ADOPT FRUGAL LIVING
1. AVOID WASTAGE
Avoid wastage of any kind of material, be it food, water, or anything. This not only saves you more money but also help the environment.
2. EAT AT HOME
We often spend lots of money eating out at least once a week. Now, what if you decided to eat at home lets think about how much money you can save just by changing one habit.
3. STICK TO YOUR BUDGET
People often create their budget monthly, but sometimes they fail to manage it. And due to this their whole expenses outburst. Stick to budget require lots of efforts and keeping it real is one of them. But once done it is better and easy to manage your budget and money.
4. AVOID SHOWING OFFS
Spending money just showing other people how rich you are in the most stupid way of wasting money. Avoid showing off as much as you can and learn to live a simple life.
5. PURCHASE IN BULK
We have often heard of a term WHOLESALE. Whenever we buy something as a whole it cost us relatively less. We should increase buying in bulk to save some money.
6. MAKE YOUR OWN FOOD
Often ordering food from nearby outlets or food branches can certainly put your wallet in tension. Make your own food, it will be healthy as well as pocket-friendly.
7. USE MORE PUBLIC TRANSPORT
Frugality is basically saving more and in the process of saving more, we should use more public transport than a private vehicle. Focus on using public transport as much as you can.
8. AVOID SALES
Sales are often be considered as a marketing gimmick to attract customers to purchase their service. Sales sometimes encourage you to buy the stuff you actually don’t need but just it is discounted you end up buying it. BUY IT WHEN YOU REALLY NEED IT.
9. SAVE MORE THAN YOU SPEND
Having a fixed budget plan is very necessary. Your saving proportion should be greater than the proportion of the expenses. And most important this curriculum has to be followed every month.
10. SAVE FOR EMERGENCY FUND
An emergency never comes by the ringing door well, it can happen anytime and with anybody. Having an emergency fund not only helps you to tackle down the situation financially but also without effecting your present financial condition.
11. QUIT EXPENSIVE LIFESTYLE
Quitting expensive lifestyle includes stopping buying unnecessary stuff stop partying every day and night and a whole lot of expensive items just to impress somebody. It can certainly help you to save extra for a longer period of time.
12. TAKE CARE OF YOUR HEALTH
Yes, you find it in the right place. Taking care of your health should be a priority. We have seen cases where people have to spend tons of money to overcome their bad health. Good health not only saves a hefty amount of hospital bills but also essential for better living.
13. FOCUS ON CASHBACK
Cashbacks are always fun. It’s like earning from something you spend money on just a few minutes ago. There are lots of sites and apps which give you cashback on using their service. Grab such cashback as much as you can.
Following are the sites which provide coupon codes or cashback
2. RetailMeNOT https://www.retailmenot.com/
3. Saving.com https://www.savings.com/
14. SAVE ELECTRICITY
Switching off the lights when you are going out or if not in use can save an immense amount of money. That money you save is ultimately going to come in your pocket as a result.
15. COFFEE AT HOME
We love coffee, every morning the first thing we carve for is coffee, but spending $5 on every cup of coffee can be an expensive idea. it’s better to make coffee at home to make it a little wallet-friendly.
16. AVOID WHAT YOU CAN’T AFFORD
We often spend our valuable money on something we can’t afford, just for the sake of showing off. Stop impressing people by making whole in your pocket, only you have to suffer at the end.
17. BUY USED IF POSSIBLE
Often called 2nd or 3rd hand. Buying used stuff after refurbish is not at all bad options. It also helps in saving a good amount of money. Consider buying 2nd hand stuff it is not as bad as you thought.
18. DE-CLUTTERING YOUR HOME
De-cluttering basically means to remove unnecessary items. There are lots and lots of items in your home which are basically of no use. they are just occupying their space from years. remove them from your home by selling them. It not only creates more space but also some money.
19. CAR FREE DAY
We all heard about it. Having a car-free day at least twice a week could save you some serious money. And moreover important for the environment to avoid a car for a day or two.
20. CUT YOUR OWN HAIR
Maybe you find it strange but yes cutting your own hair can easily save a lot of pence. Once you learn how to cut your own hair, you can avoid those expensive salons and parlor.
21. LIBRARY OVER BUYING BOOKS
The library is a better alternative for those who don’t want to spend lots of money on expensive books. you can visit the library in your free time for reading.
22. AVOID BOTTLED WATER
Bottled water is another money cutter from your wallet. Whenever you are out of home or for every picnic and adventure try to avoid bottled water and carry your own water bottle.
23. QUIT EXPENSIVE ADDICTION
Smoking, alcohol, and many other addictions not only are money-draining but also injurious to your health. Habituation of such habits can sometimes be harmful mentally and financially. So avoid such habits.
24. AVOID EXPENSIVE GIFTS
We often give an expensive gift just to show them our social status, but that is not true. The value of the gift is measure by the feeling through which it sent not the money. Try to present the gift of high value not of high money.
25. FOCUS ON 3R
3R stands to REDUCE RECYCLE and REUSE.
- RECYCLE your WASTAGE
- REUSE your USED STUFF
- REDUCE your EXPENSES
This 3R method is a proven method to save people more money by controlling their expenses.
26. PLAN YOUR TRIP BEFORE
The unplanned trip often puts little extra weight on your pocket. Always plan your trip where to stay what to explore and more. And as a result, you end up saving more than you were expected.
27. NO FIRST/BUSINESS CLASS
If you traveling to short distances or short trip I would advise you to avoid the first/business class. Economic class is relative to less cost and would not make a difference for short trips.
28. WASH YOUR OWN CLOTHES
Washing your own clothes can surely save you a handsome amount of money which you used to spend on laundromat service.
29. MORE DIY
DO IT YOURSELF or DIY is a method of doing a task without depending on another. From coloring the home to repair your bike to clean home to wash clothes on your own can saves you thousands of dollars yearly. Adopt for more DIY.
30. TEACH YOUR KIDS ABOUT FRUGAL LIVING
Your children learn from you. Teaching them about frugality also encourage them to be more conscious about money and help to know the value of money.