Is frugal living worth it?
Yes! If you are tired of letting money control your life, then frugal living is worth it. However, it is critical to look at the positives. If you only look at the sacrifices that come along with frugal living, then you will have a difficult time staying on this path.
Of course, you will have to give things up along the way. But these sacrifices on your journey can add up to larger benefits down the line.
1. Start budgeting
Creating and sticking to a budget is fundamental to your financial success. Although budgeting isn’t necessarily fun, it is a critical piece of the puzzle. Within your budget, you can prioritize things that matter and ruthlessly cut out things that don’t.
2. Meal plan
If you are anything like me, then meal planning doesn’t sound enjoyable. A combination of kitchen fears and laziness led to a lack of meal planning that was burning a hole in my budget.
3. Cook in bulk
In a similar vein, summoning the energy to cook dinner after a long day at work can be next to impossible. Unfortunately, I typically resorted to fast food, which only hurt my budget and my waistline.
4. Take a look in your pantry
The amount of food I keep in my pantry at one time is somewhat embarrassing. But, most people have a similar amount of food lurking in their cabinets. Take stock of what you have on hand. Consider making a meal out of what’s in the pantry or fridge.
5. Check out coupons
6. Sell things you don’t need
Most of us are guilty of having a bit of extra clutter lying around the house.
7. Buy used
When you have the option to buy something used, do it. You can save a significant amount of money with lightly used items. Check around your local thrift stores and online marketplaces to find the item you need at a much better price.
8. Return things you don’t need
Take a look at your recent purchases. Is there anything that you absolutely don’t need?
9. Repurpose the fabulous clothes you already have
There’s probably a bunch of clothes and shoes lost in the back of your closet, begging to be worn again. Organize your closet so that you can find some of these hidden treasures.
10. Buy a car you can afford
A car is a major purchase. In fact, it is one of the largest purchases you will make in your life. With that, it is critically important to buy a car you can afford.
11. Walk or bike when you can
Although having an affordable car is great, walking and biking are much more cost-effective.
12. Shop around for the best insurance
13. Swap out your lightbulbs
LED lightbulbs use a fraction of the energy that a standard bulb uses. Plus, they last many years longer.
14. Evaluate your subscriptions
Are you guilty of having more subscriptions than you really need? Take the time to comb through your subscriptions and decide which ones are worth keeping.
15. Stop impulse buying
Impulse buying has never been easier, thanks to e-commerce. You can find anything and everything at the touch of a button, and before you know it, those late-night shopping sprees cost you hundreds to thousands of dollars.
16. Fun for free
Nothing makes a challenge easier than making it fun. One of the best frugal living tips is having fun for free. There are a ton of free fun things to do, such as going to the park, having a picnic, or having a bonfire are just a few free fun things to do.
by Bola Sokunbi