10 Frugal Living Tips Every Savvy Saver Should Embrace

Embrace frugal living and save yourself money

From small, everyday changes to larger, long-term adjustments, finding ways to stretch your money is an important factor in a lot of people's lives. Expenses seem to be going up, but your income is staying the same. It feels like it has never been more important to really think about your finances and spending habits. I will be doing more posts like this one as there are many tips, but for now, here are ten frugal living tips for you to try.

Create A Budget:

A budget will help you track your spending, avoid overspending, and save money for emergencies or future investments. To create a budget, you need to gather all your financial statements and bills, categorise your expenses, and determine how much you can afford to spend on each category. You should also set aside some money for unexpected expenses or emergencies. 

Once you have created a budget, try and stick to it by monitoring your spending regularly and making adjustments where necessary. This will help you achieve your financial goals and avoid falling into debt. You can read the 70/20/10 budgeting post to help you with that.

Cook At Home Instead Of Eating Out:

Cooking at home instead of eating out has numerous benefits. Firstly, it is a great way to save money, as eating out can be expensive. Secondly, cooking at home gives you complete control over the ingredients you use, allowing you to make healthier choices and avoid unhealthy additives and preservatives. 

It can also be a fun and creative activity that allows you to experiment with different flavours and cuisines while also provides an opportunity to spend quality time with family and friends while enjoying a delicious meal together. 

Utilise Sales and Coupons:

Coupons and sales are great ways to save money when shopping. Coupons can be found in newspapers, magazines, online, and even on some store receipts. They offer discounts on specific products or a percentage off the total purchase price. Always read the fine print on coupons to make sure they are valid for the items you want to buy and to check the expiration date. 

Shopping at sales is another way to save money. Many stores offer discounts on certain items or have clearance sections where you can find great deals. Compare prices and shop around to make sure you're getting the best deal possible. By using coupons and shopping at sales, you can stretch your budget further and get more for your money.

Cancel Subscriptions You Do Not Use:

Many people sign up for subscriptions with good intentions but do not get any value out of them. This could be anything from a gym membership that you never use to a streaming service that you rarely watch. By cancelling these subscriptions, you can free up some extra cash each month that can be used for more important things like paying off debt or saving for a vacation.

To make sure you don't forget about any subscriptions, it's a good idea to review your bank statements regularly and make note of any recurring charges. Once you've identified the subscriptions you want to cancel, contact the company directly or use an app like Trim or Truebill to help you cancel them quickly and easily.

Buy In Bulk:

Buying in bulk is a great way to save money on items that you use frequently. By purchasing larger quantities of products, you can often get a lower price per unit, which can add up to significant savings over time. This is especially true for non-perishable items like paper products, cleaning supplies, and pantry staples. 

When buying in bulk, consider storage space and expiration dates to ensure that you don't end up wasting money on items that go bad before you can use them. Additionally, compare prices across different retailers to make sure that you're getting the best deal possible. 

You may also like to read some frugal money tips

Negotiate Your Bills:

Many people do not know that negotiating your bills is a great way to save because. Companies want to keep you and do not want you going to a rival. By calling your provider and asking for a better rate or discount, you may be able to lower your monthly bill and save money in the long run. Always do your research beforehand and compare prices from other providers to ensure that you're getting the best deal possible, and can then also ask your provider if they price match. 

Be polite but firm when negotiating, and don't be afraid to ask for a supervisor if necessary. With a little bit of effort, you may be able to significantly reduce your monthly expenses and keep more money in your pocket.

Stop Your Impulse Purchases:

Impulse buying is a common problem that can lead to overspending and financial stress. To avoid this, it is recommended to wait 30 days before making any non-essential purchases. This waiting period allows you to evaluate whether the purchase is necessary or just a fleeting desire. 

Use Online Shopping Apps:

Shopping online has become increasingly popular in recent years, but it can be frustrating to search for coupon codes to save money on your purchases. Fortunately, there are apps like Honey that can make this process much easier. Honey is a free browser extension that automatically applies coupon codes at checkout when shopping online. 

This means that you don't have to spend time searching for codes or worry about missing out on savings. Honey works with over 30,000 online retailers, including popular sites like Amazon, Target, and Macy's. In addition to applying coupon codes, Honey also offers a feature called Honey Gold, which allows you to earn cashback on your purchases. 

Use Groupon:

Groupon is a popular app that provides users with access to exclusive discounts on a variety of local activities, restaurants, and services. With Groupon, users can save money on everything from spa treatments and fitness classes to dining out at their favourite restaurants. The app is easy to use and offers a wide range of deals that are updated regularly, so users can always find something new and exciting to try. 

Whether you're looking for a fun night out with friends or simply want to save money on everyday expenses, Groupon is a great option to consider. So why not download the app today and start exploring all the amazing deals that are available in your area?

Choose Generic Brands:

When shopping for groceries or household items, it is often tempting to opt for the name-brand products that you are familiar with. However, choosing generic or store-brand products can save you a significant amount of money in the long run. These products are often just as good as their name-brand counterparts but are sold at a lower price due to lower marketing and advertising costs.

Many generic brands are made by the same manufacturers as name-brand products, so you may be getting the same quality product for a fraction of the cost. By choosing generic brands, you can stretch your budget further and still get the items you need.

You can also check out Frugality Father for more Frugal living tips

Remember, frugal living isn't just for Christmas....