Secure Your Future Now: 50 Tips for Frugal Living That Work

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Key Takeaways

1. Frugal living is more about spending money on things that truly matter to you in life than denying yourself things you want or need.

2. Being frugal is very different than being cheap.

3. Making the decision to live frugally is also making the decision to secure your financial future.

Brooke’s Top Pick for a Frugal Living Bucket List

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What is Frugal Living

Frugal living is all about making an intentional choice to spend money on the things that you value most while not spending money on things that don’t hold any value for you. In other words, frugal living is more about being resourceful and eliminating waste than it is about being cheap.

Out of all the life lessons I’ve learned along the way, living frugally is one of the most important. The decision to live frugally has benefited me in more ways than I could ever count, and it’s one of the major things that contribute to my level of happiness on a daily basis.

So what is frugal living and what is it not?

Frugal Living Is

• Saving more than you spend
• Being resourceful
• Eliminating waste
• Focusing on long-term growth
• Providing financial security

Frugal Living Is Not

• Being cheap
• Going without
• Giving up nice things
• An end to all fun
• A waste of time

Brooke’s Top Pick for a Frugal Living Mug

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Daily Frugal Living

In order for frugal living to make a big impact on your life, you need to commit to daily frugal living. Daily frugal living means thinking about your spending and savings every single day, especially before you make any purchases.

I came to frugal living in a very different way than most, and my contrasting experiences with money growing up have become the best financial education that I could have asked for. Because of these two vastly different scenarios, daily frugal living has become a mainstay in my life.

After my parent’s divorce when I was eight years old, my life looked very different depending on whose household I was in at the time.

At my primary residence, I experienced:

• Being dependent on tips. The amount of money coming in was never consistent due to this parent working in the service industry, and we could never rely on a steady paycheck.
• Feast or famine. We either had a lot of food at home or next to nothing. Eating out was a luxury and always included an all-you-can-eat buffet meal and water.
• Hand-me-down clothes. These were completely worn out as they were shared amongst the four of us girls.
• Counting change. I can’t tell you how many times I searched for enough change to do a load of laundry at the laundromat, for lunch money, or to treat myself to a soft drink or ice cream, which was rare and a very big deal at the time.
• Hand-made gift certificates during the holidays. This parent couldn’t afford to buy gifts and chose to spread out the expenses over the year by giving us IOUs.
• Windfalls. Every time this parent came into a little bit extra of money, it was a race to spend it in fun ways instead of providing long-term financial security for our family.

At my secondary residence, I experienced:

• Being dependent on sales. This parent started a construction business and only earned income every time a house was sold.
• Feast. This parent budgeted carefully throughout the year, so we never had an empty refrigerator. We could go out to eat wherever we chose, and we could order whatever sounded good to us, including a drink.
• New clothes. This parent provided new clothes several times per year and taught us how to shop sales, buy quality products that lasted, and buy only what we truly needed.
• Lessons on savings. This parent taught us the importance of saving money for the future and frequently reminded us that wealthy people end up wealthy because they don’t spend more than they make.
• Gifts. This parent gave us meaningful and useful gifts during the holidays. We were never spoiled rotten, but we always had more than what we needed, and we were taught to appreciate it.
• Windfalls. Every time this parent sold a house, a large amount of money would come in, but we never knew when it happened. This parent would save and invest for the future and would not succumb to lifestyle inflation at all.

Although my experiences surrounding money were drastically different between both households, they played a huge role in how I see money today and have been such a big influence that daily frugal living seems second nature to me now. That being said, I’m very thankful for the learning opportunities that both of them provided to me.

I now know that money is a tool. Once you learn what frugal living really is, you decide to take charge of your money, and you make the choice to live frugally, the returns you see are far greater than the seconds of joy that you get when you buy something just for fun.

Although frugality is certainly not a new concept, it’s becoming more important every day as personal debt grows to staggering amounts. And who wants to be a part of that group?

Frugal living has blessed my entire family, and I know that it will bless yours too.

Tips for Frugal Living

These 50 tips for frugal living are the ultimate guide to creating financial security for your family:

1. Track Your Monthly Expenses

The most important tip for frugal living is to know where all of your money is going every month. So make it a habit to track your monthly expenses and you’ll be surprised to see how much money is wasted when you’re not being intentional with your spending.

2. Negotiate Your Bills

Call all of the companies you work with and politely ask them how they can help you save money on your bill. You will be surprised how far being nice will take you towards finding additional savings.

3. Research Cell Phone Plan Options

A huge expense for most people nowadays is their cell phone. Research cell phone plan options and you’re sure to save a ton of money over large, over-priced carriers. My personal favorite that has helped me save for years is Republic Wireless.

4. Analyze Impulse Purchases

Everyone makes impulse purchases from time to time and analyzing when you’re more likely to purchase something you don’t need will help you lower your rate of impulse spending. If you know that you grab extra items every time you’re at the grocery store, start making a list and stick to it. Or if you tend to do unplanned online shopping after a few cocktails, put your phone out of reach before you start drinking.

5. Cut Back on Services

Another great tip for frugally living is to cut back on personal care services like getting your nails done, salon services, and massages. You don’t have to eliminate them entirely but consider scheduling these appointments with longer intervals in between.

6. Eliminate Unnecessary Expenses

Now is the perfect time to look at both your occasional and recurring expenses and eliminate those that no longer bring you joy. You may be wasting money on memberships and subscriptions that you don’t even want anymore.

7. Quit Toxic Habits

While you’re eliminating unnecessary expenses, work on quitting any toxic habits like daily soft drinks, smoking, or alcohol use. Then take the money you usually spend on these habits and save, invest, or pay off debt with it.

8. Adopt Active Habits

There are plenty of free or inexpensive ways to get active in your area such as hiking, biking, snowshoeing, or outdoor yoga. There is no need for an expensive gym membership you rarely use when nature provides so many great options.

9. Create a Budget

Once you know where you typically spend your money, you can create a budget that works for you. Budgeting can be as simple or as detailed as you make it, and it will help you take control of your money instead of letting it control you.

10. Automate Your Savings

The first step after creating a budget is to automate your savings. Using the resources available to you through your employer, apps, bank, credit union, and investment firms will ensure that you always pay yourself first, and then you can move on to paying your recurring expenses.

11. Sign Up For a Rewards Credit Card

Using a rewards credit card is a frugal tip that allows you to get cash back, airline miles, or even gift cards to your favorite stores. If you know you can’t use a credit card wisely and pay it in full every month, this tip is not for you.

12. Avoid Interest

Interest isn’t always avoidable, but it certainly can be on smaller purchases. Make sure you pay off credit cards monthly and any other items you buy on credit, like furniture, before the interest kicks in. Buy items with cash whenever possible.

13. Payoff Debt

Paying off debt as quickly as possible can save you thousands of dollars in interest. Use an online calculator to see how even making the smallest extra payments towards the principal of your loan can take years off your debt and save you a ton of money in the long run.

14. Avoid Fees

Paying close attention to where your money is going and increasing your savings rate will help you avoid losing money unnecessarily through fees. Avoid fees and keep your money where it belongs.

15. Take Advantage of Free Resources

There are tons of free resources available in your area if you look for them. Check out all of the free resources at your local library, lending libraries, or online sales groups.

16. Borrow

Whenever you want to purchase a new item, think about whether or not you need this particular item long-term. Oftentimes, borrowing an item from a friend or family member is a much better solution than owning something you only need to use once.

17. Repair Instead of Replace

Whenever possible, repair broken or damaged items instead of throwing them away and buying a replacement.

18. Consider Gently Used

Purchasing gently used items is a great way to live frugally and still have the material items that you want or need. There’s nothing wrong with buying some wants here and there, and buying gently used is a great way to splurge on something fun but still stay on budget.

19. Research Shopping Seasons

When you do need to buy something new, research the best time of year to purchase that item and take advantage of the deep discounts.

20. Buy High-Quality Items

Going for the lowest price available isn’t always the best option. When you need something important, spending more on a high-quality item that will last actually saves you money in the long run.

21. Price Match

Always ask businesses to price match their competitors’ advertised prices. The worst they can say is no and oftentimes, they will honor your request.

22. Rebates

Rebates are an awesome way to earn money back for the purchases you’re already making. Take advantage of any store rebates available and use rebate apps to save even more.

23. Sign Up For Loyalty Programs

Signing up for loyalty programs with your favorite companies can help you get discounts on items that you’re already buying and even free items on occasion.

24. Stop Shopping For Entertainment

Shopping should never be a regular source of entertainment for you. You’ll always find something you want if you go shopping whenever you’re bored, upset, or treating yourself.

25. Prioritize Experiences Over Things

You’ll naturally become more frugal when you prioritize experiences over things. Any items you buy will cost you money, will have to be cleaned or maintained, and will take up space in your home. Commit to buying less stuff and focus on experiencing life instead.

26. Take Advantage of Free Experiences

There are so many great opportunities to enjoy experiences entirely for free. Check out the festivals, museum days, outdoor concerts, movie nights, hiking trails, and sporting activities that are available in your area for no cost to you.

27. Learn New Skills

Learning new skills will help you avoid paying for costly services in the future. It’s amazing what you can learn with an open mind and a YouTube video.

28. Trade Skills

Now that you’ve learned new skills, trade your time with family members and friends who can help you with the things they already know how to do like painting, oil changes, or roofing.

29. House Renovations

Now that you have new skills at your disposal and help from friends and family members, complete some house renovations that will save you money over time like adding insulation, air sealing your attic, and reglazing or replacing drafty windows.

30. Optimize Your Utilities

There are plenty of small projects anyone can do to optimize your utilities and save money such as switching to energy-efficient light bulbs and installing a programmable thermostat.

31. Declutter and Sell

These tips for frugal living can help also you make your house look nicer. Decluttering and selling items that you no longer need is a great way to make some extra cash. You can then use this extra cash to save yourself even more money by paying down debt or by earning interest on it.

32. Organize

While completing your decluttering projects, organize the items remaining in easy-to-find locations so that you know exactly what you have at home. This ensures that you don’t accidentally buy something you already have and just forgot about.

33. Reimagine Gift Giving Traditions

Once your house is decluttered and organized, the last thing you’ll want to do is clutter it all back up, so reimagine the gift-giving traditions you participate in. Have conversations with those closest to you and stop giving gifts, give fewer gifts, or start giving experience gifts instead of more stuff people have to store.

34. Stay Current With Auto Maintenance

It may seem counterintuitive, but staying current with auto maintenance can help you save money on expensive fixes further down the road. Make sure you regularly get oil changes, get tires rotated, and get your other fluids flushed whenever necessary.

35. Combine Errands

Combining errands will help save you a ton of money on gas, and it causes less wear and tear on your vehicle.

36. Shop Around for Auto Insurance

Shop around for auto insurance at least once a year to make sure you’re getting the best price available. But keep in mind that you want a quote for the exact same coverages across companies so you don’t lose coverage when you do decide to make the switch.

37. Travel Smarter

When it comes time to plan a vacation, consider a staycation and be a tourist in your own town, go on a camping adventure, or choose any other location where you can get discounted airfare or hotel stays.

38. Use Up What You Have

Make a point to use up what you have before going on large grocery trips. Clean out the pantry, refrigerator, and freezer at least once a year.

39. Meal Plan

Create a meal plan before shopping so that you can take advantage of sales, avoid impulse buys, and never forget another ingredient again.

40. Use Coupons

Use store coupons and coupon apps to get the most for your money.

41. Stock Up on Household Items

Watch out for good sales and then stock up on household items that don’t expire like toilet paper, paper towels, and personal care items.

42. Buy Staples in Bulk

Buying staple items in bulk like rice, oats, and pasta is a great frugal hack that saves you a ton of money by weight as opposed to buying more expensive items with convenience packaging.

43. Buy Other Protein Sources

Meat is expensive and it’s not your only option. Make meals around other sources of protein like beans, lentils, seitan, and soy.

44. Cook in Batches

Batch cooking is the ultimate in frugal hacks when it comes to food. Many roasts, casseroles, and soups can be made in batches and frozen for future use.

45. Repurpose Leftovers

Batch cooking doesn’t mean you have to eat the same meal over and over again. Repurpose leftovers into entirely different meals like using shredded chicken in quesadillas or extra veggies in a stir fry.

46. Pack Lunches

Eating out during lunch can add up quickly during the week. Pack a healthy lunch with all of the delicious food already in your house.

47. Make Your Own Natural Products

Many of the items in your pantry and refrigerator make the perfect ingredients for all-natural personal care and cleaning products for a fraction of the price you’d pay at the store.

48. Be Intentional When Eating Out

When you do eat out on occasion, be intentional with what you order and consider sharing meals or how you can repurpose leftovers.

49. Grow Your Own Food

Growing your own food is cheap, easy, and incredibly healthy. Plant a bed or several pots with everything you need to make a delicious salad.

50. Eat Healthy

Eating healthy foods like lean meats, vegetables, whole grains, fruits, and nuts will optimize your body and keep more money in your bank and less going towards medical bills.

With these 50 tips for frugal living, you’re sure to find many ways to start living more frugally now so that can secure your financial future.

Frugal living is not about giving up everything you enjoy. Frugal living is really about being intentional with how you save, invest, and spend money based on your priorities in life.

Frugal Living for Beginners

If you’re interested in learning about frugal living for beginners, the best place to start is by educating yourself on what frugal living actually entails. These frugal living tips will help you get started on your journey toward creating a secure financial future for you and your family.

Remember, everyone starts somewhere. Learning about frugal living for beginners today will soon lead to a deeper understanding of frugal living for pros later on. With time and effort, you can become a frugal living guru and help others around you reach their own financial goals.

What are you waiting for? Implement these 50 frugal living tips starting now and you’ll be well on your way to a life you never dreamed of.

FAQs

1. What does frugal living mean?

Frugal living simply means being intentional with your spending so that you never waste money on things that provide little to no value to you. When you adopt frugal living, you direct your hard-earned money toward products and services that provide great value to you and save the rest.

2. Is frugal living worth it?

Frugal living is worth it because it allows you to secure your financial future without feeling like you ever have to go without. Living frugally is a choice that allows you to have more control over the outcome of your financial future.

3. Is frugal living good?

Frugal living is good because it is a simple way to make sure that your money is always serving you. While it may be easier to spend frivolously like so many others around you, choosing a frugal lifestyle ensures that you will have a good life long into the future without worrying about finances.

Sources

• Congressional Research Service: COVID-19: Household Debt During the Pandemic
• Republic Wireless
• Researchgate: Frugal Innovation in Scholarly and Social Discourse: An Assessment of Trends and Potential Societal Implications

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