Cash doesn’t come easily, you work hard for it , but a few thrifty options can help you make the most of what you earn.
While some may live frugally by dramatic life transformation, there are plenty of ways to save cash that can blend in with your current lifestyle.
If saving dollars is one of your financial goals, check out the list below for several practical frugal living methods, that won’t require huge changes to your everyday life. Living a frugal lifestyle has allowed you to be completely debt-free, except for your mortgage, you are working on that.
You were also able to build a six-figure retirement fund, on a single revenue in our 20’s. All of this was accomplished by being a frugal couple, and budgeting our bucks. Can you guess which lifestyle has been more rewarding?
Transportation
Go with just one car. The average individual spends over $9,000 per year for the privilege of driving their own vehicle, we’re talking about just one vehicle here. Many families have 2 cars. For these families, even if they’ve paid off one vehicle, the expense of insurance, parking, fuel, repairs and routine maintenance can fastly add up.
If it’s possible, consider taking public transportation to go to the office. It’s 80% cheaper than owning, and using a car. If you live close enough to your work office, you could also consider walking or biking. If two cars are important, consider trading in your car for something more fuel efficient. Instead of a larger car or a SUV, consider getting a smaller, sub-compact vehicle that is good on gas.
Purchase discounted meat at the grocery store
Most grocery shops leave their butchered meats unfrozen, which limits their shelf life. This results in the shop having to discount them deeply as they near their sell- or freeze-by date.
Save cash by picking up this meat. If you’re not going to use it soon, pop it in the freezer as soon as you get home, to extend its life. According to the United States Department of Health & Human Services, pork, fresh beef, lamb and veal can last up to 12 months in the freezer. Turkey and chicken can last up to 9 months.
Use up a product completely before opening another
This one’s a biggie in our home sweet home. For some reason, I just can’t convince my kids (including my husband) to finish one thing before they open another.
Oftentimes, this bad habit results in more food waste. Sometimes, I’ll go to the extreme of hiding the new bottle of ketchup, until every last bit of the old bottle is gone.
Then, when my kid (who’s a certified ketchup addict) complains there’s no ketchup, I’ll verify that the old bottle is indeed empty, before I ‘launch’ the new bottle from its hiding place.
Learn to Say “NO” to Unnecessary Costs
Some habits are good, others not so much. Spending on frivolous products isn’t a good habit to have. Indeed, unnecessary costs will drain your budget more quickly than a speeding bullet. For example, purchasing useless stuff at the dept store might make you feel better for a short time. But, it drains the budget.
If you want to begin implementing a frugal living lifestyle, consider alternatives instead. If you like to spend time at the dept store, consider going for a walk in the park. Or, look at more affordable activities.
For example, you can meet your buddies at a cheap restaurant, or park, and hang out together. Whatever you do, just make sure that the activities you’re engaging in are budget-friendly and well planned out. That way, you won’t have to drain your savings when those opportunities come around.
