In today’s article you’re going to learn everything you need to know about best frugal living tips.
Penny pinching and paying off debts and bills can get so tiring. It can feel like dragging a ball & chain clasped on your ankle. Here are 15 ways to fight off frugal fatigue:
15 Best Frugal Living Tips
1. Make frugality fun
Handling financial obligations need not be wearisome, with the right mindset. If you are able to cut your electricity bill in half or save a big sum by clipping out food coupons, splurge a bit, like treating yourself to a drink in a popular coffee restaurant, which may be within your budget.
2. Create a budget
Make sure you have a realistic budget. Draw up a list of payables and see how far your net total income will go. Set aside enough money for essentials, including food, transportation, utilities & rent payments, and so on.
3. Resist offers
You’ll always find retail stores and firms offering you special offers. Even if offers for huge discounts or even coupons come your way, be selective and choose only those that you really need. Don’t be duped into thinking you need certain “stuff.”
4. Don’t sweat the fact of not having a fat savings account
If a huge chunk of your paycheck goes to paying off bills, debts, and rent, and you have very little left in your savings account, don’t fret too much. Instead, devise ways to cut down on certain things like your electricity and water consumption.
5. Don’t lose sight of your goals
Whether your goal is to simply save for a rainy day or to save a little each payday until you pay off your credit card bills (1) and move to a bigger home you can call your own, having a goal can inspire you to save.
6. Have multiple streams of income
Monetize your love or passion for certain things. Whether it’s writing articles, or a hobby like photography or cooking, you can engage in your favorite pastime and earn money while doing so.
Creating multiple streams of income can help you handle your expenses, especially during tough economic times. Engage in money-making activities while keeping your regular job.
7. Watch out for shopping traps
Determine if you can save more by buying a single item, or by stocking on several jars or boxes. Supermarkets have lots of offers on unwary shoppers. Be wary of offers on stuff you don’t really need. Know the places where you can get cheaper merchandise.
8. Focus on money-saving techniques that generate huge savings
Frugal living burnout may arise if you try to use every money-saving technique in the article. Focus on the techniques that generate big savings, rather than a paltry sum.
9. Connect with other frugal people
Check out online discussions on frugal spending, and learn to vent. That way, you not only learn money-saving tips and money-making opportunities, but you also lessen stress or prevent frugal living burnout.
10. Limit splurges with big-spending friends
If you have family members or friends who often invite you to go out, requiring you to shell out much money, whether for entertainment, shopping, or dining, beg off once in a while.
11. Give yourself a pat on the back
Whenever you meet your savings goal or cut some monthly expenses, or succeed in avoiding enticing splurges, give yourself a pat on the back. Be happy that you are inching your way to your long-term goal.
12. Use cash instead of plastics
Make purchases using cash rather than your credit cards. That way, you limit the amount you spend, and you don’t end up accumulating credit card debt.
13. Consider a career change
If you’ve been saving for years and you cannot seem to set aside enough from your regular paycheck, consider other work options. Assess if it is the right time and if you have all the right reasons to move on, then check out the job market for a more suitable, higher paying job (2).
14. Appreciate opportunities that come your way
To prevent frugal living fatigue, take joy in the blessings that you have and good opportunities that come your way. Family, friends, good health and food on the table are reasons enough to celebrate life.
15. Have a reality check
Before booking a vacation and purchasing designer stuff, remind yourself of the bills that you’ll have to pay sooner or later.
Overspending will also cause delays in achieving your long-term goal, whether it’s gaining financial independence and having enough to live a comfortable life.
Thank you for reading this article about best frugal living tips and I really hope that you take action my advice. I wish you good luck and I hope its contents have been a good help to you.