What is Frugal Living?
Being frugal is more than just saving money and spending less; it is a way of life, a way of not wasting your hard-earned money and instead using it for more important things like-
- Debt repayment
- Funding for education
- home improvements
- or any other personal reasons
Frugality is a legitimate goal that focuses on living below your means and prioritising things that make you happy over things which make you look classy.
So without further ado let’s get started
1.Buy what’s go for long term
Numerous people believe that living a frugal lifestyle entails only shopping for the cheapest items. That is simply not the case! Frugal people aren’t cheap; they just know how to spend their money wisely.
For example, a frugal person isn’t going to spend $10 on new shoes that only last a month, they’re going to spend $50 on a pair of shoes that last for a year. That’s just better value.
So, when you’re comparing frugal vs cheap, remember that frugal people don’t just try to find the cheapest products possible. They find high-quality products that will last and they make sure to get the best price possible (by getting the most out of their dollar, as we talked about above).
2.Never be late bill payers
Wait, I understand how you feel!
Everybody has obligation and we somehow missed some deadlines.
Late bills doesn’t hurt in near terms but that interest compound into giant pain in the wallet in future so to avoid more messs in life its always better to pay bill on time without any late fee.
Late bills = Extra interest.
Interest is a waste of money that can be easily prevented if you pay your bills on time. Without being lazy, strive to pay your bills on time; it’s really that simple.
3.Never Pay Full Price
Look for bargains, discounts, sale all sort of of incentives a brand offers.
I use Ebates – is my go-to savings angel; you can earn cash back on all internet shopping,All you should do is sign up for ebates and use the link to the favourite e – commerce sites (for example, Amazon) when you shop.
The service is completely free and legitimate, and you should definitely give it a shot. Now that you’ve discovered a way to get items for much lower prices online, make the most of it.
4.Never Visit Thrift Shops and Flea Markets
One can’t go wrong shopping from thrift and flea store. The eye popping discounts are very hard to resists.
From clothing to bathroom items to electrical appliances, these are great places to find items at a low prices.
There even you’ll find stuff that are so good at fraction of its original price and you might hate me saying don’t shop.
The reason I’m saying don’t shop is you gotta save money also so everything that glitters isn’t gold.
Understand you need and want then decide should you really stuffed up your home with unnecessary items.
5.Maintain A Budget
I know you hate this word”budget”.
It’s so conservative in thinking to maintain a limit on finance but it’s the only way to achieve your goal.
Maintaining a well balanced budget planner gives you authority to manage how you spend and save money. That way you expenses can be low and save a lot.
6.Cut your Memberships.
If you got lot of membership you need that to stop immediately. Membership are silent money drainer for your wallet.
Single membership won’t hurt but if you got multiple memebership(gym membership, vegan food delivery membership, netflix,Amazon prime, Spotify and much more) then surely you’re paying much more than you should.
Don’t get me wrong saying gym membership are bad. I too had one but I wasn’t regular it’s just we all take during new year resolution because our friends takes one and then we all move apart from sticking to it.
A gym membership typically costs between $60 and $700 per year. As per recent surveys, nearly 67 percent of people who have gym memberships do not fully utilise them.
7.Stop Impulsive Purchases.
The best way to keep your emotions in check while shopping online is block those sites or uninstall the app to avoid any future crave.
During offline shopping you can give 5 minutes to think where will you wear that dress, on which occasion.
Also try to challenge yourself to make new style by mixmatching your existing clothes.
This way you can save a lot.
Don’t buy into the phoney sense of urgency that sellers frequently use to increase sales. Trying to ask yourself if you really do need the item can put an end to your shopping urges for good!
If you have a problem with impulse purchases, give yourself at least a week to consider whether you really need something.
8.They say no to Partying
Going for a party every weekend may be recreational for some but slowly and gradually you come under a pile of credit card debt.
When we go for impulsive activities we forget our responsible nature and we spent huge amount on food and drinks.
This way we go south on our savings rate and at month end we need budgeting to clear the mess.
9.Say No to Dineout Often.
Going Out or ordering food online (thanks to Uber eats, Door dash) what we spent a single that could have bought us monthly grocery.
It all adds up in long term and creates a big whole in wallet at monthly bill.
Try to cook for yourself that way you not only save money but you get authority on what you get yourself inside your body.
Buy veggies or fruits when required don’t overstock because that would eventually goes to waste.
10.Have A Side Hustle
If you have side hustle income it will not only fill up your bank account but always gives you sense of security that you got backup.
The one I recommend that literally doesn’t require much effort.
This is a trending work from home Side Hustles in 2021
Virtual assistants enable other business owners by assisting with administrative tasks. The majority of Virtual Assistants are self-employed and work from home, allowing them to set their own hours.
Reason to go for Virtual Assistant(VA)
In North America, the average Virtual Assistant earns between $35 and $50 per hour (with some earning as much as $120 per hour). Virtual Assistants are in charge of tasks such as:
Designing graphics (for social media or for the online portfolio)
Social media administration
Video Editing and so on.
If this is something that interests you, you can learn more about becoming a Virtual Assistant by visiting “30 Days or Less to Virtual Assistant Success.”
What I do!
This is what I would say everyone should have a blog not only for Side hustle income but it gives an expression to your thoughts that millions of people would join as readers.
It gives you freedom from time, location and money.
Is it expensive to start a blogging business? Yes, if you consider $3.95/month to be exorbitant!
So, yes, starting a blog is extremely inexpensive. If you want to learn how to start a blog and start making money from it, follow this link.
What you have to do is selling products without any involvement in manufacturing and logistics to supply.
The product’s manufacturer not only stocks the inventory, but also ships it directly to the customer on your behalf!
How genius is that?
If you want, You can even sell your own products too! Learn more about dropshipping here.