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Finance12 Ways to Live Frugally in a World of Abundance

12 Ways to Live Frugally in a World of Abundance

Living frugally might sound unrealistic in a world of abundance but it certainly doesn’t have to be. Creating meal plans, setting a budget, and researching cheap car insurance and low-cost streaming services are all ways you can save money so you can have funds for other luxuries. It’s easy to get caught up in the newest gadgets and competing with the Joneses, but it doesn’t help you save for the future and move toward your dreams and goals .

  1. Buy High Quality Products. While it will cost you more (unless you scope out the really good deals and promo codes) to buy a higher quality item, the idea here is that it will last longer than cheaper knock offs. Meaning, you’ll spend less in the long run.
  2. Do Things Yourself. There are things around the house and in your car that you probably shouldn’t do yourself (think: rewiring the entire house and replacing a transmission) but there are a multitude of smaller projects you can easily take on yourself. All you will need is patience, access to a how-to video (like on YouTube), the proper tools and good lighting (always!). Fixing and building things yourself will save you hundreds and eventually thousands of dollars in labor costs from skilled contractors SEO Services in USA.
  3. Buy Generic. For everything. If this is not completely at odds with #1 on this list, then absolutely go for the generic version of food, clothes, prescriptions, etc. You’ll see little difference, if at all, in the quality of the item and a huge difference in cost. Remember, saving 50 cents here and there might not seem like an awful lot, but repeatedly and over time, every small bit adds up to a lot.
  4. Rent Instead of Own. If you’re looking for a particular type of saw to help you with your latest kitchen project, instead of spending $350 on the item (which you’ll probably only use once), research where you might be able to rent it, instead. Or ask your network of friends and coworkers to see who owns it so you can borrow it from them. This is also a helpful strategy in that you won’t have to store it, and it won’t clutter your garage instagram management services.
  5. Get Your Friends Involved. Chances are good that your friends want to save money, too. Talk to everyone about a holiday gift giving cap, as well as the idea of bartering services with one another. Trading childcare responsibilities with one another, carpooling, etc. It’s a great way to enlist people you trust without having to pay high labor costs to people you don’t know.
  6. Know Your Free Entertainment Options. It might feel like you must pay a lot of money to have a good time, but it just isn’t true. There are many options in every city that provide great entertainment for little or no cost. Think museums, art galleries, indoor and outdoor concerts, zoos, national parks, beaches, etc.
  7. Use Store Loyalty Programs. What are the stores you frequent? Think about the convenience, grocery and department stores, as well as pharmacies like Walgreens and CVS. Most large corporations have loyalty programs that give members discounts on popular items. Food chains like Red Robin, Panera, and Starbucks offer them, too. Take advantage if you are a true-blue fan.
  8. Cut Those Monthly Subscriptions. Is it like Christmas every month at your house? Bottles of wine delivered, new clothes and makeup, jewelry or even plants? Subscription boxes are the newest and (yes, most fun) way to shop these days but they can do sizable damage to your bank account. Take a good hard look at what you need, and what you can really afford Social Media Marketing Services.
  9. Skip Flashy Spending. In the past, if you wore a Rolex watch people immediately thought of you as a high-rolling big spender. Someone with good financial backing. Even if those things are still true about you, it doesn’t mean you have to flaunt it. Money spent on an expensive watch can more productively go toward a credit card or house payment.
  10. Pay in Cash. You would, most definitely, be the odd man out pretty much wherever you go but paying in cash gives you one huge benefit. No credit card balance. Plus, you’ll know exactly how much is going out of your bank account and what you can truly afford. You won’t go over budget and you’ll have more control over your financial future.
  11. Budget for the Holidays. If there is one costly event that is completely expected every year – it’s the end of the year holidays. The good news is you can budget for the holidays all year round. Take a percentage of your paycheck and funnel it into a special account.
  12. Drink Water at Restaurants Only. If you haven’t noticed by now, restaurant drinks are extremely high priced. Instead of paying $4.50 for a glass of Sprite, skip the soda, wine, cocktails and mocktails and opt for water instead.

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