38 Frugal Living Forgotten Tips: The Ultimate Guide to Living a Rich and Fulfilling Life
By: Edwin Warui
Tags: Frugal Lifestyle, Saving Money, Entrepreneurship, Finance, Money

38 Frugal Living Forgotten Tips: The Ultimate Guide to Living a Rich and Fulfilling Life Edwin Warui Jul 22, 2019·18 min read

It’s a dilemma of sorts, isn’t it?

On the one hand, you aren’t proud of your handling of finances because you rarely have enough cash to last to the end of the month. It’s a never-ending battle, and you start to worry. Anxiety creeps in with the sneakiness of a predator, and borrowing to make ends meet is on your mind.

On the other hand, you don’t want to be labeled a cheapskate.The popular opinion on frugal living floating around doesn’t help. There is a ton of information out there on frugal living blogs about how to live cheap, and it’s only taking you in circles. You are now more confused than ever.

Whom do you run to?

Good news…

There is hope, after all.

This post gives you the perfect chance to address your concerns, clear your doubts, and get you started on the once elusive journey towards simple frugal living.

Excited?

Let’s hop in and get this show on the road.

What is frugal living?

Frugal living is simply being smart with your finances. At its core, it’s applying some skill, judgement, and thought in the way you spend your money. It’s being resourceful and intentional with your spending. It’s a lifestyle choice.

In other words, this isn’t cheap living. You are being responsible, and that’s a huge difference.

No, you shouldn’t feel like a loser for embracing a frugal lifestyle.

Far from it.

If l were to summarize frugal living in just one sentence, this could be it:

“I can have it, but l don’t want it.”

Let’s now find out why frugal living is your best bet.

Why frugal living?

The motivations behind living frugally vary by individual. Some want to gain financial independence, while others want to retire early. Whatever your goal is, the principles that guide the whole process are similar.

Let’s dig a little bit deeper:

It’s a common belief that the more money you make, the happier you are, right?

Well, there’s something interesting…

A study on the money-happiness relationship by Angus Deaton, a Princeton University economist, shows the meaningful benchmark in the US to be $75,000. Below this, the more money you make, the happier you are. However, above this threshold, the more cash you have, the less impact it tends to have on your happiness.

At some point, spending more money doesn’t equate to more happiness. This is where you have more than enough to meet the basics and can afford the luxuries.

Simply, you should learn to separate your happiness from the convenience and comfort that affluence brings, and understand that happiness doesn’t come from bigger cars, bigger houses, or whatever. This is the fastest and most reliable way to a fulfilling life.

For instance, do you really need a bigger house because of a pay rise if the current one serves you just fine? If you get a new house, the thrill of moving in will be there in the beginning, but eventually, you will get used to it. I know it’s tough to resist, but you have to stay focused on your financial goals.

So, what are some of these objectives you could be aiming for instead?

Here are some worthwhile ideas:

Retiring early by giving you the financial independence to meet your expenses along the way.

Having more money for vacations, especially if travelling has always been your dream.

Freeing up money to invest or even provide capital to start a business.

Paying off a mortgage sooner which reduces the interest paid over the long term.

Building an emergency fund because unforeseen circumstances pop up and having that financial cushion allows their safe navigation.

Let’s now dive into the fine details of achieving the above desirable financial goals.

Awesome frugal living tips

There are numerous tips and ideas that you can incorporate into your lifestyle to achieve your frugal living goals.

But before we dive into those frugal living ideas, there is something you need to take note of. This could determine whether you succeed in your frugal lifestyle or end up being a dramatic failure.

Your frugal living success is dependent on spending less than you earn. This may sound obvious, but don’t be fooled. The battle begins in the application. It won’t be easy, but it definitely gets easier when you know what to do.

This is how to go about it:

#1. Budgeting is sexy

A budget is simply a spending plan for a certain period of time. It’s a roadmap that directs your available income towards necessary expenditures, and as a result helping prevent needless purchases.

Where do you get a budget?

There are numerous resources to choose from with the internet being a great place to start. You can then customize it to meet your specific needs, and then one step at a time move towards your intended financial goals.

There is more…

#2.Track your spending with surgical precision

You need to be honest with yourself and know how much you are spending because this is the only way to get you on the right track in living a frugal lifestyle. Daily expenditures that seem insignificant can in reality add up and burn your pockets.

However, this is traceable by:

Saving your receipts.

Keeping a record of purchases.

An automated service such as personal capital

The best part is…

Frugal living doesn’t have to feel like you are pulling teeth.

You can experiment with the tips below and choose what works for you.

Life-changing frugal living tips from the Great Depression

Sometimes invaluable lessons are learned during the darkest times. This is what happened during the economic crisis between 1929 and 1939. In the US, unemployment was above 25%, thousands of banks failed, and hundreds of thousands were homeless.

The simple truth is…

People had to be resourceful to outlast this period. This quest for survival demanded creativity, which gave birth to frugal living ideas that you can still embrace today.

Here are some relevant pointers from the Great Depression to incorporate into your frugal lifestyle:

#1. Can it be fixed?

During the Great Depression, it was unthinkable of replacing things before trying to fix. You could do this yourself or hire someone because it was affordable than purchasing replacements.

Remarkably, it’s a habit you can build.

Focus on making purchases only after all fixing options have failed and at the same time prioritize general maintenance because this will extend the life of equipment.

Eventually, you will make sizeable savings.

#2. Rethink the future

Money was scarce during the Depression, and people, therefore, had to get creative.

Think about this for a moment:

Back then, women made dresses from flour bags to minimize clothing expenses. In another, due to a shortage of tires, some people would scour landfills, repair old tires, and then reuse them.

Frequently, we underestimate the opportunities available in the ordinary stuff. This could be things you would normally dispose of or are currently underutilizing. There still could be something more you can get out of them.

YouTube is a gold mine on how to do this and eventually the amount of savings you make could be surprisingly significant.

#3. Get your hands dirty

Community relief gardens were popular during the Depression as they allowed people to lower their grocery expenses.

Today, the grocery store is convenient — no doubt about that.

But,

Did you know you can grow fruits and vegetables at a fraction of your grocery shopping costs?

Sure, it’s possible.

You can do this alone or team up with friends, and till a garden where fresh produce will be guaranteed at a bargain.

#4. Why buy if there is another way?

The Depression taught people to be resourceful; If they could make it, there was no need to buy.

Think about it this way:

Need and scarcity can often inspire creativity. When you deeply desire something, and money is unavailable, your creative part roars to life to work it out.

Currently, you can wash your car, clothes, or even do your own cooking, all of which can save money, and also allow you to take pride in their successful completion.

#5. Memorable and inexpensive entertainment

Okay, I know what you’re thinking…

“How could these guys be entertained during such hardships?”

It was not all doom during the Depression. People had fun too. They played the board game, Monopoly because It kept their hopes up by dreaming about better things.

Similarly, you don’t have to kill boredom by using more money. You can revisit childhood games and participate or even visit the local library — where diverse books, movies, or magazines are at your disposal — for the fun times.

And finally…

#6. Debt is certified poverty

During the Depression, people deep in debt lost their farms because they couldn’t make repayments. It’s a vital lesson we can learn from today.

Currently, a significant percentage of the population is sinking in consumer debt and this is a ruthless trap.You don’t have to be one of them.

Why fill up your space with stuff that quickly converts to clutter?

Be wise, and deliberate before making hasty purchasing decisions because waiting it out can reveal you don’t really need those items, after all.

Proven frugal living ideas for saving on food

Check this out:

Did you know that the way to a great life can be found in the kitchen?

When you look at it critically, you will discover that: First we eat, and then everything else follows. You can’t do without it.

The awesome thing is that good food doesn’t have to be costly — just a few tweaks here and there, and everything falls into place.

Let’s see how your eating habits can be altered to embrace the frugal lifestyle:

#1. Unleash the meal plan

You don’t have to go through the daily agony over what meals to prepare. Having a meal plan eases grocery shopping, minimizes waste because you know what you need, and saves you from the indecision that often accompanies meal preparation.

This could be a weekly or monthly plan that you stick somewhere in your kitchen.

#2. Become a smart shopper

Sometimes hunting around your area will reveal outlets that charge less for your intended meals. This turns out to be cost-effective and also provides the opportunity to try out new places.

Or even better…

You could chance upon a joint that later turns out to be your new favorite.

#3. Quit dining out all the time

No doubt about it, eating out is convenient.

But one thing is for sure…

Cooking your food saves you money.

It doesn’t mean you have to disregard eating out completely — not at all. Scaling down, on the other hand, will be worthwhile.

#4. On sale? Let’s go shopping

Due to their longer shelf life, non-perishable items save you money in the long-term.

But remember this:

It’s tempting to go all in on the large-size supplies, but this could result in waste and you could end up losing money instead. To prevent this, portion appropriately and watch the magic as you free up more money.

#5. A deep freezer to your rescue

This helps store food for later consumption as It allows you to purchase in bulk, which is cheaper, and preserve it for later.

For instance, when buying ham, have it sliced as this allows more control over the portions while minimizing waste. The slices can then be stored in the freezer for future cooking.

#6. The irresistible coupon

A coupon is a voucher that guarantees the holder the ability to get something for free or at a reduced price.

Because of the discounts they offer, coupons enable you to save on food purchases. Coupons are available in your local store or library and even online through coupon sites or by downloading a free coupon app such as Groupon.

#7. Guaranteed freshness nearby

Recently, the farm to fork concept has emerged, which is a social movement that promotes the consumption of local food directly from the producers. You can become part of it because freshness will always be a guarantee, and you will also help our planet become a better place by embracing a sustainable dining practice.

Sounds good?

There is more to pick from…

Reliable frugal living tips for your household

The majority of your costs originate from maintaining your home. They are unavoidable because you need shelter for security and also a resting place after work. All said, household expenses can be reduced in various ways.

This is how:

#1. Regain control of your house temperatures

Heating your home or cooling it increases the energy cost. A lack of insulation will result in drastic temperature changes that require power to stabilize.

So, how do you insulate?

You can use cost-saving measures such as thick curtains for your windows or plug the chimney if not in use to prevent energy and heat loss.

#2. Make homemade cleaners at a fraction of the retail cost

You can do it.

With a little help from the internet, you can make beauty products, window cleaner, stain remover, or even laundry detergent for personal use. The good thing is that they are as effective as the commercial products with the added advantage of costing pennies on the dollar to their store-bought counterparts.

The best part is, you probably have all or some of the ingredients needed to make these products in your house.

So, what are you waiting for?

#3. Get imaginative for a moment

It’s that time to get your creative juices on steroids. For instance:

For your office work, all you need is a Bluetooth keyboard and a smartphone or tablet and voila! You have a modified laptop. When it comes to printing, you can use a friend’s printer or go to the local library.

It really should be fun getting creative and saving money at the same time.

#4. Hold on, don’t pay that bill

Life sometimes gets in the way, and you mindlessly pay what is due without examining the bill. The problem is, you could be losing money that way.

Taking a moment to review a bill allows you to catch mistakes, helping you to avoid overcharges and ensuring that you are only paying for what you rightfully owe. Give it a shot, you will be surprised at the frequency at which bills are overstated.

#5. There’s no way out: You have to clean

A well-organized space improves your wellbeing since clean places allow the mind to relax and be creative. By cleaning your house, it means you get rid of stuff you don’t need and organize what is necessary.

Keeping a clean home makes it easy to locate something when it’s needed or even prevent double purchases because something got lost in the clutter and you forgot about it.

#6. Become a carpenter

Sometimes you can get creative and make your own furniture. This could be a simple project such as a bookshelf or a coffee table.

You could read a book or search online on how to go about it, but always keep in mind that your first piece will not be perfect. What really matters is striving to complete the job.

#7. Can you be a tailor?

You can sew your clothes. These could be old ones that need a bit of mending or new designs that stretch your imagination. Making your own clothes may seem daunting at first, but don’t lose hope just yet.

In the beginning, you can practice by making samples of the different parts of your clothes and eventually, when you are comfortable, you can start working on the real thing.

Word of caution: Perfection is the enemy of progress. Keep practicing, and with time, you will get there.

#8. Become your own personal handy-man

Sometimes YouTube tutorials might be all you need to fix that leaking tap or rickety chair. There’s a chance it will be uncomfortable rolling up your sleeves and getting your hands dirty, but having more money to save should help motivate you to give it a try.

How about transport? How do you cut your transport costs?

Here’s how:

Incredible frugal living ideas on transportation

Much of the economic development that exists today was possible because of efficient transportation. You need transport whether you like or not and the thing is, it costs money. Luckily, there are steps you can embrace to reduce your expenditure.

This is achievable by doing the following:

#1. Stop repairing your car

Maintain it instead. Preventive maintenance is your best bet because it minimizes repair costs in the long term.

Simply put, it involves taking your car for regular checks even when there are no repairs to be made. The best part about it is, it ensures that potential problems are identified early enough and corrected before they develop into expensive replacements.

#2. Let other folks drive you around

Carpooling is an arrangement between a group of people who take turns using each one’s car to travel a regular journey together. This can be with coworkers or the community.

You don’t have to use your car every time which saves you gas money, and at the same time strengthens the bond with those you are traveling with.

So, when it’s your turn to drive, what do you do?

#3. Keep an eye on your driving habits

What most people don’t know is the impact that their driving habits have on fuel consumption. Sudden accelerations or even hard stops result in more fuel usage, which means more money you are spending. Such maneuvers are okay on the racetrack but not during normal driving.

How about the roads? Which ones do you use?

#4. Toll roads: Are they avoidable?

Using a toll road means you will be charged a fee. Is it possible to avoid them?

Yes, you can set the GPRS to your intended destination to avoid toll roads. Caution should be taken, however, to ensure that there are indeed time and fuel savings. A toll-free road maybe longer leading to fuel consumption costs that exceed the toll fee. The aim then should be to strike a balance between the fuel amount consumed and the duration involved.

#5. Work in your underwear

Telecommuting is a growing trend. It means working from home using the internet or the telephone.

Some companies allow their workers to telecommute, and that means you should find out if your workplace allows the same. It saves on your transportation costs and also increases the quality time you spend with your loved ones.

A win-win scenario, right?

How about your wellbeing? How do you take care of it?

Let’s find out.

Unexpected frugal living tips on health

Health is your responsibility, and just like doing push-ups, you can’t outsource it. Sometimes it’s compromised, and money has to be spent to restore it. Remarkably, medical expenses don’t have to skyrocket and spiral out of control. They can be reduced.

This is achievable by the following:

#1. Go for cheap medications

Sometimes, just because something is expensive doesn’t mean it’s better. The latest drugs that are costlier aren’t always more effective than the cheaper older drugs. Be careful though, to always consult your doctor first before going for a discounted alternative.

And another thing, at times buying meds from Amazon is cheaper, so make it a point to always check it out.

#2. Revisit your insurance policy document

There’s a popular saying that prevention is better than cure. Insurance is one area where it perfectly applies because you need to know what your insurance coverage entails before you need it.

So, how do you do that?

Always check for pre-approvals or even copays for insurance visits as this prevents misunderstandings when a need to use it arises.

#3. Are you overpaying for insurance?

An insurance company statement outlines any charges made on your insurance policy and the services offered. Sometimes you can get a bill for a procedure that is already covered by your insurance which could mean double payment if you aren’t vigilant.

It’s best practice to always go through the statement and capture any anomalies that might result in you losing money and to communicate this information to your insurer.

#4. How well are you?

Once in a while in every community, there are health fairs that offer free checkups for various ailments. The aim of these free screenings is to promote health awareness among the public by identifying underlying problems early enough and then encourage people to treat them.

Exploring such opportunities can save you money that would otherwise have been spent paying for the same in a health facility, or even buying medications for treating ailments that weren’t identified beforehand.

Last but not least, there is the fun part.

Little-known frugal living ideas on entertainment

Slow down, and have fun because those experiences are worthwhile. Who knows, maybe these are the memories that will last forever. l will tell you though: It doesn’t have to be extravagant.

Below are tips to enjoy your life on a budget:

#1. Free is everywhere

Ironically, your credit card could save you money. No, it isn’t in repayments, but in the sign-up bonus or even a reward program that could include free hotel stays, free flights, or even car rentals.

But that’s not all…

How about you also take advantage of freebies such as free days at national parks and museums.

#2. Go easy on celebrations

Birthdays, anniversaries, or any other event don’t have to be lavish. Putting a little more thought into these celebrations can create awesome experiences on a budget.

For instance, you can organize a family game night which could help deepen the family bond, create a memorable experience, and save money at the same time.

#3. Do you really need cable TV?

Don’t you just hate it when you have to pay for something you rarely use or enjoy?

What’s holding you back then?

You can try satellite, digital antenna, or even Netflix. Who knows, one of them could suit you best and save you some cash.

Proven frugal living tips for seniors

Maybe you are in retirement or close to retirement. Either way, you want to have fun and live stress-free now and in the future.

Best of all….

It’s achievable.

Your age can deliver you some timely advantages with special discounts available just for you.

So, here we go.

Here are a few tips to make it worthwhile:

#1. Health is the greatest possession

A gym membership is a necessary expenditure.

“But how is this going to save me money?” you ask.

Well, here is how:

An exercise routine keeps you healthy which means lower medical expenses. In addition, exercise might render certain prescriptions unnecessary because you grow healthier. As a result, this saves you money that would otherwise have been spent on these medications.

What if you can’t afford the gym fees?

Economical activities like walking every day can do the trick,too. It’s an effortless time investment that yields unimaginable returns in the long term.

#2. Going up is not the only way

Deep down, you know it’s true…

Sometimes moving to a smaller house cuts costs significantly. Now that your kids are all grown up, you don’t need the extra rooms. Downsizing can save on maintenance costs and can also earn you more cash if you decide to sell the bigger house.

In another case, you can also downgrade on your cable subscriptions. Review carefully what you honestly need because maybe a few TV programs are all that matter to you.

#3. A vacation cost next to nothing

Travelling is ever-present on your bucket list, and you now have the time to spare, so what’s stopping you?

You can travel on a budget by taking advantage of the off-peak season. This means spending less on hotel fees, and air tickets, and having more fun since attraction sites will be uncrowded during this time.

There is no excuse now. Get your suitcase ready.

#4. Do you need all that insurance?

You can always check with your insurance company to see if they offer seniors discounts that might result in paying cheaper premiums.

Since you will also be with your spouse quite often, you can get rid of one car.

Let’s be honest.

Having just one vehicle reduces maintenance and insurance costs freeing up more cash to meet other timely needs.

#5. Little-known community subsidies

Sometimes the government or community offers incentives to seniors. This could be special health programs, subsidized meals, or even tax breaks. Take advantage of such opportunities because they can minimize your expenditure.

Make no mistake about it.

Very often, these programs are underutilized because people aren’t informed or are too embarrassed to ask.

Feel free to check if such services are offered in your area.

Here’s how to start frugal living

So, we have covered a lot of ground here. How to save money on your household, food, health, transport, and entertainment. Hopefully, it’s all starting to make more sense.

You don’t have to dread the end of the month. The frugal living tips mentioned above can get you closer to your once seemingly unattainable financial goals.

Remember, it’s not a one-size-fits-all solution. Pick what works for you.

That first step is all that matters. Then the second, and before you know it, economic success will be right around the corner.

Trust me. It will all be worth it.

Just one question for you….

What can you do with what you have right now?