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Let’s chat about saving money by being more frugal in life (Thrifty Tactics). Being frugal sometimes gets a bad rap but take a moment to consider the definition of frugal: being careful about spending money or using things when you don’t need to and embracing simplicity in lifestyle.
To me, being frugal is just another way of being SUPER SMART with your money. It means you are making conscious, prudent choices in a way that keeps more cash in your pocket.
Read Ahead
Discover the best 12 tips to help you be more frugal in life.
Assess Your Previous Purchases
Start by taking a walk around your house now and assess all the things you have purchased in the past. Are there some things you regret buying? Do you wish you didn’t spend so much money on a particular item? When did you get over the excitement of owning it, was it after one year, one month, one week, or one day? If you could take it back now for a full refund, would you do it, and if so, why? Asking yourself these questions should hopefully help you make better decisions when buying items in the future.
Find New Uses for Old Things
I won’t even try to cover all the ways old things can be repurposed and used, as the list is endless. Just bear this thought in mind: the next time you go to throw something out, think about all the smart and creative ways you can repurpose something into a functional item. Search Pinterest or the Internet for ideas – you will be blown away with all the incredible suggestions.
Plan Ahead for Thrifty Tactics
If you know you are going to need to make a purchase soon, don’t leave things until the very last minute so that you’re at the mercy of the retailers. Start looking or researching prices early so that you know what the best price is to pay. It definitely pays to shop around, and by getting a head-start, you can work out where the best deals are.
Buy Used When You Can
If there is something you really want or need to buy, there’s no reason why you need to pay full price for it. You can often find the exact item you want with a bit of clever shopping online or at stores that sell pre-owned items. Facebook Marketplace and eBay are two other great options for used goods in excellent preloved condition..
Once you’ve identified what you need to get, look for ways you can save money buying it. By buying used most of the time, you will not only save a ton of cash but, at the same time, help protect the environment by saving still-usable items from going into landfill.
Do Holiday Shopping Right After the Holidays
Many people only think to do this after Christmas, but sales always happen after every holiday, and you can learn to use this to your advantage. The best time to get a cheap Father’s Day card is the day after Father’s Day. The best time to get Christmas decorations is right after Christmas, and the sales for Easter-themed stuff happen right after Easter.
You can accumulate quite an impressive and cheap stash of gift cards, bags, decorations, and wrapping paper by simply doing your shopping right after the holiday when the discounts are highest and then just store it in the closet until next year.
Use It Up, Wear It Out, Make It Do, or Do Without
Make this your philosophy when it comes to life and money.
Change the Way You View Entertainment
Seriously, you don’t need to spend a lot of money to have fun. Go out and do stuff that is free. Play in the park. Plant a garden. Ride your bike or rollerblades. Host a karaoke party at home. Learn to be creative with your weekend activities. I promise a fabulous life isn’t all about expensive dinners and extravagant vacations.
There are so many low- to no-cost activities, such as going to the beach or on a hike, having a picnic, volunteering your time or attending low- to no-cost local events such as local concerts and fairs. You need to search them out.
Borrow Books, Music, and DVDs From the Library
The cost of going to the movies: tickets + popcorn + drinks + parking = something exorbitant these days. Whereas the cost of checking out a book or movie from your local library = totally free, yay. Remember, your local library usually stocks more than just amazing books but also magazines, CDs, DVDs, audiobooks, and games, though make sure to return it on time, or you will pay a fee. Most libraries also now offer free digital and audiobook downloads (via the Libby app or something similar, which, as an avid reader, is something I’m personally obsessed with).
Do a Proper Weekly Stock-Take of Your Fridge and Pantry
Do you even know what you have hiding in the dark recesses of your pantry? Are there some cake mixes or crackers you forgot all about? Do you have some cheese or olives in your fridge that need to be consumed quickly; otherwise, they will end up in the trash.
A lot of us buy food items that we already have because we haven’t done a proper stock-take of our fridge and pantry, and doubling up on this stuff is spending money you don’t need to spend. Challenge yourself to use up everything you have at home first before rushing to restock your kitchen.
Shop Around the Perimeter of the Grocery Store
Pay attention next time, and you will notice that all the healthiest and fresh food is located towards the back and sides of the store while the aisles are filled with junk. If you want to avoid processed foods and save money, do whatever you can to avoid those middle aisles.
Stock on Items You Really Need When They Are on Sale
If there is something you really need on sale (like a good half-price sale) and the item doesn’t expire, then consider stocking up on the product to last you a while.
There’s nothing worse than buying only one or thinking, “oh I don’t need that right now!” and going back next week to pay full price. Of course, you obviously shouldn’t go overboard with this – make sure you only buy enough for the foreseeable future, not forever.
Get Into the Savings Mindset
Finally, the following sayings are great to keep in mind if you want to get into the spirit of frugal living with a view to saving money:
Take care of the pennies, and the pounds will take care of themselves.
Material possessions decay. Relationships, the Earth, and future generations are a forever legacy.
The rich stay rich by living like the poor. The poor stay poor by living like the rich.
Want and Needs
A want is not a need. It’s not a bargain if you don’t need it.
Live within your means and not within the expectations of what you deserve.
If you can’t pay for it now, you can’t afford it.
Don’t borrow from tomorrow to pay for today.
Mindset Is Everything
You will win with money when you decide that your family’s future is more important than any new toy you want to buy.
The rich get richer, and the poor keep on spending.
Don’t sacrifice what you want most for what you want right now.
Round Up
Finally, the best and biggest tip of all:
STOP SPENDING YOUR MONEY ON THINGS YOU DON’T REALLY NEED!
FYI: Many of these tips will sound great in theory but you will obviously only benefit from the advice you take action on. And in the realm of savings, knowledge isn’t power – ACTION IS!
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