Living frugally is all about spending wisely and the more that you plan, the more money you are likely to save. Setting a budget can undoubtedly be a great way to get started, but did you know there are other ways to save a bit of extra cash along the way? Here, we are going to give you our top 6 tips for living frugally.
- Give Yourself A Budget
When switching to a frugal lifestyle, it is important to start cutting costs anywhere that you feasibly can in order to save the pennies. A sure-fire way to achieve this is to give yourself a budget every month and ensure that you stick to it. Overspending is often the downfall of most money-saving attempts and so setting, writing down and sticking to your budget can help you avoid spending too much where it’s not needed. With apps such as Digit and PocketGuard offering you a simple and effective solution to keep track of your budget, all at a push of a button. Ensuring that you’re keeping within your budget and it can be as simple as glancing at your phone screen. You should ensure that you’re also budgeting for emergencies, however – if you do find yourself in an emergency financial situation and cannot stretch your given budget, a payday loans direct lender can offer you the money that you need, but with some income set aside for these situations, you could avoid this.
- Plan Meals For The Week
Although this seems like an oddly simple solution, planning your meals each week can have a profound effect on the amount of money that you are spending on your weekly shop. A meal plan is something that can be done either on a health and wellbeing app or even just on paper and can be done for either you or for the whole family and can be easily adapted dependent on changing budgets or preferences. By ensuring that you stick to a shopping list, you’ll be less inclined to pick up things that you don’t necessarily need and could even reduce the amount of waste that you’re throwing away each week. Other shopping-related changes you can make could be cutting out the number of sugary drinks that you’re buying. The new sugar tax has seen a price hike on any drinks with a certain level of sugar within them, and cutting these out completely or reducing the amount that you are buying can help save on costs.
- Invest In A Water Filter
If you’re a regular drinker of bottled water, cutting down on the amount you buy could be as simple as investing in a water filter. While arguably one of the smaller changes that you can make in everyday life but investing in a water filter could save you significant amounts of money. In places where the water is heavily chemically treated or even isn’t treated at all, it is often beneficial to buy bottled water to drink. With a water filter, however, you can save yourself money and have clean water to drink with only a one-time investment in the filter itself or on a fresh filter when needed.
- Dry Clothes On The Line
By drying your clothes on the washing line where possible, you can save yourself a large amount of money on your electricity bill. This is something that can easily be invested in and set up and will have a profound effect in helping you save money. If you don’t have a garden, you could also be beneficial to utilize space in your home with an indoor line or a clothes airer as this will help to dry it in a more natural way without costing on electricity.
- Make Your Own Cleaning Products
Another key way that you can save yourself money is to make your own cleaning products rather than spending out on branded alternatives. Many of the items that we have in the fridge can be used for everyday cleaning without costing a fortune. With a simple combination of lemon and baking soda and vinegar, you have a universal cleaner that will clean all over your house in no time at all allowing you to have a sparkling house on a budget.
- Be Smart With Purchases
When it comes to spending, something we’re all guilty of is buying things we either don’t need or making purchases without thinking them through. From something as simple as picking up supermarket own bread as opposed to branded or buying in bulk for special discounts, to stopping by a second-hand store if you need a new jacket, being flexible with your purchases can help you save potentially hundreds of pounds depending on the items you are purchasing.
With all this in mind, it is now easier than ever to live frugally and allow yourself to save and spend as you need to without wasting money. From planning out your meals and shopping list to being smart with the purchases you do make, being frugal can quickly become a way of life. Enjoy!