Frugal Living Tips

Making ends meet when the finance is barely enough to meet the needs. However, the challenge begins when one needs to cut down expenses, and beginning to save can be very hard because man’s needs are insatiable despite the static income.

To be frugal means to be careful about spending money or using things when you do not need to. It also means using money or supplies in a very careful way. To improve your financial situation and learn to live more frugally, now is the time. Indeed, there is no time to start saving or planning for your future; you can start whenever you feel like you have been extravagant.
Frugal living is about being resourceful rather than cheap without really conserving anything almost penny-wise pound foolish. To be frugal implies limiting waste, but being cheap means saving money. Saving and budgeting for high-quality things that will last a long time is preferable to buying cheap ones and having to replace
them sooner.

Being frugal, however, can be helpful when you’re struggling to put food on the table. More so, Food is a major item in many homes’ budgets, and eating cheaper is a big step toward living cheaper. This helps you cut down excesses that may be good but not needful. This is a good way to save some money. Another way of frugal living is living in a smaller and more comfortable apartment you can afford without stress because the luxury apartment can be beautiful but a waste as there would be rooms you wouldn’t need yet to live a stressful lifestyle that wouldn’t permit you to save comfortably. It is however vital to know that budgeting goes a long way to save one from being extravagant, it does offer a glimpse into how you can enjoy your small space better or save money by downsizing your space.

Frugal living has a way of reducing financial issues in relationships as the majority of the issues in relationships have their roots in finance. Therefore, transforming members of the family’s spending habits is crucial, as it affects the breadwinner of the home. One can look out for seasonal sales when things are a lot cheaper yet you get your desired target at a cheaper price. Frugal Living doesn’t require you to spend so much time finding out local and online stores and sales to window shop alone, rather find the best price yet meet up with your budget.
This implies that you don’t have to live without; you just have to spend the money you have wisely.

Checkout some series on Frugal Living Here

Ways to begin frugal living

·      Live within a budget- learn not to spend outside the budget. This doesn’t mean you should budget extremely low amounts for your family this can lead to mental stress. Gradually downsize things. Prioritize and take
care of necessary costs first, which may include rent, mortgage payments, payday loans or cash advance payments, food, petrol, utilities, medicine, and any expenditures linked with child care.

·      Get a specific account without cards or access where a specific amount of money is saved monthly. Keep your receipts to make it easier to track your real monthly  expenditures.

·        Avoid things that make you spend more.

·        Seek economic advice.

·        Don’t buy anything you can’t pay for immediately this would help you live a debt-free life.

·        Avoid gambling, student debt, and financial scam

·        Sell off things you have that you don’t use anymore e.g. Used cloths

·        Learn to be financially responsible and disciplined.

·        Learn to eat homemade foods or source out restaurants that sell affordable and delicious meals.

·        Learning to do things yourself (DIY) saves you the cost. While engaging in DIY ensure you are Being frugal.

·    Begin on time to plan for retirement. It’s vital to always remember that as you grow older your strength reduces, therefore there is a need to think of what to invest in that would take care of your needs when you can no longer get a job as a result of aging.

·        Eat healthy, exercise more to avoid being ill which would make you spend more than budgeted.

·        Save a percentage of your income set aside for family health.

How to source cheaper prices to enhance the frugal living

• Look out for grocery stores that sell quality items yet at a cheaper rate.
• Shop on the first and last days of giveaway sales because prices would be cheaper. The items may be limited on those days but the prices would drop drastically.
• Be observant on the days of the week when prices are a lot cheaper and make purchases on those days.
• Stop impulse buying. Sometimes window shop, go with a list containing items you need.

Conclusion

 Finally, frugal living doesn’t require cutting off pleasure. Create time for your family member even if it’s 1’s in 3 months, don’t also forget the basics. This shows you are prudent and wise with money management.