So many people think that to live a frugal life is to live a live devoid of joy – a life where you meet your basic needs, but not much more than that. That is so far from the truth that a lot of people are shocked when they actually see how frugal people do live their lives.
I mean, when you’re spending less money on the essentials in life, you have more cash leftover to buy a really great home, enjoy an amazing vacation and have the kind of experiences that other people aren’t having because they’re blowing all of their money on cable TV, expensive cell phone contracts and costly restaurant meals!
So, it’s fair to say you can be frugal and live a good life. If you’re sold in the idea of living more frugally, here are some ideas to help you cut your costs and start living it up.
Create a Budget
You might not think that creating a budget like this one at Hands on Banking is in any way a representation of living the good life and it can be time consuming to set up and maintain a budget. However, when you know exactly how much you have coming in, how much you need to save, and how much disposable income you have to play with, it makes life easier. You don’t have to agonize over every little financial decision because you know what you do and do not have. So actually it gives you a lot more freedom day to day!
Buy Your Food in Season
If you love your food and aren’t willing to compromise on quality to save a few dollars, don’t worry – you don’t have to. If you commit to eating fresh whole foods when they are in season, you’ll cut your grocery bill and eat some of the most delicious meals of your life. Food that’s in season is always at its best! You might have to learn how to cook – Youtube is your friend – but you will be living it up while living for less. Oh, and if you want to save even more money on good food, buy anything with a long shelf life in bulk – it’s often cheaper!
Stream Your Entertainment
If TV is your thing and you’re an average American, you’re probably spending upwards of $103 month on cable – that’s $1,236 dollars every year! It’s also complete madness when you can purchase a subscription to Netflix for as little as $11.99 per month, a subscription to Amazon Prime for $99 per year and get Hulu for free – and those are just a few of your options. You can make your own viewing experience, watch all the shows you enjoy and do so for a fraction of the cost. Cut the cord and start streaming – you know it makes sense.
Use Auction Sites
If you check out Dealdash sitejabber, you will see just how good auction sites can be at saving you big money on the expensive tech you enjoy. If you think that you can’t have tech on a budget, then sites like DealDash, where you can pay for bids and potentially pick up big ticket items for a few dollars, are great! Providing you know what you’re doing. If you don’t mind buying used or reconditioned tech (it’s mostly just as good as new) other sites like eBay and eBid are also good options. It’s just a matter of knowing your limits and sticking to them no matter what.
Take Connecting Flights
Okay, so connecting flights are pretty much no one’s favorite thing, but if you want to head off on a sweet vacation without breaking the bank, booking a flight with a connecting flight is a great way to save some dollars. You can save that money or use it to have an even better time at the destination of your choice.
Become a Minimalist
This is one of those things that really rubs people the wrong way and makes them think that frugal people are insane. “I mean, who gets rid of all their stuff?” is their crying call. It’s understandable. In this consumer culture we live in, the idea of getting rid of lots of your stuff and living in a home that’s pretty bare, by the average person’s standards, does seem a bit weird. But tt can be really liberating! When you have less stuff, you have less things that need to be cleaned, maintained, and insured. You also have more space in our home for hobbies, friends and fun. And becoming a minimalist doesn’t mean you have to get rid of all but the kitchen sink. It just means that you think carefully about the stuff that does bring meaning/joy/happiness/usefulness into your life and get rid of the stuff that doesn’t. The money you save on not buying things you don’t really need, or even truly want, you can use for more vacations, building up your emergency fund or saving for an early retirement – it’s a win-win situation.
Switch to One Car
Depending on where you live and your family schedules, this may not be a possibility, but if you have two cars and live in a city with public transportation or live close to work, you’ll save hundreds if not thousands of dollars over the course of the year with just one car. And you’ll have fun riding together, riding a bike, taking the bus and just generally finding new ways of getting around.
Downsize
If you’re living in a property that is much bigger than you need it to be, and it’s costing you a lot to run, downsizing to a smaller property could be a good move. Not only will you be less worried about the cost of living, but you’ll have fewer rooms to worry about cleaning and furnishing. You can still have space, just a more realistic amount of it.
Do Your Fine-Dining at Lunch Time
If you’re a big fan of eating out and you like to do so at the finest restaurants, you might think that living a frugal life is incompatible with your little indulgence, but you can save money even when it comes to haute cuisine. The trick is to eat at slower times – going for lunch or brunch instead of dinner. Many restaurants will have a cheaper menu at those times, so you can get something good to eat without totally breaking the bank.
Ditch the Gym
Gym memberships can get pretty expensive, but if you’re a fitness fanatic, you need them, right? Wrong! It is perfectly possible to get a good workout using your own bodyweight, free outdoors gyms, by running or even by investing in your own set of weights or equipment (although this might be more expensive upfront, it will work out cheaper over time). You won’t have to worry about making it to the gym before work – the outdoors and your home equipment are always available to you.
As you can see, it really is possible to live the good life on a frugal budget. You might be skeptical, but give some of these ideas a try, and you might just be converted to a more frugal way of living.