Frugal living is not something anyone should look down on. It’s a common misconception that frugal living is the same thing as living cheap, but it’s not the same thing. Some of the wealthiest people in the world live a very frugal lifestyle. Warren Buffett has lived in the same home since he first bought back in 1958. They look for the best deals, they look for discounts and ways to save money whenever they can, and they try to put their money to good use. They want the best for their dollar, and they’re not afraid of frugal living. If you’re looking to make a frugal living lifestyle change, you might need a few suggestions on how to help you live more frugally and save more money.
Sign Up for Automatic Payments
Late fees are budget killers. It might only happen to you a few times a year, but it really adds up when you’re paying fee after fee. If you make one credit card payment even a day late every month with an average late payment fee of $35, you’re looking at spending $420 per year on just one late payment. By signing up for automatic payments and debits with your creditors and any company you pay regularly, you avoid late fees and save a ton of money.
Grow Your Own Food
If you have a yard or even a small space outside where you can add a few pots, grow some of the food you eat the most. If you can’t create an entire garden, it’s all right to try creating something a little smaller, like an herb garden. Things like basil and cilantro grow quickly and efficiently, but they’re awfully expensive to pick up at the supermarket. If you grow them at home, you save a lot of money and have fresher herbs to use while cooking.
Make Wiser Purchases
Sometimes the idea of being frugal makes you think you need to buy the cheapest of everything, but that’s incorrect thinking. Being frugal means getting the best deal, and it doesn’t always mean getting the best price. For example, you can buy clothing that’s cheap and must be replaced every few months. It’s cheap, but you’re buying a lot of it. On the other hand, you could go out and spend a little more on Ariat’s fire resistant clothing because it’s designed to last a lifetime.
A company like Ariat might not have the lowest prices for the clothes you want, but they’re designed to last through the years, fires, and even the hard work you do. You could buy some fire resistant jeans that cost triple what another pair costs, but you’re not replacing them 10 times in the next five years. They’re more expensive upfront, but a lot more affordable over the years.
DIY Home Projects
Your spouse might decide it’s time to remodel the kitchens or the bath, lay new floors in the main living area, or decorate the baby’s nursery before she goes into labor. Don’t automatically go looking for a handyman to do the job for you. Do it yourself. Even if you don’t consider yourself very handy, you can find what you need on the internet and learn quickly.
There are millions of videos and articles teaching you how to paint your own cabinets for a few hundred dollars rather than replacing them for tens of thousands of dollars. You can learn to lay floating hardwood floors online or install a tile backsplash and save thousands on the cost of professional installation. You can do anything you want if you take the time to do your homework and research it. Doing this puts you well on your way to a more frugal lifestyle.
Living frugally is much easier if you comprehend what it really means. It’s not all about finding the cheapest clothes or staying home rather than going out. Living frugally is all about finding the best value for your dollar even if it means spending a little bit more money on certain things. Once you grasp the concept, the lifestyle becomes so much easier. It’s not only going to save you a lot of money over the years, it’s going to make your life more enjoyable.