How To Become Frugal: A way of life that chooses time over money
We live in a world where people are always chasing after the next best thing. They work long hours so they can buy things that they don’t actually need. And then they are disgusted with their life and wonder why they don’t have any time for the things that matter most.
Does this sound familiar to you? Now that you have obtained it, do you find the American Dream unappealing? If you are here I am assuming you do, just as I do.
Stop working 50 hours a week and having someone else raise your children because everyone else is doing it. Let’s take a deep dive into some of my favorite being frugal and thrifty tips and what they can offer you!
What does it mean to be frugal?
Being a thrifty person is all about living a more simplified life. It is about not needing as much money so you can free up more time. And time is one of the few things that once it is spent, you can never have back. Once it is gone, it is gone forever. That is why being frugal is so important. It allows us to focus on the things that matter most in life.
Is it good to be frugal?
There are many reasons why you should want to be frugal. First of all, it can save you a lot of money. If you can reduce your household expenses, you will have more money to save or use for other things.
Secondly, it can help you become debt free. By learning how to live a more thrifty lifestyle, you can pay off your debts and become financially independent.
Finally, being frugal can free up your time. You will no longer have to work long hours just to make ends meet. You can use that time to spend with family and friends or do the things you love.
As a nurse, I often speak with elderly, sick, and terminally ill people. I often inquire about their job, family, and past accomplishments as well as any regrets they have. The one thing I hear more than any is how fast life passes by them. It is a recurring message that almost every elderly person agrees upon. It is this message that has rung in my ears and pushed me towards focusing on what matters the most to me, spending time with my family!
So, why should you care about being frugal? There are many reasons, but the three most important ones are that it can save you money, help you become debt free, and free up your time.
How to change your mindset when it comes to spending money
When it comes to spending money, it is important to have a healthy mindset. Too often, people spend money without thinking about the consequences. They buy things that they don’t actually need and quickly find themselves in debt. This can cause a lot of stress and anxiety, which is not good for your health.
To have a healthy mindset when it comes to spending money, you need to be mindful of your decisions. You need to ask yourself if you need the thing that you are buying. And you need to be honest with yourself. If you can’t afford something, then don’t buy it. It is that simple.
Another thing to bear in mind is that you should be careful when comparing yourself to others when it comes to finances. Just because someone else can afford, or believes they can afford, to buy expensive things doesn’t mean that you should too.
It’s ok to buy wants from time to time, but making a habit of it will only be setting yourself up for failure. I promise you, extra time with your family is far more valuable than anything you can buy on a shelf.
Lastly, remember that frugal and thrifty living is not about being cheap. It is about living a more simplified life and spending your time wisely. So, make sure that the things you buy are actually worth your time and money.
The benefits of being a frugal person - both financial and non-financial
Financial benefits
- Save money
Being frugal can save you a lot of money. You can use that money for other things, like paying off your debts or saving more. A frugal lifestyle can free up your time so you no longer have to work long hours just to make ends meet.
- Become debt free
Debt can be a major burden, both financially and mentally. It can cause a lot of stress and anxiety. By making a budget and sticking to it you can quickly start finding extra money each month. This will help you stay on track and pay off your debts quickly.
- Free up time
With less money to spend on bills each month, you won’t need to work as much. You will quickly find that spending less time at work gives your life much more fulfillment.
Emotional benefits
More time for family and friends
One of the best things about being frugal is that it gives you more time to spend with family and friends. Instead of working long hours, you can now use that time to do the things you love. You can also use that time to visit with loved ones who may be far away.
You learn to appreciate the simpler things and find more joy in everyday moments. You no longer have to worry about keeping up with the Joneses. Instead, you can focus on your happiness and well-being.
Less stress and anxiety
One of the best things about being frugal is that it can lead to less stress and anxiety. When you are not worrying about money, it reduces your stress and anxiety. You will also have more time to do the things you love instead of working 50+hours a week.
More financial stability
Being frugal can lead to more financial stability in the long run. If you focus on the conscious spending of money you will find that you have more of it. This can be used for several things, like saving for a rainy day or investing in stocks and mutual funds.
The hardest part about living a frugal lifestyle
The biggest struggle for me when it comes to living frugally was overcoming the social stigma. I soon realized that many people think that frugal living means being cheap and not enjoying life. However, after reading a lot about the topic and practicing a more mindful approach to spending, I was able to change my mindset and adopt some new habits. Now, I save money without feeling deprived and enjoy the extra time I have with my family more than ever.
Of course, there are also many times I have to pass on buying something I want because I don’t want to use the money. This is where you have to carefully allow yourself to buy things you want, but only if it will add value to your life. This means that you should not be buying things on a whim or out of impulse. If you need something, then go ahead and buy it, but make sure that it is something that will benefit your life in some way.
Another thing to keep in mind is that you should try to be conscious of the way you spend your money. Try to be mindful of what you are buying and why. Are you buying things because you truly need them, or are you just trying to keep up with the Joneses?
Frugal living tips for a frugal life - from groceries to entertainment
Frugal living tips for Groceries
The grocery store is where my family spends the most out of our budget. We’ve recently started implementing a few new measures to keep our grocery expenditure as low as possible. Saving money at the grocery store is the first place every family should start! Let’s look at some money saving tips!
Buy in bulk
Another money-saving tip for groceries is to buy them in bulk. This can be done at either a store or online. By buying items like laundry detergent, paper towels, and toilet paper in bulk, you can save a lot of money in the long run. Take caution, though, if you start throwing things away as a result of expiration dates!
Meal planning
Another great frugal living tip for groceries is to meal plan. This means that you will create a list of meals for the week and then shop for those specific items. This will help you stay on track with your food budget and avoid spending money on unnecessary things.
Compare prices
One of the best frugal living tips but also the most difficult way to save money on your grocery bill is to compare prices between stores. This can be done by either using a price comparison app or by shopping online. It can be painstaking but does let you stretch your dollar even further. My wife jumps between our local grocery store, Target, and the Walmart app to find the best prices! (She’s amazing!)
Buy off-brand items
Another way to cut costs at the grocery store is to purchase off-brand equivalents. These items can be just as good as name-brand items, but they are usually a lot cheaper. This can be done for things like cereal, pasta, and even clothes! Look for things you buy frequently, saving a few cents on something you buy once a month won’t make a huge dent in your budget.
Coupons
Coupons are another great way to save money on groceries. You can either use paper coupons or digital coupons. Just make sure you aren’t buying unnecessary things just because you have a coupon for them! Using a service like Swagbucks can also get you cash back!
Shop Online for Groceries
The biggest benefit of online purchases (besides staying in your PJs) is it’s much easier to stay focused and buy only the things on your list. By doing this, you can cut back on impulse purchases that eat away at your grocery budget!
Pay with cash
This was made famous by the great Dave Ramsey! If you have never heard of his cash envelope system, then let me give you a quick rundown. He suggests putting your monthly budgeted amount for food and groceries into an envelope.
When you go to the store or to a restaurant you use the cash from the envelope instead of your credit or debit card. The thought behind using cash is that it is more psychologically painful to use cash than a debit card! Don’t believe me try it!
Shop for produce at local farmers' markets
Living a frugal life means thinking outside the box. Purchase fresh, healthy produce from local farmers’ markets. These markets usually have much lower prices than grocery stores, and the produce is much fresher. Plus, you can chat with the farmers who grew the produce, which is a fun experience for the whole family!
Frugal living tips for Housing
Find a roommate or live with family members to save on rent/mortgage payments
One way to reduce your monthly expenses is to find a roommate or live with a family member. This can help you split the cost of your monthly bills, including your mortgage, and give you more money to pay down debt. In addition, living with someone else can help you to feel less isolated, and you may even form a stronger bond with your roommate or family member.
Of course, living with someone else does have its challenges, and it’s important to be sure that you are compatible before deciding to move in together. However, if you can find a good match, sharing your home with another person can be a great way to reduce your monthly costs.
Get a cheaper place to live
If you are looking to save even more money on your monthly, consider finding a cheaper place to live. This could mean downsizing to a smaller house or apartment or moving to a less expensive area.
Of course, this isn’t always easy and it may require some adjustments on your part. However, because your home is one of your largest monthly expenditures, you will lower your monthly costs and free up money to pay down debt while also possibly working less.
Live in an area with low property taxes
Property taxes are a fact of life for most homeowners, but they can vary widely from one area to another. If you’re looking to save money, one of the best things you can do is to move to an area with lower property taxes.
Of course, this isn’t always possible, but it’s worth considering if you have the flexibility to do so. Not only will you save money on your property taxes, but you’ll also likely enjoy lower taxes on everything from your car to your groceries.
Frugal living tips for Utilities
Turn off electronics when not in use
A shout out to all the dads out there! One of the easiest ways to save money on your energy bill is to turn off electronics when they are not in use. This includes televisions, computers, and even lights. If you can get into the habit of turning these things off when you’re not using them, you’ll quickly see a decrease in your monthly electric bill.
Transition to LED light bulbs
Making the transition to LED light bulbs is one of the easiest ways to save money on your electric bill. LED bulbs use less energy than traditional incandescent bulbs, and they last much longer. Making the switch to LEDs can save hundreds on your energy bill. And it’s not just light bulbs that can make a difference.
Several other energy-efficient products can help you save money and reduce your carbon footprint. Energy-efficient appliances, for example, can use up to 50% less energy than their traditional counterparts. So if you’re looking to advance your frugal living journey, start by making the switch to energy-efficient products.
Frugal living tips for transportation
Carpool with friends or co-workers
If you’ve ever found yourself muttering “I hate traffic” as you inch your way to work, carpooling with friends may be the solution for you. Not only will it help to reduce the number of cars on the road, but it can also save you money.
Since the cheapest gas is the gas you never have to buy, carpooling will put more money in your pocket at the end of the week. Just think – you can stop spending unnecessary money at the pump each week. Carpooling is a win-win for everyone involved.
Take public transportation, bike, or walk instead of driving
If you’re tired of shelling out money for car payments, auto insurance, and gas, it might be time to consider taking public transportation instead of driving. In many cities, public transportation is reliable, affordable, and convenient. And if you’re worried about the environmental impact of driving, take comfort in knowing that taking public transportation can help reduce your carbon footprint. So next time you’re stuck in traffic or dealing with a flat tire, remember that there may be another way to get around.
Frugal living tips for entertainment
Spend time outdoors instead of going to the movies or bars
Saving money doesn’t have to be all about counting pennies and cutting corners. One of the best frugal living tips is to simply spend less time indoors. After all, going out to the movies or a night at the local bar can quickly eat up your hard-earned cash.
Instead, why not take advantage of all that free entertainment the great outdoors has to offer? From hiking and biking to picnicking and stargazing, there are endless ways to enjoy the fresh air without spending a dime. Some of my best memories with my wife, before toddlers, were our long hikes in the woods!
Saving money by attending free events in your community
If you’re looking for cheap entertainment, you can’t go wrong with attending free events in your community. From concerts and plays to art exhibitions and festivals, there’s sure to be something to interest you. And the best part is that you won’t have to spend a dime! I have used Facebook and my local paper to find some great local events in the past. Give it a try!
Frugal living tips for Clothing and Accessories
Shop at thrift stores or consignment shops
Shopping at a thrift store or consignment shop can help you save money on clothing. You can often find affordable clothing that is in good condition, and you may even be able to find name brand clothes for a fraction of the price you would pay at a regular store. It’s also a great option if you are looking for a vintage or unique items.
However, it is important to keep in mind that thrift prices can vary widely, so it is important to shop around and compare prices before making a purchase. Overall, shopping at a thrift store or consignment shop may help you save money on apparel while maintaining style and quality.
Spend money on clothes during sales or clearance events
Shopping for clothes can be a frustrating experience. Not only are there endless choices, but prices can be sky-high, especially for designer labels. However, there are a few ways to shop for clothes without breaking the bank. One option is to buy discounted gift cards. Sites like Gift Card Granny sell cards for up to 60% off, which can be used at a variety of stores.
Another option I have used is to buy things through a site like Swagbucks. Let me give you two examples of some deals I got recently. The first was on a pair of ADIDAS sneakers I needed for around the house. I went through Swagbucks and on a pair of $48 shoes, I received $12 in Swagbucks to use on another gift card. I’ve noticed the more specific the brand, the better deal you can get!
The second example is on some clothing for my children. If you go to the Swagbucks discount page and click on the category you are looking for, you can sort by “Highest Discount.” Here you can buy discounted gift cards for as much as 25% off! I then use these cards for shopping for clothing for my kids or whatever else pops up.
Another option is to buy during sales or clearance events. Many retailers have regular sales, and it’s often possible to find items for 50% or more off the original price. Finally, don’t forget that thrift stores can be a great source of affordable clothing. It may take some digging, but it’s often possible to find hidden gems at a fraction of the cost of new items. By following these tips, it’s possible to save money on clothing without sacrificing style.
Frugal living tips for Food and Drink
Cook at home instead of eating out
This is the biggest one for our family as we have 4 children. If we were to eat out for every meal our monthly food costs would be approx 4 times as much as they currently are! On top of that the food you get when you go out to eat is unhealthy and in my opinion, doesn’t taste as good. By cooking yourself you can save so much money!
Now, this is a plug for Hellofresh which if you have read my other articles you know how much my wife and I love their food! It isn’t so much of a cost saver at first but once you get a build-up of your favorite recipes from them, you will be hard-pressed to find better meals out there. We eat from our Hellofresh recipe book 3-5 times every week!
Look for deals when you eat out (Free Food!)
When living frugally nothing is better than free stuff! One great frugal life hack is to find restaurants that have deals where kids eat free. This is a great way to save some extra money when you finally have a night out.
Pack your lunch and make your own coffee
If you’re like most people, you probably spend a lot of money on coffee and lunch every week. In fact, according to a recent survey, the average American spends $1,092 on coffee every year. That’s a lot of cash to shell out for something that you can easily make at home.
And while you may not be able to replicate the experience of your favorite barista, with a little practice, you can come close. So save yourself some money and learn to make your own coffee. Your wallet will thank you.
Also, it’s not just the expense of lunch that puts a dent in your budget – delivery fees, app fees, and tipping the driver can add even more money to your bill. So it comes as no surprise that more and more people are saving money by brown-bagging it!
There are plenty of benefits to packing your own lunch. For one, it’s cheaper than buying food from a restaurant or cafe`. You can also control what goes into your food, which is important if you’re trying to eat healthily. And since you’re not waiting in line or dealing with service staff, you can save a lot of time by packing your own meals.
Of course, there are some downsides to brown-bagging it. For example, you have to plan and make sure you have all the ingredients you need. And let’s be honest – sometimes it’s just nice to have someone else make your lunch for you! But if you’re looking to save money and eat healthier, packing your lunch is worth considering.
Being frugal when it comes to Household Supplies and services
Negotiate a lower price with your service providers
Personal finances can be a tricky thing. On one hand, you want to get the best possible value for your money. On the other hand, you don’t want to appear to be a cheapskate or unreasonable. So how do you strike the right balance when negotiating with service providers? Here are a few tips:
First, do your research. Know what similar businesses are charging for their services. This will give you a good starting point for negotiation.
Second, be prepared to walk away. If the service provider is not willing to budge on price, then it may be time to look elsewhere.
Third, be polite but firm, remember that you are the customer and the service provider wants your business. Be confident in your negotiation and don’t be afraid to ask for what you want.
Cut back on cable TV or cancel it altogether
Cable TV is quickly becoming a thing of the past. With the high cost of cable bills and the increasing availability of streaming services, more and more thrifty people are cutting back on cable or canceling it altogether. There are several reasons for this shift.
First, cable bills are notoriously expensive, and many people are tired of overpaying for channels that they don’t even watch. Second, services like Netflix and Hulu offer a much wider selection of shows and movies, making it easy to find something to watch without flipping through hundreds of channels.
Finally, streaming services are more convenient than cable, as they can be watched on any device with an Internet connection. For all these reasons, it’s no wonder that cable TV is on the decline.
Stick to a budget
Without a budget, it is nearly impossible to keep track of your spending. Don’t get me wrong, budgets are painful to write out, but once you have one written it will only take an occasional tweak to keep it up to date. So make a date that you and your spouse can sit down and get one done and do it!
The importance of having an emergency fund and how to start building one up
For many non frugal people, living month-to-month is the norm. They just barely make enough to cover their expenses, with very little left over. This can be a dangerous way to live because it doesn’t take much for an emergency to come up and leave you in a difficult financial situation. That’s why it’s so important to have an emergency fund.
A savings account or emergency fund gives you a cushion of money to fall back on in case of a major or minor bump in the road. It also gives you the peace of mind of knowing that you’re not one unexpected expense away from ruin.
Saving up for emergencies is a great way to give you some peace of mind, but it can be difficult to save up the cash when you’re already on a tight budget. Here are a few creative ways to build up your savings!
Do odd jobs for cash. If you have some extra time on your hands, put it to good use by doing odd jobs for people in your community. Whether it’s mowing lawns, walking dogs, or running errands, there’s bound to be someone willing to pay you for your help.
Have a garage sale. Go through your stuff and see what you can live without. Then have a garage sale and put the money you earn towards your emergency fund. Not only will you declutter your home, but you’ll also be one step closer to financial security.
Get paid for your hobby. If you enjoy knitting, gardening, or another activity, why not try selling your products? You may be surprised at how much money you can earn from your hobby. And who knows? You might even be able to turn it into a full-time business.
teaching your children about a frugal life so they can benefit from it in the future
As any parent knows, teaching children about money can be a difficult task. On the one hand, you want your children to be financially responsible and understand the value of money. On the other hand, you don’t want them to grow up to be penny-pinching Scrooges! One way to strike this balance is to teach your children about the benefits of living frugally.
By instilling in them a respect for money and helping them to set financial goals, you can give them the tools they need to live a prosperous and happy life – without sacrificing their enjoyment of the finer things in life. So how do you go about teaching your children how to live frugally? Here are a few tips:
Encourage your children to live within their means. Help them set realistic financial goals, and teach them how to stick to a budget.
Teaching them to be thoughtful about their purchases. Help them understand that there is no need to buy something simply because it is on sale or because everyone else has it.
Encourage your children to be resourceful. Teach them how to shop in second hand stores, garage sales, and online auctions. Show them how they can save money by repairing rather than replacing items.
By following these tips, you can help your children learn the benefits of those who live frugally – and reap the benefits yourself! After all, what could be more gratifying than seeing your children grow up to be financially responsible adults?
Conclusion
A frugal life is worth living because it can help you focus on the important things in life, like spending time with your family and friends. It can also help you save money so that you have more freedom to do what you want. While some sacrifices come with a more frugal lifestyle, I think they are well worth making. What about you? Are there any other reasons why you think a frugal life is worth living? Let me know in the comments below!
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