More Frugal: 12 Easy Ways to Save Money (2024)

More Frugal: 12 Easy Ways to Save Money (1)

How to be more frugal without really trying

Are you constantly trying to save more and spend less?

If so, you’re not alone. Saving more and spending less is always one of the top battles we face every day.

One of the best ways to save money is to adopt a frugal lifestyle. Frugal does not have to equal boring. You just have to be get a little more creative with your thinking. Thankfully, I’ve made that a little easier for you!Below, are 12 almost effortless ways that you can be more frugal today!

Suggest cheaper alternatives

If a friend invites you to a movie, suggest watching one at home. If a relative wants to spend the day at an amusem*nt park with the kids, suggest a free or low cost museum. If a co-worker thinks a trip to the book store would be fun, suggest the library.

Cheaper entertainment alternatives can still be fun!

Switch to homemade coffee

Did you know, you only need to spend $27.40 a day to blow $10,000 in a year?

There are many great coffee beans on the market (Kicking Horse, Melitta, even Starbucks and Tim Hortons sell their coffee in grocery stores) that taste just as good, if not better, than the kind you will pay 10x the price for at your local coffee shop.

Many small local coffee shops sell more locally roasted coffee beans that you can take home to brew yourself.

There are also so many fancy coffee creamers and flavorings available at grocery stores, soon you’ll be enjoying your homemade cup even more than store bought!

More Frugal: 12 Easy Ways to Save Money (2)

Flip and rotate your mattresses

A mattress can be a big investment. Take care of your investment by flipping and rotating it every three months to extend its life span. This is a great way to be more frugal.

Keep in mind that foam mattresses, like our Endy mattress can only be rotated. Most of the new foam mattresses can’t be flipped. But rotating it will still keep it in tip top shape!

Stockpile groceries

I’m a big fan of stockpiling. I believe that in addition to using coupons, stockpiling is one of the best ways that you can save money on your grocery bill each month.

Set aside a bit of money each month for stocking up on great deals that you know you will use. When those sales come around, pick up as many as you need and can afford, and add them to your stockpile so you can make it until the next great sale.

Use Less

It really can be as easy as simply using less. Use less hand soap, less laundry detergent, less dish soap and even using half a dryer sheet. You probably won’t notice a difference in how products like these perform!

Invest in energy efficient products

There are some things you should spend your money on, such as energy efficient products.

If you’re in the market for a new dishwasher, refrigerator, washer and/or dryer or chest freezer – take a look at the energy efficient models available. They may cost a bit more, but considering all the money they will be saving you in the future, they are well worth the investment.

Don’t forget about smaller energy efficient products, such as LED light bulbs. These do cost more than traditional incandescent light bulbs, but they last much longer.

Free download: The Ultimate Money Saving Guide.

Shop the Sales

Perhaps a no brainer, but there’s really no need to pay full price for most things. Sales always come along on groceries, electronics, cars, clothing, furniture and more. If you are planning a purchase anyways, make sure to purchase when it’s on sale. There’s no easier way to be more frugal!

Don’t use the Dryer

If you can, don’t use your dryer to dry clothes. Use a clothes line or drying rack instead. Not only will this save money on your utilities bill, but it will keep your clothes looking and feeling newer, longer!

Cook in Bulk

I love doing this! If I’m already cooking something that freezes well, I’ll make a big batch so I can freeze half or more. This not only creates an easy meal for a busy night, it helps me avoid the temptation of expensive take out. I like to do this with taco meat, spaghetti sauce, meatballs, shepherd’s pie, Chicken Pesto Pasta Shells and chili.

Cut off the ends of ‘Empty’ Tubes

When you think your hand cream is empty or your makeup is definitely gone, cut off the ends of the tubes or plastic bottles. You will be amazed to see how much is actually left!

Sign up for Rewards Programs

No matter where you live, most retailers offer some kind of rewards program. Some offer points that you can redeem for free products, some offer discounts and some offer cash-back. This can save you big bucks without really trying!

In Canada, my personal favourite rewards programs are:

Buy used

One way to save a ton of money this year, is to buy used for everything you possibly can. Do you need new clothes for your kids? Check out thrift stores in your area. Need a new couch? Facebook marketplace is great for that!

Being frugal does not mean you live a life of deprivation. You are simply being smart about the resources that you have and learning to love the simple pleasures in life.

What is one thing you are going to start doing today to be more frugal? Or what are some things you already do without thinking, that are frugal?

More Frugal: 12 Easy Ways to Save Money (2024)

FAQs

More Frugal: 12 Easy Ways to Save Money? ›

The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

What is the 50 30 20 rule? ›

The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

How to be frugal and save money? ›

Ten Frugal Habits to Save Money
  1. Track Spending.
  2. Automate Your Savings.
  3. Save Loose Change.
  4. Compare Prices & Comparison Shop.
  5. Avoid Spending Triggers.
  6. Shop Second Hand.
  7. Save Windfall Income & Use a Spending Rule of Thumb.
  8. Institute a Waiting Period.

How to save $5,000 easy? ›

Here are eight ways to save $5,000 in a year with small, manageable steps.
  1. “Chunk” Your Savings. ...
  2. Automate Your Savings. ...
  3. Save in a High-Yield Saving Account. ...
  4. Track Your Cash Flow. ...
  5. Boost Your Earnings. ...
  6. Declutter for Cash. ...
  7. Evaluate Your Subscriptions. ...
  8. Challenge Yourself.
May 3, 2024

How much money does an average 12 year old have? ›

Average allowance for kids and teens in 2022
AgeAllowance
10 years old$8.67
11 years old$9.45
12 years old$10.68
13 years old$11.78
11 more rows
Jun 27, 2023

What is the 40 40 20 budget rule? ›

The 40/40/20 rule comes in during the saving phase of his wealth creation formula. Cardone says that from your gross income, 40% should be set aside for taxes, 40% should be saved, and you should live off of the remaining 20%.

How to divide income to save? ›

The rule is very simple in practice. It asks you to break your in-hand income into three parts. 50% of the income goes to needs, 30% for wants and 20% to savings and investing. In this way, you will have set buckets for everything and operate within the permissible amount for each bucket.

How to be extremely cheap? ›

What are some tips for being frugal?
  1. Create a budget and stick to it. Being frugal begins with this tip. ...
  2. Shop around for the best deals. Buy what you need from the first store you see, but don't just go to the first one you see. ...
  3. Buy used instead of new. ...
  4. Make your own stuff. ...
  5. Repurpose and recycle. ...
  6. Be patient.
Aug 22, 2023

How to live really frugally? ›

10 Frugal Living Tips
  1. Make A Budget. ...
  2. Rein In Entertainment And Dining Out. ...
  3. Save Money On Groceries And Home Goods. ...
  4. Slash Money On Home Expenses. ...
  5. Spend More Effectively On Self-Care. ...
  6. Find Ways To Cost-Cut On Necessities. ...
  7. Make The Most Of Your Spending. ...
  8. Reconsider Unneeded Spending.
May 4, 2023

How to stop being so cheap? ›

Set a budget and save for an item, even if it is something that seems extravagant, like designer jeans or a new fancy blender. You'll enjoy your purchase even more if you know you can truly afford it. Comparison shop for higher-priced items. Frugal people do research before purchasing.

How can I save $100000 fast? ›

7 tips for getting your first $100,000
  1. Figure out how much money you can safely save each month. ...
  2. Automate your savings. ...
  3. Maximize your employer-sponsored savings and investment accounts. ...
  4. Save your tax refunds and work bonuses. ...
  5. Pay off existing debt. ...
  6. Seek a raise or some other way to increase your income.

What is the envelope savings method? ›

The concept is simple: Take a few envelopes, write a specific expense category on each one — like groceries, rent or student loans — and then put the money you plan to spend on those things into the envelopes. Traditionally, people have used the envelope system on a monthly basis, using actual cash and envelopes.

What is the 100 envelope challenge? ›

It works like this: Gather 100 envelopes and number them from 1 to 100. Each day, fill up one envelope with the amount of cash corresponding to the number on the envelope. You can fill up the envelopes in order or pick them at random. After you've filled up all the envelopes, you'll have a total savings of $5,050.

How much money should a 15 year old have in his bank account? ›

“A good rule to live by is to save 10 percent of what you earn, and have at least three months' worth of living expenses saved up in case of an emergency.” Once your teen has a steady job, help them set up a savings program so that at least 10 percent of earnings goes directly into their savings account.

How much pocket money should a 7 year old get? ›

Weekly pocket money average earnings by age
Child's ageAverage weekly pocket money
6£3.04
7£3.26
8£3.67
9£4.12
9 more rows
Jul 8, 2023

Should I give pocket money? ›

Even children need money. They might not be buying their own food or paying their own bills, but pocket money can be a great tool to help children learn how to manage their own money. By giving children a fixed amount on a regular basis, you can help them learn how to budget and teach them good savings habits.

What is a 50/30/20 budget example? ›

Applying the 50/30/20 rule would give them a monthly budget of: 50% for mandatory expenses = $2,500. 20% to savings and debt repayment = $1,000. 30% for wants and discretionary spending = $1,500.

Is the 50 30 20 rule outdated? ›

However, the key difference is it moves 10% from the "savings" bucket to the "needs" bucket. "People may be unable to use the 50/30/20 budget right now because their needs are more than 50% of their income," Kendall Meade, a certified financial planner at SoFi, said in an email.

What is the disadvantage of the 50 30 20 rule? ›

It may not work for everyone. Depending on your income and expenses, the 50/30/20 rule may not be realistic for your individual financial situation. You may need to allocate a higher percentage to necessities or a lower percentage to wants in order to make ends meet. It doesn't account for irregular expenses.

When should you not use the 50 30 20 rule? ›

Depending on your income and where you live, earmarking 50% of your income for your needs may not be enough. For example, if you live in a high-cost area, you may have to put a large part of your income toward housing, making it difficult to keep your needs under 50%.

Top Articles
Latest Posts
Article information

Author: Mr. See Jast

Last Updated:

Views: 5897

Rating: 4.4 / 5 (55 voted)

Reviews: 86% of readers found this page helpful

Author information

Name: Mr. See Jast

Birthday: 1999-07-30

Address: 8409 Megan Mountain, New Mathew, MT 44997-8193

Phone: +5023589614038

Job: Chief Executive

Hobby: Leather crafting, Flag Football, Candle making, Flying, Poi, Gunsmithing, Swimming

Introduction: My name is Mr. See Jast, I am a open, jolly, gorgeous, courageous, inexpensive, friendly, homely person who loves writing and wants to share my knowledge and understanding with you.