Living a simple, frugal life looks different from person to person. Your preferences and goals ultimately determine how you live. Don't feel like you can't ever spend any money while cutting back on your lifestyle.
These frugal living tips can help you enjoy life while managing your money and saving some along the way.
1. Travel Economically
Vacations are definitely still an option even when you're living a frugal life. If you value travel, you can curb your spending in other areas. Frugal travel planning may take some creativity. Instead of booking expensive hotel suites, use other accommodation options like Airbnb or Vrbo. Instead of hopping on a plane, choose destinations that you can drive to. Road trips can be fun, and you can pack your food instead of stopping at restaurants.
2. Cook Your Meals At Home
Dining out can be costly. Save on food costs by cooking in more than eating out. If your culinary skills are challenged, the internet is your friend. Search any food item, and tons of recipes and videos will show you how to cook simple, expensive meals. Most people overspend in the area of food because they lack time. However, there are many meals that you can prepare in under 30 minutes. Meal planning (batch cooking) once a week can also keep you out of the kitchen every night.
3. Borrow Or Shop Used
For things you really need or want, see if you can buy them used first instead of purchasing the items new. Thrift store shopping has become all the rage, as well as social media marketplaces. If you need to buy textbooks for school, you can even borrow or rent them instead of buying them new. Buying used and borrowing can save you thousands of dollars that you can put toward other financial goals.
4. Reduce Entertainment Costs
You can enjoy some of your favorite entertainment activities at low or no cost. If you use a credit card that offers rewards, save up your points and use them to book your next vacation flight or take your significant other out for dinner at a fancy restaurant. If you're a sports fan, check out a high school game instead of splurging on a professional sporting event.
5. Monetize Your Hobbies
What are your hobbies? If you're a singer, musician, craftsperson, or have other talents, why not make some money doing what you love? Tap into your side hustler nature and earn money without feeling like it's work. Use the extra cash to pay off debt while you continue living frugally.
Frugality isn't about being cheap. The purpose of living frugally is to allow you to spend your money on the things you value the most. You not only save money, but you gain more control of your life. To optimize the money you have to meet your goals and stay within your budget, consider frugal living.