Are you lost in a financial fog? Is your debt level on a continuous rise, with money coming in and going out almost instantaneously but zero progress on your part?

You’re stuck in a 9 to 5 job or a job you don’t enjoy, wondering where it all leads… you’ve heard about other people getting out, and you are interested. Changes need to be made.

Frugal living seems like a place to start but is it for you? What is it exactly? …. You need a framework, a road that can lead you out of this haze and towards your dreams… and that is where frugal living comes in.

Frugal Living is absolutely NOT what you think

Contrary to popular belief, frugal living does not imply cheap living. It's not about being stingy or giving up on all of life's pleasures to live a gray and miserly life. 

It is, in fact, quite the opposite: It is to be mindful of your values, your work, the way you live, and what you consume.

It is to value everything you bring into your life and everything you give out. Because when you value things, life has more meaning… it becomes more fulfilling.

Find Your WHY - Discover the Reason You want to be Frugal

Now that you know what frugal living is about, do you feel interested in it? If you do, why do you think so?

Once you discover the driving force behind something you want to do, the REAL reason, it can be used as a powerful driving force. 

Finding that reason is key because when you know it, achieving what you desire becomes natural, easy.

Living frugally comes with many advantages, some of which are:

- Early retirement

- Early payment of mortgage

- Financial resilience

- Ability to ride out a financial crisis

- More control over spending on what you love and what will improve your life

- Promotes great values

- Promotes creativity

- Builds community

- Eco-friendly

- More savings, more investments

The above advantages may hit you on a deep level. Which one of these hit a nerve? Spark interest?

Perhaps it's worth devoting some time to sit down and figure out precisely what you want from your life- now and in the future. It's always a balance between living for now and preparing for the future.

We don't have to give up all enjoyment to have a great future - get creative, or even better, get a financial coach or advisor. There are so many brilliant coaches and courses out there which can help you get focused and get ahead in ways you never thought possible. 

An investment in a coach, or good financial advice, will return itself over and over again for the rest of your life.

Once you have the understanding that, in most cases, your financial position is more about how well you organize your money than about how lucky you are, or how much you deserve to have money, or even how much you earn - you will never look back.

You’ll be surprised what you can achieve

The tips in this article are more suggestive. You can choose what works for you. Not everyone is comfortable doing things the hardcore way straight out of the gate. For most, starting step by step will be more feasible.

Introduce new practices into your life - and see what works for you, your lifestyle, and personal values. 

You might find that once you start off, it’s just a bit addictive… seeing money add up in your bank account - and debts going down is a great feeling. We all want us some more of that!

It’s all about mindset … getting the RIGHT mindset…

Is Frugal Living a Beautiful Lifestyle? YES … REALLY!

Many people attest that frugal living brings beauty into their lives. Take Elizabeth Willard Thames from Vermont, for example. 

Elizabeth left her city career and embraced a simple, frugal lifestyle, rejoicing that she could retire at 32 to lead the life of her dreams on a small farm in the countryside.

Families worldwide are downsizing and living more modest lifestyles that force them to get creative and work together to have fun. It encourages them to think outside the box and make the most out of their lives in a less stressful environment. 

People pay off mortgages years ahead, gaining the freedom to travel and enjoy life.       

                                      

To achieve the life you want, become confident in who you are and empower yourself to follow your goals –consciously allow yourself to be happy. There are plenty of frugal living blogs where you can find community, support and practical knowledge to enhance this wonderful new lifestyle.

It’s about allowing money to bring us more. Money brings comfort. Money is both power and time. Money can bring with it a certain amount of happiness, giving you the luxury of time with your kids and loved ones. 

It blesses you with more time for activities you love, playing sports, and taking care of yourself and the others around you. Embracing the positive power of money will help you bring these good things into your life.

Simply put, frugal living is truly a mindset of abundance- it is the opposite of stress and hardship. When you enter the lifestyle with the right outlook, the practicalities become easier and more attainable.

Basic Rules to Living a Frugal Life (In a Nutshell)

It’s basic math: money coming in needs to be greater than money going out.

To achieve this equation, you will need to:

- Ensure a comfortable inflow of money

- Reduce the amount of money you spend

- Invest and save the difference

You can achieve this by:

- Having the right mindset

- Living below your means

- Investing your savings

- Automating your savings, payments, and investments

- Avoiding consumer debt                                                               

- Getting the kids involved - making it fun

- Buying for quality

- Knowing the difference between spending and investing

- Eating your food (there are so many benefits to this - not just financial)

- Not wasting energy. This covers many areas...

- Not wasting time- this doesn't mean being busy all the time - rather - prioritizing what you love doing and making sure you do enough of that

- Use it up, make do, or go without it

- Setting time frames - nothing lasts forever. Hence, you must plan for the different phases in your life.

Valuable Frugal Living Tips to save you thousands

Now that we have established the reasons for and the type of mindset you will need, here are the concrete, practical, frugal living tips you will need below.

Introducing these into your life at your own pace will lead you towards a less stressful life, where richness is not just about money – but enjoyment, and time, on your own terms.

SHOPPING

- Practice the 30-day rule for larger items (wait and think for 30 days)

- Buy sale items - including food, clothes, and others

- Purchase second-hand items where possible

- Avoid trendy fashion/expensive brand items

- Keep receipts and make returns happen

- Get free stuff from companies.

- Do not impulse purchase

- Shop on Craigslist

FOOD

· Plan your meals

· Shop with a list and stick to it

· Buy items on sale and plan your meals around the items on hand

· Homemade lunch/lunch box meals

· Brew your own coffee

· Buy the ham and slice it yourself

· Eat whole and healthy food

· Buy fresh in-season produce

· Start a vegetable and herb garden

· Eat less meat and more legumes

· Invest in an Instant Pot/Slow cooker and buy cheaper cuts of meat

· Go generic

· Buy in bulk when it makes sense

· Don’t buy bottled water

· Get up to 40% back on purchases using cashback apps

· Meal prep to avoid takeout meals

· Stock your freezer:                               

       - buy meat and other items on sale and freeze them

       - prepare meals ahead of time and freeze them for busy days 

· Eat all leftovers

· Make cheap meals - there are loads of healthy and affordable recipes on the internet

Consume Old fruit in the following ways:

· Make jam

· Bake a cobbler, crumble, or crisp. ...

· Freeze to make smoothies later. ...

· Slow-cook pancake or sundae sauce. ...

· Use as toppings for grilled fish or meats. ...

· Prepare salad dressing.

HOUSE

- Downsize and move to a smaller house or to a more affordable neighborhood,

or closer to work or school to save on travel costs and time

- Choose the Right Place to Live: live in an area where people are like-minded or at least have similar lifestyles and aspirations. Nothing kills a budget and leads to a lack of fulfilment like trying to keep up with the Joneses.

- Insulate your walls

- Insulate the attic; serious money saving can be achieved here

- Renovate wisely

- Practice preventive maintenance

- Fix it yourself

- Make Your House your home on the cheap

- Put on a sweater and turn down the heating

- Buy a space heater

- Unplug small appliances

- Check your HVAC system

- Install LED bulbs

- Turn lights off

- Fix leaky faucets immediately

- Install a low flow showerhead

- Install a low-water-use toilet

- Buy surge protectors

UTILITIES

- Learn ways to save energy

- Spend $0 for internet by buying your modem

- Automate bills to avoid late payments

- Get rid of the house phone.

- Shop around for insurance rates

CLEANING/HYGIENE/LAUNDRY

- Skip the salon

- Take military showers

- Buy non-branded laundry detergent

- Make your laundry detergent

- Use non-branded products

- Use homemade cleaners

- Use vinegar

- Use a clothesline to dry laundry

- Wash clothes in cold water

ENTERTAINMENT/GIFTS

- Make DIY gifts instead of purchasing them

- Find free fun

- Have game nights

- Turn off The TV

- Be creative with what you find.

- Use the library

- Shop garage sales

- Eat at home, make it fun, and cook together

- Discover community classes and facilities

- Find deals on Groupon

- Cut cable and save $80 per month

- Check your subscriptions and unsubscribe to as many as possible

BANKING/FINANCE

- Pay down your debt

- Pay off your debts and leave it that way. Do not apply for more loans

- Play Safe with Credit Cards >

- Freeze or close your credit cards

- Automate your savings and investments - mentioned earlier but can’t be stressed enough

- Use money-saving apps.

- Build an emergency savings fund

- Invest your spare change

- Avoid late fees

- Check statements for errors

- Refinance loans

TRANSPORT

- Try to own a single car or buy a cheaper car

- Can you work from home?

- Carpool

- Take advantage of free public transport

- Use apps to check who sells the cheapest gas

- Ride a bike

- Walk to locations

HOLIDAYS

                                                                                

- Buy discounted holidays

- Travel during off-peak seasons

- Be an early bird

- Workaway.com for free holidays that mean something

- House swap

- Housesit

- Camp

- Staycation

- Use Airbnb

- Use booking.com

OTHER/GENERAL

- Decide what you need… really need

- Think long-term when making decisions

- Buy used, whenever possible

- Buy high-quality pre-owned clothes

- Repurpose the fabulous clothes you already have

- Wear hand-me-downs.

- Avoid using disposable items

- Determine which things you can do without

- Look for free community classes

- Get educated for free

Frugality can also mean Earning More

The other side of frugality is earning more. Once you have cleared the muddy waters and set a budget, cut down your costs and adjusted your lifestyle, you will see that any added income is a bonus that can make a significant difference to your savings. You can get creative here also:

- Sell your no longer needed items for cash

- Airbnb a room in your house

- Airbnb your house when you go on holiday

- Get a housemate

- Request a pay rise

- Change jobs to a more fulfilling or better paying job (both of these things will improve your lifestyle)

- Start a side hustle

- Make money from your hobbies

- Walk dogs/pet sit

- Sell your no longer needed items for cash

Frugal Living Killers to Avoid

These things will seriously hamper your new lifestyle. Most of them are deeper personal problems, and all of them will cost you precious resources. 

Dig deep and work out how you can overcome any of these habits you may have. This will give you the best opportunity to improve your life.

 

- Consumer debts

- Gambling

- Smoking

- Buying now and paying later

- Wasting food

- Purchasing from expensive and high-end brands

- Keeping up with the Joneses

And lastly:

- Listening to naysayers- Whenever you try something new, there will always be naysayers. 

People don’t do well with change. They don’t like it. They’re scared of it. Don’t take it personally, and don’t let it hold you back. Once people start to see the new you emerge, they will take an interest in what you are doing. Look at it as a way to discover who your real friends are.

FAQs

How to be frugal for beginners?

Start small. Choose 2 or 3 things from the tips above to start immediately. Be honest with yourself and examine your mindset and your values. Get your budget planned – there are plenty of free templates out there. 

Or, get a financial coach/advisor who understands you and can help you clarify WHY you are doing this and HOW to do it. Keep building on your dreams AND your practices - they work hand in hand.

How can I be more frugal in 2022?

Now, more than ever is the best time to start getting frugal. With so much uncertainty in the world, it's time to take control of the reins where you can and get yourself and your family into the best position possible. 

Being in control of finances and knowing exactly where you stand removes a lot of the stress of not knowing or even of being in denial. We all need less stress in our lives.

Can frugal living make you rich?

Yes. Many people have become rich with this lifestyle. People have resurfaced after paying vast debt, retiring early, travelling, and living their dreams. It's truly up to you.

But first, you must define rich. What is being rich for you? Is it retiring early and living simply in the country? Is it traveling the world for work… or not for work? Is it extra time with your kids and family? Define it for yourself and make it a goal.

Let’s go!

So now you are coming out of the haze and can see the life-changing possibilities of a frugal lifestyle - it's time to begin.

Choose two or three of the simple, frugal living ideas from the list you feel most comfortable with and implement them right now. Then add more as you are ready and keep building. It's as easy as that… remember… one step at a time. You will gather momentum and become unstoppable.

Mindset is everything. Living life on your terms with savings in the bank and zero debt is achievable if you plan, take action, and, most importantly, know WHY you are doing it.

Once you have the bug and start getting results, you will be hooked, and there'll be no stopping you.

Create goals, write them down, pronounce them to the world, and go for it.