Money is not easy to come by so you have to be very responsible for the way it is spent. In this article, we will look at 26 frugal money saving tips to help you manage your money. Below are my top 26 tips:
26 Frugal Money Saving Tips
Money can never be too much so you have to find ways to save take a look at these tips and see which ones you can best apply to your everyday life.
1. Don’t Turn on the Water Faucet at its Maximum Level
Whenever you are taking a bath, there is no need to turn on the water at its maximum level, especially if you are not in a rush. Turning it at higher levels can make your water bills soar high. Thus, if you take control of it, then you should be able to save some money by conserving water more effectively.
2. Try to Enjoy Leftovers
Holidays and family events always have a lot of food so you know there are always leftovers. Sometimes more than you can handle. Do not waste this food store them properly in air-tight containers in the refrigerator. Heating them up for your meals instead of throwing them away could save you a lot of money.
3. Cook Your Own Meals
Cooking your own meals could help you save lots of money. This is because buying the ingredients for a certain recipe is definitively more affordable, than eating out in restaurants or fast-food chains. Just make sure to cook healthy meals, so that you can also ensure that you are getting the nutrients you need.
4. Buy Basic Things in Wholesale Prices
There are lots of basic things that a person needs, and buying them at retail prices can pile up the cost. Thus, it is best if you buy them in bulk since that would give you a chance to purchase them at wholesale prices. In doing this, you would be able to save lots of money, aside from the fact that you can have a good supply of your needs.
5. Shop Online
Shopping online can give you an opportunity to save some amounts of cash. If you do your research, you would find out that most items found through the internet are more affordable than those that are sold in local stores. The reason behind this is that online stores have lesser overhead expenses. Thus, shopping in a modern way should help you save up some cash.
6. Buy Used Items
Buying used items compared to buying those that are brand new is definitely more affordable. Thus, if you want to save money, then you should begin shopping around for used products. To find them, you can always go through the internet, visit garage sales, or check out some local auctions.
7. Buy an Alternative
When you do your research, you would find out that lots of products that you need have available substitutes. Thus, you should consider purchasing the substitutes of the items that you need, which are more affordable but can offer you the same thing. For example, instead of buying a high end branded item, you can check out its equally competitive alternative, which can offer the same features at a lower price.
8. Look for Coupons
There are lots of coupons available today, which you can access through the internet. These coupons can offer you discounts on certain fast-food chains, restaurants, as well as in local stores. All you have to do is to sign up for the websites that offer them and follow the simple instructions provided.
9. Take Advantage of Sale, Especially After the Holidays
Taking advantage of a sale, especially those that are offered after the holidays can help you save lots of cash. For example, in most cases, decorations would become very affordable after the Christmas season. Thus, if you want to save money, you can always purchase them for the following year.
10. Credit Card Promotions
Credit card promotions are offered every now and then, in which it can provide you with a way to save some money through gift cards, gift checks, or discounts on certain stores and restaurants. Some can even offer a cashback option, for a certain amount of credits used, or when you purchase from certain stores.
11. Fix Things up Yourself
Before tossing out an item, you should see if you can repair it yourself first. By doing that, you would be able to save money by not having to purchase a new one. To fix something up, you can always ask your friends for tips regarding it. Aside from that, you can also check out some troubleshooting tips through the internet.
12. Avoid Spending Through Credit Cards.
Spending through credit cards is one of the best ways to pile up your debt. Thus, if you want to save more money, you should purchase on a cash basis only. Save the credit cards for emergency situations only. Every item you purchase with the use of your credit card can add more to your existing debt and your monthly surcharge; thus, it is time that you leave them at home when you go out to shop.
13. Gaming at Nights
If you and your friends are quite fond of going out at nights, especially on weekends, then you should invite them for a gaming night at your place. This would help you all in saving lots of money. All you have to do is to take out your favourite board game, buy some snacks and drinks, and enjoy a good time at your place, without spending lots of money in bars or coffee shops.
14. Watching Movies at Your Place.
If your family wants to spend some time with you by watching a movie in town, you should consider watching one at your own house. Renting a video at a shop near your place should do the trick. Pair it up with some popcorn and sodas, and your family would have a great time with you, while you are not worrying about the total cost.
15. Swaps are Good
Swapping your things that you are not using anymore for a new item, is one of the ways of saving money when it comes to acquiring something new. Swapping can be done through the internet, with your friends, or with certain shops. You can swap your shoes, books, music, movies, games, gadgets, and more, for items that you want to have so that you won’t have to
spend a dime in getting it.
16. Buying Magazines at a Newsstand
If you are quite fond of certain types of magazines, buying them at the newsstand should be avoided. This is because they are usually priced too high when you purchase them from these types of stores. To save money, you can always subscribe directly to the magazine. Aside from that, check out their websites, since they might even offer e-magazines, which you can conveniently download into your computer for free or for a very affordable price.
17. The Lottery
If you are fond of playing the lottery, you should seriously think about your odds of winning it. There is very less likely that you would hit the jackpot in the lottery, and each time you play it, you are actually spending more cash. Thus, if you simply want to be entertained, then you should consider playing at a casino since the cost is pretty much the same, the odds would be better, and it can provide you with more entertainment.
In travelling, one of the best things that you can do in order to save huge amounts of money is to book way ahead of time. This is true, especially if you book online. Lots of airlines are actually offering discounts for early bookings today. Aside from that, you should also keep in mind that booking a vacation package is also more affordable, than booking your hotel, flights, and cars separately.
19. Your Travel Time
To save up some money, you should be flexible when it comes to your travelling times. For example, in booking flights, if you are not in a hurry, red-eye flights are actually good to book in terms of saving cash, although you may not want your children travelling late. Aside from such types of flights, travelling to certain vacation spots during the off-season can also be a good idea, when it comes to saving on costs.
20. Going From one Building to Another
If you are at a city centre, where you are anticipating to move from one building to another to look for certain types of items, then you should park your car at a garage or parking area, which is located centrally. This way, it would allow you to leave it there, instead of driving it around town and consume more gasoline. With that, you would be saving more money, and even get some exercise.
21. Car Rental Insurance
If a car rental company offers you an add on car rental insurance, you should stop for a moment, and think about your own auto insurance. Most auto insurance companies today provide policies, where your auto insurance coverage would also apply to your rental car. Thus, if this is the case, then you should decline the offer. However, it is still best to call your insurance provider for that, just to make sure.
22. Riding a Bike.
When you are on your way to a place where it is a bit far for a walk, then you should make use of your bike. Biking can prevent you from using more fossil fuel, which can harm the planet, aside from costing you money. With that, you should always ride your bike, so that you consume lesser amounts of fuel, and save more money.
23. Talking to a Travel Agent
If you are not getting anywhere in trying to book more affordable flights and accommodations online, you should know that many travel websites have travel agents working for them. They are usually reachable through their 800 numbers on a 24-hour basis. Thus, giving them a call should provide you with the assistance that you need, in order to find the package that you really want.
24. Having an Affordable Vacation
During the holidays, people usually go to distant places to spend their vacations on. However, if your finances are quite tight or you simply want to save money, then you should consider having a vacation in the city where you are living it. By doing that, you would be able to rediscover your place. Aside from that, since you won’t be going out of the place, you won’t have to spend quite a hefty sum of money on your flights.
25. Using the ATM is another of the Great Frugal Money Saving Tips
It is always best to use your bank’s ATM machine, whether you want to process a withdrawal, fund transfer, or even just checking for your balance. This is because when you do these things in another bank’s ATM machine, you would be charged by that bank, as well as your own bank for certain fees.
26. The Card’s Annual Fee
There are credit cards today that offer free annual fees, while some do not. Credit card companies that charge annual fees may have added features into their cards. However, in most cases, such features are not very applicable to lots of people. Thus, it is best to choose cards that won’t charge you annual fees, so that you can save more money on a yearly basis.