I’m a believer that when it comes to personal finance you need to look at both sides of the equation: income and expenses.
But before you focus too much of your time on income you first need to make sure that you have your spending in line. After all, if you spend every penny you earn then you’re never going to be able to save any money.
Here are ten sustainable frugality tips that I have used to keep my spending in line for the long term.
Invest in Quality Items
Frugality is not being cheap. Instead frugality is making smart decisions about your money.
Instead of cheap items that you’re going to have to replace every few months (or years) invest in a higher quality item the first time around. This will save you money in the long run.
Boss Your Money Around
Or, in other words, create a budget.
I have a feeling that you already know what a budget is so no need to rehash that here. (If you don’t know check out this article on budgeting for lazy people and this one on how to create a bare bones budget).
Plan Your “Splurges”
It’s unrealistic to think that you’re never going to spend money on “wants”. Trust me, you are going to occasionally spend money on yourself.
So, instead of caving to impulse purchases assign yourself a little “fun money” that you can guiltlessly spend each month.
Learn to Cook
Eating out all the time can get soo expensive. You need to learn how to cook for yourself instead!
If you have no idea what you’re doing in the kitchen then look online or check out some YouTube videos. There are more resources on budget friendly cooking than you’ll be able to read in your lifetime. Take advantage.
Buy Used
Always look for used items before buying new. You can get higher quality items at a much lower price.
Use It Up
There’s a fun little saying floating around Pinterest and it is the golden rule to frugality “Use it up, make it do, or do with it.”
The first rule is use it up. Use what you have. Don’t go grocery shopping until you’ve cleared the pantry. Don’t buy new tennis shoes
when the ones you have are perfectly fine. Don’t throw away a bottle of shampoo
that still has a few washes in it. You get the point……….
Make It Do
This rule will challenge your creativity. Instead of running out to the store and buying items you need try and work with what you already have.
Let your imagination run wild. This can be a fun thing.
Do Without
This rule is self-explanatory. Instead of caving into your normal, comfortable routine do without the things that you don’t absolutely, positively need.
Have a Goal
Frugality for the sake of frugality is downright pointless. You need to have goal behind your frugal ways. A strong financial goal will motivate you to keep going when saving money gets tiring or boring.
Experiment
There are no set-in-stone rules to frugality. You don’t have to follow the trends or do what everyone else is doing to save money. Keep experimenting until you figure out what works best for you and your family.
What’s your best frugality tip?
Looking for more money tips? Check these out:
The correct old timey saying is “Use it up, wear it out, make it do or do without.” Our grannies and grandma’s quoted it a lot.
All good. I believe in the saying Use it up, make do or do without.