It’s easy to moan and groan when bills come in and wish that you were better at saving money but why not do something about it? It can be difficult but you do need to spend some time planning how you can live frugally. You may need to change your entire outlook and lifestyle but it can be worth it if you’ve got more cash available at the end of the month. We’ve collected together some top tips to help you live well and spend less.
Don’t buy if you don’t need to
Before you make a purchase take a few minutes and ask yourself if you need the item you’re thinking about buying. The majority of things people buy are impulse purchases and aren’t necessarily things they actually need or really want. If you’re making the decision to live frugally then these purchases must stop.
Rather than always buying things brand new, consider quality second-hand goods. You can find plenty of nearly new items as much as 50% cheaper than the original price. Then you can return the favour and sell the items on for others afterwards.
If you go out for meals regularly or even buy takeaways you’re practically giving money away. Make the most of your cooking skills and make from home from scratch. If you cook the same meals at home and make packed lunches for work you’ll soon see the difference to your bank balance.
Buy a Chest Freezer
A chest freezer might seem like a big expense if you’re trying to save money but in the long-run it can be a lifesaver. It gives you the opportunity to buy food in bulk as well as cooking up large meals and then freezing them. It gives you the chance to save food that may go to waste otherwise too.
If you have a garden then make it work. You can grow your own vegetables and herbs and save yourself the cost of buying them in the shops. It also helps you save money and energy and it is great fun for the whole family to sort out their harvest.
There’s a whole world of free entertainment out there. If you’re moving from overspending to frugality then it is truly time to think “I’m going to sell my iPad today” and use the money for the benefit of your family. Think of all the free resources around your local area from libraries to parks there are plenty of fun things to do. You can also find community events including fairs, live shows and much more for cheap ticket prices throughout the year.
Don’t Use Credit Cards
Credit cards have their advantages as they can help you appear like someone banks can trust when you need a larger loan or perhaps a mortgage. However you should only use them if you have the money to pay back the balance in full straight away – don’t let them get you into unnecessary debt.
Try living frugally and watch your bank balance get healthier by the day.