Payday Not Big Enough? Here Are Some Frugal Living Tips
Posted: 14 July, 2023
Modified: 14 July, 2023
Finally, it’s PAYDAY! It’s your money and you worked hard for it. But, making your dollars stretch until your next payday can be a challenge. We make financial choices everyday. The choices are endless. If you feel the money pinch, your are not alone. Did you know that almost 60% of Americans, across all income brackets, live paycheck to paycheck? Being frugal is not just about spending less. It’s spending smart. It’s doing the best with what you have. By being frugal, you can change just a few of your spending habits and see it pay off in big ways. SCORE! Do I have to sacrifice what I love you ask. Of course not! The trick is to figure out how to get what you love at a better price.
There are many creative ways to save money. Are you ready to explore some frugal habits and start saving your cash? The first thing you need to do is create a budget. You know your expenses that come around every month like rent, utilities, car payment, and loan payments. The difference between your income and these monthly expenses is your living expense. You would use this money for things like food, gas, entertainment, and clothes. Figure up how much cash you want to spend on each category. This is your budget. (read our blog about living on a budget) It’s hard to live these days without a cell phone, PC, tablet, or high speed home internet. But, you can live without the latest, greatest version. If they work fine, don’t upgrade! Perform maintenance on your big ticket items like your car. Keep it clean, change the oil, check the tires. I know car repairs are expensive, but buying a new car would be way worse! (Read our blog about preparing for a financial emergency) Buy used. If you need clothes, furniture, or home decor check out your local thrift store, consignment shop, or estate sales for great deals. Instead of going out, invite your friends over to stream that new movie or play games. Make it a potluck to save even more money. Other money saving ideas could be learn basic sewing skills, swap talents with friends, use old towels as cleaning cloths or shop rags, or pack a picnic for that fun day trip. Pay with cash. When you do everything online and pay with a credit or debit card, it’s easy to lose track of how much you spend. It’s harder to hand over your hard earned cash for goods and services. (Read more in our blog about Money Stuffing)
There is no better way to reduce your daily spending than making your own meals and eating at home. Do you grab breakfast at the drive-thru on your way to work or order takeout in the evenings? I bet you are spending way more money than you realize. If you spend $10 per day on takeout 5 days a week, you are spending $2600 a year! Make meal planning a priority. Eating meals at home is cheaper and healthier. Start out by making a menu and grocery list. It takes some extra time upfront but it’s worth it. Double check your fridge and pantry to make sure you aren’t over buying. Did you know that throwing away spoiled or wasted food costs a family of 4 around $2500 a year?! When you do your grocery shopping, try store brands for instant savings. You can cook the same meals for less and probably can’t even tell the difference. Save your leftovers! Ham and cheese can be tossed into a salad or mixed with scrambled eggs. Sauté your leftover veggies in a skillet, add some rice and you have a quick stir fry. Or, pack your leftovers for lunch the next day. It’s a good way to control portion size, count calories, and save money until your next payday. That’s a WIN/WIN!
Is there a difference between being frugal and being cheap? YES! A frugal person is creative and resourceful. They wait for good pricing and know how to stretch their paycheck. A person that’s cheap is usually after convenience, speed, a quick fix, and just saving a buck. They usually make low quality purchases. A frugal person is more aware of what they spend rather than just swiping their card. Be intentional and aware. It’s your money!
Being frugal is an attitude and lifestyle. Make being frugal a habit and you will see real results. It’s never too late to start saving money. Something is better than nothing. Wouldn’t you like to keep more cash in your pocket?
Modified: 14 July, 2023
Finally, it’s PAYDAY! It’s your money and you worked hard for it. But, making your dollars stretch until your next payday can be a challenge. We make financial choices everyday. The choices are endless. If you feel the money pinch, your are not alone. Did you know that almost 60% of Americans, across all income brackets, live paycheck to paycheck? Being frugal is not just about spending less. It’s spending smart. It’s doing the best with what you have. By being frugal, you can change just a few of your spending habits and see it pay off in big ways. SCORE! Do I have to sacrifice what I love you ask. Of course not! The trick is to figure out how to get what you love at a better price.
There are many creative ways to save money. Are you ready to explore some frugal habits and start saving your cash? The first thing you need to do is create a budget. You know your expenses that come around every month like rent, utilities, car payment, and loan payments. The difference between your income and these monthly expenses is your living expense. You would use this money for things like food, gas, entertainment, and clothes. Figure up how much cash you want to spend on each category. This is your budget. (read our blog about living on a budget) It’s hard to live these days without a cell phone, PC, tablet, or high speed home internet. But, you can live without the latest, greatest version. If they work fine, don’t upgrade! Perform maintenance on your big ticket items like your car. Keep it clean, change the oil, check the tires. I know car repairs are expensive, but buying a new car would be way worse! (Read our blog about preparing for a financial emergency) Buy used. If you need clothes, furniture, or home decor check out your local thrift store, consignment shop, or estate sales for great deals. Instead of going out, invite your friends over to stream that new movie or play games. Make it a potluck to save even more money. Other money saving ideas could be learn basic sewing skills, swap talents with friends, use old towels as cleaning cloths or shop rags, or pack a picnic for that fun day trip. Pay with cash. When you do everything online and pay with a credit or debit card, it’s easy to lose track of how much you spend. It’s harder to hand over your hard earned cash for goods and services. (Read more in our blog about Money Stuffing)
There is no better way to reduce your daily spending than making your own meals and eating at home. Do you grab breakfast at the drive-thru on your way to work or order takeout in the evenings? I bet you are spending way more money than you realize. If you spend $10 per day on takeout 5 days a week, you are spending $2600 a year! Make meal planning a priority. Eating meals at home is cheaper and healthier. Start out by making a menu and grocery list. It takes some extra time upfront but it’s worth it. Double check your fridge and pantry to make sure you aren’t over buying. Did you know that throwing away spoiled or wasted food costs a family of 4 around $2500 a year?! When you do your grocery shopping, try store brands for instant savings. You can cook the same meals for less and probably can’t even tell the difference. Save your leftovers! Ham and cheese can be tossed into a salad or mixed with scrambled eggs. Sauté your leftover veggies in a skillet, add some rice and you have a quick stir fry. Or, pack your leftovers for lunch the next day. It’s a good way to control portion size, count calories, and save money until your next payday. That’s a WIN/WIN!
Is there a difference between being frugal and being cheap? YES! A frugal person is creative and resourceful. They wait for good pricing and know how to stretch their paycheck. A person that’s cheap is usually after convenience, speed, a quick fix, and just saving a buck. They usually make low quality purchases. A frugal person is more aware of what they spend rather than just swiping their card. Be intentional and aware. It’s your money!
Being frugal is an attitude and lifestyle. Make being frugal a habit and you will see real results. It’s never too late to start saving money. Something is better than nothing. Wouldn’t you like to keep more cash in your pocket?