Saving Money - The Frugal Life

This post contains affiliate, distributor, or referral links that keep this site growing.

For more information on this, please see our Disclosure Policy.

If you are low on cash and/or looking to save, try a few of these tips!

Some are more extreme than others. Since no individual/family is completely like another, pick the ones that you think would work best for you.

These emojis will show you how I am doing on the list.

🎯= where I am on target

🚀= what I am working on

⏰ = In time, I will be doing this.

No icon = That tip is not applicable or not for me.

Finance

• Determine financial priorities. Establish a budget. Set Savings goals. 🚀I am still working on the budget. We save every penny we can.

• Become budget-conscious. Learn to consider your budget before making purchases. 🚀

• Use a budgeting app to track your expenses and find areas to cut back. I prefer paper.

• Once you get spending under control, set up sinking funds. Sinking funds are any upcoming purchase, usually the bigger ones. You set aside a specific amount of money for each sinking fund when you get paid. For example, I know that I will need tires soon. I start setting aside money for that purchase. Or... I know that I would like to have a vacation next summer, and I've start setting aside money for that vacation. ⏰

• Establish an emergency fund. $1000 is a great start, but I'd say that saving a month's worth of income to have set aside for emergencies is best. ⏰ I have my bank app set to put round-ups away for emergencies.

• Eliminate your debt, start with the highest interest bills first. Pick one and pay the highest on that one, and then the next. ⏰ This one will have to wait until we get our housing crisis situated.

• Refinance higher debts at a better interest rate. ⏰

• Improve your credit score: Work on your payment history  🚀, monitor your credit utilization if you decide to use credit (you want your usage under 30%), reduce your outstanding debt, don't run credit unless absolutely necessary, and keep your older credit card accounts (just be extremely careful in their use, pay on it every Friday). 🚀 I use my Current Credit Card to build credit.

• Round up on purchases in your bank account and put them into savings or emergency accounts. My Current account automatically does this for me.🎯

• Set up your account to put a percentage into savings each month. ⏰

• Spend extra or unexpected income wisely. Pay down debt, stockpile food, improve your home, or create an emergency fund. OR don't spend it at all, put it straight into savings. 🎯

• Get rid of credit cards if you know you cannot manage them wisely. For those who tend to neglect their financial responsibilities, use credit cards to buy unnecessary items, and accumulate debt, it may be time to let them go and regain control of their lives! 🎯 I do not use credit at this time except for my Current Credit Card, which uses money straight from my account and saves it to build credit.

• If you choose to use credit cards, use rewards cards.

• Know the difference between needs and wants, and freeze the wants. 🎯

• Try going No-Spend for a day, a weekend, a week, or a month!

  Extreme - go a whole year!🎯 We are on a total no-spend until our housing crisis is over.

• Keep a record of your spending, that way you will see what is adding up. 🎯

• Keep track of your credit report. I use free CreditKarma. 🎯

• Use only free ATMs or the ATMs connected to your financial institution. 🎯

• Use a change jar. Save your coins, roll them yourself (the machines that count them for you charge a fee), cash them in, and then add the money to your emergency fund. 🎯 Or I just heard a new hack where people use their coins to pay at Walmart self-checkout, they just dump them in, and many times get paper money back.

• Auto-pay is your friend if you tend to pay bills late and then get dinged with late fees. Just be sure to work with your lenders and adjust the payments at different times throughout the month so that they are spread out. All the accounts coming due at one time can create a potential disaster. 🚀

• Open a high-yield savings account. This is a great place to store your sinking funds and the coins you turn in. 🚀

• Try Acorns - This is an excellent app that allows you to save and invest by rounding up on purchases. ⏰

• The Flexible Spending Account (FSA) is a fantastic option for managing your healthcare expenses. It allows you to set aside pre-tax dollars for medical costs, helping you save money while staying healthy. Whether it’s for prescriptions, doctor visits, or other eligible expenses, an FSA can be a smart financial tool in your toolkit.

• Check for your state's Free Sales Tax Events. Sadly, my state doesn't do this.

• Depending on your experience and skill level with taxes, hiring an accountant can be a worthwhile investment. Knowing that you have a trusted professional looking out for your best interests allows you to focus on other important aspects of life that you otherwise wouldn’t have time for. Another significant benefit is the greatly reduced risk of missing out on opportunities within the tax code or incorrectly filing, which could lead to penalties down the line. 🎯

• Ask for a raise or more hours at work.

• Ask for four 10 hr days to work to save on gas.

• Stop over-valuing your time. Example: getting a meal through DoorDash to save time, when you could save a ton of money by picking the meal up yourself or making it homemade.

• Always look for cheaper alternatives for everything you do! There is almost always a way to do it cheaper. 🎯

• Skip the small purchases that add up! Say you make $100 a day. You buy a coffee and a doughnut that could cost upwards of $10, later you buy a vending machine snack at work for $3, then you buy a lottery ticket on the way home for $5. You have already spent more than 15% of your income for the day before you get home.🎯

• Simply say No. If you cannot afford an activity or purchase outside your budget, No is your best option.🎯

• Mindset matters. Remind yourself of how many hours you would have to work to purchase the item you are considering. 🎯

• Do not save your credit cards in your phone or on the computer, not only is it safer, but it also reminds you to think again before buying. 🎯

• Never stop your education, take every opportunity to learn and increase your skills. 🎯

• Save on childcare and school costs by homeschooling.

• Take advantage of student discounts if you’re a student.

Shopping

• 24-72 hr Rule: Plan purchases. Wait on a large purchase until you have done your research, found the best price, AND are absolutely certain that you NEED it. 🎯 Extreme - Wait 30 days before you purchase something.

• Keep a "Want List" for your family. Buy things on this list on birthdays and holidays. 🎯

• Extreme - Regift everything you do not want or cannot use.

• Extreme - Stop gifting altogether.🎯

• Draw names to save on gifting. 🎯

• Christmas Gifting: follow the 5 gift rule for kids. Get something they want, something to wear, something to read, and something to experience.

• Buy Deals and Gift Cards ahead of time and save on Living Social and Groupon.

• If you are doing research to decide on the best option to buy an item, don't go on the "Top Ten Best" sites, those are usually Amazon Affiliates that are just listing their picks. 🎯

• Conducting Your Research:  🎯

  1. Before making a purchase, review the available makes and models of the product you want. Seek out reviews or ratings for both the product and the manufacturer. No matter how low the price, a poorly made product is never a good deal. (For electronics and computer reviews, I recommend cnet.com and consumersearch.com. For appliances, services, and vehicles, Consumer Reports is a great resource.)

  2. Understand the full or "list" price. To determine if a sale price is truly a bargain, you need to know the regular price. Examine the fine print in advertisements to identify the original price before the discount. Some ads might use the suggested retail price as the starting point, even if the store sold the item at a lower price. Manufacturers' websites and price comparison sites like Shopzilla.com or bizrate.com are good places to begin your research. If you have preferred stores, consider signing up for their sales alerts—just be cautious about the personal information required for registration.

  3. Be cautious of "strings." Pay attention to the "strings" tied to sales promotions. These strings are designed to entice you. For instance, "buy one, get one free" – do you actually need two items? Or "get 10% off a $50 purchase" – were you intending to spend $50? Or is there a requirement to purchase a particular product to receive the discount?

  
  

• Buy during off-season sales. 🎯

• Look for discounts and clearance items. Check sales flyers. 🎯

• Buy with Rewards Points. 🎯

• Use cash-back apps: Rakuten #AD #Referral RetailMeNot 🎯

• Plan gift-giving well in advance (throughout the year) and have spending limits. I start buying for birthdays and Yule in January at sales. Buy only on sale and out of season. 🎯

• Prioritize quality over price. 🎯

• If you do treat yourself, put the same amount into savings. ⏰

• Shop during the middle of the week.

• Buy off-brand. 🎯

• Be sure to watch during checkout to be sure you are getting the correct prices, or check your receipt. 🚀 I'm awful at this, I'm trying to remember!

• If you know you lack self-control, delete all shopping apps from your phone and unsubscribe from shopping sites in your email.

• Shop Garage/Yard sales, Consignment, Bargain, and Thrift stores. 🎯

• Buy gift cards on sale. Save gift cards for when you need something. 🎯 Just keep track in case they expire.

• Buy school supplies, greeting cards, holiday supplies, and more at the dollar store. 🎯

• If buying on Craigslist or FB marketplace start with the oldest listings first to get the best deals.

• When you have a big expense coming up, put the word out, you may know someone who would love to get theirs out of the basement and get some cash for it.

• Hold on to used gift bags and tissue paper so that you can reuse them. 🎯 I do this, but I also use reusable packaging.

• Barter for what you need.

• Extreme - Save on food and household costs by dumpster diving.

• Extreme - Make your own everything: food, hygiene, and clothes. Just be aware that like gardening, your starting cost will be more in the beginning.

• Find your local Buy Nothing group.

  
  

Food

• Read my blog article about Saving Money on Healthy Groceries 🎯

  
  

Home

• Learn basic home repairs. 🚀

• Spend to save, do home improvements to save on heating and cooling costs. Fix leaky pipes. Install dimmer switches and LED bulbs. ⏰

• If you need something fixed that is above your skill level, shop around for the best price. 🚀

• Do your chores during off-peak hours. 🚀

• Sell or give away your clutter and books that you will not read again. 🚀

• Use old t-shirts, rags, towels to clean with instead of paper towels. 🎯

• Extreme - use washable "toilet paper". Marley's Monsters has Toilet unpaper. #AD #Referral 🚀 I bought a huge pack of washcloths for when we go #1.

• Start a garden (it's not cheap to start, but once it's established it helps save $). 🚀 We've grown a few things so far.

• Start a Community Garden and trade what you grow. ⏰

• Compost for your garden or just to save on throwing it into the garbage. 🎯

• Buy furniture second-hand. ⏰

• Make your own decor and artwork. 🎯

• Buy only oops paint - the paint that is on super sale because no one wants it. ⏰

• Move to a smaller house. We may possibly have to do this soon.

• Shop at salvage stores. ⏰

• Sell all the stuff you do not use. 🚀

• Repurpose and reuse everything that you can . 🎯

• Exchange babysitting services with your friends and family.

• Plan a vacation at home. 🎯

• Do your own lawn care. 🎯

• Return your bottles and cans for the deposit money. 🎯

• Use less dish and laundry detergent than the manufacturer recommends. I use half and it still works fine. 🎯

• Each day, use one cup for drinks for the entire day. 🎯

• Skip single-use items such as plates, cups, bowls, utensils, razors, and more. 🎯

• If you live near a college, go dumpster diving around May, you can find lots of great items that the kids just throw away.

• Make your own cleaning solutions and/or clean with vinegar. 🚀

• Cut sponges in half.

• Cut packaging open to get the last bit out.

• Trade skills with friends and neighbors. 🚀

• Make what you have last longer - Take proper care of it. 🚀

• Share living space, rent a room out. Or become a room mate.

• Rent your belongings out.

Personal Care

• Water down shampoo/conditioner, dish soap, and laundry soap. 🚀 I am planning on making my own laundry soap.

• Lather, rinse, and repeat when washing your hair is unnecessary. Once is fine.🎯

• Use shampoo/conditioner bars, they last longer. 🎯

• Make your own personal care products and cleaners for your home. 🚀

• Learn how to cut hair on YouTube. I started cutting my own hair, it isn't great, but it will do.

• Have students cut your hair.

• Extreme - Guys - Shave your head to avoid haircuts or don't shave your beard. Ladies - get a haircut once a year or less. 🎯 I get my hair cut approximately every two years.

• Air-dry your hair. 🎯

• Use reusable menstrual products.

• Use cloth diapers and toilet train your kids early.

• Reuse your towel after your bath or shower, it does not have to be washed every single time. 🎯

• Stop buying cosmetics. 🚀

• Keep your toenails cut so you do not wear out your socks too fast.

• If you use a disposable razor you can keep using it for longer than you think. Dry the razor thoroughly after using it and periodically clean it with a bit of alcohol.

  
  

Clothing

• Keep a minimal wardrobe. 🚀 I am downsizing. I wear something completely out, and it gets turned into a rag.

• Follow the "one in and one out rule".

• Only buy clothes that fill a gap in your closet. Buy clothing that will match with what you own.

• Repair clothing. ⏰ I am learning how.

• Only buy new clothes when something you own is worn out. Buy secondhand.🎯 At this time, I am not replacing any items.

• If you do buy new, sign up for loyalty/rewards programs or use coupons and promo codes.

• Buy only quality clothing. Ignore trendy clothing. 🎯

• Extreme - Wear your clothes at least 3 times before washing, unless they become sweaty/soiled - except socks and underwear, of course.🎯 I wear clean clothes to work, but on stay-at-home days I follow this.

• Start a Clothes Swap.

• Shop at thrift stores.

• Wash your clothes in cold-water only and be sure that your load is full. 🎯Then line dry your clothing, they last longer.⏰

• Follow care labels. Do your laundry properly. Take good care of your clothing to make it last longer.

• Buy a size larger for kids.

• Make friends with a family that has a child a little older than yours for hand-me-downs.

• Make your own clothes.

• Shop outside your section. For example: I like guys t-shirts more than ladies.

• Skip duplicates. No one needs 4 white shirts. 🎯

• Shop for clothes at the end of the season for clearance sales.

• ThredUp: is an online consignment shop where you can find great deals on gently used or unworn items. You can also sell your clothes by using their "Clean Out Bag." After they process your items, you’ll receive an email with your earnings. For the first 14 days, you can use those earnings as credit to shop on ThredUp. After that, you can cash out through PayPal or a ThredUp Visa Prepaid Card. If you sign up through my link, you’ll get 45% off plus free shipping. #AD #Referral 🎯

• If you need special one-night-only clothing, rent it or borrow froma friend.

• Upcycle or accessorize to change your look.

Health

• Stop smoking and alcohol use. 🎯

• Work on your health to save on doctor bills. 🚀

• Walk or bicycle where you need to go. 🚀 I walk when I can, but we are far from most everything.

• Check into financial assistance programs for medical bills.

• You can exercise at home for free using calisthenics. Exercises like push-ups, sit-ups, pull-ups, and squats require minimal equipment. For a cardio workout, consider running in your neighborhood when the weather is nice, as it's a more enjoyable option than using a treadmill. Additionally, incorporate workouts into daily activities: park farther away to increase your walking distance or practice yoga during your lunch break. 🎯

• You can find free workouts on YouTube. 🎯

• If you have a gym membership but don't visit the gym often, try switching to a per-visit payment plan if it's cheaper. There is no use spending money on a monthly plan when you only go to the gym once or twice a week.

• Review your employer benefits; certain companies might provide an on-site gym for free, while others could cover part or all of your gym membership costs to support your health.

• To save money on prescriptions or daily supplements, consider purchasing generics and opting for larger quantities, such as a 90-day supply rather than a monthly one.

Vehicle

• Read my Blog Article - Saving Money on Gas

  
  

Utilities

• Install low-flow shower heads. 🎯

• Use a bidet to save on toilet paper. ⏰

• Take shorter showers. 🚀 I'm not great at this.

• Take a shower every other day. 🎯

• Extreme - shower with a bucket to save the grey water for cleaning use or flushing toilets later.

• Extreme - If it's yellow let it mellow. I have a small bladder, I go contantly. If I flushed every single time then it would be a huge waste! 🎯 Don't judge, this allows me a couple more minutes in the shower...lol

• Wash your clothes in cold water. 🎯

• Use your appliances on off-peak hours if your power company has a "time of use" policy.

• Keep your freezer full. It takes less energy to keep everything frozen.

• If you use your dryer, use wool dryer balls instead of dryer sheets. 🎯

• Lower the thermostat on hot water heater to 120. If it is any higher than that you are just wasting money.🎯

• Extreme - lower your heating thermostat to as low as you can tolerate while keeping your pipes from freezing. Layer up to avoid turning your furnace up. In summer, keep the AC set higher or do not use it at all. 🎯 Ours is set to a chilly 60 right now...brrrrr

• If you are going on vacation turn your heater/AC down while you are gone.

• Turn the lights off and open the blinds for natural light. 🎯

• Use blackout curtains to insulate windows. ⏰

• Unplug the energy vampires - chargers, tvs, appliances 🎯

• When your appliances wear out and you need to buy new ones, be sure they are energy-saving. Try to get them second-hand before buying new. 🎯

• Keep the minimal amount of dishes needed.

• Use LED bulbs. 🎯

• Change air filters regularly. 🚀

• During the winter months, set ceiling fans to rotate clockwise, and during the summer months, set them to rotate counterclockwise. 🚀

• Use smaller appliances to cook your food instead of heating up your big oven.🚀

• Negotiate with the utilities providers, they will often lower their rates if they think you will be leaving them for another company. 🚀

• Simply use less energy.

• Extreme - Try the Off-Grid lifestyle whether you are off-grid or not. Skip using lights and appliances. Find inventive ways not to use electricity. Collect rainwater. Install a rainwater shower. Just don't freeze your pipes in your house in winter!

Tech

• Cancel auto subscriptions and memberships that you do not need. Go extreme and cancel them ALL. Just watch FreeTV channels.🚀

• Cycle subscription services. Watch all the shows that you are interested in on one service and then move to another. 🎯

• Subscribe as a family instead of multiple subscriptions.

• Be cautious of impulsive buys, such as 99-cent downloads. They may not seem significant individually, but frequent purchases can accumulate over time.

• Extreme - Cancel Wi-fi. Sit outside restaurants or places with free Wifi or borrow a neighbor's (with permission).

• Use subscription-free trial periods, just be sure to cancel on the last day.

• Cut ties with cable. Stream only the channels you watch. OR only stream one channel at a time to save even more. 🎯

• Skip watching tv completely.

• Sell your used tech. Be sure to reset it to the default first.

• Skip upgrading your tech: your TV, tablet, phone - all of it. Only buy when what you have wears out or breaks. 🎯

• Stay informed about new electronics releases to avoid buying soon-to-be obsolete items.

• Upgrade older devices for better efficiency and lower power consumption. When upgrading, steer clear of financing plans that might end up costing you more than you intend to spend.

• Skip extended warranties, take care of your tech.

• Ditch your landline. 🎯

• Save on phone costs by using prepaid.

• Reduce your phone bill by choosing a low-cost data plan since WiFi is widely available, using autopay for discounts, buying or financing a phone instead of leasing, considering a family plan, switching to a cheaper carrier, limiting background data, and avoiding phone insurance after getting a case and screen protector. Resist upgrading to the newest model and consider a cheaper pre-paid plan or carrier.

• When traveling abroad, switch your phone to airplane mode. Failing to do so will result in your phone continuously accessing the internet via the local cellular network, leading to a hefty bill upon your return. If internet access is necessary, enable Wi-Fi and connect to a Wi-Fi hotspot. Furthermore, consider purchasing an international phone/data package before your trip to avoid expensive roaming fees. Short-term plans typically begin at $25-$30 and can save you a significant amount of money.

Fun

• Find free entertainment in your community.

• Buy Deals and Gift Cards ahead of time and save on Living Social and Groupon.

• Consider free activities: journaling, reading, meditating, and volunteering.

• Cancel that gym membership. Exerecise outdoors. Go walking and hiking. 🎯

• Host a game or movie night.

• The National Park Service has several free admission dates each year at national parks and attractions. For dates, visit nps.gov and search "free entrance days."

• If you go to the movies, choose a matinee showing that is cheaper and skip the concession stand.

• Skip professional sporting events and go to semi-pro, college, or high school sporting events.

• Go to college or high school theater.

• Use your library for books and movies.

• Play a free game online.

• Go to the park for playgrounds and playdates or for just walking.

• Go on a picnic.

• Look for low-no cost museum or zoo days.

• Read to your kids.

• Extreme - stop going out at all, just find fun things to do at home. 🎯 For now.

• Get deals on Groupon and Living Social for going out. Be sure to use Rakuten with Groupon to save more.

• Explore the benefits of your membership. Many of us hold memberships in one or more organizations that provide a range of discounts as part of their member benefits. For instance, AAA provides discounts on movie tickets, attraction tickets, sports and recreation, shopping, dining, and more.

• Start a babysitting exchange so you can have a date night

I am collecting new ideas all the time!

If you have an idea for me, please share!

Like this?