Living frugally doesn’t mean missing out on your favorite things, but it can be a great way to cut your bills and build your savings. With some savvy, frugal living ideas, you can live an inexpensive lifestyle and enjoy yourself at the same time.
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- Buy in bulk
Grocery bills can quickly mount up, and they may even equate to a significant portion of your weekly or monthly budget. However, buying in bulk can reduce the cost of your purchases, and it can make it easier to budget too. Items without a fast shelf-life are ideal for bulk purchases, so get your toiletries, canned goods, and household items when they’re on offer. With a large freezer, you can even bulk-buy food and reduce your regular grocery bill at the same time.
- Organize your finances
If you’re disorganized with money, you could be spending when you don’t need to. Millions of people pay late fees on a regular basis, even when they have the funds to pay on time. If you’re getting in a mess with your bills, organize your finances so that you always know when bills will be going out. Opening a second bank account and keeping it just for bills can be a useful way to do this, and you can also use budget planning apps to help you keep track of what needs to be paid.
- Check out rent reports
Rent reports are a great way to see whether you’re paying too much for your house or apartment if you don’t own your own home, and you can also take a look at average rent prices in nearby areas. Whilst these reports certainly come in handy if you’re planning to move, rent reports like this can help renters find out the best price in their area, so you could switch to more affordable accommodation sooner than you were planning.
- Cut unnecessary bills
Take a look at your monthly bills and you’ll be surprised at what you’re actually paying for. Old subscriptions and unused services can take up a major chunk of your budget, so make sure you cancel anything you’re no longer using. Whether it’s a gym membership or a long-forgotten website contribution, cancel the ones you no longer want or use, and you’ll make savings right away.
If you are subscribed to several networks, like Netflix and similar subscriptions, consider getting one cable subscription package that includes news channels, educational channels, movie channels and more all in one. It could add up to less than all of your subscriptions. You can find one by doing a search on cable providers in my area.
- Go green
Switching to a greener lifestyle is an ideal way to help the environment, and it can make a big difference to your finances too. Adding insulation to your home can cut your fuel bills almost immediately, and you’ll reduce your carbon footprint at the same time. Alternatively, dry clothes outside on a line instead of using the dryer, rely on natural cleaning products instead of store-bought, chemical laden cleaners and wash dishes by hand when you can.
Although major lifestyle changes can be a great way to save money, making relatively small modifications on a daily basis can be just as effective. In fact, it’s the day-to-day changes which make a significant impact in the long-term, so with some minor amendments to your lifestyle, you’ll find it easy to embrace frugal living.
This is a contributed post.
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