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Frugal Living: Tips That Can Save You Thousands of Money

Dec 25 2019 By Asbin Ghimire
Frugal Living
Frugal Living

Frugal Living is not about living as cheap as you can. Instead, it’s about making attentive choices that save your money.

Additionally, a secret to maintaining financial control and payment of debt is learning to live frugally.

The word “frugality” is often synonymous with pinching pennies and taking away things that make you happy; however, the concept is exactly the opposite.

To live frugally, you only need to take into account a simple mantra of personal finance: spending less than your earnings.

To do this, you should streamline your expenditure and cut expenses in several areas of your life.

Here are a few ideas, so you can live frugally and save your money. Make sure; you read this article until the end.

 

Using Only A Single Car Is Frugal Living

The average person spends more than $9,000 a year to drive his car.

Mostly, there are two cars in many families. Further, the insurance costs, gasoline, parking, repairs, and daily maintenance would rapidly increase for the families even if they paid for one car.

To prevent unwanted expenses, try using public transport to work if possible.

It’s 80% cheaper than owning a vehicle and using it. You could also consider walking or biking if you live close enough to work.

 

You Can Consider downsizing your home To Live Frugally

It doesn’t matter if you can afford a bigger house or apartment in the center of the city.

The best way to practice Frugal Living is to consider living in a smaller home or an apartment just outside the downtown core.

As a result, you can save thousands of dollars per year.

 

Minimizing Electricity Payments

Adjusting the thermostat can be a good idea. Bump the thermostat in the winter to 20° C and in the summer to 26° C.

At first, you might feel bit uneasy, but if you throw a cozy sweater and a few slippers or warm socks in the winter or have a glass of ice water in the summer, the body is going to settle down.

Furthermore, you can save more money by reducing the temperature of the thermostat if you’re not at home or sleep.

During the winter, changing your thermostat temperature between 6° C to 8° C for 8 hours can save you 5% to 15% in your heating bill.

 

Reducing Day-To-Day Expenses Is Another Way To Live Frugally

Instead of spending money on books and DVDs, you can borrow them for free from your local library.

A wide selection of recent books, music, and films are available in many libraries.

And if you don’t like it, you won’t have to bite yourself for spending money on something you will probably never read or watch again.

With the internet, we can easily access news, information, and entertainment for free.

Consider canceling magazine and newspaper subscriptions to live frugally.

Additionally, reducing smoking, reducing the consumption of alcohol, and junk foods are perfect ways of saving money.

 

For Frugal Living, Get Rid Of Your Gym Membership

Although I am a huge supporter of healthy living, the membership of the gym is EXPENSIVE.

To avoid this, plunge the fitness center and choose a home training system.

There are many workout tutorials on YouTube that are as effective as hitting the gym.

Further, you can also consider going for a morning walk or jogging that is no less than working out in the gym.

 

Spend Less While Going Out For Entertainment

Consider eating before you go to cinemas. Popcorn, candy, and nachos are pricey, so you are more likely to avoid needless expenditures if you’re filling in before attending the show.

However, you can prevent movies by planning a ‘Game Nights’ at home, which is more fun instead of spending a $20 bill for the film.

If you have a plan for a vacation, it better to choose off-season to save money.

Every holiday destination has its own peak travel time.

So make sure you research properly to avoid the peak time and instead choose off-season for holidaying. With this, you can ideally experience Frugal Living.

 

Going Meatless Can Be Another Way To Live Frugally

The price of meat has constantly risen annually, so try to include more meatless foods in your diet.

You must not be a full-fledged vegetarian, but consider making meat more a side dish than a primary one.

Additionally, there are many tasty meatless foods that you can enjoy with less budget.

There are many meat replacement foods that you can try including Eggplant, Mushroom, Tofu, and many more.

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