Frugality is not just a conscious lifestyle, it is a mindset. With a sluggish economy and skyrocketing costs of food, living and basic amenities, everyone is looking for ways to cut costs and save money. 

It is thus necessary, more than ever, to become frugal in the ways we live and consume things in order to prepare ourselves for the rocky road and tough times ahead. Here are some of the money saving tips recommended by financial planners and actual people living a frugal lifestyle: 

Get Rid of Loans ASAP

Most of us have loans that look pretty harmless to us. We pay a minimum amount each month just to stay afloat. We have college loans to pay off, credit card debts initially. Then, we also seek financing for our cars and take a mortgage for our first home. But all these smaller loans turn into huge debts in no time because of the compound interest factor. Therefore, you need to start paying off of all your loans and debts so that you can start saving. This means:

·        Instead of paying the minimum amount, pay the maximum amount of the loan each month.

·        Getting rid of the loan having the highest interest rate first. 

Go for Cash

While you may love the convenience and freedom credit cards and debit cards offer, they contribute majorly to impulsive buying, huge credit card interest and debts. Choosing to pay with cash makes you conscious about how much money you are actually spending on something. This means that if you are unable to afford something, you won’t be able to buy it.

Simplify Your Lifestyle

Living extravagantly and above our means are what contribute majorly to our financial distress. The lesser you want, the lesser you would spend and consequently save. Some ways to start simplifying your life is to declutter your wardrobe, furniture and crockery, so you have lesser stuff to take care of and organize. Get rid of magazine subscriptions, so you have less exposure and temptation to follow the consumerist culture and its latest trends. Reduce your shopping trips and shop at thrift stores if you have to. Reduce dine outs and takeaways. Spend the same amount you would spend on eating out on getting basic kitchen staples and groceries. You can start cooking simpler, cheaper and healthier meals at home enough to feed an army. 

Downsize Your Living Space

If you want to save some serious money, move to a smaller house or an apartment, if you already aren’t doing it. You are going to save on rent. This way you would own way less furniture and would have lesser stuff to clean and maintain. On the other hand, if you are a homeowner and have spare space, rent a room out or get a roommate. Either ways, you are going to make some money by utilizing the extra space in your home. 

Save Energy

Electricity and gas bills are increasing day by day. You need to start conserving energy to stay within your budget. This means making certain compromises, such as switching off extra lights, moving your AC’s thermostat from 18 to 27 degrees, or replacing it with an additional fan. You should also insulate your window glasses and use heavier drapes to keep your house cool in summers and warm in winters. Furthermore, try to wash your dishes by hand instead of running the dishwasher every day. Likewise, try to run your washing machine lesser times during the week and wash less dirty items by hand. Also, instead of running the dryer, try to hang your laundry outside to get it dry the old fashioned way.

Invest in Home Gadgets

Instead of buying frivolous items, invest in home improvement gadgets that help you save time, money, energy and space in the long run. Some of these immensely useful gadgets are:

• Clothes line
• Drying rack
• Space heater
• Water cooler
• Insulated curtains
• Timers
•  LED bulbs
• Smart plugs for energy outlets
• Pressure cooker
•  Slow cooker pressure canner
• Food vacuuming sealer
• Reusable food containers
• Dehydrator
• Air fryer
• Instant pot
•  Bread maker
• Food processor
• Carpet and upholstery cleaner with furniture attachments
• Vitamix
• Nest thermostat

Don’t get carried away to buy everything on this list! Buy the things you are likely to use and are comfortable using.

Reduce Wastage

We tend to waste a lot of our resources in the name of convenience. For instance, switching to cloth napkins instead of paper ones can help you save money and reduce wastage. You can ever recycle your old clothes for this purpose and DIY dog bedding, mats and rugs. Stop wasting toilet paper by installing a bidet seat. Likewise, use coffee jars to store your groceries and knick knacks. Likewise, use old jars to create arts and crafts projects and try to sell them at local flea markets.

Don’t Go for Brand Always

We like using certain brands because of our familiarity, trust and comfort. But all of this comes at a higher price tag. There are several items lesser known or non branded items or supermarket brands which could be equally good. Chances are that you wouldn’t even notice the difference if the labels are switched. You should give non branded items a try sometimes to find cheaper and affordable alternatives, with reasonably good quality. For instance, if you can’t afford a Yankee candle, pick a Glade candle from your supermarket.

Start Training Kids Early

If you are a parent, diapers, powdered milk and baby food offer a huge convenience. But they can be pretty expensive if you have more than one kid. Give cloth diapers a try and start potty training your kid early. Wean them off at the age recommended by pediatricians to reduce their dependence on the bottle. Go for homemade purees instead of baby food. Likewise, instead of giving your toddler store bought nuggets and fries and other junk food, give them homemade, fresh and nutritious food. Carry snacks in the car and on the go for the kids and yourself to curb hunger. It only makes sense to start training your kids early in frugal and healthy ways of living.

Enjoy Life Frugally

Adopting a frugal life doesn’t mean foregoing life’s pleasures. It only means becoming mindful of the ways you spend your money and time and being more creative. Focus on the experience and not the thing to get pleasure. For instance, instead of buying expensive movie tickets, you can rent a DVD or stream one, bake some popcorn and have a movie night at home, at a fraction of the cost. Invite your friends over a good old fashioned one dish potluck. Likewise, you can create a spa at home experience by drawing a bubble bath, lighting a spa scented candle in your very bathroom. Invest in a good body lotion and pamper your own skin.

About the Author:

I am Tia Adaline, an ambient soul, determined to live my best life in the simplest of ways. I am a home buddy and like improving its ambience through DIY projects and scented candles. I blog at Top Scented Candles.