Living frugally does not necessarily mean that you’re stingy, but rather is about being resourceful and knowing where your money goes. Living frugally means looking for means of saving so that you can focus your attention and hard-earned money on things that you really value. People live frugally due to reasons such as:
*To reduce the stress associated with money matters.
*To achieve financial objectives faster.
*To make the most of what they have.
*To give more value and appreciation to what’s important to them.
The main question is, “Can you live frugally without looking cheap? Yes, it is possible to live frugally without being a tightwad or cheapskate. You only have to get more intentional with how you use your finances. In this article, you will find some of the tips with which people can be a little more frugal and make extra savings. You can also check online for store weekly ads to get weekly circulars that can help save a lot of money.
1. Travel Frugally
Transport and commuting bills tend to be expensive, and you need to find a way of reducing them to live frugally. You can achieve so by:
*Walking or cycling where applicable. This will save you money, and most importantly, keep you fit.
*Drive economically. Keep your tires well-inflated, do not brake unnecessarily, and do not fill up for fuel at the last minute.
*Do not pay for toll roads often. This is because using toll roads could mostly save you very little time. Instead, use Google maps to weigh the amount of time spent on the journey with and without the toll road.
2. Manage Your Finances
Frugal living means having control of finances and ensuring that your income, spending and mindset are aligned. You can achieve this by:
*Budgeting. If you want to have full control of your finances, you have to make a budget for almost everything. Budgeting will help you identify where you need to make adjustments so as to save money.
*Clear debts. To reach financial freedom, you need to make it a priority to pay off your debts first. Therefore, if you have a debt, you have to pay them as soon as you can. The earlier they are paid, the lesser the interests.
*Live within your means. Frugal living means living within your means. Use a budget to work out what you can spend. And if there is no room in the budget after rearranging, then do not spend what you do not have.
3. Use Unbranded Commodities
When you go shopping, make it a routine to compare the prices of branded products with their unbranded alternatives. Branded commodities come at an extra cost because of the name. Of course, not all unbranded products will provide the same experience as branded products. However, by comparing them, you will realize a couple of products you can be happy to downgrade on: thus, saving a huge chunk of money in the process.
Living frugally means that you still get to enjoy the things that you want, only that you have to become a little more creative about it. The tips mentioned above will help you live frugally without looking cheap.