the parties are over,
you’ve gained 5 pounds,
and your checking account is begging for mercy!
It’s a new year, and it’s time to look for new ways to cut spending.
Tips for Frugal Living – 10 Frugal Living Habits to Start This Year
- Don’t Be Trendy – Trendy equals trouble when it comes to saving money. Don’t dwell too much on fashion magazines because you’ll constantly be spending money on the must-have of the season. Those boots might be in today and out tomorrow, so stick to the classics and add just a few inexpensive trendy accessories.
- Learn to Love Leftovers – According to Good Housekeeping, the typical American family throws away about $600 a year in spoiled food! Didn’t your mother ever tell you there’s starving children in this world? Avoid wasting food by enjoying leftovers, keeping your refrigerator organized and planning meals. If you seem to always have leftovers, take a night off of cooking each week and serve a leftover buffet!
- Avoid Brand Loyalty – Brand loyalty is a budget buster! Don’t automatically reach for the name brand…always compare prices and give store brands a chance. Looking for an easy way to cut spending? You’ll reduce your grocery bill by 25% by switching to store brands…no coupons required.
- Establish a Budget – If you don’t have a written budget, shame on you. Take the time to write down your monthly income and expenses, and then give yourself a weekly “allowance” for food and fun. Need help getting started? Try The Budget Diet’s Budget Worksheet.
- Track Expenses – Having a written budget is a great first step, but now you have to stick to it! Try getting your “allowance” out in cash at the beginning of the week, and when it’s gone…it’s gone. Try free websites like Mint.com to track expenses.
- Be Patient – If you’ve got to have something now, you’ll likely pay too much! Patience pays. Give yourself time to find a bargain, a coupon or a thrift store treasure…ahh, the thrill of the hunt! Enjoy it!
- Stop Paying Full Price – If there’s a will, there’s a way to cut spending. Buy discounted gift cards for up to 30% off at Cardpool.com! Use Groupon for frugal fun – A deal a day on great things to do, eat, see, & buy in your area. Shop Groupon.com today!. Start your online shopping trips at Ebates.com, and discover coupon codes plus earn cash back on every purchase!
- Don’t Keep Up With The Joneses – Did you buy a new Coach purse because your friend just bought one? Did you put in a pool because your neighbor just did? If you can’t afford it, don’t do it! Keeping up with the Joneses will put you in debt…if you need money saving motivation, watch the movie “Keeping Up With The Joneses”.
- Buy Used – It doesn’t always make sense to buy new. Do you know there are 10 things you should always buy used….cars, children’s clothes, sports gear, fitness equipment, tools, musical instruments, video games, toys, knick-knacks and furniture.
- Cut Grocery Spending – The average American family spends $10,000 a year on groceries! Imagine if you cut cut that figure in half! Check out 10 Ways to Cut Your Grocery Bill in Half.
Do you have a frugal living tip to share?
Image courtesy of Smarnad / FreeDigitalPhotos.net
In full disclosure, this post contains affiliate links to help support The Budget Diet girl! My advice will always be unbiased and free, but free won’t pay the bills! Thanks!