***Disclosure: I received compensation for sharing this promotional information with you today. All opinions are 100% mine. ***
There are many individuals and families today taking up and accepting a more frugal way of life. From passing down clothing to coupon clipping and even selling expensive items, it seems this affordable way of life has been working for many.
The basic idea around frugal living is to greatly spend less than you make, the difference that is left over can be used to save, pay off debt or event to invest; and for some super savvy savers they are able to use their remaining income for all three. For others it’s the mere idea to have more free time, whether they would like to work less and to spend more time with family and loved ones or even to travel more. Some have taken the alternate route, spend less AND work more; with this routine they are able to have a substantial early retirement. Whatever reason you may have to want to start to live a little more frugally, there are alternatives available to help get to where you want to be.
Here are a couple tips to help save a little more (call it frugal living or call it smart saving):
- Say goodbye to credit cards, loans, or anything that involves interest rates.
- Stay at home a little more; although not everyone enjoys spending time at home, if you reduce the amount of time you spend going out for drinks or dinner you’ll be surprised by how much you can save.
- Sell your unwanted or clutter items. This is a very popular and lucrative way to earn an extra income and to also de-clutter your life. Have a yard sale, sell items online, or even sell items such as gold or jewelry; sell your unwanted jewelry for cash? Yes please!
- If you are married or living with your significant other and you both drive your own car, consider selling one and sharing one vehicle. This will give you a good amount of extra money as well as possibly reducing or eliminating another monthly payment.
- Bring your own lunch to work every day; this is a great way to cut back on your monthly spending.
- Buy used items. If you are looking for a bike for instance, try asking around to see if anyone is selling an older bike or even look online. This will save you a significant amount of money as opposed to buying a new one from the store.
How extreme or minimal you decide to follow frugal living, the choice is yours and any savings (big or small) helps a great deal in this day in age.