8 amazing ways to start living frugally

Starting a frugal lifestyle may be hard but it totally becomes easy once you get the hang of it. Being frugal is important especially for people who are trying to save money and for those who are in situations which some frugality is called for. Listed below are the some of the most effective ways to be frugal. By following the tips, you are assured of being able to save a few dollars every week or a few big ones that can add up to hundreds of dollars.

1. Automatically deposit your savings.

You will be able to effectively save some money by making your savings automatic. You can discuss this option with your bank representative, so that a specific amount of money is taken away and directly deposited into your savings account every payday. Being able to put money aside before you even get your hands on it is a great first step to being frugal.

2. Always track your spending.

A lot of financial advisers recommend tracking your expenses down to the last penny. When you do this regularly, you will be able to see a pattern regarding your finances and determine your weak spots. You will be able to notice your numerous trips to the coffee shop or your frequent purchases of cigarettes. Once you identify these areas, you will be able to adjust and decide to put the extra money to a savings account.

3. Skip regular treats and luxuries.

Try your best in avoiding buying items that are considered extra.

If you regularly treat yourself to coffee shops and if you pamper yourself to a spa treat every weekend, why not decide to create your own coffee and paint your own nails at home? You will be save tons of money and you can decide to put the money in your savings account. You will be save tons of money and decide to put the money in your savings account. You can do a credit score check regularly so you can keep track of your progress. Once you see how much progress you have made, you will find yourself having an easy time living a frugal lifestyle.

4. Avoid using credit and spend cash only.

You can try spending cash only for a month so you can keep track of your spending. This will allow you to determine where it is your money actually goes and will limit the things that you spend your money on. You should start by withdrawing a certain amount of money and limit yourself into spending that certain amount for a week. If that amount of money is comfortable, you can experiment and lower the amount so you can save more.

5. Avoid unnecessary spending.

Challenge yourself by not spending anything on unnecessary items. This will be hard but it is one good step to make the big jump in the frugal bandwagon. Only spend your money on the necessities including rent, electricity, water, groceries and toiletries. Although hard at first, this habit will help you stop spending unnecessarily.

6. Look for other resources.

When there is a need to take a trip to the grocery store, do not immediately dash to one. Try going to the farmer’s market or try shopping for groceries from an online grocer. You will be surprised to see how much discounts you can get and how much you are able to save. If there is an imminent need to go to the grocery store, take advantage of promotional sales and deals only if the items are items that you do use.

7. Avoid eating out.

Try this for a month and you will be surprised at how much money you can save. When you try this frugal tip, make sure that it includes no buying of coffee from coffee shops, no extra purchases at gas stations, no ready-cooked meals from grocery stores and no dining out in restaurants. Once you do this successfully and find out that you totally have the self-control to do so, you will be able live not just within your means, but below your means, allowing you to put more in your savings account.

8. Avoid eating out with friends.

If you cannot avoid eating out with your boyfriend or your spouse because it is an important of your relationship, you can try to at least avoid eating out with friends and co-workers. If you do not want to miss out on catching up and talking with your friends, you can simply host a house dinner, in which attendees are required to bring food and drinks to share with everyone.

Starting a frugal lifestyle may indeed be really difficult. It needs discipline, self-control and practice. You can be assured though that once you get the hang of it, everything will be easier and you will find yourself yearning less and less for the things and activities you were once used to spending money on. By following the tips listed above, you can successfully start your path into having a frugal lifestyle.

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