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Thursday, January 9, 2020

8 Ways to Be More Frugal

Frugality is the way forward if you want to be smarter about money. Being more thrifty doesn’t mean living at a very basic level or depriving yourself of life’s luxuries; it simply means being smarter about your spending habits and taking more time to plan out your purchases, making savings wherever possible. 
Here are 8 surefire ways you can be more frugal with your finances.
  1. Switch to a Smart Meter 
Utilities can be one of the biggest drainers of cash, simply because you cannot see what you’re using. You may be in the habit of leaving plugs and electrical items switched on, or using more than you think you are. 
Switching to a smart meter can help you visually see how much you’re spending on utilities, and help you to be more aware of your lifestyle usage. This means you’re more likely to be extra careful. 
  1. Use Coupons Whenever You Can 
If you can find coupons, why not use them? Anything which can knock a small amount of money off a purchase is still a saving. Save up enough coupons and you may not even need to use any money to split the difference.
  1. Don’t Buy Anything You Can’t Yet Afford
In order to be frugal and more sensible with money, you don’t want to get into debt, and this includes buying items on contract instead of outright. It may be tempting, but avoid it at all costs. 
In order to be more conscious with your spending habit, it’s important to understand the implications of debt — and you can always find help with lawsuits related to debt if you need to.
  1. Look for Bulk Buy Deals 
Always see if you can find multibuy deals when you’re out shopping, especially for those items which you always need and buy regularly, such as toiletries. You will save money in the long run if you buy more at once, such as 3 for the price of 2. Multi-buy deals are usually listed on the same shelf anyway, so it won’t take much extra effort to find a bargain. 
  1. Plan Out Your Grocery List 
Overspending is most easily done at the grocery store, especially if you’re a lover of food and have impulsive habits when it comes to culinary treats. Planning out a grocery list can help you to avoid overspending at the store, meaning you strictly stick to what you need and avoid all the distractions. 
You can still make room for a treat every now and again, just don’t overdo it — and stick to the planned list as much as you can.
  1. Plan Out Your Meals
Planning out your daily meals means you’re less likely to waste food (and therefore money). If you plan your meals, you know exactly which ingredients and items you will need for the week. This is also helpful to plan those meals which you can freeze and store to get the most out of, such as a large pan of pasta or chili which can provide more than one daily portion. 
This will not only help you save money, but help you to eat more healthily, too. 
  1. Check Out the Sales for Great Deals 
If you’re on the lookout for a new purchase and can afford to wait, then it’d be beneficial to wait for the next sale, especially during the main holiday periods such as after Christmas. You will be able to find the same items at reduced prices, so it’ll be worth the wait. 
You may even be able to find hugely reduced deals on monthly contracts such as your cell phone and internet provider, so if you’re looking for a new deal on those, it might be best holding off for the sale prices to find a great deal.
  1. Prepare Your Lunch in Advance
If you have a busy lifestyle, grabbing lunch on the go is so easy to do, but this is where the high price tag comes in. A lot of ‘grab-and-go’ lunch joints are highly overpriced, and if you’re constantly making a stop at these places on a daily basis, you’re going to have a large lunch bill throughout the year. 
To avoid this, be more aware of your lunch preparation. You could use leftovers from an evening meal, or make up a quick sandwich or meal the night before. 

Even if you only do this a few times a week, instead of every day, it’s still a significant saving to be made.


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