9 Clever Ways To Be Frugal You May Not Have Heard Of

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In today’s world, where the cost of living seems to be climbing at an ever-increasing rate, finding ways to save money has never been more crucial.
Frugality is not just about cutting coupons or scrimping to the point of misery. It’s about smart financial habits that can lead to a more comfortable and possibly even a more environmentally friendly lifestyle.
Here are some clever, perhaps lesser-known ways to be frugal that could make a significant difference to your budget and overall well-being.
Embrace the ‘One Less’ Principle
One of the simplest yet most effective strategies for saving money is the ‘one less’ principle. For every recurring expense or purchase, try getting one less of whatever you normally would.
This could mean ordering one less coffee per week, getting one less haircut a year, or even reducing your streaming subscriptions by one. The savings from this method can add up surprisingly quickly, and you might not even feel the pinch.
Go for Quality Over Quantity
It might seem counterintuitive when talking about frugality, but sometimes spending more upfront can save you money in the long run. Investing in high-quality items that last longer means you’ll buy less often.
This is especially true for clothing, appliances, and furniture. Do your research, read reviews, and don’t shy away from spending a bit more on something that won’t need replacing or repairing anytime soon.
Use Technology to Your Advantage
There’s an app for everything these days, including saving money. Budgeting apps can help you keep track of your spending and savings goals. Cashback apps and websites offer you money back for purchases you were going to make anyway.
Even your bank’s app might have features to help you save or invest your spare change. Embrace these technological helpers to make your money management easier and more efficient.
Master the Art of Meal Prepping
Food waste is a significant issue in many households, leading to wasted money and resources. By planning your meals ahead of time and prepping them in bulk, you can save both time and money.
This doesn’t mean you have to eat the same thing every day. Get creative with how you use ingredients across multiple meals to keep things interesting and minimize waste.
Embrace the Sharing Economy
The sharing economy isn’t just about ride-sharing or vacation rentals. It extends to tools, clothes, and even skills. Instead of buying something you’ll use once or twice, see if you can borrow it from a friend or neighbor.
Websites and community boards often have listings for shared resources. Not only does this save money, but it also fosters a sense of community and mutual aid.
Automate Your Savings
One of the biggest hurdles to saving is not making it a priority. By automating your savings, you ensure that a portion of your income is set aside before you have the chance to spend it.
Set up a direct deposit from your paycheck into a savings account or a retirement plan. This “set it and forget it” approach makes saving effortless and guarantees that your savings grow over time.
Invest in Learning and Self-Development
Investing in your education and skills might not seem like a frugal tip at first glance, but it’s one of the most impactful long-term strategies. By improving your skills or learning new ones, you’re making yourself more marketable and potentially opening up higher-paying job opportunities.
There are plenty of free or low-cost resources online to learn anything from coding to cooking.
Practice Preventative Maintenance
Whether it’s your car, your home, or your health, regular maintenance can prevent costly repairs down the line. Regular check-ups, timely oil changes, and keeping your living space in good repair can save you a fortune.
The same goes for your health — eating well, exercising, and getting regular check-ups can help avoid expensive medical bills in the future.
Get Creative with Gifts
Gift-giving can be a significant expense, especially during the holiday season. However, gifts don’t have to be bought. Handmade gifts or the gift of experiences (like offering your skills or time) can be much more meaningful and cost-effective.
Write a heartfelt letter, offer to teach something you’re skilled at, or create something unique. It’s the thought and effort that count, not the price tag.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.