Frugal Living YouTuber Kate Kaden: 5 Realistic Ways To Cut the Cost of Living Alone
Written by
Katie Wudel
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In the current economic climate, where living costs are continually rising, it’s more important than ever to find ways to live more frugally, especially for those living alone. Financial YouTuber Kate Kaden offers five realistic strategies to cut costs without sacrificing your quality of life.
1. Make Your Money Work for You
During an episode of her show, Kaden suggests putting money in high-yield savings or checking accounts, which typically offer better interest rates. This simple action allows your money to earn more over time. Although specific recommendations vary based on location, Kaden partners with Town and Country Federal Credit Union in Southern Maine, which offers a 5.25% annual percentage yield and refunds on ATM fees nationwide. The key takeaway is to not let your money sit idle; even regular savings can accumulate significant earnings over time.
2. Spend Less on Clothing
Kaden emphasizes the benefits of owning less clothing, such as reduced spending and visual clutter. In college, she realized that her fast-fashion purchases, though trendy, were not long-lasting or particularly wise investments. By opting for a more minimalist wardrobe, such as a capsule wardrobe with solid colors and versatile pieces, you can experience less stress, make quicker decisions, and ultimately have more time for meaningful activities. Kaden’s experience underscores the importance of quality over quantity in clothing choices.
3. Book Fewer Hair Appointments
Haircare can be a significant expense. Kaden suggests stretching out the frequency of professional hair appointments or even taking a DIY approach during tight budget periods. By increasing the time between salon visits, you can maintain your style while saving money. However, she also advocates for open communication with your stylist about any necessary changes to your routine due to budget constraints.
4. Stay Healthy
Health is wealth, as Kaden learned through her own experience with medical bills. She advises regular checkups and a focus on maintaining physical and mental health. Simple acts like drinking more water, going for walks, and staying active can significantly reduce potential medical expenses. Staying healthy is not just about avoiding illness but also about nurturing a strong and resilient body.
5. Intentionally Own Less
Finally, Kaden recommends owning less to save money and reduce stress. A less cluttered home is easier to clean and maintain, leading to a more peaceful and productive environment. This minimalist approach also means less time spent managing possessions and more time enjoying life.
The Takeaway
Kaden’s tips, derived from personal experiences and lessons learned, offer a realistic and practical approach to frugal living. Whether it’s making smart financial decisions, rethinking consumption habits, prioritizing health, or embracing minimalism, these strategies can help anyone looking to reduce their living expenses while living alone.
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.
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