Exploring the frugal lifestyle is wonderful. No matter how much you know, you can always build on your existing knowledge to save more and get more out of your money. Work these secrets into your repertoire to see what they can do for you!
1. Keep monthly expenses low even when your income increases
You got a raise—yay! Don’t go out and buy a bigger car, a bigger house, or upgrade your grocery budget. Millionaires are rich because they don’t spend more than they need to. Just because it’s there doesn’t mean it has to be spent.
2. Budget even if you think you don’t need it
You may think that a budget is unnecessary for you because of your income level or because your monthly expenses are low. Wrong! Everyone can benefit from a budget. Grab a notebook and set aside an afternoon to hammer out a realistic, practical budget.
Also read: Top 10 Habits of Frugal People
3. Become a really fabulous cook
Going out to eat is fun, no doubt about it. But spending that same amount of money on a home-cooked meal can allow you to enjoy delicacies you’d never be able to afford at a restaurant. Become skilled in different cooking styles and you can enjoy date nights at home.
4. Buy for quality, not price
The better deal isn’t always the lower-priced item. The better deal is the item that will last longer. Even if you spend more upfront on a major purchase, figure out if it will save you money in the long run.
5. Make your money work for you
Your money isn’t doing you much good if it’s going to extravagant expenses or wasting away in a no-interest savings account. Invest, put your money into a retirement fund, or look into real estate/business opportunities to make your money work for your financial future.
Also Read How I Save 50-70% on Lean Ground Beef
6. Eat at home, get dessert out
You don’t want to deprive yourself of the joy of going out to eat. To save your budget, eat dinner at home and then get dessert at an ice cream parlor or restaurant. You get the experience without the huge bill.
What are your best frugal secrets? Don’t keep them to yourself and share them below.
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Chris Martin says