Do you want the best frugal living tips for 2023? In this blog post, I have frugal living tips to save you money in 2023.
I love talking about the best frugal living tips to help you cut back on daily costs and save money.
The idea of living a fuller life, below your means can be exciting. However, not everyone is in love with the idea of living a frugal lifestyle.
If keeping up appearances is important to you, there are plenty of ways to do it without resorting to falling into debt.
Before jumping into this long frugal living list if you don’t start your frugal living you can begin with these simple frugal living ideas.
Simple frugal tips for 2023 to help you save more money this year.
So, before we go into the best frugal tips that let me tell you, the definition of frugal living first.
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What Does Frugal Living Mean?
Frugal living means being conscious of your spending and focusing on a few financial priorities.
Frugal living is about finding ways to save where you can make it through different ways such as freebies, DIYs, coupons, seasonal things, etc.
Frugal living is assigning a purpose to every single cent. If done correctly, frugal living can help you prioritize your spending habits, cut back on unnecessary living costs, and move you closer to your financial goals.
Spend Smarter Not Harder!
So What Does It Mean To Be Frugal?
It means prioritizing what’s more important to you and cutting back on those that aren’t.
Frugal living is all about flexibility. The best part about frugal living is anyone can do it! Living frugally is about being smart with your money.
frugal living is about avoiding wasteful and extravagant spending so you can give your hard-earned money its true worth and value.
As long as your gadgets are still working perfectly fine, you don’t need to buy a new one just for the sake of keeping up with the latest trends.
Similar to technology, I do not also chase after the latest beauty or fashion trends as long as I still have something that I can use.
Benefits of Frugal Living
Photo by Towfiqu barbhuiya on Unsplash
There are so many benefits when it comes to frugal living, some of them include:
- Higher Risk Tolerance
- More Freedom To Pursue Your Passions
- Early retirement
- Less Financial Stress
- Increased net worth
- Decreased financial stress
- More Financial Creativity
- Travel more often
- Give more money to your favourite charities
- Increased quality time with friends and family
Here are ways to save more money in 2023.
Simple Frugal Living Tips for 2023
1. Stop Buying Things You Don’t Need
Don’t buy things simply because you want to impress other people. They would not take care of you when you are short of money or in debt.
Also, just because you can afford something, it doesn’t mean you should buy it.
Here are some questions to think about before making a purchase.
- Do I need it?
- What is the main reason for buying it?
- Do I have something similar to the item I want to buy?
- How often will I use it if after purchasing it?
- Can I rent it instead?
2. Create a Meal Plan
Create a meal plan and prepare their food at home using low-cost but healthy ingredients they have bought at the best low price.
The most popular area where people are most likely to overspend is groceries and eating out. You will set yourself up to save hundreds of dollars a month versus picking up takeout several times a week because you forgot to plan.
3. Don’t Skip Breakfast
An effective way to curb your desire for a big, expensive lunch is by eating a healthy and filling breakfast.
A bowl of cereal or oatmeal, coffee, and bagel, or scrambled eggs is easy to make and cheap, but it can fill you up with energy so you’ll not turn to restaurants or fast food later in the day.
4. Write a Shopping List
Draw up a weekly meal plan using up ingredients you already have and make a shopping list of any missing items.
Stick to your list at the store. We all know what happens when you go to a store unprepared. You end up buying more than you need to, create a shopping list, and stick to it.
Try not to shop when hungry. People who shop when hungry are more likely to spend more, especially on less healthy foods, such as high-fat and sugary snacks.
5. Use Up Leftovers
If you are planning for using leftovers for another dinner, take off what is needed for the next meal before serving. Dedicate one day a week to using up any leftovers from meals.
Get into the habit of marking, dating, and freezing leftovers for later use, too. A simple weekly or monthly meal plan will help you stick to buying what you need and using what you already have.
For example, if you are using part of a roast chicken for a soup recipe, take off what you need before serving the remainder of the chicken meat for tonight’s dinner.
6. Cook Cheap Meals
Meat and fish are typically the most expensive food ingredients on a shopping list.
Cook fewer meats and more vegetables instead to save money.
How about adding vegetables to meat dishes to make your meals go further? Or try a few vegetarian meals during the week to keep costs down.
It’s one of the best frugal living ideas that also will help your body.
7. Eat From The Pantry
Eating from the pantry is one of my favorite frugal living tips. It not only makes me save money but also controls wastage.
You can go for a pantry challenge where you try to come up with as many creative meals as possible using only foods you have on hand.
8. Do Not Buy in Bulk If You Don’t Need It
We tend to buy in bulk simply because its cost per unit is cheaper but now I came to realise that is not always the smartest move.
As its cost per unit was cheaper, I tend to buy things in bulk that I don’t need. Now I know exactly when to buy it!
Always, always compare prices by a unit to make sure you are truly saving money. So buy in bulk when it makes sense.
9. Buy Generic Brands
When you start buying generic brands you will start to realise that it is cheaper and the content is just the same.
A lot of the generic and branded items out there were made from the same factory.
They just swap the packaging and make it more expensive for the branded items whereas you get the same thing with the generic brands.
10. Double-Check Receipts When Shopping
Miscalculation happens when purchasing goods or services.
Always double-check the receipts before leaving to make sure you are not being overcharged.
You certainly don’t want to pay for something you haven’t bought.
11. Wash Full Loads of Laundry
Get the most bang for your laundry buck by only washing full loads. If you find you need to do an occasional small load, make sure to adjust the wash/water level to compensate.
12. Hang Clothes On a Clothesline to Dry
Speaking of extending the life of your clothes, dryers are extremely brutal on fabric.
So, you will save money on clothes if you hang them to dry instead of using the clothes dryer.
13. Use Homemade Cleaners
Stock your cleaning caddy with these household ingredients.
Many of these natural cleaning ingredients can be used on their own or in any number of DIY natural cleaning products.
we don’t need a separate cleanser for the bathtub, sink, and toilet. They are all made out of the same materials, so a good multi-purpose cleaner should do the trick.
14. Keep Lights and Fans Off
I turn off the lights and AC when I leave. It’s a personal habit of mine to turn off all the electronics, lights, and AC before I leave the house. Not only it saves you money but it’s also safer.
15. Use a Towel Instead of a Paper Towel
Use cloth napkins instead of paper products. Paper products are expensive. Instead of going through rolls of paper towels and such, switch to cloth. You’ll be glad you did.
This is just a more specific way of saying that using a reusable item over a disposable one can save you a lot of money in the long run. Plus, you get to live an eco-friendly life!
16. Cut your Hair Yourself
I cut my hair. This has saved me so much money for so many years.
I cut my kid’s hair too! It was one of the pandemic lessons that I mastered at home.
The first time, I was horrible but you know we can make it perfect. There are lots of videos up there on youtube.
17. Sell Your Stuff
You may have items they no longer use that take up valuable space in their homes. Decluttering is a great way to solve this problem.
When you declutter your house, you can sell your stuff and use the money to reach your financial goals.
The more stuff you have, the more money you spend maintaining it.
18. Unsubscribe
Avoid temptation by unsubscribing from marketing emails of the stores you spend the most money at.
Think about how many times you have clicked onto a shopping site simply because it appeared in your inbox you did not even plan to shop at all.
But because this discount message popped up in your inbox, you clicked into it and purchased something that you never planned to purchase.
By law, each email is required to have an unsubscribe link, usually at the bottom of the email.
Conclusion
Frugal living doesn’t mean being stingy to yourself and others around you or sacrificing your current lifestyle. It is about careful spending, finance management, and simple living.
These are the best Frugal living tips to save you money in 2023.
Frugality is a choice, a mindset, and a lifestyle rather than a negative experience.
Do you live a frugal lifestyle? If so, what are your favorite benefits?
Be sure to comment below. I love hearing from you! Also, if you liked this post, be sure to subscribe so that you can get all future posts, recommendations, and tips personal finance tips sent directly to your inbox.
I will see you soon in another blog post!
With
❤️
Nasreen
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Productive work from home with kids
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