You plan to save some money, but you don’t know where to start?
Let’s see what our frugal friends have to say! They mastered the behaviors that help them maintain a huge amount of money in their accounts and a quality lifestyle while avoiding unnecessary spending.
This article is not about what they do, but rather what they avoid doing to make a difference. If you’re ready to increase your savings account and spend thoughtfully, adopt these practices frugal people steer clear of. These are 7 common things they never do.
1. They never pay the full price.
Do you know how to master the art of sales and discounts?
You can start planning your meals before going to do groceries and cook the things you like the most with the items that are on discount. If you’re low on gas, make sure you go and pay at a gas station that offers something in return, such as reward points for a grocery store, or be aware of any other discount program. If you want to think like a frugal person, you need to know the prices and where to find items at the lowest prices.
When it comes to bigger purchases, a frugal person would wait because everything will go on sale at some point.
The best thing to do is to plan all your purchases instead of dealing with impulsive purchases, and this is a simple way to save cash and avoid paying full price. You can maximize your savings by not buying unnecessary items and taking advantage of the best deals on the items you need.
2. They don’t subscribe chaotically
Netflix and Hulu used to be great deals back in the day, even compared to traditional cable or satellite television. We saw how much the fees raised over time with the more services that entered the market, and we ended up signing up for more than one. It’s too easy to forget you pay for some services you actually rarely use and you don’t realize you’re being charged for them until seeing your bank statement.
What about the free trials? Well, it’s more obvious than you may think. Just add a reminder on your phone to not forget to cancel before being charged.
When there are so many options to choose from, like Netflix, Disney+, Prime Video, or Panaramount, you better opt for only one of them or go for the free options. Check what services they offer and see what works best for you. Cancel the rest, and you can even take a trip to your local library to see what free resources you can get.
3. What about the memberships?
In order to get the best out of a membership, you should only stick with one.
Most of the time, it’s difficult to value all the memberships you’re excited to sign up for. Frugal people don’t get memberships for two of the same type of store. They evaluate the options and make a decision to commit as a member to a place that adds value.
4. Not eating outside all the time
We’re aware of the temptation that comes with eating out and grabbing food from your favorite place. Yes, it’s effortless. It’s easy not to cook, wait, and clean. However, compare the costs of eating your cooked food and doing the groceries with the costs of eating out, and add the tips on the counting too.
Frugal people choose to eat outside once in a while, and they see it as an occasional treat, not as a daily or weekly habit. Eating breakfast at home, bringing your own lunch at work, and planning dinners is how you’re going to keep good money in your pocket.
5. Do frugal people use credit cards?
Using a credit card carefully can be a great way to save a little extra cash. Frugal people will keep in mind to pay those cards off each month. This is the best way to avoid hefty interest charges and unwanted fees.
The most important thing is to not use a credit card unless you don’t know you already have the money to pay for it. Also, carefully monitor your spending to make sure you don’t wind up with surprises at the end of the month.
5. Brand new items
You should know when it’s worth taking an item that is brand new and when it’s a better idea to purchase it from Facebook Marketplace, for example.
Buying secondhand is a great way to save tons of money while taking care of the environment. Used items come with great discounts, and most of the time they are great to use. Do you think about going to ski in the Alps? The vacation is probably already an investment, so better to choose good-quality used equipment instead of buying it from the store.
All you need to do is make sure the items are of good quality and they don’t have any issues to know you didn’t waste your money. It’s worth trying to do this, especially for a one-time-use product, or a gaming console, or something that has an astronomic cost anyway, and it’s more on your wishlist than a necessity.
6. Impulse shop
Resisting the temptation of buying that cute top or a seasonal shiny décor object is what makes the difference between frugal people and people who never manage to save money.
Frugal people learn how to avoid impulse shopping, and all their purchases are strategically planned. They learned to create a time gap between the wish and the buying moment in order to be intentional with shopping and consider their purchases more carefully. This is how they make sure they only get what they need, or it’s really bringing value into their lives.
They also stay away from items that are very cheap or free because they are aware of the “good deals” that are just going to clutter their homes.
7. Overspend
Frugal people don’t go with the hype that makes us buy the latest items to be on trend. They don’t care about these things, and they focus on what they already have. For example, they prefer to repair an item instead of getting rid of it and replacing it right away.
They often budget and check to stick with the plan all the time. Frugal people are very creative when it comes to saving money and they don’t lack fun and recreational activities in their lives. They just chase for the best deals. For entertainment, they created their own hacks and research to make the most of the discounts and offers.
Just by planning and giving more time to a task they manage to save lots of money and have the best time of their lives.
If you want to enjoy your life to the fullest, be happy about every little thing, and keep a great lifestyle, we recommend a change of perspective with this book by Annie Raser-Rowland and Adam Grubb that you can find on Amazon: The Art of Frugal Hedonism: A Guide to Spending Less While Enjoying Everything More.
This book incorporates tools and techniques to help you take the actions needed to live frugally, but hedonistically, with the promise that following their advice one day you will realize that your bank account looks better while you wake up day by day more joyful, more excited to see what life brings for you and oh, you even look better.
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