Regardless of whether you earn a little money or a lot, it pays to be in control of your finances. Let’s face it- money is easily wasted, and even if you have expendable income each week unless you’re being careful and monitoring it it will trickle through your fingers like a handful of sand. Life on a budget and frugal living doesn’t have to be restrictive, it just allows you to put your money to it’s best use. Whether that means saving it or spending it on worthwhile things, it beats wasting it on rubbish. Here are some ideas for living a more frugal lifestyle.
Set a Budget and Stick To It
The first thing to keeping in control of your money is knowing exactly how much you have coming in, and what goes out. It’s a good chance to evaluate your spending and work out where you can make cutbacks. If you’re paying a lot on debt for example, could you use a company like DebtConsolidation.Loans to consolidate everything into one and avoid interest? A budgeting app or tool can be useful and help you get all of the information you need in one, easy to read place.
Cook From Scratch
For most families, one of the biggest spends is on food. We’re all guilty of buying takeaways, coffees from coffee shops, snacks at the cinema, a pastry at the station for our morning commute. On top of groceries where big brands appear in our cart like magic, it can all add up. Cooking meals from scratch is far cheaper than buying convenience food if you don’t have time to do this every day then batch cook at the weekend and freeze in individual portions. Having a well-stocked store cupboard can save money too, that way between shops when your fresh ingredients are running low, you can always cook a meal from this and not have to buy an expensive takeaway.
Save What You Can
You could transfer money into a savings account each week, or you could just save up your loose change. Whatever you have, save what you can and it will all add up. A rainy day fund can so useful, and even a small amount could come in handy when you’re experiencing a difficult time with money. If you’re able to get some proper savings behind you then even better, but whatever you can save is certainly better than nothing.
Reuse and Repurpose
Upcycling is very in-vogue right now, which is useful for those on a budget. You could reuse and upcycle pieces of furniture you already own, giving them a coat of paint and new handles for a fresh look instead of buying brand new. Otherwise, you could buy inexpensive old wooden pieces from places like Craigslist and thrift stores and make them over. You get a unique piece, and can save so much money compared with buying new. Not to mention it’s better for the environment.