Over 60 Frugal Living Tips to Help You Save Big Money (2024)

Frugal Living

Looking for ways to save money? Check out these 60 frugal living tips that can help you save big… plus find a FREE frugal living guide.

Let’s face it, we all want to save money. I’ve been interested in living a frugal lifestyle since college and I have read a ton of articles on the subject. Since then, I’ve gotten married, bought a house and have four little boys! We definitely practice a lot of these frugal living tips in our own lives and I want to share my favorite frugal living tips to help you save, too!

FREE Frugal Food Guide!

Over 60 Frugal Living Tips to Help You Save Big Money (2)

Grab this FREE guide to feeding your family for less!

How do I live a frugal life?

Being frugal is not necessarily just pinching pennies and stretching your dollars. It’s being financially responsible and making the most of things you have.

Living frugally doesn’t mean that you will never have fun or splurge on anything. It’s living within or below your means to make the most of your money.

What are the benefits of frugal living?

Living a frugal life will keep you from being a slave to your money. It will give you the freedom to do what you want with your life, which is one of the big reasons the tiny house movement is so popular – imagine what you could do with low or no rent/mortgage payments!!

Retire early! This is another benefit of frugal living. You can choose when to retire instead of working until you are old enough for social security (if it’s even there for us at that time, anyways!). It can help you live comfortably well before typical “retirement age”.

Another benefit is having more money to save or invest. Having a fully funded emergency fund is a goal of ours, and pinching pennies now is helping us move toward that dream (right now it’s going toward debt!). You also will have less stress about money, because you won’t be living paycheck to paycheck, except in certain circ*mstances.

Over 60 of the BEST Frugal Living Tips

Do as much as you can yourself.

  • Make your own laundry & dish soap
  • Make your own cleaning products
  • DIY Baked Goods
  • Make your own convenience mixes
  • Cut your own lawn
  • Repair everything you can on your own (Youtube is your friend!!) -car -clothes -appliances
  • Take your lunch to work
  • Grow a garden and plant fruit trees and bushes
  • Handmade gifts
  • Take your coffee with you from home instead of buying it out
  • Dye your own hair and do your own nails (Youtube it or have a friend help)
  • Cut your kids’ hair yourself
  • Make your own smoothies and juice instead of buying it
  • Do your own taxes (it’s a pain but so worth it!)

Save money on food.

  • Weekly Meal Planning
  • Plan for Leftovers
  • Budget-Friendly Recipes
  • Switch to water instead of buying drinks
  • Work at recreating restaurant favorites at home
  • Have kids? Take advantage of all the Kids Eat Free promotions!
  • Use a slow cooker to tenderize cheaper cuts of meat and save electricity

Save on heating and cooling your home

  • Bundle up before turning up the heat
  • Seal your windows and doors (tip: use plastic wrap!)
  • Buy a programmable thermostat and set it to save money when you are not home

Reuse everything you can

  • Freeze leftovers for later (DIY frozen dinners!)
  • Freeze vegetables for soup and fruit or greens for smoothies
  • Turn leftovers into compost and use it for the garden

Give up what you don’t really need

  • Cable (use Netflix, Hulu or Amazon Prime)
  • Gym (work out at home!)
  • Combine trips in the car to save on gas
  • Cut down on dry cleaning – don’t buy dry clean only clothes and start cleaning most things on gentle in the washer or by hand

Buy in bulk or on sale

Buy used, rent or borrow

  • Buy secondhand clothes
  • Rent a prom dress
  • Rent tools you don’t use often

Find free or cheap things to do

  • No Spend Challenges
  • Budget Friendly Family Activities
  • Free or Cheap Date Night Ideas
  • Visit the library – free books and movies

Trade services or goods

  • Trade babysitting with friends to make date night even cheaper
  • Start or join a monthly freezer meal club to share the meal planning burden with others
  • Consider starting a clothing exchange or toy exchange with other parents you are friends with

Always buy some items at places like the Dollar Tree

  • Gift bags and tissue paper
  • Greeting cards
  • See a comprehensive list here!

Don’t shop unless you need to, and always shop for deals

  • Shop online and make sure you are getting the best deal (use ebates and also use an app like honey to find the best promotional codes!)
  • Look for things like “oops” paint, clearance flooring, etc when you know you will want to remodel your home
  • Check the outlet stores and scratch and dent stores when you need large items

___________________

Whew!! That’s a lot of ways to save money! Have any frugal tips that I’ve missed? What are some ways YOU save money? Comment below!

Over 60 Frugal Living Tips to Help You Save Big Money (3)
Over 60 Frugal Living Tips to Help You Save Big Money (2024)

FAQs

How can I save money when I am already frugal? ›

Ten Frugal Habits to Save Money
  1. Track Spending.
  2. Automate Your Savings.
  3. Save Loose Change.
  4. Compare Prices & Comparison Shop.
  5. Avoid Spending Triggers.
  6. Shop Second Hand.
  7. Save Windfall Income & Use a Spending Rule of Thumb.
  8. Institute a Waiting Period.

How do seniors live frugally? ›

Stick to a Budget

Regardless of how much you earn, keeping track of your spending, giving each dollar a “job” and spending less than you bring in are all good financial practices. Your biggest monthly expenses in retirement will likely be healthcare and housing costs, along with travel and transportation.

How to live extremely frugal? ›

12 Tips for Frugal Living
  1. Choose quality over quantity. ...
  2. Prioritize value over price. ...
  3. Use credit wisely. ...
  4. Declutter regularly. ...
  5. Use a budget to guide your spending. ...
  6. Know the difference between wants and needs. ...
  7. Be a savvy consumer. ...
  8. Prioritize your values.
Oct 17, 2023

How to retire and live cheaply? ›

  1. Target Proportionally.
  2. Choose a Lifestyle.
  3. Downsize for Savings.
  4. Trim Transportation Costs.
  5. A Frugal Approach to Food.
  6. Help Yourself to Better Health.
  7. Entertainment Options.
  8. Clothing and All the Rest.

What is the 50 20 30 budget rule? ›

Those will become part of your budget. The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

How to save money on almost everything? ›

What Is the Best Way To Save Money?
  1. Set goals. Set savings goals that motivate you, like saving up for a house or going on a dream vacation, and give yourself timelines for reaching them.
  2. Budget. Make a budget and make saving a necessary expense. ...
  3. Cut down on spending. ...
  4. Automate your saving. ...
  5. Pay off debt. ...
  6. Earn more.

Can I live on $2000 a month in retirement? ›

Retiring on a fixed income can seem daunting, but with some planning and commitment to a frugal lifestyle, it's possible to retire comfortably on $2,000 a month.

What does an average older 65 household spend most of its money on? ›

Housing. Unless you own your home and you've managed to pay off your mortgage, housing will be your biggest retirement expense. The BLS report found that, on average, people 65 and older spend $18,872 annually for housing. This represents 36.2% of your annual expenses.

Can you live on $2000 a month? ›

Living on $2,000 per month is doable, but you won't be able to live just anywhere. This is important because at the time of writing the average Social Security benefit paid is $1,701 per month.

What's the best example of frugal living? ›

What are some tips for being frugal?
  • Create a budget and stick to it. Being frugal begins with this tip. ...
  • Shop around for the best deals. Buy what you need from the first store you see, but don't just go to the first one you see. ...
  • Buy used instead of new. ...
  • Make your own stuff. ...
  • Repurpose and recycle. ...
  • Be patient.
Aug 22, 2023

How to be frugal in 2024? ›

Shop all at once — If you buy things one at a time through the week, it's easy not to realize how much you're spending. Instead, set some time aside to shop all at once so you can see the real total. Save to cart, save for later — This is a specific version of shopping all at once.

Where can you live well on $3000 per month? ›

5 Awesome Places to Retire on $3,000 a Month or Less
  • If You Want to Be Near the Beach: Gulfport, FL.
  • If You Desire Access to Arts and Culture: Duluth, GA.
  • If You Want to Be Close to a Transportation Hub: Alton, IL.
  • If You Crave the Outdoors: Coeur d'Alene, ID.
  • If You Want to Live Someplace Totally Foreign: Malta.
Jan 27, 2024

Where can I retire on $2000 a month in the United States? ›

The IRS will begin processing tax returns next week
RankingCityMonthly Expenditures
1Lake Charles, Louisiana$1,566.43
2Lansing, Michigan$1,610.05
3Cincinnati, Ohio$1,629.13
4Shreveport, Louisiana$1,637.09
24 more rows
Jan 22, 2024

Where can I retire on $800 a month? ›

Cuenca, Ecuador

With monthly living expenses ranging from $800 to $1,200, Cuenca stands out for its affordability without sacrificing quality of life. The city is applauded for its healthcare system, accessible and staffed by English-speaking professionals, ensuring peace of mind for expatriates.

How to live frugally on one income? ›

Living on a one-income budget
  1. Assess your financial situation. Start by understanding your current financial status. ...
  2. List fixed expenses. ...
  3. Track changing expenses. ...
  4. Differentiate needs vs. ...
  5. Set financial goals. ...
  6. Create an emergency savings fund. ...
  7. Allocate for savings. ...
  8. Start a debt repayment plan.

How can I stop being cheap? ›

How to be frugal without being stingy
  1. Set a budget and save for an item, even if it is something that seems extravagant, like designer jeans or a new fancy blender. ...
  2. Comparison shop for higher-priced items. ...
  3. Know when to spend. ...
  4. Ask yourself three questions before buying something: Do I need it? ...
  5. Compromise.

How to enjoy life with little money? ›

10 Ways to Live the Big Life on a Small Budget
  1. Eat Well on Less. ...
  2. Take Advantage of Nature for Exercising. ...
  3. Consider Alternative Accommodations. ...
  4. Take Short Trips Instead of Long Vacations. ...
  5. Don't Write Off Discount Stores. ...
  6. Look for Other Free Entertainment. ...
  7. Embrace Secondhand and Vintage Home Stylings. ...
  8. Give Back to Others.

Is frugal living worth it? ›

Living a frugal lifestyle not only helps you save money, but it can also help you establish healthier habits over time. For example, when you start to become mindful with your spending, chances are you'll be cooking more meals at home instead of eating out all the time.

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