Frugality is a broad and adaptable concept that varies from person to person. It’s not about conforming to a rigid set of rules, but rather finding the approach that works best for you.
You can embrace frugality in various ways, whether it’s by being mindful with your spending, opting for homemade items when possible, or finding affordable entertainment options. It’s all about making conscious choices that align with your own values and goals.
Contrary to popular belief, frugal individuals can enjoy the finer things in life without breaking the bank. They dine out at restaurants, invest in vehicles, indulge in vacations, subscribe to streaming services, and splurge on items they truly desire.
The key lies in their careful approach and astute financial management skills.
Here’s a summary of the 13 things frugal people typically do not do:
Pay Retail: Frugal individuals look for discounts, use apps, and shop during sales or at thrift stores to avoid paying full price.
Ignore Cash Back: They take advantage of cash-back credit cards and programs like Rakuten to save on their purchases.
Carry a Credit Card Balance: Frugal people understand that carrying a credit card balance is costly and avoid it to maintain a good credit score.
Ignore Their Health: Just as they maintain their vehicles, they prioritize their health with regular check-ups and address health concerns promptly. Whether it’s you, your home, or your car, frequent care will likely save you big money in the long term as those problems will get pricier over time if not tended to.
Spend Their Whole Paycheck: They aim to live below their means, saving for emergencies and the future rather than spending everything they earn.
Use Buy Now, Pay Later: Frugal individuals avoid Buy Now, Pay Later services (BNPL) to prevent impulsive spending and stick to their budgets.
Waste Food: They minimize food waste by planning meals and finding ways to make groceries last longer.
Pay Bills Late: Frugal people understand the importance of paying bills on time to maintain their credit score and avoid late fees.
Grocery Shop Without a List: They make shopping lists based on meal plans to prevent overspending on unnecessary items.
Toss Something That Can Be Repaired, Reused, or Sold: Instead of discarding items, they explore repair, reuse, or resale options to save money.
Let Insurance Renew Automatically: Frugal individuals regularly review their insurance policies to ensure they are getting the best rates.
Window-Shop, Online or Off: They avoid aimless shopping when bored and engage in cost-effective hobbies instead.
Keep Up with the Joneses: Frugal individuals do not try to match their lifestyle with others but focus on their own financial goals and needs.
Have you used any of the above techniques? If so, have they worked?
