10 Frugal Money Habits That You Need To Embrace

10 Frugal Money Habits That You Need To Embrace

Angela Mae  Tue, October 3, 2023

The word “frugal” often has negative connotations attached to it. Some people hear the term and associate it with being cheap or stingy, but that’s not the case at all. Being frugal can actually be a very positive thing in your life, especially if you’re trying to change your spending and savings habits for the better.

That doesn’t mean it’s easy to adopt a more frugal lifestyle or money mindset. Certain frugal money habits, no matter how beneficial they might be for your present and future, can be tricky to implement in your day-to-day life.

Some frugal habits can take time, patience and consistency to truly adopt, while others are relatively simple. In both cases, switching to a more frugal lifestyle is often more than worth doing.

That said, here are some specific frugal money habits that might be hard to create at first, but that are actually rather worth it.

Buy Food Strategically

Groceries are an essential expense, but it’s easy to go overboard and splurge on things you don’t need. Most grocery stores are designed to encourage impulse buying, especially when you first walk in or are nearing the checkout line. But if you’re trying to cut down on spending, one of the first things you should consider is your grocery bill.

One way to reduce unnecessary expenditures on groceries is to shop with a list and only buy the things that are on that list — no exceptions.

“One of the areas that many people have been struggling with saving on is groceries [as] the cost has gone up a lot over the past few years,” said Kendall Meade, certified financial planner at SoFi. “Have a grocery list (and plan it around the sales that week or month).”

While you’re at it, do some weekly or biweekly meal planning so that you know what to put on that list. You can also check your cupboards or refrigerator to see what you already have and plan your meals around that.

“Meal plan to ensure no food goes to waste (people also might be hesitant to implement this one because it does take some work on the front end but may actually save you time overall,” Meade said. You can also shop at discount grocery stores such as Sam’s Club, Aldi, Lidl or Costco to save on groceries.

Another way to save money on groceries is to buy in bulk — but only if you know you’re going to be able to use whatever you get.

https://www.yahoo.com/finance/news/10-frugal-money-habits-embrace-110020643.html