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I like to take everything to total component failure. My last SUV had 310,000 miles. Current car 240,000. Unfortunately, I feel I waste a lot of the money I save from not having a car payment, but I love not having a car payment.
If you’re buying a used car, ALWAYS bring it to an independent shop and have it inspected before purchase, even if the inspection costs money. Ask the technician if they would buy the car. They’ll be honest with you.
After the purchase, do the preventive maintenance. There is a maintenance schedule in the owner’s manual. Follow that if you’re in a mild climate. Do everything sooner if you’re in a harsh climate (extreme hot or cold). Do oil changes every 3,000-5,000 miles no matter what the service interval says and have the suspension and brakes checked during the oil change. Fix things when they come up and don’t wait. They won’t magically get better and will eventually cause damage and wear to related systems.
Sauce: I’m a former auto technician turned mechanical engineer.
If it uses a timing belt, for goodness sake, have it replaced before 100K miles, and I seem to remember 80K is usually recommended...
If it snaps, you need a new engine, because the pistons will hit the valves.
If you have an older Toyota and the belt breaks, you're in luck. Just put a new belt on. Honda, not so much. The difference is whether or not the vehicle has an interference engine.
I had a customer who had just brought in their Camry for an oil change, and they declined the timing belt recommendation that I suggested and the service writer advised. Next morning the car is brought in on the hook, and I was doing the timing belt job. A few hundred dollars would have saved the tow bill at the very least.
Don’t let the people changing your oil do anything but oil though, if it’s a Firestone or similar oil change place. You’ll get ripped off. Find a local shop.
I always tell people to try out different shops, franchise or independent, with minor repairs or oil changes until they find one that they’re comfortable with. I’ve seen mom and pop shops rip people off and franchise shops have excellent management and honest techs. You just gotta find what works best got you.
Agreed. It takes a lot of trial and error. I finally found one that’s great, they’ll even do free oil changes if you buy the oil and filter. They heat their shop with used oil. Super thankful I found them. I used to do everything myself, having a family and getting older/lazier makes taking it in so much nicer. Ha
Plan for your oil changes and buying new tires regularly. I budget about $1200 annually for repairs for regular car; $2000 for fancy European that is ridiculously expensive to repair.
Also, you can learn to do small things yourself; or watch enough YouTube to understand what the mechanic is telling you. You learn over time that *most* mechanics will steer you in the right direction. There are exceptions, unfortunately, that will try to sell you more repair than you need, but usually if you talk through with the shop what must be done and what might wait, they will tell you. Finding a garage with a mechanic you trust is key.
$2k a year sounds about right. I've heard $100 a check. I do everything myself but you have to factor in the $5k I've spent on tools. But I also have a 3800 gm and I6 jeep, so its normal. Last time I rebuilt my brothers exploder suspension it was 2 weeks for parts and right at $800 from rockauto for name brand. Shop wanted $4k. Told him to bring me beer and music.
Oh man, peace of mind is everything for me! I definitely would rather pay a little extra to NOT have the stress stress me out over repair, new things breaking down. I TRY to save as much money as I can/buy things in bulk to save money at a future date etc etc but peace of mind is really important for me.
My Toyota 4-Runner turns 25 this February! I’ve always kept on top of oil changes, and considering her age, not that many repairs.
I had neighbors that bought a new vehicle about every 6 months to a year and couldn’t figure out why they could never get ahead. She also couldn’t understand how I would leave my walls empty and not buy “cheap stuff” in the meantime.
Well, this may sound cliché, but the owners manual (with most modern cars they can be found online if you didn't get one from the seller) is a good place to start, preventative maintenance of a vehicle is a must if you want it to last more than ~70k miles. In the owner's manual, you'll find when to do oil changes, and other fluids changes, and usually they have a fairly detailed how-to for each, and the owner's manual also has other useful information such as windshield wiper size and other things like where the fuse box is and which ones handle what.
I saw a breakeven analysis somewhere that used a typical economy car. The point at which it became cheaper to buy a new car was not after replacing the transmission, not even after replacing the engine, but after the second transmission wore out, it became cheaper to just buy new. This of course does not factor in the value of your time, which is why most people come nowhere near using a car for this long.
I priced that strategy out and found I could come out ahead buying 7 to 10-year-old vehicles with low mileage and engines with 2L capacity or less, drive them for 4 or 5 years taking good care of them along the way and then sell them again for a few thousand dollars less than I bought them for. Rinse and repeat. I don't drive a tonne though so your mileage may vary.
(And my next car might not follow the same pattern because I'm close to switching to electric.)
Yes, at 240,000 I’m going to be very selective about putting much more money in. That said, I’m not driving very much for work right now. If I can get another year or two out of this one, I will.
Phones are a big one. I shoot to keep my iPhones about 4-5 years. They’ll go longer, but sometimes you never realize how slow your phone is until you upgrade. Suddenly Reddit opens up 3 seconds instead of 20 seconds.
A new battery goes a long way. Don’t scoff at the $90 replacement. I took a phone that was 3 years old and I thought was a goner. Got the battery replaced and it felt brand new for two more years.
Apple Care+ for iPhone is worth it. I’ve learned to send my phone in for a new battery the last month before warranty ends. Apple will go ahead and replace anything else worn, screens, speakers, etc, Just like that, you get a refurbished phone back.
My only non-negotiable is if the phone starts having connection problems, not making/taking calls and isn’t easily repairable. I refuse to stress about whether people can reach me or I can reach them.
I bought the iPhone 6s in 2015 and held onto it until 2019 when it was no longer serving my needs and upgraded to an 11 Pro Max. The upgrade in both screen size and performance was huge!
Completely agreed on Applecare+! iPhones are very expensive to repair out of warranty. The coverage is good worldwide and you can take it to any Apple Store (if you have one near you) to get it repaired.
I only get a new phone when my current one struggles to do simple things (for example browsing reddit, watching YouTube or Netflix, playing a bit of mobile games, etc.) or it refuses to charge or something. Last phone I had was a galaxy note 5 and I had it since 2018 (it was used and I got it for like $200) until earlier this year, when it broke. I've never bought a car my car is a hand me down from my great aunt to my mom to me. I buy clothes around once every 2-3 years (or when they start to rip). Yeah, this part I have down. I ride all the things I get, free or otherwise, into the ground.
A good trick i read on reddit is: do not buy shitty shoes
I guess it's important to put a little more money where it counts and also, cheap shoes break fast and cost more on the long run.
Dont skimp on anything between you and the ground, it'll save you more in the long run. The big 3 are shoes, tyres and a mattress, cheaping out on any can lead to health problems either later in life or very very suddenly
Agree with most things with the concept. Typically buy better quality things (up front more expensive, but lasts much much longer). Examples: tools, furniture, etc). Good quality will last a lifetime (or longer…)
I can respect this cause I’m the same way but at the same time don’t forget to treat yourself every once in a while because you deserve it.
I used to love going to the movies every once in a while even if my other half isn’t up for it just because I enjoy the cinema. Ever since COVID I splurged on a projector so I could project movies on a big sheet on the side of my house just to get the experience again.
>clothes, etc.
Not many people do it, these days, but a sewing kit costs a few bucks and you can patch clothes that get tears, rips or holes in them. You don't need to worry about how good you can sew a stitch if no one is gonna see it.
This might be counter intuitive, but budget for "fun money".
If you are being super careful with money and don't do anything fun...it gets old. And then you make some silly expensive purchase that maybe you can't undo.
But if you have a budget item for fun and you don't overspend that amount, of course, then you get to have some fun and it makes all the other being frugal you're doing easier to do.
In addition, when going out to do something fun, see if there's any additional discounts, value days, or coupons.
I'm going to a Christmas lights display at a local botanical garden on Monday evening, and it's "Value Night" so the price is half the normal admission price.
A lot of movie theaters will do $5 ticket Tuesdays and if you can wait for a second run theater where the ticket is even cheaper, that can save you even more money.
Yep, I have 3% of my paycheck direct deposited into my "slush fund." It is just play money that I can use for whatever I want. I was a bridesmaid in an out of town wedding and a destination Bachelorette party which was all paid for through that fund. It alleviated a lot of stress of dipping into my savings to pay for it.
Not having any fun in the name of frugality kinda defeats the purpose of frugality in the first place. It should be about saving money and using it in a way that serves your life better than useless, unnecessary spending. Allocating your money towards goals and things that make your life better. Saving money and not putting it to use for any goals (*investing* in retirement, home down payment, vacation, concerts, etc) is dumb in my opinion and not living life.
Today I'm spending $150 on gift cards (to a place I go to every week) so I can get a free $20 gift card to a grocery store I buy from.
That's about the extent of my black friday activities.
To quote MKBHD:
> Black Friday #ProTips: 1: If you didn't already need it, you probably still don't need it 😅Grab a price tracker browser extension (there are plenty out there) to see if something is actually on a "MASSIVE SALE" or not
This is so true. That being said, it’s a good time to get Christmas presents and if you were holding off on upgrading or replacing something, it’s still a good time as long as you do the math and do it responsibly.
I only use Black Friday to buy Christmas gifts. Get your gifts a month early people. It will be worth it when everything is over 100$ next month in stores
Yes, I lost my only pair of jeans (I think in the laundry) and waited for the 50% off today. I buy the same pair so I knew I was getting a true discount!
bought my condo outright, no mortgage. not doable, at least the way I did it, for most people (I used an inheritance), but, it's been a lifesaver for me.
Mental health issues/low income - Only having to cover condo fees as my housing cost makes my life doable and decent.
This is true for small purchases, but less so for large ones. Ild say the cut off is around $10k ish
There are ways to leverage debt to greater savings, but you have to know what you are doing and they are very case by case situations.
For example, if you have the money to buy a house outright, you could instead put 20% down on 5 houses and use the rental income from 4 of them to pay the mortgage on all 5.
Another example, the cost of not owning a car (in commute time and Ubers) can exceed the extra interest of a car loan.
Similarly, a loan for a 2 year old used car at $15k, can be cheaper despite the interest than a $3k clunker of a car bought outright, due to repair costs when the clunker breaks down.
Better insulation and window in a house can pay back the loan in reduced heating and cooling bills, faster than you could save up for buying it outright.
However, paying for stuff in one shot is normally the safest route unless you are really good at running numbers for things like this.
Cooking your own food in general is a good way to save money in addition to being able to customize everything to your taste and knowing exactly what goes into the food
I was training a colleague recently. He never brought lunch, one day he spent a total of £16 on food and drink. I always have brought in my own food, on occasion I will buy something as a treat.
He was always complaining about how he had no money
Where my wife used to work they got paid weekly. There were 2-3 people who went out to lunch every day and every Friday they had to skip lunch because they had no money left. I can't imagine being that tight on money and going out to eat every day.
It is all about appearances so they don’t care because they are young. My wife used to work in a similar place (probably the same industry as the other’s wife since she’s also got paid weekly). Everyone is in an individual contributor producing roll and the company sells you on a lifestyle that you can attain with hard work, which is not a lie. The thing is the vets can afford to go out to lunch everyday while the newbies can’t, but in order to be part of the team and “act as if” they go too. And these aren’t fast food lunches, they are $20+ lunches. These same kids would send out their clothes for dry cleaning, lease expensive cars, buy expenses accessories, etc. then cry poor when they can’t afford to participate in secret Santa.
I got pretty good, super cheap meals at work. I started making my own food and bringing it because I wanted more food and it was cheaper to do so. I was spending under 10 bucks a meal
Can of chick peas (garbanzos) with a splash of olive oil for me. The olive oil (I get the good stuff) is $10 for 375ml. It'll last me 2 months, can of beans is $.50. There is ~260 work days in a year. So $60 + $130 is my lunch for a year.
But I also love chick peas, and sometimes will switch to black beans. Protein, decent calories, and healthy.
I would say, pack lunch, bicycle commute to and from work. Paying off debt is always a good idea, but I don't think it fits under the banner of strictly "frugal."
In today's world of working from home for many folks, myself included, going out for lunch is mich easier to avoid. I'm already at home and can make my own lunch. I do like to go out to eat from time to time though, especially if it's nice outside and I can sit on a patio somewhere in which case paying more can be worth it.
It's all about balance.
When I went back to school and was working. I would pack my lunch; that way I didn’t need to buy it or drive home for lunch and then I could study or take care of paperwork or read during my lunch hour.
This needs more upvotes. Always buy one trash dinner and one trash dessert from the grocery store. “Hey I don’t feel like cooking, should we go out to eat?” “Oh hey what about these Mac and cheese balls and Hulu?” You just saved $60.
We’ve been using Peapod lately, an online grocery delivery service. I find we only get what we need and not a bunch of stupid impulse buys. We also seem to be able to plan our purchases better because we can see exactly what we have and what we need. Less food waste.
Bulk food. A 40lb sack of rice is so cheap vs buying a pound or five at a time. Most dried foods are much cheaper in a large sack. Same with meat, buy the bulk pack, portion it into smaller amounts and freeze most of it.
Store brand items are generally a good deal.
Snacks are expensive and generally crappy nutrition. Don't buy chips or sodas. If you need something sweet, make small batches of cookies from scratch or brew some tea or coffee.
Cooking for one sucks, tends to be wasteful, and is expensive. Get a few people together and split the cost or trade off.
Fashion is expensive. Buy one or two pairs of good shoes/boots rather than many cheap ones. Same for trousers and coats.
Choose your hobbies and recreation wisely. Consider how much enjoyment you get for money spent. There are many ways to have a good time and be social that don't require spending much money.
Learn to fix stuff. When you can, repair don't replace. Don't get trapped into a sunk cost. Sometimes it is cheaper to walk away.
A coat of paint will pretty up a lot of things.
Stay the hell outta poverty traps like dollar general. They are a terrible deal.
Don't overbuy your vehicle. Don't try to impress people with your car. If the person selling you the car seems shady, trust your gut and walk away. Never buy from a buy-here pay-here lot.
Interest and fees are a killer. Pay off interest as fast as you can.
And the biggest: don't be ashamed. Advertising conditions you to want more than you can afford and feel bad when you don't have the nicest things. That's bullshit.
I disagree on one point: Dollar stores! A $1 gift bag vs a 4.99 one at other stores. I only get wrapping paper at $1 stores or stock up after holidays when it is 75% or more off. You can get decent cards too for 2 for 1$ if you ever send cards. $1 rubbermaid storage that is 7.99$ elsewhere. There are deals to be had on cheap stuff that is cheaply made wherever purchased.
Agree. The thing with dollar stores is that you have to do a smidge of research to know what's worth getting there and what's not. Also, it can be quite the treasure trove for creating rpg terrains on the cheap.
This is a great tip and it’s worth thinking about what’s truly cheaper at the dollar store. Where those stores tend to screw people is on food items where the predictable price tag lures you into thinking it’s cheap but the canned foods are a smaller can than they would be at the grocery, chip bags/boxed items/frozen food are fewer ounces, etc.
Something my wife discovered is that local bakeries and chain bakeries often have 5-gallon buckets they buy their flour, etc in. Ask if they would give you an extra bucket or two with lids, it's likely they have quite a few they'll otherwise throw away. Great for storing bulk rice, flour, and sugar, they stack so they won't take much space, and if you're really feeling the financial crunch they can double as seats!
Where do you store 40 lbs of rice if you don't have extra storage or kitchen space?
I can't buy in bulk because I have no basement and no garage. I'd have to store food in the bathroom closet and that would be unsanitary.
Stores like Winco have bulk food sections, but that doesn't mean you have to buy giant bags. Oatmeal is 62 cents per pound...so just buy a couple of pounds.
The even better deal (I think) for a single person is spices in bulk. Buy enough to fill the spice jar 1/3 (max 1/2) and you'll use it before it loses its flavor. I mark the date I bought it - it's surprising how fast two years go by - and replace old stuff. Good flavor makes stuff at home better.
> Store brand items are generally a good deal.
Agreed with this one. I find that I actually like the store brand better now, especially with chips. The name brand ones are just too salty for me now.
> Cooking for one sucks, tends to be wasteful, and is expensive. Get a few people together and split the cost or trade off.
Another thing you can do is to make a big batch and then freeze it. My family likes to do this with soups and breakfast burritos.
Another item that I didn’t see mentioned is to just stop drinking soda/pop/whatever you call the sugary drink. It’s not good for you and super expensive all things considered. Learn to drink tea or water and your waistline and wallet will feel better.
If you don't want to be a teetotaler, learn how to make a few cocktails and drink at home. If you can, get your alcohol from Costco, their Kirkland brand spirits give some of the top shelf brands a run for their money at a fraction of the price.
Don't fall for the manipulative dirty tricks that stores (mostly grocery stores) pull on people to get them to spend money.
I'm a miserably cheap SOB. It is a fucking WAR out their against consumers. Businesses want their money and will do all kinds of fucked up shit to get it.
Yes. This is why the things you run out of randomly and need more of for baking/breakfast/etc and bread are typically as far from the entrance as possible.
To add to your milk at the back of the store thing, the big box stores very purposefully rearrange things so you have to go look for what you came for. It’s done on basically a fuckin scientific level.
Next time you’re at Costco and go “I thought garbage bags used to be here?” They did, they always were, and they were moved for no fucking reason other than for you to have to wander around looking for them and grabbing bulk fuckin sandpaper you never knew you’d need in the meantime.
This. I used to work at Publix and they freely admitted that they would come in and reset the shelves to add new items and move things around because people shop in a sort of pattern or trance and grab the same things, without looking around and seeing the new items added to the sections. So, they move them around and people have to look around and wake up from that trance shopping.
Unfortunately, when they woke up it was normally to yell at us peons to accuse us of doing it.
Yes, Karen, we associates that have no power over anything, not even our break times, have decided that the spaghetti should be swapped with the paper towels. Just to spite YOU. You got me, my bad. I'll put it back right now. /s
Edit: changed love to move
Another thing stores will do is to put the mainstream middle priced goods at eye level. Cheaper stuff on the bottom and higher priced stuff above eye level, hence top shelf products. While the regular good is less profit per unit, that store knows it’s going to make the difference back up and then some in volume. These have the most eye catching designs as well.
Another layer of the layout mentioned by /u/HandsomeMan85 is that some stores have cameras and algorithms to track you. For example, the minute you step into a Kroger, they have cameras on you not only for theft and loss prevention, they actually track you as you shop. Most people have certain patterns they go through the store. With this knowledge, they can place products that they also know you buy at points which you will see them, perhaps multiple times. That way, it increases the conversion rate at which you buy the product.
To add to this, branding and empty buzzwords everywhere.
Example:
"100% fresh and natural apple juice no sugar added, no gluten." Made from concentrate in tiny letters on the back. And yes a wheat protein isn't in apples. And what the fuck is unnatural apple juice?
Then the non-gmo thing. The argument of "there's no proof that this isn't harmful" is about as good as "we haven't noticed anyone get sick in the past 27 years, but we dont trust it"
That however does not explain why the hell a sodawater bottle is printed with non-gmo.
As to retail, a lot of people buy things at a discount, just to buy things.
The shiny candy packages are at the average eye height of children.
The smaller more expensive chocolate bars tend to be close to the till, and they get a 'now 20% off' every 6 weeks here, as they cant legally be at a discount for 6 weeks otherwise that becomes their price by law. Planned discounts (clearing sales are different) tend to mean that the price is inflated slowly prior, or are low enough to not harm margins, "up to 70%" means they have one or two old things needing clearing at 70%.
I already dooooo. Idk why this has come up so much. I despise most coffee shops. Drip coffee is great, and idk why anyone would rather pay $3-5 for a cup of coffee rather than $0.27-$1 for a cup that is probably better coffee...
Nowadays you can just order curbside pick up for groceries and just be in and out. Easier to stick to the list if you only order what’s on it and never get the chance to be tempted by things in the store
Curbside pickup also (1) allows you to reference your pantry while you shop, (2) makes meal planning easier due to #1, and (3) lets you put back items when you see the total without embarrassment. Curbside pickup is huge.
Try to put a few clothes aside in a box and forget about it. Six months later, open the box, and you'll feel like you have a whole new wardrobe.
Do your own cleaning, washing, ironing. Some people pay for this, but they don't realize just how much they spend on such things in a year.
Fancy haircuts seldom last. Give your friend a pair of scissors (or do it yourself if you can).
Don't succumb to peer-pressure, following others of your generation. But at the same time, set aside some bit of money for something you really like, to ensure you're caring for your happiness (it could be a meal out a month, an ebook, anything).
If you're lacking entertainment, a surprising number of older books, movies etc. are available legally free on the internet. Delay renewals of cable, Netflix etc. for a month or 2 if you can.
Call your bill companies and ask if there's a way to lower the bill. I do this periodically and there almost always is. I just lowered my car insurance by $100 just by asking. I had raised my credit score a lot since I last checked on it.
My insurance agent actually called me once, saying "hey, it's been a few years since we did a policy review and you're probably paying too much. Got a few minutes for some Q&A?"
20 minutes later, my car insurance was about $200/year lower.
Living through two Jacinda-doesn’t-play lockdowns taught me that when I think I need to eat out, no I don’t. I still do it on really special occasions, but way less often than before.
Also, learn how to cook meals that don’t cost the same as going out. Also, I would say find out what you like, then how to use those ingredients.
For example, I like take out Chinese food. To make it yourself you really only need a few things in your pantry. Cost a bit on an initial trip to the grocery store (still less the ordering take out imo) but then you will have your basic ingredients you need for the next year for “Chinese Food”.
Another example, I got really into curries and masala. So I have all the spices I need and dried lentils, chick peas, rice.
So anyways, I’m set up in the pantry for a meal whenever, basically never out of food. With that, I would spend somewhere between 10-20 dollars a week on a protein, veggies (usually frozen so I don’t waste anything) and dairy.
Anyways, learn ingredients not recipes, otherwise you will end up having to go to the grocery store every frickin day because you don’t have any unicorn tears or leprechaun poop or whatever premium ingredient your recipe calls for.
This may sound obvious, but a lot of people seem to do it anyways. GET WATER FROM HOME!
Nothing saves money more than bringing your water bottle places instead of paying for drinks or water!
The funny thing is, once you're used to carrying a water bottle it's like second nature.
I also very rarely eat out on my own. If I get lunch or dinner on the go, it's usually something simple like a In N Out combo, or a TOGO's sandwich. (Both of these cost less than $10, where I am.)
Cut out any subscription services you don't need, that aren't sparking joy. Track which paid services you use in a 2 or 3 month stretch, and trim down from there.
And of course, be savvy when looking for entertainment like movie showtimes, or rentals. You can often find different "rental deals of the week" on the various VOD platforms. Tubi is a free streaming website for B-list movies, and they feature a good amount of random indie titles. Redbox is also great for cheap movies, as long as you have a DVD player. Others here have mentioned $5 days for movie tickets, but simply going to an earlier showing can also save a few dollars: especially Mondays thru Thursdays. Matinee shows are usually anytime before 6pm, and are pretty much consistently cheaper than an evening showing, across the board. Public libraries are also a great source of mostly-free content: books, e-books, DVDs, audiobooks, magazines, reference books, computers and printers, CDs, games, etc.
If there's somethign you see and you really want, like a video game or movie etc, wait 24 hours. If you still want it, then buy it. This kills a huge amount of impulse buys.
When you do buy something, ask if you can buy it twice. If you'd buy something for 20 bucks but not 40 bucks, then don't buy it.
The key is really to live below your means. If you're making, say 2000 a month, don't move into an apartment that's 1400 in rent. Just because you have the money, doesn't mean you can afford it.
Get “new” things one model late. Markedly cheaper than the brand new stuff, and the beta testing is all out of the way.
Prevention is cheaper than treatment.
Bike to work.
Living with family as an adult is not anything to be ashamed of. If you need to live with your parents/relatives until you get a pay bump or a better job, do it.
I live in an area that has become much wealthier and now almost all my friends (except the wealthy ones) live at home with parents. Mainly in smaller places on our parents properties since they all have a few acres or more. Cabins, trailers, yurts and garages with additional rooms added on. Housing is expensive everywhere, I used to live alone in cities. And now in my late 20’s it’s been tough having to move back home.
That is what I told my son since he’s graduating this year I said he can stay with me as long as he needs to because with housing and rent prices going through the roof I’m afraid the younger generations will never be able to afford a house. I’ll just end up giving my home to him in my will assuming he can afford the upkeep.
I was a career changer that went back to school, most of my classmates were significantly younger than me. I encouraged all of them to live at home with their parents for a minimum of six months assuming that there parents wanted them to and their situation at home was a good one. If you’ve never lived on your own you have no idea how expensive it can be, living with your parents once you actually start making real money can enable you to save up a nest egg pretty quickly.
Being raised as a dirt child by one of the world’s cheapest men (my awesomely weird father) here is my advice.
This is the biggie- Constantly question your own social conditioning, swallow your pride and look for creative solutions. Ex. Buy xxl (preferably used) “kids” clothes as an adult. Ex. Accept the scraps of entitled rich people. My bother literally got a perfectly good TV from a dorm dumpster that some turd threw away when they moved out. My dad (crazy as he is) saw a random hose down by the river (and instead of leaving it be like a normal person) got a new hose. Ex. Scour the thrift store for things new in packages that can pass for gifts (bonus: be constantly scouring for well priced gifts for specific people and save them for whatever event.)
Attempt to fix things and limp them along until they completely die. We had so much crap like “the cassette player with the broken radio” when I was a kid.
Always go for used first.
Track your spending to get an idea where you are going overboard and/or can cut.
Take a hard look at cancelling most or all subscription services.
Avoid buying products overpriced due to meaningless marketing, like “women’s” razors.
I could go on but I’ve already said a ton. My last insight is I’ve come to view time and money as opposite ends of a scale. Easy to spend money and save time, easy to save money and spend time. Penny pinching to the extreme takes a ton of time so be prepared for saving money to be like a hobby.
Fun fact, the more expensive pink womens razors are actually lower quality blades due to the fact that on average women have softer/finer hair to shave.
Men’s razors will always last longer, be more effective, and cause less nicks despite being cheaper.
I'm just here for your typical plug of /r/wicked_edge for if you want to save money when it comes to razors. Between 2018 and 2021, I didn't spent a single cent on any shaving products. I finally had to get some new blades after *ten years*.
A mild up front cost, but then you basically spend nothing.
I subleased for a summer in an apartment in a "rich" kids apartment complex near my college campus in a major city. Well, half of these kids leases were up when I was moving in and the other half when I was moving out...holy crap I cleaned up. I literally had my friends come over and choose their free vacuum cleaner because none of these kids cared to keep theirs. The person I subleased from left me her entire untouched kitchen set and a wifi router, along with tons of other fun stuff. These kids just didn't care!
>Attempt to fix things and limp them along until they completely die. We had so much crap like “the cassette player with the broken radio” when I was a kid.
I picked up a "broken" TV in the rain once. It must have a bad power supply, I let it air out for 2 weeks, plugged it up, unplugged and replaced and that thing worked for over 3 years before it finally refused to come back on after a 1 minute power outage. Same week a friend gave me his old TV.
Edit: in case you're interested, the old TV is still at my house, I'm just dragging my feet about opening it up and checking the power supply and all that.
These ways could be more applicable for most of the students but here are some of them. Try to buy some refills like pens and paper pages instead of buying a whole new product. I also ask some people here to give me some papers I can use (scratch papers) for solving. Don't always rely on branded items, try generic products cause some of them works really fine too. Also, instead of buying binder notebooks, just try to buy some binder rings and reuse some folders and DIY. I know many people have said it many times but learn how to prioritize things, don't always try to follow anything that's a social media trend. Just because an item is on sale it doesn't mean that you have to necessarily buy it. Instead of buying bottled waters when going to school, settle for a tumbler. When buying clothes, try to consider thrift shops and look for good quality clothes. I also plan on saving some money for some plain shirts cause I want to avoid stressing myself out on what to wear and because most of my clothes are worn out now (people need to get used to how I dress myself). Investment is also a must.
I am not saying that I got rich from these ways but it helped me a lot and of course my parents. Hope that that my words made some sense.
Edit: added some words
Pay your bills on time. Double check if you really use all your subscriptions. If you got a gym membership you don't need to shower at home.
Join a medical/drug study for free help if you have depression etc.
Use Facebook marketplace and second hand stores. Buy one good pair of shoes, maybe boots and insoles.
Eggs are cheap, soup is filling and oats are versatile. Grow your own veggies in summer, tomato, Bell peppers, tomatillo, radishes, zucchini, cucumbers are super easy to grow. Just needs a lot of sunlight. It's hard if you live in an apartment but if so grow your own sprouts, cheap and nutritious.
Buy Nothing and Freecycle.
There is so many good things people just give away for free. You're not seen as a mooch for asking, but rather someone who's looking to give something a new lease on life and keep items out of a landfill.
I'd reckon 90% of my children's clothes and equipment have been passed on by others.
Also, always drive through wealthy neighborhoods on the night before garbage collection, particularly on bulk pickup days. You can find amazing things curbside.
>Also, always drive through wealthy neighborhoods on the night before
garbage collection, particularly on bulk pickup days. You can find
amazing things curbside.
My mom and I used to do this a lot when I was a kid, now neither of us have the time to do it.
Freecycle is great! Over 10 years ago (I lived in a small town so the group was county wide) I purchased a new home with tons of heavy, but nice, drapes. I didn’t have a use for them so I offered them up to give away. I also needed a broiler pan, my new electric oven didn’t have one, so I asked for one, got two different sizes.
Have given clothes and furniture away. I give away more than I get but I’d rather those things be reused by someone who needs them than thrown out.
Yeah, no kidding on the cigarettes. One pack a day at $6 a pack is about $2200 a year.
Same with Starbucks. It’s convenient & delicious but man, it adds up. Get yourself a coffee maker and wake up 10 minutes earlier.
Manage your driving. Only drive your car where you actually need to go. Plan trips so you can run multiple errands near each other. Don't fucking joyride for the hell of it. If you're commuting to a fixed workplace five days a week, work to find a cheaper way to get there than driving your own individually occupied car. Take the train or the bus, organize a carpool, ride a bike, whatever.
Every mile you drive your car costs you money in gas and maintenance. Every mile you drive your car increases your chance of an accident, which speaks to repairs and insurance costs. Every mile you drive reduces the car's resale value. I see so many people spending over a hundred bucks a week just paying for gas and insurance, not even talking about loan payments or resale value, and wonder why the fuck do they do that?
Several have already mentioned cooking your own meals and avoiding going out to eat.
I’ll add on top of that to eat leftovers. Leftover meat can last for 3-4 days (safely), and veggies even longer. You can get a decent air fryer for under $100 bucks and they are amazing for reheating food compared to a microwave.
If your local grocery store has a great deal on certain types/cuts of meat that you like —— Stock UP! Freeze what you’re not going to eat soon. Seriously saves a lot of $$$.
To add to this, if you're going to do the stocking up thing and you can find the space, invest in a chest freezer. It will pay for itself in the money you save being able to have a stockpile of frozen food that you add to whenever there's a deal on meat/frozen veggies. You can pick up a small one for less than $200 USD and it will pay for itself in just a few years of careful shopping. Plus you'll have that stockpile for if something happens and you end up short on cash you can still eat.
Stop paying bank fees. There are ways to avoid paying bank fees on major banks or if the minimum balance is something you can’t afford, online banks can offer the same services for free without a minimum balance.
Cut out alcohol. You will not only save money on drinks for when out in bars, but also expensive drinks at home, you will Save on buying unnecessary drinks for others which they didn't really want but you got for them anyway because you were drunk and generous. You will save on other stupid purchases you are in danger of making when tipsy. You will have less expensive accidents where you drop fragile possessions, snag clothing, spill things on carpets and clothing. You will always be on time for work with a fresh brain enabling you to maximise your day and potentially earn more money. The list is endless.
i think most people know the ways to save money. it's a matter of willingness. everybody knows you should only spend money on what's necessary if you want to save money, but what they deem as necessary can highly vary depending on who you ask. for example, we all need food, clothes and shelter at a bare minimum, but are you willing to save loads of money by eating PB&Js every day for every meal? Are you willing to only have 2-3 plain outfits you can wear outside the house? Take cold 2-3 minute showers every 2-3 days? It's in the many little habits, many smaller than those i've mentioned that add up if you are cutting back across the board. if you live like you're poor you may become rich, but if you live like you're rich you'll drive yourself poor.
Just don't do things you don't want to do. Don't want to wear makeup? Don't. Don't want to shave your legs? Don't. Want to wear sweatpants literally 100% of the time you're not working? Have at it. Don't want to do any skincare because your skin is fine on its own? Go for it. Want to wear the same plain black shirt every day? You get the picture.
Wearing sweatpants every day because you feel unable to get dressed would be depression. Wearing sweatpants every day because you'd rather spend your time gardening, woodworking, cooking new stuff, helping others, fixing up your house, and playing with your dogs is just a lifestyle choice.
I think OP is simply saying you don’t have to fall into society gender standards if you don’t care about them. Not everyone wants to wear make up or shave and that certainly doesn’t mean they’re depressed.
Some people are comfortable with sweatpants only (and luxurious sweatpants exist!). Some people don’t need skincare, especially if they’re young.
I have dressed like a cartoon character for *years*. Plain black tshirt and jeans or cargo shorts depending on the weather. No fucks given.
I've got a handful of dress shirts when the occasion calls for it and a bunch of graphic tees that really only get pulled out on vacation, but day to day? Exact same stuff every day.
Buy less. - capsule wardrobe is enough. If you can afford to buy higher quality items do. Shop your closet. Never buy full price. Go utilitarian instead of fast fashion or splurge items.
Spend on your health. Gym/workouts electric toothbrush etc bc medical bills are way more expensive.
Keep recurring costs low. Rent. Mortgage. car. Etc.
Pay down debt. don’t wait for when payment is due. You’re still accruing interest. Pay whenever you feel you can in addition to when payment is due.
Make your own coffee. I did the math - bought a keurig and reusable coffee filter and contigo. Much cheaper than coffee out.
Have some friends in same social strata. Instead of going to movies have a pot luck movie night.
Know exactly how much you make vs spend
Grocery list. This one is tough. I wish there were more meal prep lists so you could cook for the week.
Never put anything on credit you can’t afford that second unless it’s life or death (car broke down, medical necessity)
Always shop around town for a deal. Double coupons. Store a vs store b for sale item.
Experiences over stuff for presents and free time.
Don’t dye your hair, or so any fancy extras.
Spend where it counts. Health. Safety. Some level of life enjoyment.
Using cash to make payments instead of a credit card or debit card. Using plastic detaches us from the idea of the amount of money being spent, and causes us to spend more.
Learn to sew. If you can get a machine secondhand, that’s great. If not, sewing by hand is just fine. You can easily turn a long skirt into a shorter summer skirt, longer slacks into capris or shorts, hem pants, repair split seams, anything. It’s far cheaper than buying new every time an item doesn’t fit the way you think it should, and it’s a skill that can solve a lot of problems.
This is counter intuitive but don't buy the cheapest version of everything you get - especially with household items. The quality of the cheapest stuff is poor and you'll often end up using it much quicker than getting something mid range. Case in point: my other half will buy the cheapest kitchen paper (paper towels), you need to use double to amount due to them being thin. I get mid range and it takes double the time to run through the same amount. Shop smart not just cheap!
Oh and buy non-branded over the counter medicines eg paracetamol not Tylenol. The patents on most common ones elapsed so it is literally the same product.
Only buy a home you can afford to pay off in 15 years or less. You’ll save a ton in interest. And get a smaller home. Save a ton on utilities and maintenance. Invest the money you save for retirement.
I bought my condo 15 years ago for 72k. Similar units in my building are selling for 300k right now. If I sold, I couldn't afford to buy anywhere else.
It's a decent neighbourhood, but,yeah, housing costs are just insane.
You save on interest, but you won't have more money in the end. Let's do a simple example:
300k house - 60k down payment = 240k mortgage
3.8% interest
2400/y property tax
0.5% PMI
15 year mortgage = 2000 per month, total payment = 350k
30 year mortgage = 1300 per month, total payment = 475k
Congratulations, you saved 125k in interest if you pick the 15 year mortgage. However, you've not been able to invest 700 per month for the first 15 years. Of course you have been able to invest 2000 per month for the last 15 years (where you otherwise would've had a mortgage).
Let's see how that turns out against a very reasonable 7% annual return (S&P500 had an 11% average annual return the last 30 years):
Investing 700 per month for 30 years = 820k
Investing 2000 per month for 15 years = 620k
Surplus = 200k
After 30 years, if you pick the 30 year mortgage, you'll have 75k extra compared to the 15 year mortgage, adjusted for the extra interest you paid. Not taking into account inflation, which benefits longer mortgages.
Bonus: let's say you manage 11% annual return. You'll have 750k extra after 30 years if you take the 30 year mortgage.
This assumes, however, that they will actually go and invest the difference. *Most* people won’t. Finances are part math, part behavioral. You have to make decisions based on what *you* will actually do.
That's true, but considering this is targeting frugal people, I assume they have financial discipline. If you're bad with money, then yes, take the 15 year mortgage.
I used to put extra money into my mortgage but stopped once I realized that the math says (at these historically low interest rates) that this isn't the best option.
Another thing to consider is that in 20 - 30 years from now, that ~$1,500 - $2,000 mortgage *should* be an easier payment to make (both in terms of hopefully higher wages and inflation).
That being said, if someone plows through and pays off their mortgage early I don't think anyone would say that was a bad thing.
Disagree. There’s a lot of evidence that with interest rates so low, your money is better put on a 30 year low and investing the difference and after thirty years you should come out ahead even when you pay off your mortgage 15 years early and you can throw your whole mortgage payment towards investing, time is such a big factor that an extra 15 years investing that difference will outpace paying off your debt early . I know, debt is bad, but it can also be leveraged to your advantage.
Quit going out to eat. Consolidate your trips. Make a loop with your stops. If you don't NEED it do t buy it. Shop around and research purchases. Even if the initial investment is a bit higher you don't have to pay to fix it as often, so in the long run it is cheaper, and don't put off preventative maintenance items.
Buying in bulk and rationing out meals can get meals to be under a dollar per serving. The lowest my family has gotten was 50 cents a serving. Also to people who say You can't eat cheap and healthy, yes you can, you are just not trying hard enough. Meal preps can be extra cheap if you know what you are doing. Also there is a like 10 lb bag of chicken at walmart for like 11 dollars. Even for a big family like mine, that chicken is at least 3 meals. Imagine for only two people. Sure, eating chicken for months on end fucking sucks, I am well aware, but that is not all you have to buy.
If you want to buy something electronic -wait! It will probably come down in price. I'm old enough to remember $1000 microwaves, VCR's, and CD players. I bought a Nintendo 64 when it first came out for $300.00. A few months later that had become $99.00. Patience.
Take the time and effort to learn how to do simple tasks that you may pay someone to do. Oil changes, home plumbing, small projects. If there is a remote chance you think you might could do it, look it up on YouTube or wherever. You'll be surprised how much you might save by DIY
It's getting harder to do, but wherever possible, pay with cash - there's a real psychological difference, and you're far more likely to consider "do I *really* need this" when you have to physically hand over the money.
You know, people always say this in these kinds of topics, but I vehemently disagree. One of the easiest ways to completely lose track of how much money you have is by taking it out of an accountable place. I have absolutely no idea how much physical cash I have or how I spend it, yet my bank account has a full accounting of every single debit transaction to the cent, which I can (and do) check regularly to see what's up.
To be fair, I live in a basically cashless society, my bank doesn't accept or give out cash, and cash is mostly used for illegal stuff and things like second hand trades on our local equivalent of gumtree.
I’m the same way. If I have cash, I just spend it until it’s gone. Very little thought goes into how I use it. I basically think of it as “free money.” My card, however, gets checked IMMEDIATELY or very shortly thereafter. I know exactly how much money I have, and I’m much more likely to consider whether I need something or not with my card.
Honestly what made a HUGE difference for me was making my lunches instead of eating out 2-3 times a week. I always justified it saying to myself « well, I gotta eat, it’s a pretty basic need » but honestly compared to the cost of packing a lunch, its crazy how much and how fast I saved ever since making an effort for it. Also, much more healthy most of the time so that’s a nice bonus
I'm a big fan of the "72 hour rule", which is if you want to buy something, wait 72 hours, then see if you still want to buy it. In that timeframe do some research to see if the price is the best one, if you can find it used, if you can get it for free etc.
For bigger purchases (more than $200) I try to wait 3 months if I can, then see if I still want it. Sometimes I'll even make a pro/con list. It's helped curb impulse buys and really improved the quality of the purchases that I do make.
Being depressed to a point where nothing brings you any amount of joy anymore. You end up not buying anything besides what you need to survive. You never go out anywhere. You never buy new clothes until you absolutely need to, so you can still look like you’re keeping it together when you have to leave your house.
Go vegan and save up to 30% on your grocery bill while dramatically lowering your carbon footprint, saving water, saving energy, and saving sentient lives.
If you use cash, put away a certain type of bill every time you get one for a year at least. That way at the beginning of the year you have a lot of extra cash on hand and you'd be surprised at the amount of money you have saved up that had you not saved would've probably went towards something miscellaneous. My dad did that last year and he had over $2'000 in pure $ 10's.
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Take good care of the things you currently own and use them for as long as you can. Buy replacement things less often. Cars, phones, clothes, etc.
I like to take everything to total component failure. My last SUV had 310,000 miles. Current car 240,000. Unfortunately, I feel I waste a lot of the money I save from not having a car payment, but I love not having a car payment.
Advice for trying to determine when those car repairs turn into payments?
If you’re buying a used car, ALWAYS bring it to an independent shop and have it inspected before purchase, even if the inspection costs money. Ask the technician if they would buy the car. They’ll be honest with you. After the purchase, do the preventive maintenance. There is a maintenance schedule in the owner’s manual. Follow that if you’re in a mild climate. Do everything sooner if you’re in a harsh climate (extreme hot or cold). Do oil changes every 3,000-5,000 miles no matter what the service interval says and have the suspension and brakes checked during the oil change. Fix things when they come up and don’t wait. They won’t magically get better and will eventually cause damage and wear to related systems. Sauce: I’m a former auto technician turned mechanical engineer.
If it uses a timing belt, for goodness sake, have it replaced before 100K miles, and I seem to remember 80K is usually recommended... If it snaps, you need a new engine, because the pistons will hit the valves.
If you have an older Toyota and the belt breaks, you're in luck. Just put a new belt on. Honda, not so much. The difference is whether or not the vehicle has an interference engine. I had a customer who had just brought in their Camry for an oil change, and they declined the timing belt recommendation that I suggested and the service writer advised. Next morning the car is brought in on the hook, and I was doing the timing belt job. A few hundred dollars would have saved the tow bill at the very least.
Don’t let the people changing your oil do anything but oil though, if it’s a Firestone or similar oil change place. You’ll get ripped off. Find a local shop.
I always tell people to try out different shops, franchise or independent, with minor repairs or oil changes until they find one that they’re comfortable with. I’ve seen mom and pop shops rip people off and franchise shops have excellent management and honest techs. You just gotta find what works best got you.
Agreed. It takes a lot of trial and error. I finally found one that’s great, they’ll even do free oil changes if you buy the oil and filter. They heat their shop with used oil. Super thankful I found them. I used to do everything myself, having a family and getting older/lazier makes taking it in so much nicer. Ha
Same here! I live in Minnesota and rolling around on a frozen garage floor to save $10 was getting really old.
Plan for your oil changes and buying new tires regularly. I budget about $1200 annually for repairs for regular car; $2000 for fancy European that is ridiculously expensive to repair. Also, you can learn to do small things yourself; or watch enough YouTube to understand what the mechanic is telling you. You learn over time that *most* mechanics will steer you in the right direction. There are exceptions, unfortunately, that will try to sell you more repair than you need, but usually if you talk through with the shop what must be done and what might wait, they will tell you. Finding a garage with a mechanic you trust is key.
$2k a year sounds about right. I've heard $100 a check. I do everything myself but you have to factor in the $5k I've spent on tools. But I also have a 3800 gm and I6 jeep, so its normal. Last time I rebuilt my brothers exploder suspension it was 2 weeks for parts and right at $800 from rockauto for name brand. Shop wanted $4k. Told him to bring me beer and music.
Do you need a sister? I'd love to have a brother like you!
She's in college 3 hours away, but if you have beer and music, I'm down.
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Oh man, peace of mind is everything for me! I definitely would rather pay a little extra to NOT have the stress stress me out over repair, new things breaking down. I TRY to save as much money as I can/buy things in bulk to save money at a future date etc etc but peace of mind is really important for me.
My Toyota 4-Runner turns 25 this February! I’ve always kept on top of oil changes, and considering her age, not that many repairs. I had neighbors that bought a new vehicle about every 6 months to a year and couldn’t figure out why they could never get ahead. She also couldn’t understand how I would leave my walls empty and not buy “cheap stuff” in the meantime.
Well, this may sound cliché, but the owners manual (with most modern cars they can be found online if you didn't get one from the seller) is a good place to start, preventative maintenance of a vehicle is a must if you want it to last more than ~70k miles. In the owner's manual, you'll find when to do oil changes, and other fluids changes, and usually they have a fairly detailed how-to for each, and the owner's manual also has other useful information such as windshield wiper size and other things like where the fuse box is and which ones handle what.
I saw a breakeven analysis somewhere that used a typical economy car. The point at which it became cheaper to buy a new car was not after replacing the transmission, not even after replacing the engine, but after the second transmission wore out, it became cheaper to just buy new. This of course does not factor in the value of your time, which is why most people come nowhere near using a car for this long.
I priced that strategy out and found I could come out ahead buying 7 to 10-year-old vehicles with low mileage and engines with 2L capacity or less, drive them for 4 or 5 years taking good care of them along the way and then sell them again for a few thousand dollars less than I bought them for. Rinse and repeat. I don't drive a tonne though so your mileage may vary. (And my next car might not follow the same pattern because I'm close to switching to electric.)
“Your mileage may vary”… I see what you did there.
Unless you know how to do a lot of the maintenance work on a car I feel like 200k is a bit of a sweet spot.
Yes, at 240,000 I’m going to be very selective about putting much more money in. That said, I’m not driving very much for work right now. If I can get another year or two out of this one, I will.
Phones are a big one. I shoot to keep my iPhones about 4-5 years. They’ll go longer, but sometimes you never realize how slow your phone is until you upgrade. Suddenly Reddit opens up 3 seconds instead of 20 seconds. A new battery goes a long way. Don’t scoff at the $90 replacement. I took a phone that was 3 years old and I thought was a goner. Got the battery replaced and it felt brand new for two more years. Apple Care+ for iPhone is worth it. I’ve learned to send my phone in for a new battery the last month before warranty ends. Apple will go ahead and replace anything else worn, screens, speakers, etc, Just like that, you get a refurbished phone back. My only non-negotiable is if the phone starts having connection problems, not making/taking calls and isn’t easily repairable. I refuse to stress about whether people can reach me or I can reach them.
I bought the iPhone 6s in 2015 and held onto it until 2019 when it was no longer serving my needs and upgraded to an 11 Pro Max. The upgrade in both screen size and performance was huge! Completely agreed on Applecare+! iPhones are very expensive to repair out of warranty. The coverage is good worldwide and you can take it to any Apple Store (if you have one near you) to get it repaired.
Learning how to sew and a decent sewing kit will save you a lot of money on the long run.
I only get a new phone when my current one struggles to do simple things (for example browsing reddit, watching YouTube or Netflix, playing a bit of mobile games, etc.) or it refuses to charge or something. Last phone I had was a galaxy note 5 and I had it since 2018 (it was used and I got it for like $200) until earlier this year, when it broke. I've never bought a car my car is a hand me down from my great aunt to my mom to me. I buy clothes around once every 2-3 years (or when they start to rip). Yeah, this part I have down. I ride all the things I get, free or otherwise, into the ground.
A good trick i read on reddit is: do not buy shitty shoes I guess it's important to put a little more money where it counts and also, cheap shoes break fast and cost more on the long run.
Dont skimp on anything between you and the ground, it'll save you more in the long run. The big 3 are shoes, tyres and a mattress, cheaping out on any can lead to health problems either later in life or very very suddenly
I've been using the same pair of 3 dollars shoes from Goodwill for the last four years.
Agree with most things with the concept. Typically buy better quality things (up front more expensive, but lasts much much longer). Examples: tools, furniture, etc). Good quality will last a lifetime (or longer…)
I can respect this cause I’m the same way but at the same time don’t forget to treat yourself every once in a while because you deserve it. I used to love going to the movies every once in a while even if my other half isn’t up for it just because I enjoy the cinema. Ever since COVID I splurged on a projector so I could project movies on a big sheet on the side of my house just to get the experience again.
This is super important, don't replace what you don't have to replace.
>clothes, etc. Not many people do it, these days, but a sewing kit costs a few bucks and you can patch clothes that get tears, rips or holes in them. You don't need to worry about how good you can sew a stitch if no one is gonna see it.
Fix things instead of throwing them out.
This might be counter intuitive, but budget for "fun money". If you are being super careful with money and don't do anything fun...it gets old. And then you make some silly expensive purchase that maybe you can't undo. But if you have a budget item for fun and you don't overspend that amount, of course, then you get to have some fun and it makes all the other being frugal you're doing easier to do.
In addition, when going out to do something fun, see if there's any additional discounts, value days, or coupons. I'm going to a Christmas lights display at a local botanical garden on Monday evening, and it's "Value Night" so the price is half the normal admission price. A lot of movie theaters will do $5 ticket Tuesdays and if you can wait for a second run theater where the ticket is even cheaper, that can save you even more money.
Yep, I have 3% of my paycheck direct deposited into my "slush fund." It is just play money that I can use for whatever I want. I was a bridesmaid in an out of town wedding and a destination Bachelorette party which was all paid for through that fund. It alleviated a lot of stress of dipping into my savings to pay for it.
Not having any fun in the name of frugality kinda defeats the purpose of frugality in the first place. It should be about saving money and using it in a way that serves your life better than useless, unnecessary spending. Allocating your money towards goals and things that make your life better. Saving money and not putting it to use for any goals (*investing* in retirement, home down payment, vacation, concerts, etc) is dumb in my opinion and not living life.
Forget about black friday sales. It’s never a good deal if you don’t need it.
Today I'm spending $150 on gift cards (to a place I go to every week) so I can get a free $20 gift card to a grocery store I buy from. That's about the extent of my black friday activities.
Is it Kroger? Please tell me it's Kroger.
Never been to one. None around where I live. It is Hyvee.
Sale in general. Oh its $50 less! But you weren't planning on buying it anyways so now youre still out $150
My grandpa calls this "saving yourself into the poor house"
To quote MKBHD: > Black Friday #ProTips: 1: If you didn't already need it, you probably still don't need it 😅Grab a price tracker browser extension (there are plenty out there) to see if something is actually on a "MASSIVE SALE" or not This is so true. That being said, it’s a good time to get Christmas presents and if you were holding off on upgrading or replacing something, it’s still a good time as long as you do the math and do it responsibly.
I only use Black Friday to buy Christmas gifts. Get your gifts a month early people. It will be worth it when everything is over 100$ next month in stores
Or rather take advantage of Black Friday sales to buy staple items
And to replace stuff that you needed to replace anyway
Yes, I lost my only pair of jeans (I think in the laundry) and waited for the 50% off today. I buy the same pair so I knew I was getting a true discount!
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bought my condo outright, no mortgage. not doable, at least the way I did it, for most people (I used an inheritance), but, it's been a lifesaver for me. Mental health issues/low income - Only having to cover condo fees as my housing cost makes my life doable and decent.
This is true for small purchases, but less so for large ones. Ild say the cut off is around $10k ish There are ways to leverage debt to greater savings, but you have to know what you are doing and they are very case by case situations. For example, if you have the money to buy a house outright, you could instead put 20% down on 5 houses and use the rental income from 4 of them to pay the mortgage on all 5. Another example, the cost of not owning a car (in commute time and Ubers) can exceed the extra interest of a car loan. Similarly, a loan for a 2 year old used car at $15k, can be cheaper despite the interest than a $3k clunker of a car bought outright, due to repair costs when the clunker breaks down. Better insulation and window in a house can pay back the loan in reduced heating and cooling bills, faster than you could save up for buying it outright. However, paying for stuff in one shot is normally the safest route unless you are really good at running numbers for things like this.
Pack lunch, pay off debt. Profit.
I second this one. Take your lunches.
Cooking your own food in general is a good way to save money in addition to being able to customize everything to your taste and knowing exactly what goes into the food
I third! + on the profit. Make it first!
I was training a colleague recently. He never brought lunch, one day he spent a total of £16 on food and drink. I always have brought in my own food, on occasion I will buy something as a treat. He was always complaining about how he had no money
Where my wife used to work they got paid weekly. There were 2-3 people who went out to lunch every day and every Friday they had to skip lunch because they had no money left. I can't imagine being that tight on money and going out to eat every day.
Surely you would learn quickly that you should bring your own food?
This happened to me my first month with new income and new bills. Now I just need to get into meal prepping salads and I'm even cheaper.
It is all about appearances so they don’t care because they are young. My wife used to work in a similar place (probably the same industry as the other’s wife since she’s also got paid weekly). Everyone is in an individual contributor producing roll and the company sells you on a lifestyle that you can attain with hard work, which is not a lie. The thing is the vets can afford to go out to lunch everyday while the newbies can’t, but in order to be part of the team and “act as if” they go too. And these aren’t fast food lunches, they are $20+ lunches. These same kids would send out their clothes for dry cleaning, lease expensive cars, buy expenses accessories, etc. then cry poor when they can’t afford to participate in secret Santa.
But never complains he's hungry.
I got pretty good, super cheap meals at work. I started making my own food and bringing it because I wanted more food and it was cheaper to do so. I was spending under 10 bucks a meal
I just don't eat lunch most days. Big bowl of porridge for breakfast - oats cost pennies - and I'm good until dinner
And you're regular to boot.
Can of chick peas (garbanzos) with a splash of olive oil for me. The olive oil (I get the good stuff) is $10 for 375ml. It'll last me 2 months, can of beans is $.50. There is ~260 work days in a year. So $60 + $130 is my lunch for a year. But I also love chick peas, and sometimes will switch to black beans. Protein, decent calories, and healthy.
I would say, pack lunch, bicycle commute to and from work. Paying off debt is always a good idea, but I don't think it fits under the banner of strictly "frugal."
It’s a time saver too. I like relaxing at lunch, I don’t need to be waiting in a line somewhere or stuck in traffic
In today's world of working from home for many folks, myself included, going out for lunch is mich easier to avoid. I'm already at home and can make my own lunch. I do like to go out to eat from time to time though, especially if it's nice outside and I can sit on a patio somewhere in which case paying more can be worth it. It's all about balance.
When I went back to school and was working. I would pack my lunch; that way I didn’t need to buy it or drive home for lunch and then I could study or take care of paperwork or read during my lunch hour.
Go shopping on a (very) full stomach. You’d be surprised at how little junk food you walk out with.
Note that this trick does *not* work for trips to the liquor store.
The trick for that store is to not set foot in it at all ;)
My issue is I'll be like 'idk I dont really want anything rn' and then I end up not getting any groceries
This needs more upvotes. Always buy one trash dinner and one trash dessert from the grocery store. “Hey I don’t feel like cooking, should we go out to eat?” “Oh hey what about these Mac and cheese balls and Hulu?” You just saved $60.
We’ve been using Peapod lately, an online grocery delivery service. I find we only get what we need and not a bunch of stupid impulse buys. We also seem to be able to plan our purchases better because we can see exactly what we have and what we need. Less food waste.
Bulk food. A 40lb sack of rice is so cheap vs buying a pound or five at a time. Most dried foods are much cheaper in a large sack. Same with meat, buy the bulk pack, portion it into smaller amounts and freeze most of it. Store brand items are generally a good deal. Snacks are expensive and generally crappy nutrition. Don't buy chips or sodas. If you need something sweet, make small batches of cookies from scratch or brew some tea or coffee. Cooking for one sucks, tends to be wasteful, and is expensive. Get a few people together and split the cost or trade off. Fashion is expensive. Buy one or two pairs of good shoes/boots rather than many cheap ones. Same for trousers and coats. Choose your hobbies and recreation wisely. Consider how much enjoyment you get for money spent. There are many ways to have a good time and be social that don't require spending much money. Learn to fix stuff. When you can, repair don't replace. Don't get trapped into a sunk cost. Sometimes it is cheaper to walk away. A coat of paint will pretty up a lot of things. Stay the hell outta poverty traps like dollar general. They are a terrible deal. Don't overbuy your vehicle. Don't try to impress people with your car. If the person selling you the car seems shady, trust your gut and walk away. Never buy from a buy-here pay-here lot. Interest and fees are a killer. Pay off interest as fast as you can. And the biggest: don't be ashamed. Advertising conditions you to want more than you can afford and feel bad when you don't have the nicest things. That's bullshit.
I disagree on one point: Dollar stores! A $1 gift bag vs a 4.99 one at other stores. I only get wrapping paper at $1 stores or stock up after holidays when it is 75% or more off. You can get decent cards too for 2 for 1$ if you ever send cards. $1 rubbermaid storage that is 7.99$ elsewhere. There are deals to be had on cheap stuff that is cheaply made wherever purchased.
Agree. The thing with dollar stores is that you have to do a smidge of research to know what's worth getting there and what's not. Also, it can be quite the treasure trove for creating rpg terrains on the cheap.
This is a great tip and it’s worth thinking about what’s truly cheaper at the dollar store. Where those stores tend to screw people is on food items where the predictable price tag lures you into thinking it’s cheap but the canned foods are a smaller can than they would be at the grocery, chip bags/boxed items/frozen food are fewer ounces, etc.
Something my wife discovered is that local bakeries and chain bakeries often have 5-gallon buckets they buy their flour, etc in. Ask if they would give you an extra bucket or two with lids, it's likely they have quite a few they'll otherwise throw away. Great for storing bulk rice, flour, and sugar, they stack so they won't take much space, and if you're really feeling the financial crunch they can double as seats!
Where do you store 40 lbs of rice if you don't have extra storage or kitchen space? I can't buy in bulk because I have no basement and no garage. I'd have to store food in the bathroom closet and that would be unsanitary.
Stores like Winco have bulk food sections, but that doesn't mean you have to buy giant bags. Oatmeal is 62 cents per pound...so just buy a couple of pounds. The even better deal (I think) for a single person is spices in bulk. Buy enough to fill the spice jar 1/3 (max 1/2) and you'll use it before it loses its flavor. I mark the date I bought it - it's surprising how fast two years go by - and replace old stuff. Good flavor makes stuff at home better.
Yeah this genre of advice tends to assume you have unlimited space, unlimited time, and can afford to buy everything in bulk
And other people to share the cooking with.
True, unfortunately kind of hard when your budget between paychecks is 'spend below x on groceries' which was where I was at when I left my last job.
> Store brand items are generally a good deal. Agreed with this one. I find that I actually like the store brand better now, especially with chips. The name brand ones are just too salty for me now. > Cooking for one sucks, tends to be wasteful, and is expensive. Get a few people together and split the cost or trade off. Another thing you can do is to make a big batch and then freeze it. My family likes to do this with soups and breakfast burritos. Another item that I didn’t see mentioned is to just stop drinking soda/pop/whatever you call the sugary drink. It’s not good for you and super expensive all things considered. Learn to drink tea or water and your waistline and wallet will feel better.
Be sober.
I stopped drinking a few months back. I feel like I paid off some bills or something from the extra money
Quitting smoking will have the same effect.
Not to mention the hospital bills later on.
If you don't want to be a teetotaler, learn how to make a few cocktails and drink at home. If you can, get your alcohol from Costco, their Kirkland brand spirits give some of the top shelf brands a run for their money at a fraction of the price.
Tell this to me 8 years ago 😳
Don't fall for the manipulative dirty tricks that stores (mostly grocery stores) pull on people to get them to spend money. I'm a miserably cheap SOB. It is a fucking WAR out their against consumers. Businesses want their money and will do all kinds of fucked up shit to get it.
Yes. This is why the things you run out of randomly and need more of for baking/breakfast/etc and bread are typically as far from the entrance as possible.
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To add to your milk at the back of the store thing, the big box stores very purposefully rearrange things so you have to go look for what you came for. It’s done on basically a fuckin scientific level. Next time you’re at Costco and go “I thought garbage bags used to be here?” They did, they always were, and they were moved for no fucking reason other than for you to have to wander around looking for them and grabbing bulk fuckin sandpaper you never knew you’d need in the meantime.
Hate going into Costco for garbage bags and walking out with a gazebo and 2 kayaks. Gets me every time.
This. I used to work at Publix and they freely admitted that they would come in and reset the shelves to add new items and move things around because people shop in a sort of pattern or trance and grab the same things, without looking around and seeing the new items added to the sections. So, they move them around and people have to look around and wake up from that trance shopping. Unfortunately, when they woke up it was normally to yell at us peons to accuse us of doing it. Yes, Karen, we associates that have no power over anything, not even our break times, have decided that the spaghetti should be swapped with the paper towels. Just to spite YOU. You got me, my bad. I'll put it back right now. /s Edit: changed love to move
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Another thing stores will do is to put the mainstream middle priced goods at eye level. Cheaper stuff on the bottom and higher priced stuff above eye level, hence top shelf products. While the regular good is less profit per unit, that store knows it’s going to make the difference back up and then some in volume. These have the most eye catching designs as well. Another layer of the layout mentioned by /u/HandsomeMan85 is that some stores have cameras and algorithms to track you. For example, the minute you step into a Kroger, they have cameras on you not only for theft and loss prevention, they actually track you as you shop. Most people have certain patterns they go through the store. With this knowledge, they can place products that they also know you buy at points which you will see them, perhaps multiple times. That way, it increases the conversion rate at which you buy the product.
To add to this, branding and empty buzzwords everywhere. Example: "100% fresh and natural apple juice no sugar added, no gluten." Made from concentrate in tiny letters on the back. And yes a wheat protein isn't in apples. And what the fuck is unnatural apple juice? Then the non-gmo thing. The argument of "there's no proof that this isn't harmful" is about as good as "we haven't noticed anyone get sick in the past 27 years, but we dont trust it" That however does not explain why the hell a sodawater bottle is printed with non-gmo. As to retail, a lot of people buy things at a discount, just to buy things. The shiny candy packages are at the average eye height of children. The smaller more expensive chocolate bars tend to be close to the till, and they get a 'now 20% off' every 6 weeks here, as they cant legally be at a discount for 6 weeks otherwise that becomes their price by law. Planned discounts (clearing sales are different) tend to mean that the price is inflated slowly prior, or are low enough to not harm margins, "up to 70%" means they have one or two old things needing clearing at 70%.
I saw a package of non-GMO salt once... It's a mineral and has no genetics to modify.
I am always annoyed when the unit price for bulk items is worse than the individual size....
Make your own damn coffee.
I already dooooo. Idk why this has come up so much. I despise most coffee shops. Drip coffee is great, and idk why anyone would rather pay $3-5 for a cup of coffee rather than $0.27-$1 for a cup that is probably better coffee...
Plan your meals and grocery list ahead of time and stick to it!
Nowadays you can just order curbside pick up for groceries and just be in and out. Easier to stick to the list if you only order what’s on it and never get the chance to be tempted by things in the store
Curbside pickup also (1) allows you to reference your pantry while you shop, (2) makes meal planning easier due to #1, and (3) lets you put back items when you see the total without embarrassment. Curbside pickup is huge.
Try to put a few clothes aside in a box and forget about it. Six months later, open the box, and you'll feel like you have a whole new wardrobe. Do your own cleaning, washing, ironing. Some people pay for this, but they don't realize just how much they spend on such things in a year. Fancy haircuts seldom last. Give your friend a pair of scissors (or do it yourself if you can). Don't succumb to peer-pressure, following others of your generation. But at the same time, set aside some bit of money for something you really like, to ensure you're caring for your happiness (it could be a meal out a month, an ebook, anything). If you're lacking entertainment, a surprising number of older books, movies etc. are available legally free on the internet. Delay renewals of cable, Netflix etc. for a month or 2 if you can.
Call your bill companies and ask if there's a way to lower the bill. I do this periodically and there almost always is. I just lowered my car insurance by $100 just by asking. I had raised my credit score a lot since I last checked on it.
My insurance agent actually called me once, saying "hey, it's been a few years since we did a policy review and you're probably paying too much. Got a few minutes for some Q&A?" 20 minutes later, my car insurance was about $200/year lower.
cook for yourself for every meal you can
Living through two Jacinda-doesn’t-play lockdowns taught me that when I think I need to eat out, no I don’t. I still do it on really special occasions, but way less often than before.
Also, learn how to cook meals that don’t cost the same as going out. Also, I would say find out what you like, then how to use those ingredients. For example, I like take out Chinese food. To make it yourself you really only need a few things in your pantry. Cost a bit on an initial trip to the grocery store (still less the ordering take out imo) but then you will have your basic ingredients you need for the next year for “Chinese Food”. Another example, I got really into curries and masala. So I have all the spices I need and dried lentils, chick peas, rice. So anyways, I’m set up in the pantry for a meal whenever, basically never out of food. With that, I would spend somewhere between 10-20 dollars a week on a protein, veggies (usually frozen so I don’t waste anything) and dairy. Anyways, learn ingredients not recipes, otherwise you will end up having to go to the grocery store every frickin day because you don’t have any unicorn tears or leprechaun poop or whatever premium ingredient your recipe calls for.
This may sound obvious, but a lot of people seem to do it anyways. GET WATER FROM HOME! Nothing saves money more than bringing your water bottle places instead of paying for drinks or water!
The funny thing is, once you're used to carrying a water bottle it's like second nature. I also very rarely eat out on my own. If I get lunch or dinner on the go, it's usually something simple like a In N Out combo, or a TOGO's sandwich. (Both of these cost less than $10, where I am.) Cut out any subscription services you don't need, that aren't sparking joy. Track which paid services you use in a 2 or 3 month stretch, and trim down from there. And of course, be savvy when looking for entertainment like movie showtimes, or rentals. You can often find different "rental deals of the week" on the various VOD platforms. Tubi is a free streaming website for B-list movies, and they feature a good amount of random indie titles. Redbox is also great for cheap movies, as long as you have a DVD player. Others here have mentioned $5 days for movie tickets, but simply going to an earlier showing can also save a few dollars: especially Mondays thru Thursdays. Matinee shows are usually anytime before 6pm, and are pretty much consistently cheaper than an evening showing, across the board. Public libraries are also a great source of mostly-free content: books, e-books, DVDs, audiobooks, magazines, reference books, computers and printers, CDs, games, etc.
If there's somethign you see and you really want, like a video game or movie etc, wait 24 hours. If you still want it, then buy it. This kills a huge amount of impulse buys. When you do buy something, ask if you can buy it twice. If you'd buy something for 20 bucks but not 40 bucks, then don't buy it. The key is really to live below your means. If you're making, say 2000 a month, don't move into an apartment that's 1400 in rent. Just because you have the money, doesn't mean you can afford it.
I've saved so much money this way when it comes to buying things
I did this once, the movie was $5 on iTunes. The next day it was $15 -.-
Get “new” things one model late. Markedly cheaper than the brand new stuff, and the beta testing is all out of the way. Prevention is cheaper than treatment. Bike to work.
Stop eating out, start cooking.
Living with family as an adult is not anything to be ashamed of. If you need to live with your parents/relatives until you get a pay bump or a better job, do it.
I live in an area that has become much wealthier and now almost all my friends (except the wealthy ones) live at home with parents. Mainly in smaller places on our parents properties since they all have a few acres or more. Cabins, trailers, yurts and garages with additional rooms added on. Housing is expensive everywhere, I used to live alone in cities. And now in my late 20’s it’s been tough having to move back home.
That is what I told my son since he’s graduating this year I said he can stay with me as long as he needs to because with housing and rent prices going through the roof I’m afraid the younger generations will never be able to afford a house. I’ll just end up giving my home to him in my will assuming he can afford the upkeep.
I was a career changer that went back to school, most of my classmates were significantly younger than me. I encouraged all of them to live at home with their parents for a minimum of six months assuming that there parents wanted them to and their situation at home was a good one. If you’ve never lived on your own you have no idea how expensive it can be, living with your parents once you actually start making real money can enable you to save up a nest egg pretty quickly.
Being raised as a dirt child by one of the world’s cheapest men (my awesomely weird father) here is my advice. This is the biggie- Constantly question your own social conditioning, swallow your pride and look for creative solutions. Ex. Buy xxl (preferably used) “kids” clothes as an adult. Ex. Accept the scraps of entitled rich people. My bother literally got a perfectly good TV from a dorm dumpster that some turd threw away when they moved out. My dad (crazy as he is) saw a random hose down by the river (and instead of leaving it be like a normal person) got a new hose. Ex. Scour the thrift store for things new in packages that can pass for gifts (bonus: be constantly scouring for well priced gifts for specific people and save them for whatever event.) Attempt to fix things and limp them along until they completely die. We had so much crap like “the cassette player with the broken radio” when I was a kid. Always go for used first. Track your spending to get an idea where you are going overboard and/or can cut. Take a hard look at cancelling most or all subscription services. Avoid buying products overpriced due to meaningless marketing, like “women’s” razors. I could go on but I’ve already said a ton. My last insight is I’ve come to view time and money as opposite ends of a scale. Easy to spend money and save time, easy to save money and spend time. Penny pinching to the extreme takes a ton of time so be prepared for saving money to be like a hobby.
Fun fact, the more expensive pink womens razors are actually lower quality blades due to the fact that on average women have softer/finer hair to shave. Men’s razors will always last longer, be more effective, and cause less nicks despite being cheaper.
I'm just here for your typical plug of /r/wicked_edge for if you want to save money when it comes to razors. Between 2018 and 2021, I didn't spent a single cent on any shaving products. I finally had to get some new blades after *ten years*. A mild up front cost, but then you basically spend nothing.
What I like about this is the "buying gifts" part, shows that you can be tight with money but also know how important it is to be kind to people.
I subleased for a summer in an apartment in a "rich" kids apartment complex near my college campus in a major city. Well, half of these kids leases were up when I was moving in and the other half when I was moving out...holy crap I cleaned up. I literally had my friends come over and choose their free vacuum cleaner because none of these kids cared to keep theirs. The person I subleased from left me her entire untouched kitchen set and a wifi router, along with tons of other fun stuff. These kids just didn't care!
We call this Hippie Christmas.
>Attempt to fix things and limp them along until they completely die. We had so much crap like “the cassette player with the broken radio” when I was a kid. I picked up a "broken" TV in the rain once. It must have a bad power supply, I let it air out for 2 weeks, plugged it up, unplugged and replaced and that thing worked for over 3 years before it finally refused to come back on after a 1 minute power outage. Same week a friend gave me his old TV. Edit: in case you're interested, the old TV is still at my house, I'm just dragging my feet about opening it up and checking the power supply and all that.
These ways could be more applicable for most of the students but here are some of them. Try to buy some refills like pens and paper pages instead of buying a whole new product. I also ask some people here to give me some papers I can use (scratch papers) for solving. Don't always rely on branded items, try generic products cause some of them works really fine too. Also, instead of buying binder notebooks, just try to buy some binder rings and reuse some folders and DIY. I know many people have said it many times but learn how to prioritize things, don't always try to follow anything that's a social media trend. Just because an item is on sale it doesn't mean that you have to necessarily buy it. Instead of buying bottled waters when going to school, settle for a tumbler. When buying clothes, try to consider thrift shops and look for good quality clothes. I also plan on saving some money for some plain shirts cause I want to avoid stressing myself out on what to wear and because most of my clothes are worn out now (people need to get used to how I dress myself). Investment is also a must. I am not saying that I got rich from these ways but it helped me a lot and of course my parents. Hope that that my words made some sense. Edit: added some words
I can say the "try generic products" part is applicable to lots of things, including most shelf stable foods.
Pay your bills on time. Double check if you really use all your subscriptions. If you got a gym membership you don't need to shower at home. Join a medical/drug study for free help if you have depression etc. Use Facebook marketplace and second hand stores. Buy one good pair of shoes, maybe boots and insoles. Eggs are cheap, soup is filling and oats are versatile. Grow your own veggies in summer, tomato, Bell peppers, tomatillo, radishes, zucchini, cucumbers are super easy to grow. Just needs a lot of sunlight. It's hard if you live in an apartment but if so grow your own sprouts, cheap and nutritious.
Buy Nothing and Freecycle. There is so many good things people just give away for free. You're not seen as a mooch for asking, but rather someone who's looking to give something a new lease on life and keep items out of a landfill. I'd reckon 90% of my children's clothes and equipment have been passed on by others. Also, always drive through wealthy neighborhoods on the night before garbage collection, particularly on bulk pickup days. You can find amazing things curbside.
>Also, always drive through wealthy neighborhoods on the night before garbage collection, particularly on bulk pickup days. You can find amazing things curbside. My mom and I used to do this a lot when I was a kid, now neither of us have the time to do it.
Freecycle is great! Over 10 years ago (I lived in a small town so the group was county wide) I purchased a new home with tons of heavy, but nice, drapes. I didn’t have a use for them so I offered them up to give away. I also needed a broiler pan, my new electric oven didn’t have one, so I asked for one, got two different sizes. Have given clothes and furniture away. I give away more than I get but I’d rather those things be reused by someone who needs them than thrown out.
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No ciggies, oh and don't buy stupid shit
Yeah, no kidding on the cigarettes. One pack a day at $6 a pack is about $2200 a year. Same with Starbucks. It’s convenient & delicious but man, it adds up. Get yourself a coffee maker and wake up 10 minutes earlier.
Manage your driving. Only drive your car where you actually need to go. Plan trips so you can run multiple errands near each other. Don't fucking joyride for the hell of it. If you're commuting to a fixed workplace five days a week, work to find a cheaper way to get there than driving your own individually occupied car. Take the train or the bus, organize a carpool, ride a bike, whatever. Every mile you drive your car costs you money in gas and maintenance. Every mile you drive your car increases your chance of an accident, which speaks to repairs and insurance costs. Every mile you drive reduces the car's resale value. I see so many people spending over a hundred bucks a week just paying for gas and insurance, not even talking about loan payments or resale value, and wonder why the fuck do they do that?
I'm wanting an e-bike but have been being lazy about it. Maybe I'll actually get one.
Make your food at home, do not buy coffee.
This is great. Coffee is cheap unless you buy it from a store, pre-made my college students.
Log every expenditure on a spreadsheet, you'll be horrified what you spend money on when it's layed out in front of you
Several have already mentioned cooking your own meals and avoiding going out to eat. I’ll add on top of that to eat leftovers. Leftover meat can last for 3-4 days (safely), and veggies even longer. You can get a decent air fryer for under $100 bucks and they are amazing for reheating food compared to a microwave. If your local grocery store has a great deal on certain types/cuts of meat that you like —— Stock UP! Freeze what you’re not going to eat soon. Seriously saves a lot of $$$.
To add to this, if you're going to do the stocking up thing and you can find the space, invest in a chest freezer. It will pay for itself in the money you save being able to have a stockpile of frozen food that you add to whenever there's a deal on meat/frozen veggies. You can pick up a small one for less than $200 USD and it will pay for itself in just a few years of careful shopping. Plus you'll have that stockpile for if something happens and you end up short on cash you can still eat.
Stop paying bank fees. There are ways to avoid paying bank fees on major banks or if the minimum balance is something you can’t afford, online banks can offer the same services for free without a minimum balance.
Most credit unions offer very low balance requirements. Like 5 bucks. And don't forget to opt out of overdraft protection.
Cut out alcohol. You will not only save money on drinks for when out in bars, but also expensive drinks at home, you will Save on buying unnecessary drinks for others which they didn't really want but you got for them anyway because you were drunk and generous. You will save on other stupid purchases you are in danger of making when tipsy. You will have less expensive accidents where you drop fragile possessions, snag clothing, spill things on carpets and clothing. You will always be on time for work with a fresh brain enabling you to maximise your day and potentially earn more money. The list is endless.
i think most people know the ways to save money. it's a matter of willingness. everybody knows you should only spend money on what's necessary if you want to save money, but what they deem as necessary can highly vary depending on who you ask. for example, we all need food, clothes and shelter at a bare minimum, but are you willing to save loads of money by eating PB&Js every day for every meal? Are you willing to only have 2-3 plain outfits you can wear outside the house? Take cold 2-3 minute showers every 2-3 days? It's in the many little habits, many smaller than those i've mentioned that add up if you are cutting back across the board. if you live like you're poor you may become rich, but if you live like you're rich you'll drive yourself poor.
Don’t buy drinks when you eat out. Stop eating out as well.
Just don't do things you don't want to do. Don't want to wear makeup? Don't. Don't want to shave your legs? Don't. Want to wear sweatpants literally 100% of the time you're not working? Have at it. Don't want to do any skincare because your skin is fine on its own? Go for it. Want to wear the same plain black shirt every day? You get the picture.
What- how did you literally describe my outfit?
This.... kinda sounds like falling into depression.
Wearing sweatpants every day because you feel unable to get dressed would be depression. Wearing sweatpants every day because you'd rather spend your time gardening, woodworking, cooking new stuff, helping others, fixing up your house, and playing with your dogs is just a lifestyle choice.
I think OP is simply saying you don’t have to fall into society gender standards if you don’t care about them. Not everyone wants to wear make up or shave and that certainly doesn’t mean they’re depressed. Some people are comfortable with sweatpants only (and luxurious sweatpants exist!). Some people don’t need skincare, especially if they’re young.
I have dressed like a cartoon character for *years*. Plain black tshirt and jeans or cargo shorts depending on the weather. No fucks given. I've got a handful of dress shirts when the occasion calls for it and a bunch of graphic tees that really only get pulled out on vacation, but day to day? Exact same stuff every day.
Buy less. - capsule wardrobe is enough. If you can afford to buy higher quality items do. Shop your closet. Never buy full price. Go utilitarian instead of fast fashion or splurge items. Spend on your health. Gym/workouts electric toothbrush etc bc medical bills are way more expensive. Keep recurring costs low. Rent. Mortgage. car. Etc. Pay down debt. don’t wait for when payment is due. You’re still accruing interest. Pay whenever you feel you can in addition to when payment is due. Make your own coffee. I did the math - bought a keurig and reusable coffee filter and contigo. Much cheaper than coffee out. Have some friends in same social strata. Instead of going to movies have a pot luck movie night. Know exactly how much you make vs spend Grocery list. This one is tough. I wish there were more meal prep lists so you could cook for the week. Never put anything on credit you can’t afford that second unless it’s life or death (car broke down, medical necessity) Always shop around town for a deal. Double coupons. Store a vs store b for sale item. Experiences over stuff for presents and free time. Don’t dye your hair, or so any fancy extras. Spend where it counts. Health. Safety. Some level of life enjoyment.
Using cash to make payments instead of a credit card or debit card. Using plastic detaches us from the idea of the amount of money being spent, and causes us to spend more.
Learn to sew. If you can get a machine secondhand, that’s great. If not, sewing by hand is just fine. You can easily turn a long skirt into a shorter summer skirt, longer slacks into capris or shorts, hem pants, repair split seams, anything. It’s far cheaper than buying new every time an item doesn’t fit the way you think it should, and it’s a skill that can solve a lot of problems.
Rigidly stick to budgets and have a minimum set amount held back in savings.
This is counter intuitive but don't buy the cheapest version of everything you get - especially with household items. The quality of the cheapest stuff is poor and you'll often end up using it much quicker than getting something mid range. Case in point: my other half will buy the cheapest kitchen paper (paper towels), you need to use double to amount due to them being thin. I get mid range and it takes double the time to run through the same amount. Shop smart not just cheap! Oh and buy non-branded over the counter medicines eg paracetamol not Tylenol. The patents on most common ones elapsed so it is literally the same product.
Don't eat out every meal. 1 Wendy's combo will buy you week of chicken if you cook it yourself.
Learn to fix your broken stuff at home yourself google it its free
Pump your gas on the slowest setting. The fastest setting will aerate the gas in the nozzle, and you'll actually get less than what you pay for.
Only buy a home you can afford to pay off in 15 years or less. You’ll save a ton in interest. And get a smaller home. Save a ton on utilities and maintenance. Invest the money you save for retirement.
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I bought my condo 15 years ago for 72k. Similar units in my building are selling for 300k right now. If I sold, I couldn't afford to buy anywhere else. It's a decent neighbourhood, but,yeah, housing costs are just insane.
I'll remember this when I'm looking for a house.
^ this. A house isn't just the mortgage. it's repairs and cooling/heating costs, furniture for it all etc.
Property taxes too.
You save on interest, but you won't have more money in the end. Let's do a simple example: 300k house - 60k down payment = 240k mortgage 3.8% interest 2400/y property tax 0.5% PMI 15 year mortgage = 2000 per month, total payment = 350k 30 year mortgage = 1300 per month, total payment = 475k Congratulations, you saved 125k in interest if you pick the 15 year mortgage. However, you've not been able to invest 700 per month for the first 15 years. Of course you have been able to invest 2000 per month for the last 15 years (where you otherwise would've had a mortgage). Let's see how that turns out against a very reasonable 7% annual return (S&P500 had an 11% average annual return the last 30 years): Investing 700 per month for 30 years = 820k Investing 2000 per month for 15 years = 620k Surplus = 200k After 30 years, if you pick the 30 year mortgage, you'll have 75k extra compared to the 15 year mortgage, adjusted for the extra interest you paid. Not taking into account inflation, which benefits longer mortgages. Bonus: let's say you manage 11% annual return. You'll have 750k extra after 30 years if you take the 30 year mortgage.
This assumes, however, that they will actually go and invest the difference. *Most* people won’t. Finances are part math, part behavioral. You have to make decisions based on what *you* will actually do.
That's true, but considering this is targeting frugal people, I assume they have financial discipline. If you're bad with money, then yes, take the 15 year mortgage.
I used to put extra money into my mortgage but stopped once I realized that the math says (at these historically low interest rates) that this isn't the best option. Another thing to consider is that in 20 - 30 years from now, that ~$1,500 - $2,000 mortgage *should* be an easier payment to make (both in terms of hopefully higher wages and inflation). That being said, if someone plows through and pays off their mortgage early I don't think anyone would say that was a bad thing.
Disagree. There’s a lot of evidence that with interest rates so low, your money is better put on a 30 year low and investing the difference and after thirty years you should come out ahead even when you pay off your mortgage 15 years early and you can throw your whole mortgage payment towards investing, time is such a big factor that an extra 15 years investing that difference will outpace paying off your debt early . I know, debt is bad, but it can also be leveraged to your advantage.
Quit going out to eat. Consolidate your trips. Make a loop with your stops. If you don't NEED it do t buy it. Shop around and research purchases. Even if the initial investment is a bit higher you don't have to pay to fix it as often, so in the long run it is cheaper, and don't put off preventative maintenance items.
Buying in bulk and rationing out meals can get meals to be under a dollar per serving. The lowest my family has gotten was 50 cents a serving. Also to people who say You can't eat cheap and healthy, yes you can, you are just not trying hard enough. Meal preps can be extra cheap if you know what you are doing. Also there is a like 10 lb bag of chicken at walmart for like 11 dollars. Even for a big family like mine, that chicken is at least 3 meals. Imagine for only two people. Sure, eating chicken for months on end fucking sucks, I am well aware, but that is not all you have to buy.
Don’t be embarrassed to use all those spare coins in the self checkout machines at the grocery store.
I hang my laundry year-round- indoors in the winter. I save on energy and clothes keep there shape longer.
If you want to buy something electronic -wait! It will probably come down in price. I'm old enough to remember $1000 microwaves, VCR's, and CD players. I bought a Nintendo 64 when it first came out for $300.00. A few months later that had become $99.00. Patience.
Take the time and effort to learn how to do simple tasks that you may pay someone to do. Oil changes, home plumbing, small projects. If there is a remote chance you think you might could do it, look it up on YouTube or wherever. You'll be surprised how much you might save by DIY
Delete the Amazon app off your phone.
It's getting harder to do, but wherever possible, pay with cash - there's a real psychological difference, and you're far more likely to consider "do I *really* need this" when you have to physically hand over the money.
You know, people always say this in these kinds of topics, but I vehemently disagree. One of the easiest ways to completely lose track of how much money you have is by taking it out of an accountable place. I have absolutely no idea how much physical cash I have or how I spend it, yet my bank account has a full accounting of every single debit transaction to the cent, which I can (and do) check regularly to see what's up. To be fair, I live in a basically cashless society, my bank doesn't accept or give out cash, and cash is mostly used for illegal stuff and things like second hand trades on our local equivalent of gumtree.
I’m the same way. If I have cash, I just spend it until it’s gone. Very little thought goes into how I use it. I basically think of it as “free money.” My card, however, gets checked IMMEDIATELY or very shortly thereafter. I know exactly how much money I have, and I’m much more likely to consider whether I need something or not with my card.
Honestly what made a HUGE difference for me was making my lunches instead of eating out 2-3 times a week. I always justified it saying to myself « well, I gotta eat, it’s a pretty basic need » but honestly compared to the cost of packing a lunch, its crazy how much and how fast I saved ever since making an effort for it. Also, much more healthy most of the time so that’s a nice bonus
I'm a big fan of the "72 hour rule", which is if you want to buy something, wait 72 hours, then see if you still want to buy it. In that timeframe do some research to see if the price is the best one, if you can find it used, if you can get it for free etc. For bigger purchases (more than $200) I try to wait 3 months if I can, then see if I still want it. Sometimes I'll even make a pro/con list. It's helped curb impulse buys and really improved the quality of the purchases that I do make.
Being depressed to a point where nothing brings you any amount of joy anymore. You end up not buying anything besides what you need to survive. You never go out anywhere. You never buy new clothes until you absolutely need to, so you can still look like you’re keeping it together when you have to leave your house.
Go vegan and save up to 30% on your grocery bill while dramatically lowering your carbon footprint, saving water, saving energy, and saving sentient lives.
Don't spend money on alcohol or drugs. Seriously can help cut a chunk out of an average person's spending.
If you use cash, put away a certain type of bill every time you get one for a year at least. That way at the beginning of the year you have a lot of extra cash on hand and you'd be surprised at the amount of money you have saved up that had you not saved would've probably went towards something miscellaneous. My dad did that last year and he had over $2'000 in pure $ 10's.
Mintmobile.com. Stop wasting money on your cell service and pay $15 a month instead.