A Comprehensive Guide On What Is Frugal Living

plan for frugal life

Frugal living refers to the simple act to live with all the means you have. It essentially involves spending your money wisely and smartly. It primarily includes making certain choices to save money for your future. Whether you want to pay off your debts soon or living your dream life, leading a frugal living can be a smart choice.

Some people might interpret frugality as cheap. However, a big difference lies between being cheap and being frugal. As an individual leads such a life, they tend to spend less money, as compared to the average people.

This, however, does not means you have to live an extreme life or lead a miserable life. As a person lives such a living, they tend to waste less and be more resourceful with the money, they have. It helps in living happily and simply with less money.

The ultimate key to living such a life is maintaining a striking balance between saving and spending. Just because you are being frugal, does not mean that you have to live a miserable life.

It rather means practicing spending your money consciously. Here, you require prioritizing the purchases to ensure that you spend your money on what is valuable and truly important. If you are wondering what is frugal living, go through this write-up:

What is frugal living?

Frugal living indicates being sensible with the money, you earn. As you opt for this form of living, you will be capable of affording things, you love and which will bring real value to your life. If you are looking for a perfect option for re-programming your spending and keep more spare cash for a rainy day, it is recommended to go for a frugal lifestyle.

People, who live their life on a paycheck to paycheck, look for different options for spending less money so that they can reduce their daily financial stress.

On the other hand, some people want to save as much money as they can for expenses such as purchasing a home or a wedding might be on the horizon. They might also want to do so for saving for their retirement or the college fund of their children.

As you choose a frugal living, you will gain success in achieving your personal financial goals. If you have been in a financial crisis for a while, leading this lifestyle is considered to be the perfect choice to get rid of the situation and living a stress-free life.

Benefits of frugal living

There is a wide array of reasons why people prefer to opt for frugal living. Take a look!

It reduces stress

There is no great satisfaction than not being worried about money again. It is a great feeling to plan an early retirement, get rid of debts, and have a healthy bank balance at the same time.

You do not need to be a plastic surgeon, a day trader or a CEO for achieving the specific feeling. Frugal living is considered to be the best option in this regard as it ensures financial security.

happy relaxed employee

A good night sleep

As you stick to a budget on the income of the last month and live this lifestyle, you are not going to be stressed about money again. This allows you to save a significant percentage of your income. You will be capable of sleeping better at night as you will gain success in coping with the ups and downs of your life by opting for frugal living.

Improving your credit score

Debts can cause a huge burden on you and you are going to lose your night’s sleep over this. With frugal living, you can pay your debt in no time and you will see that your credit score has improved significantly.

With a better credit score, you are sure to get a plethora of attractive deals and there will be much less interest on any loan, you want. This can be a huge advantage if you are planning to purchase a house or a car.

You can invest in things that matter

Whether you want to purchase your dream home or a car, it is recommended to take some time to figure out what you want. People living the frugal lifestyle spend their money on things that matter. They do not end up shopping for unnecessary things. You will be capable of spending money differently by choosing this form of lifestyle.

You do not need to worry about retirement anymore

As you become frugal, you can make a difference in the way in which you handle finance. Thus, you can enjoy a comfortable retirement without the need to worry about money. You can invest your money in different retirement funds so that you can go easy on your retirement.

It is good for the environment

If you are a newbie to frugal living, you start to repurpose and reuse old items, in place of throwing them away. Thus, there will be much less trash in waterways, dumps, and landfills. People who purchase used products instead of the new ones will be throwing a plethora of less product packaging in their whole life.

As you trade for used products, it indicates that less energy is used for packaging, production, and shipping for products, you do not buy. As you purchase a fuel-efficient and budget-friendly car, you can contribute to reducing greenhouse gases and air pollution.

Living this lifestyle indicates the consumption of certain resources of the planet. Though you cannot resolve the environmental issues completely, it is a good starting point.

Tips to live a frugal living

Here are some tips that will be helpful to you in leading a frugal lifestyle:

Monitoring your food budget

If you want to live a frugal life, it is recommended to control your food budget. Growing food on your own or cooking your food plays a vital role in reducing your expenditure on food.

Hitting the happy hour special and splitting the entrees can be a great option to avoid excessive spending on food. Besides this, you should be planning the meals. Try growing vegetables and herbs on your own. Go for budget-friendly meats.

Say goodbye to your bad habits

Getting rid of your junky food habits, limiting the consumption of alcohol, and cutting back on smoking are recognized to be the amazing options for saving money. Fancy coffees, alcohol, and cigarettes consume a significant part of your budget.

In addition to this, they are also responsible for the deterioration of your health. Hence, it is recommended to cut back these filthy habits. Apart from improving your physical health, they also help in improving finances every month.

Set a budget and stick to it

Frugal living is being smart with your spending. Hence, it is a prerequisite to set a specific budget and stick to it. For creating a budget, you should be capable of tracking the bills, the income, the amount of money you save every month, the total amount of leftover money. Take some time to track these things as they are necessary to set the right budget.

piggy bank with text budget

Travel like a minimalist

You can say no to luxury travel to lead a frugal lifestyle. Experiences and travel are also important to escape mundane life. Traveling is a good idea but while traveling; you can avoid spending on fancy clothes and other expensive things. Hence, it is recommended to travel as a minimalist. It indicates that you should not spend money unnecessarily on check-in bags. Make sure to pack your bag efficiently.

Using more coupons and freebies

Using freebies, deals, offers, and coupons can be an ideal choice for living a frugal living. You can make use of them for saving money on certain items.

However, you should make sure to use them mindfully instead of using them as an excuse for spending on something, you do not need.

Cancel newspaper and magazine subscriptions

With the increased dependence of the internet, it is possible to get access to entertainment, information, and news for free online. In addition to this, these subscriptions are expensive and involve a huge cut off from your pocket. Hence, for living a frugal life, it is recommended to cancel those costly magazine and newspaper subscriptions.

Opt for a library card

Instead of spending your money unnecessarily on DVD’s and books, it is recommended to borrow them from your local library at absolutely free of cost.

There are a plethora of libraries that boast an amazing selection of the latest movies, music, and books. The best thing about borrowing movies or books is that you do not feel frustrated about spending money unnecessarily if you do not enjoy watching the movie or reading the book.

Keep your credit use at bay

If you are affirmed to stick to the cash-based budget, you should say no to make a credit card purchase. Try making payments in cash as these will help you to monitor your spending.

There is no doubt in the fact that paying for everything by cash can be a bit challenging in the beginning. However, it will allow you to be aware of your spending and financial situation. If you do not have sufficient cash for paying for something, you should not spend your money on buying it.

Saving on shopping

You will be capable of saving a lot as you avoid unnecessary spending on shopping. You can try shopping at the end of the season as you will get a lot of deals and offers during the time. You can prefer to do a basic stitch for making small repairs to the clothes.

In addition to this, you should use less and good quality of detergent for enhancing the durability of your clothes. Have a look at the labels to check out the special care instructions before buying clothes.

This will be useful in preventing excessive money on high dry-cleaning costs. Do not go for unnecessary shopping just because you are feeling bored. You should make sure to keep your shopping list within an exclusive budget.

Live a clean and hygienic life

As you work hard for keeping your home clean and hygienic, you will need less money for cleaning it. Cleaning is so better to live a happy life. In addition to this, it plays a vital role in preventing illness. This means you will spend less money on medicines. If your home gets grimmy, you will need more expensive products for cleaning it again.

Saving money on transportation

To live a frugal life, you can save a lot of money on transportation. It is recommended to walk to work, if possible. Make sure to complete all the errands in a single day.

You can clean the car out for reducing gas mileage and removing extra weight. Take a look at your insurance coverage to ensure whether you have received applicable driver discounts.

It might be a great idea to refinance the auto loans if you find the interest rates to be too high. If you are planning a trip, try booking the flights for Tuesday and Monday as the prices for tickets are much less on those days.

Try to do it yourself

Repairs can involve a huge cut off from your pocket, primarily when it is about your car or your home. You can try repairing yourself by taking a look at videos on YouTube. However, you should be careful while doing so as minor mistakes might lead to breakage in your wallet.

Purchase a deep freezer

To control your expenditure, it is recommended to purchase meat as well as other frozen products in bulk amount and store the same in a deep freezer. Keeping them in the basement or garage might be an ideal option for storage.

As you purchase these food products in bulk amounts, they involve a reduced cut off from the pocket. In addition to this, they are going to last for a longer time as you keep them in frozen condition. This will be beneficial in reducing your grocery bill.


You can become more frugal with every passing year as you become smart with your spending. Make sure to pay your bills on time to avoid late fees. Being organized and avoiding spending money unnecessarily is the key to living a successful frugal life.

Mark Jorel Snow

Mark Jorel Snow brings over 15 years of financial experience to help everyday people master their money. Mark is passionate about making complex financial topics simple. His down-to-earth explanations empower readers to take control of their finances with confidence. Mark specializes in creating tailored money strategies and providing unmatched personal support. When he's not coaching clients or penning his latest article, you can find Mark enjoying nature and time with family.

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