7 practical ways to be frugal

7 practical ways to be frugal

Being frugal is a virtue; being cheap, well – is not. Being frugal is about smart spending as opposed to not spending at all, which is being cheap. Here are some ways you can spend your money wisely to get more mileage out of your household budget, without being a cheapskate.

Avoid ATM fees

Buying things in cash is a great way to save money, because you avoid interest charges and late fees. However, making frequent withdrawals at ATMs that charge fees is really just throwing your money away.

In addition to planning your spending, plan your withdrawals to avoid fees.

Always use coupons/price match

If you are going shopping, make sure that you are armed with your coupons and make a point of researching what’s on sale before you go to the store. If you don’t have a coupon, take advantage of price matching wherever you go.

Know how much things cost

Want to save more money? Know how much things cost so you avoid overpaying for them. This also gives you the ability to spot a deal.

Have meatless meals

You’d be surprised at how much money you can shave off of your grocery budget simply by going meatless once or twice a week. It’s healthier for you too.

Make sure your home is well insulated

It doesn’t matter what season it is, costly warm or cool air will float out your windows and doors if they aren’t properly insulated. Seal any cracks around windows and doors and check the thickness of your insulation.

Don’t pay for convenience foods

You’ll pay a premium for pre-cooked or pre-assembled food. It’s well worth the elbow grease to save this money.

Use appliances sparingly

If you hand wash your dishes a few days a week, rather than running the dishwasher, you’ll save on your bills. Same goes for hanging your laundry to dry instead of using the dryer.