Frugal living. Is it for you?

The terms 'frugal' and 'frugal living' have gotten a bad rap lately because people think it means 'missing out'. It is often compared with cheapness or stinginess. Remember Cheap-ass Tuesday? Frugal living means spending money on things you need, not what the advertising people want you to buy. It means living on less money, so you have far less stress. Less stress, less stuff to curate, fewer repairs, fewer replacements, less of everything, including things. In short, it means not wasteful.

The point of all this is to get your living expenses to an easily met level. No worrying about the credit card or power bill on the way. It means having money in the bank because when you have money in the bank, you have options. All kinds of options.

Frugal living can be a great way to save money, reduce debt and achieve financial goals, but frugality should not come at the cost of your happiness. Here are some tips for living frugally without sacrificing happiness:

1. Prioritize your spending: Before you start cutting back on expenses, it's vital to identify what is most important to you. Next, prioritise your spending by determining which expenses bring you the most joy and fulfilment and which can be cut or reduced without affecting your happiness.

2. Create a budget: A budget can help you identify where your money is going, and it can also help you make sure that you're spending your money on things that matter to you. A budget will also help you stay on track with your financial goals.

3. Learn to cook: Eating out can be expensive and not always the healthiest option. Learning to cook at home can save you a lot of money and also be a fun way to spend time with friends and family. If you are single, cook meals for 2 or 3 and freeze the leftovers for a work lunch or a night you don't like cooking. You can eat your frozen meal rather than ordering in.

4. I wouldn't say I like cooking, so I did something else. I bought pre-made meals. Not the cheapest option, but they get eaten, there is no grocery waste at all, and I have freed up my brain space to do something I like doing rather than shopping and cooking.

5. Instead of spending money on expensive movies, concerts, or other events, look for free or low-cost alternatives. For example, go to free outdoor shows or art galleries, explore local libraries or organise game nights with friends.

6. Shop smart: Frugal living doesn't mean you must give up shopping altogether. Learn to shop smart by looking for sales, using coupons, and buying in bulk when it makes sense. Buy the less perfect fruits and vegetables on offer and buy in season rather than buying imported items.

7. Learn to be content with what you have: One of the keys to frugal living is learning to be satisfied with what you have. Instead of constantly wanting more, learn to appreciate what you already have. The cycle of buying, throwing out, buying again, and throwing out, has to stop. It is unsustainable for the earth and your financial well-being.

8. Find ways to save on transportation: Transportation can be one of the most significant expenses, so find ways to save on it. Carpool, bike or walk when possible, and take public transportation when you can. Running a vehicle is incredibly expensive when you add all the associated costs. Could you use a ride service or car share service instead?

9. Take advantage of free resources: There are many free resources available, such as free online classes, free community events, and free museums. Hello - YouTube! You can learn anything on YouTube.

10. Find free or low-cost hobbies: Hobbies can be expensive, but many free or low-cost alternatives exist. For example, reading, hiking, or photography. Other options include singing, online lessons, volunteering and gardening—no need to buy plants. Instead, learn to strike new ones from cuttings and seed collecting.

11. Surround yourself with people who share your values and support your frugal lifestyle. This can include friends and family or even online communities.

12. Make your cleaning supplies: Cleaning supplies can be expensive, but many can be made at home with everyday household items like vinegar and baking soda. Not only will this save you money, but it will also be better for the environment.

13. Take advantage of free trials: Many services, such as streaming services, offer free trials. Take advantage of these trials and cancel the service before you're charged.

14. Get creative with gifts: Make your own instead of buying expensive gifts. Handmade gifts are often more meaningful and can save you money. Homemade candles, soap and preserves are always welcome and easy to make. Photobooks have become relatively cost-effective while being a great personalised gift for a relative. Offer a gift coupon for a few hours to babysit, cut the lawn, or do other chores as your present.

15. Take care of your things: Taking care of the things you own can save you money in the long run. Buy good quality, locally made products (when possible) from sustainable materials. Fix minor problems before they become big, and keeping things clean and well-maintained will save you money.

16. Being mindful of energy consumption, whether turning off lights when you leave a room or unplugging appliances when not in use, can save you money on your energy bills. It will also lower your carbon footprint.

17. Be mindful of your money and where it's going. Keep track of your expenses and ensure you're spending your money on things that matter to you and bring you joy. If that is a coffee a day, so be it. But find the saving somewhere else.

18. Grow your food. Not everyone has the opportunity to have extensive vegetable gardens, but even growing a few fresh herbs, tomatoes, or lemons can add a new dimension to your eating enjoyment.

Living a frugal lifestyle is a great way to save money and achieve financial goals, but it is essential to remember that frugality should not come at the cost of your happiness. You can live frugally without sacrificing happiness by prioritising spending, creating a budget, and finding free or low-cost alternatives. Remember, the key is to find a balance and make smart choices that align with your values and goals.