This article is about how to save money for the future. A few of these tips may seem obvious, but others will be more surprising. There are many ways you can save money with just a little effort on your part and some discipline in your spending habits.
“Extreme frugality 2021” is a blog that provides 80 frugal tips to save money. The blog was created in 2011 and has been updated every year since then.
Frugality’s manliness cannot be exaggerated. The male traits of independence, self-reliance, self-sufficiency, simplicity, and minimalism are cultivated via frugality. It liberates a guy from the shackles of debt and provides him with a feeling of male pride and joy. Frugality strengthens a man’s resistance to the allure of “things,” teaches him to make do with less, and brings joy and happiness into his life by allowing him to practice delayed gratification. Frugality also encourages a man’s DIY mentality and encourages him to produce rather than consume.
We could go on and on about how frugality is manly, but let’s get down to business: how can a guy become frugal? Some guys, motivated to join the frugality bandwagon, take dramatic measures to change their lives from the inside out. But, ultimately, this guy chafes under the harsh restraints he has imposed on himself, burns out on the program, and goes on a shopping binge to make up for the months of tight control. No, the preferable way is to make little improvements in many aspects of your life. You’ll be astonished at how quickly these minor adjustments pile up, leaving you with additional cash in your wallet and in the bank. You may also be shocked to learn how much fun it is to be frugal–really! It becomes a game in which you are always attempting to find new methods to save money.
We’ve compiled a list of 80 practical–and frequently painless–methods for saving money. Whether you’re wanting to pay off debt, live more simply, develop an emergency fund, or just discover methods to fill the hole in your budget left by increased gas costs, there are certain to be a few ideas here that you can put into practice right immediately. I urge that you read over these ideas, make a list of 10 additional things you can do, and put them into practice once the new month starts.
Debt relief is on the way!
1. You must change your own oil.
2. Rotate your tires at least once a year. Tires aren’t cheap. Rotate them on a regular basis to extend their life.
3. Purchase a used vehicle. Also, make sure you know how to bargain for one.
4. Share an automobile with your wife if you’re married and don’t have children. Since we’ve been married, Kate and I have only had one automobile. Yes, it might be inconvenient to organize our schedules at times, but generally, the experience has been positive and has been our routine. We’ve saved money on gas, maintenance, and insurance, plus the journeys together have given us time to converse and catch up.
5. Rather than paying vehicle insurance every six months, pay it once a year. If you do this, you’ll generally get a good discount. Maintaining a clean driving record, looking about for the best deal, and remaining with the same insurance carrier for a long length of time are all strategies to save money on vehicle insurance.
6. Take a carpool. Dagwood is the one who does it. You, too, can do it.
7. Maintain correct tire inflation. Properly inflated tires not only save you money on petrol, but they also reduce tire wear and enhance the handling and safety of your vehicle.
8. Change your car’s air filter on a regular basis. It’s a simple auto maintenance task that you can do yourself, and it may help you save money on petrol.
9. Experiment with hypermiling. Hypermiling is the practice of maximizing your fuel economy by using particular driving methods. You cruise down slopes in neutral and switch off your automobile at a stop signal, for example.
10. Don’t go too fast. When you do this, you burn more petrol and run the danger of receiving an expensive citation.
11. Arrange for excursions with friends and family. This is how Kate and I were able to travel on holidays when we were impoverished college students. We’d see Kate’s folks in Orlando or visit Uncle Buzz in Vermont.
12. When booking a hotel room, always haggle. Hotel rooms are like perishable food: if they aren’t utilized on the same day, they are thrown away. By just asking, you can nearly always receive a better bargain. When Kate and I are traveling by automobile and are ready to call it a day, we’ll search for nearby hotels on our phone as we approach the town we’ll be driving into and inquire about their pricing. Then we’ll start a bidding war among the hotels: “Is that the very best price you can offer?” A room at La Quinta costs $45 per night. Is there any way you can get lower?” Using this strategy, we were able to reduce the cost of one hotel night from $125 to $40. Boom.
13. Bring your own food when flying.
14. Don’t bother with automobile rental insurance. Check your own auto insurance policy to check whether it also covers rental automobiles. Many of them do. In addition, the credit card you used to rent the automobile is likely to have rental insurance. (Find out how to hire a vehicle while experiencing an aneurism.)
15. Travel during the off-season. Although it may be difficult if you have school-aged children, you may save money on hotel rooms and flights by traveling during the off-season and scheduling your vacation during the middle of the week rather than the weekend.
Camp is number sixteen. Last week, Kate and I went camping. The camping fee was just $10, and the food and supplies were only $20. But it felt like a real vacation. We felt utterly rejuvenated after only a day and a night in the great outdoors.
Grooming and dressing
17. Use a safety razor to shave. There will be no more $20 multi-blade razors.
18. Better better, use a straight razor to shave. For the rest of your life, you won’t have to purchase razors!
19. Last but not least, grow a beard. There were no razors or shaving cream.
20. Keep your safety razors dry and stropping them on your arm can help them last longer. Imperfections in your blade are the cause of dull blades. Corrosion of your blades is caused by water, which results in flaws. So make sure your blades are dry. However, a clever little technique for sharpening those blades is to hone your disposable razors as you would a straight razor. If you don’t have a leather strop, use your forearm instead. For around 10 strokes, rub your razor across your forearm in the non-cutting direction. The disposable razor has been stropped and is ready to use.
21. Care for your dress shirts by washing and ironing them yourself. Even if your neighborhood dry cleaner costs $1 per shirt, if you wear 20 shirts every month, you’ll spend $240 per year. If you’re spending anything around $4 to $6 each shirt, this figure may soon reach $1000. This simple task takes just 15 minutes every week to accomplish.
22. Rather of purchasing a new wardrobe, have your present clothes adjusted whenever you lose or gain weight.
23. Shop at a thrift shop for your clothes.
24. You should cut your own hair. I’m a great fan of the barbershop, however these days, most barbers charge $15-$25 for a haircut. Going to the barber is well worth the expense, in my opinion, since you receive a wonderful haircut, a terrific experience, and the chance to participate in a macho ritual. Give yourself a buzz cut if you truly want to tighten the belt.
Fitness and Health
25. Create a DIY Gym instead of paying for a gym membership. Rekindle your love for the garage/basement weight set.
Exercises that you can do with your own body weight are number 26. Take a look at our list of 35+ different push-up workouts. We also offer a burpee routine guide, a pull-up routine guide, and an old-school strongman’s morning bodyweight program.
27. Insurance with a high deductible and a health savings account. If you and your family are in good health, you may want to explore switching to a high-deductible insurance plan and establishing a health savings account at the same time. While you may have to pay more out of cash before coverage begins, the monthly cost will be far lower than with traditional policies. The health savings account you create in conjunction with your high deductible plan enables you to put money away tax-free for medical costs exclusively. Co-pays, deductible charges, and prescriptions are all paid using money from your health savings account. A high deductible plan’s reduced premiums combined with an HSA’s tax benefits may result in significant health insurance savings.
28. Ask your physicians for samples. Most doctors would gladly fill a bag with a variety of drug samples for you.
29. Look for yourself. The healthier you are, the less likely you are to see the doctor and spend money on prescription drugs. Staying healthy and lowering medical bills may be as easy as exercising and eating well. Also, keep your teeth in good shape. Fillings and root canals are among the most expensive dental procedures. Invest three minutes of your day, morning and night, to brushing and flossing your teeth.
30. Don’t smoke. A box of cigarettes was selling for $20+ the last time I looked. You’ll save money on health bills in the long term, in addition to the money you save by not purchasing a carton every week.
31. Make a shopping list. According to studies, when you shop with a list, you spend less than if you don’t, since it helps you focus on just buying what you need.
32. Pack your lunch in a brown bag. It’s not only less expensive, but it’s also typically healthier than eating at a restaurant.
33. Reduce your reliance on packaged and convenience foods and learn to prepare inexpensive meals on your own. Pasta. Beans. Consume them.
34. Prepare foods that can be eaten with leftovers. Casseroles and slow cookers are your greatest friends in this situation.
35. Brew your own cup of coffee. It’s time to call it quits with your favorite barista.
36. Increase your water intake. Water is both free and beneficial to your health. Drink it instead of flavored drinks, which are expensive and add to your girth.
37. Limit eating out to one or two times each week. When you do go out, cut America’s huge servings in half and save money by using a coupon.
Grow your own veggies (number 38). We can’t do that right now since we live in an apartment, but it’s something we’d want to do in the future. A buddy of mine has had great luck producing his own veggies. He thinks it makes him feel like a homesteader since he saves money.
39. Purchase store-brand items. Here’s a little-known truth that brand-name corporations don’t want you to know: generic brands are occasionally created in the same facility as brand-name products, with a different label. This isn’t always the case, because the generic is really of worse quality. So just try a few things and see what works.
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40. Develop a weekly meal plan. I don’t know about you, but when Kate and I don’t have a menu planned out and are asked, “What are we going to eat tonight?” it’s quite simple to answer, “Let’s go out.” A weekly plan may help you cut down on the number of times you eat out, saving you money on high-priced restaurant meals.
41. Disconnect the cord. Goodbye, Snooki.
42. Board games and similar activities. Boggle. Boggle is one of my favorite games.
43. Movies in the matinée and for a dollar. The experience of a movie theater without the movie theater costs. And, in the case of matinees, without the obnoxious adolescent audience.
44. Use your local college or institution to your advantage. Free cultural events and lectures are often held at colleges and are available to the general public.
45. Borrow and trade with your buddies. Instead of going out and purchasing tools or other goods for a project around the home, ask your friends or neighbors if they have them and if you can borrow them. This may be done with books, CDs, movies, and video games as well.
46. Check out a book from the library. Kate and I are library aficionados. We utilize it not just to get free books, but also to get current CDs and DVDs. If you haven’t visited the library in a while, you owe it to yourself to do so. With the Tulsa library system, you may seek for a book online and have it delivered to the library nearest to you, regardless of where it is located in the city. You go into the library down the road a few days later, and the books, CDs, and DVDs you’ve been looking for are waiting for you on the reserve shelf. It’s very magical.
47. Use the internet to feed your thoughts. You don’t have to go to the public library to receive free mind-expanding resources. You can find enough free brain food on the internet to keep you engaged from here until eternity, from university lectures from the country’s greatest academics to captivating TED speeches to classic literature in the public domain.
48. Be on the lookout for subscription services. If you’re not cautious, Netflix, magazine, and internet subscriptions may quickly pile up. Conduct a subscription audit to see if you use the service often enough to justify the cost and whether you can locate free alternatives to your present membership. Did I say anything about the library?
49. Reconsider your pastimes. Some hobbies are quite expensive. Consider the case of a gunshot. I’ve started getting into marksmanship and like coming to the range with my Colt Python.357 to fire a few rounds. However, one aspect of range shooting that startled me was the expense of ammunition. What the hell is going on here? So I’m looking for methods to save costs when it comes to gun shooting, such as practicing dry firing at home. Find methods to make your activity less expensive if it is currently costing you a lot of money. If you can’t accomplish that, you may want to consider canceling it and finding a cheaper alternative, at least until your cash flow improves. Don’t know what to do in its place? Take a look at our list of macho pastimes.
50. For all of your computer requirements, use free tools and applications. It’s surprising how many fully free applications are available these days. Instead of paying for Microsoft Office, you may use OpenOffice or Google Docs for free. Wikipedia provides a long list of entirely free open source software. Before you pay money, investigate whether there’s a free version of what you’re searching for.
51. Instead of purchasing new ink cartridges, refill them.
52. Use the draft mode to print. It makes use of less ink.
53. Keep the old cords when you acquire new PCs or printers. You never know when you’ll need them.
54. Purchase a reconditioned item. If you need a new computer, examine the website of the firm from whom you want to purchase to see if they offer any reconditioned equipment. I know a number of Apple aficionados who can’t afford (or don’t want) to purchase new Apple items, so they buy a lightly used version of the item they desire.
55. Clean the coils on the rear of your refrigerator on a regular basis. A coil that is clean consumes less energy.
56. Keep your freezer stocked with food. It takes more energy to keep a freezer cool when it is empty. Fill milk jugs with water and place them in your freezer to take up space if you don’t have anything else to put in there.
57. Put an end to the electrical phantom. When you leave a gadget connected into a power socket, it continues to consume a little quantity of energy on a continuous basis. Your power cost may suffer as a result of all those plugged-in equipment.
Seal any energy leaks. Your heater and air conditioner will have to work more to maintain the temperature of your home if you have energy leaks in your home. And the more money you have to spend, the harder your central heating and cooling systems have to work. Spend the weekend tracking down and plugging any energy leaks.
59. Get rid of your land line if you have a mobile phone.
60. Put on a sweater or open a window to get some fresh air. Heaters and air conditioners both use a significant amount of energy to keep your home warm or cold. Put on a sweatshirt before turning up the heat if you’re feeling cold. Open a window if you’re feeling hot. You’ll also feel a lot better when you’re outside in the fresh air.
61. Shut the lights off. It’s hardly a significant contribution, but every little bit helps. Take your mother’s counsel. When you leave a room, turn off the lights.
62. Use CFLs or LEDs instead of incandescent lamps. This is a proposal that I reluctantly include. CFLs and LEDs give out a light that I don’t like. It’s sterile and makes me feel like I’m in a hospital. Any day, I’ll take the warm light of an incandescent lamp. But I can’t dispute that CFLs and LEDs save electricity. They are somewhat more expensive than ordinary bulbs, but they last up to 10 times longer and consume up to 75% less energy than incandescent lights.
63. Plant trees that provide shade. “Trees correctly planted around buildings may cut air conditioning demands by 30% and save 20 — 50% in energy required for heating,” according to the US Forest Service. Plant some trees on the side of the home that receives the most light if possible.
64. To save water, install aerating, low-flow faucets and shower heads.
65. Reduce the temperature at which the water is heated. You may save between 3% and 5% for every 10 degree drop in water temperature. For most households, 120 degrees is usually hot enough.
66. Wrap an insulator over your water heater to keep it warm. If your water heater requires it, use a water heater insulator to protect it. That one adjustment may save you anywhere from 4% to 9% on your water heating bills.
67. Prepare your house for the winter. Winterizing your house makes it more energy efficient, allowing you to keep your family warm and toasty without breaking the bank on energy costs during the winter months.
Make your own presents (number 68). Make a hidden book safe, brew some beer, or build a birdhouse. Make use of your creativity and your handiwork.
69. Instead of purchasing things, offer to provide a service, such as mowing someone’s yard once a week for the whole summer. You may even make a coupon book for someone like your wife, with coupons like “one free back massage” valid.
Many more inexpensive and free gift ideas for men, women, and children may be found at flylady.com.
70. Invest in quality. We sometimes get chastised for endorsing high-end items like Saddleback bags. Isn’t spending so much money contradictory with being frugal? Actually, no. It’s not about being inexpensive when it comes to frugality. It’s all about getting the most bang for your buck, which often means spending more to save more. It’s crucial to consider things in terms of cost-per-use rather than overall cost. Let’s assume you spend $50 on a pair of cheap boots that aren’t especially comfy or attractive, and you only wear them when you have to, which is once a week, until they wear out in three years. The “cheap” boots’ cost-per-wear is consequently 32 cents. Let’s assume you spend $350 on a pair of high-end, well-crafted boots. They’re quite attractive, and you wear them four times a week. They’ll also last you 50 years (with maybe a re-soling here and there). The “expensive” boots have a 3 cent cost every wear. Three cents! So, which is the most cost-effective option? This is a reality your grandfather was well aware of, which is why he had items to hand down to you.
71. Use it up, wear it out, make do with it, or live without it. It’s a philosophy your grandparents followed to get through the Great Depression, and it still holds true today. Trying to make my things endure as long as possible gives me a lot of pleasure. Especially when it comes to clothing. Pants that rip at the seam? Re-sew them together. T-shirts that are too worn-in to be worn in public? Make dust rags out of them.
72. Encourage a do-it-yourself attitude. Before you spend money on paying someone to do a task for you, examine whether you can complete it yourself. When cash is limited, you can always rely on your other asset: your time. Not only will doing things yourself save you money, but it will also give you a sense of accomplishment and pride. Of course, use caution while following this advise. Hire someone to perform it if it seems to be a task you can’t do or if doing it wrong would cost you extra money to rectify.
73. Take charge of your own destiny. Social pressure is a major motivator for individuals to spend money. Allowing others to control how you live your life or spend your money is not a good idea.
74. Do some research on personal money. Knowledge is a powerful tool. I follow a number of personal finance blogs. Many of them provide money-saving and frugality advice. What are my two favorites? Become Rich Slowly and The Simple Dollar are two books that might help you get rich slowly. I also suggest borrowing these books from the library: Joe Dominguez and Vicki Robin’s Your Money or Your Life and Dave Ramsey’s The Total Money Makeover are two books worth reading.
75. Make large purchases subject to a 30-day waiting period. If you find something you just must have, put it on your “I’ll purchase this in one month” list before handing over your credit card. If you still believe purchasing the item is worthwhile after a month, go ahead and purchase it. After a month, I’ve found that you frequently realize you don’t need it, so you save the money you would have spent. Score! And even if you do wind up obtaining it a month later, the power of delayed gratification makes the transaction more delightful than if you purchased it right away. Score!
76. Pay with cash. When I utilize cash for the majority of my purchases, I find that I spend less. There’s something about the tangibility of cash vs debit cards that makes parting with your money seem more painful. We employed the envelope budget technique while Kate and I were in full-on debt payback mode.
77. Get in the habit of haggling.
78. Stock up on basics. Purchasing in bulk lowers the cost per use. If you have products in your home that you use often, purchase large amounts of them. Diapers, baby wipes, garbage bags, paper towels, and soap are just a few examples.
79. Don’t sign up for your bank’s overdraft protection. At first glance, overdraft protection seems to be a fantastic idea: if you use your debit card to make a purchase and don’t have enough money in your account to complete the transaction, the bank will “loan” you the money…and charge you a $25-$35 fee for their charity. But it’s a little amount to pay to prevent humiliation or trouble if your card is denied. And these costs may build up quickly since, as many customers are unaware, most banks will process your bigger transactions first, followed by your smaller purchases. Let’s assume you have $285 in your bank account and spend it on a $3.50 cup of coffee in the morning, a $5 meal at midday, and $300 on college textbooks in the afternoon. The banks will first execute the $300 transaction, draining your account, then charging you another $35 for the coffee and sandwich, as well as $105 in overdraft penalties. Banks used to enroll their clients in overdraft protection schemes automatically, but that was declared unlawful by a court judgment last year. However, since it was a significant moneymaker for banks, they continue to push you to join up. Every time I go online to check my bank account, I receive a pop-up asking if I’m sure I don’t want to sign up for their overdraft protection service. All you have to do is say no, and no, and no, and no, and no, and no, and no, and no
80. Don’t pay any extra fees. Businesses nowadays seem to be nickel and diming customers in whatever way they can. The main perpetrators are banks, airlines, and credit card corporations. Most of these costs may be avoided if you are a responsible and educated customer. Avoid ATM fees by using ATMs inside your bank’s network, and always pay your bills on time. Also, Southwest Airlines! There are no extortionate baggage costs, polite service, or one of the industry’s greatest safety records (recent holes in the plane notwithstanding).
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Extreme frugal living is a lifestyle that focuses on saving money and spending wisely. The 80 frugal tips to save money will help you achieve this goal. Reference: extreme frugal living.
Frequently Asked Questions
What is the 30 day rule for saving money?
A: The 30 day rule is a principle by which some people aim to save money in order to invest it and make more. It can be summarized as Save so that you always have at least 30 days worth of expenses saved before spending.
How can I save money when I am already frugal?
A: Frugality is a virtue, but its not the most lucrative. In order to save money on groceries and other expenses that are necessary for survival, you need to be creative in finding clever ways of getting great deals or using coupons where theyre available.
What are 10 ways to save money?
A: There are many ways to save money and it is difficult for me to list them all here. You could always download a free trial of some sort, such as Netflix or Spotify. Another option would be joining an app that gives you discounts on things like Amazon purchases when used with their app. Lastly, you can set up automated savings through your bank account if they offer this service in the United States (a feature which will soon become more popular).
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