10 Frugal Lifestyle Tips To help you Save Money.

What is frugal living?

Frugality, or frugal living, is the careful management of material resources, especially money. Frugal living is being very intentional with how you spend your money. If done correctly, you'll prioritize spending money on those things that matter and cut back on spending in other areas.

Does frugal mean cheap?

Frugality means something other than trading in your favourite, excellent brands for anything that looks similar and cheap or foregoing your favourite outdoor activities. The best part about this new way of life is that you can create your approach. You decide where you will live stingily and where you will live largely.

Is frugal living beneficial?

A frugal lifestyle will allow you to build more financial freedom as it accelerates the process of achieving your financial goals. This means that every time you spend less money on something, you can put that money towards things that matter to you.?

Practical frugal living tips

As you start to adopt this new lifestyle, it may initially seem challenging. That's okay! Don't be afraid to make some changes along the way. Most importantly, remember that it's not a one-size-fits-all strategy, and the different frugal tips and tricks might not be a walk in the park. Just be consistent and look at the result.?

1. Start by having a budget?

A budget is simply an estimate of income and expenditure for a set period. It incorporates the process of planning and managing your financial activities. These activities revolve around five key areas, namely:

• Income generation,?
• Spending,?
• Saving,?
• Investing, and?
• Protection.?

This process is not fun for many, but creating and sticking to a budget is vital to achieving your financial goals. List down your income and allocate the income to your expenses and savings.

2. Reconsider moving houses

You could always get a cheaper place with the same size house as your current one. The catch is that you will have to make a sacrifice—either a long commute time or reconsidering other things like moving your children to a different school. If you are still single with no family and have the flexibility of working at home, you can consider living farther away and paying a fraction of your current rent expenses. Through this, you can save money and afford that vacation you know you desire.

3. Consider homeschooling or changing schools.

Why take your toddler to a school that costs the equivalent of your salary when you can take them to cheaper ones with the same level of education? Is it for their benefit or your status? Operate within your financial limits; that's all I am trying to say. Homeschooling helps you raise stress-free and healthy children. Generally, most parents are unfamiliar with the notion of homeschooling, many will believe that it entails hiring a standby tutor for their children, but this is different. There are charming, self-paced, accredited programs that you can adopt for your children. Yes, they come with tutors and child-friendly interfaces that help your children achieve international education goals at a fraction of your current price. Always check around and inquire from parents who are practising this lifestyle. Check out our homeschooling post.

4. Meals and cooking

This is one of the most critical aspects of our lives. We can go without money, but not without food. Eating healthy has more benefits for our general well-being, but it comes at a cost. Fresh farm foods are very cheap to get from farmers' markets compared to supermarkets. Identify a local market and source your foods in bulk, and you will be surprised at how much you will save.

If you have a fridge, learn to cook in bulk and store cooked foods divided into daily portions. Not only is it cost-effective, but it also saves you precious time to engage in other crucial activities, like reading about personal financial management. It is also proven to help you stick to your meal budget. Don't complain or criticize; try it and discover.

5. Produce your food

Yes, you can grow your food regardless of where you are. Do you have a balcony or a backyard? Or even a village with a small garden? You can have everything from herbs and spices to potatoes, green maize, and some local chicken and save much money.

6. Buy used

When you have the option to buy something used, do it. Check your local thrift stores and online marketplaces like Facebook groups to find the things you need at a much better price. You can save a significant amount of money by buying lightly used items.

7. Sell items you don't use.

For the items you bought but don't use, you can list them on those online marketplaces and exchange them for cash that can help you offset loans or finance your expenses. These items include toys and things your kids have outgrown and several handbags and shoes you last touched in the last two years. This will also save you some valuable space in your home and assist you in decluttering.

8. Pay down your debt?

Debt is a drain on your resources. Exercising frugality will aid you in breaking free from financial burdens. Make it a goal to pay off your debts once and for all. You will never want to go back into debt after eliminating it.

9. DIY Do it Yourself

Learn to create or repair things with your own hands. YouTube and Pinterest offer ideas and step-by-step tutorials on how to make things. You can learn how to bake and decorate birthday cakes for your loved ones, troubleshoot or install software on your computers, or make and package holiday gifts. This will save you much money and also earn you some respect points!

10. Be the weird one.

Yes, it's okay to operate against society's expectations. Take your leave in January and travel to Mombasa! Not only will the places be less crowded, but it will also be off-season, and the prices will be great. Endeavour to travel during what they call their "off-season," and you will still have a wonderful vacation.

The bottom line

Living frugally doesn't have to be a sacrifice. When you have your money under control, spending on things that matter can be more manageable. Try out a few frugal living tips to find out which works best for you. Make an effort to consider frugality as a way of life, and a means to enjoy what you care about.?