10 Frugal Living Tips To Save thousands of shillings

What is frugal living? Frugality or frugal living?is simply defined as careful management of material resources and especially money. Frugal living is the act of being very intentional with how to spend your money. If done properly, you’ll prioritize spending money on those things that matter and cut back on spending in other areas.

Does frugal mean cheap?

Frugality does not mean trading your favourite nice brands with anything that looks similar and cheap or foregoing your favourite outdoor activities. The best part about this new way of life is that you have the power to create your approach. You decide where you will live stingily and where you will live largely.

Is frugal living beneficial

Frugal life will allow you to build more financial freedom as it accelerates the process of achieving your financial goals. This means every time you choose to 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 seem difficult at first. 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 5 key areas namely:

Income generation,?

Spending,?

Saving,?

Investing, and?

Protection.?

This process is not fun for many, but creating and sticking to your budget is very key to achieving your financial goals. Simply here, 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 of the house as your current one. The catch is you will have to make a sacrifice. Either a long commute time or reconsider other things like moving your children to a different school. If you are still single with no family and the flexibility of working at home, you can consider living farther and paying a fraction of your current rent expenses. Through this, you can save more money and perhaps be able to afford that vacation you know you desire so much.

3. Consider homeschooling or changing schools

Why take your toddler to a school costing your salary equivalent while you can take them to cheap ones with the same level of education? Is it for their benefit or is it for your status? Operate within your financial limits, that’s all I am trying to say. For homeschooling, I know the majority of parents don’t understand the concept. Many will think that this means employing a standby tutor for your children, but no! It isn’t. There are very nice self-paced and accredited programs that you can adopt for your children. Yes, they come with tutors and children friendly interfaces that make your children achieve international education goals at a fraction of the price you are currently paying. Always check around and inquire from parents who are practising this lifestyle. Homeschooling helps you raise stress-free and healthy children. Check out our homeschooling post.

4. meals and cooking

This is one of the most important aspects of our life. We can go without money but not without food. Eating healthy has more benefits to our general well being but it comes at a cost. fresh farm foods are very cheap to get from farmers markets as compared to supermarkets. Identify a local market and be sourcing your foods in bulk from there and you will be surprised how much you will be saving.

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

5. Produce your foods

Yes, you can grow your foods 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 a lot of money.

6. Buy used

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

7. Sell items you don’t use

The items you bought and don’t use you can list on those online marketplaces and exchange them for cash that can help you offset loans or finance your expenses. This will also save you some precious space in your house and help you declutter. These items include toys and things your kids have outgrown, to the several handbags and shoes that you haven’t touched in the last two years.

8. Pay down your debt?

Debt is a drain on your resources. Make it a priority to clear your debts for good. Once you eliminate debt from your life, you will never want to go back. Finding frugal ways to live within your means will allow you to break free from these financial burdens.

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, Learn how to troubleshoot or install software on your computers, Learn how to make and package holiday gifts. This will save you a lot of 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. Make an effort to think of frugality as a way of life, as a means to fully enjoy what you care about in life. When you have your money under control, it can be easier to spend on things that matter. Try out a few frugal living tips at a time to find out which works best for you.?