Frugal Living Tips

Help Reduce Debt with These Frugal Living Tips

Frugal Living

Living frugally is a necessity when you are trying to bring your debt under control and must watch each penny you spend.

A successful frugal lifestyle entails making prudent, thoughtful decisions about where and how to spend the least amount of money possible to meet your everyday living needs. 

To live well frugally requires keen awareness of the exact amount of money you have coming in each month and choosing the most efficient way to meet each of your expenses.

Making and maintaining a monthly household budget is key to effective, frugal living. 

It serves as your "scorecard" on how you are spending and how well you are reducing your costs. For budgeting information, click here: How to Budget

Following are frugal living tips that will help you save more and reduce your financial obligations.

  • Cancel your cable or satellite TV subscription. Television is a nice-to-have benefit not a necessity. Take up reading or other acitivities to fill the void.
  • Look for ways to save on your telephone bill. If you have a landline and a cell phone, consider canceling your landline or migrating it to a significantly less expensive internet phone service such as Ooma, Vonage or MagicJack. 
  • If you have an expensive cell phone, sell it for a cheaper model. Contact your carrier to ask about ways to reduce your monthly bill. 
  • If you do not need daily internet service or have an internet phone, use public wifi, if possible, so you can cancel your home internet service. 
  • Take advantage of free medical and dental clinics that are available in your community.
  • Drink water instead of buying sodas. And, use your own refillable water bottle to save even more money.
  • Cancel your gym membership. Exercise at home or take advantage of recreational outlets and jogging paths in neighboring parks.
  • Shop for used merchandise and clothing rather than buy new. Second-hand stores,, and are options to consider.
  • If possible, sell your car. Get around by taking public transportation or buying a bicycle or moped. You’ll save on gas, car insurance, and vehicle upkeep.  If you can't sell your car, try using the above listed transportation methods more often to reduce your expenses. 
  • Turn off lights and electronics when you are not home. In addition, adjust your thermostat to reduce utility costs.
  • Evaluate where you live and see if downsizing is an option to reduce your monthly expenses.
  • Cook at home rather than eating out. Take your lunch to work to save money, as well.
  • Until you are debt-free, curtail your entertainment costs, including movies, nights out with friends, and concerts.
  • Use coupons whenever possible for the items you need. Take advantage of discount shopping days. Buy store brand products that are less expensive, rather than name brands that garner a premium price
  • Stop smoking and drinking. It is costly – financially and from a health perspective. 
  • Eat healthy to stay healthy. You’ll reduce doctor bills and feel better.
  • Evaluate all of the insurance policies you own. This includes automobile, healthcare, and renters/homeowners insurance. Make sure you are paying for only the coverage you need. And, if you haven’t compared policy pricing in the past two years, get new quotes from up to three insurance companies for each policy you own. 

For more information on effective money management and frugal living tips, see the articles below.

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