Last Updated on
Do you want to save more money while working toward your financial goals?
Frugal living is one of the best ways to accomplish both.
If you’re ready to live a life of frugality, here’s what you need to know.
Living Frugally- Table of Contents:
- Get the Most Out of Every Dollar
- Keep More Money in Your Wallet
- Be Frugal With Returns
- Conduct Research
- Decrease Your Expenses
- Frugal Driving Tips
- Budget Your Way to Frugality
Frugal Living Guide: Start Living Frugally with these 34 Simple Tips
If you’re ready to live a life of frugality, try these 41 frugal ideas to get you started.
Get the Most Out of Every Dollar Spent
Living a frugal lifestyle is also about getting the biggest bang for your buck. You want to get the most out of each dollar you spend.
A great way to do this is to use Cash Back apps. Here are a few apps that can help you live the ultimate frugal life.
1. Effortless Cash Back on Every Purchase ($20 Sign-Up Bonus)
Ibotta is the easiest way to get immediate cash back on the groceries you were already going to buy.
After you download the free Ibotta App, you’re instantly set up to start racking in free money. Simply browse the app for offers that qualify for cash back rewards. Once you purchase a qualifying item, take a photo of your receipt to receive your free money.
You can turn in your Ibotta money for PayPal payments, Gift Cards, or Venmo payments.
We have over $100 in our Ibotta wallet from doing our *normal* grocery shopping trips every week. ^^See Above^^ (And that doesn’t include all of the free Starbucks gift cards we’ve already treated ourselves too.)
Aside from *paying you* to shop for groceries, they also hand out free money for buying apparel, cosmetics, toiletries and more.
2. Stick to Your Frugal Lifestyle by Earning Cash Back on Your Everyday Transactions
The Dosh App is a great tool for helping you live a frugal lifestyle. Simply link your debit or credit card to the Dosh app and start earning up to 10% cash back on your everyday transactions.
With over 1,000 stores and restaurants, you can earn cash back almost everywhere you shop and eat!
Once you start earning Cash Back, you can transfer your funds to your bank accounts, PayPal account , or donate it to charity.
You can also Earn $5 for each friend you refer to Dosh.
3. Earn Up to 40% Cash Back at Over 2,500 Retailers
To achieve true frugal living, you will want to maximize every dollar you spend.
Rakuten (formerly Ebates) is the king of online shopping cash back offers with over 2,500 retailers to choose from. Aside from the 40% cash back they offer, Rakuten’s site also has a hidden trove of coupon codes, free gift offers, deals, and flash sales!
You can receive either a ‘Big Fat Check’ or PayPal payment every quarter for using promo codes and shopping the latest deals and discounts right from your phone.
4. Turn Receipts into Effortless Dollars
If you don’t want to spend the time searching for coupons and discounts, the CoinOut App (as seen on Shark Tank!) can help you find rebates right from your receipts. Just upload your receipts to the CoinOut app and they will automatically send cash your way.
CoinOut is one of the easiest ways to earn cash back on your everyday purchases. (Check out the last PayPal deposit they sent us above ^^)
(4.5. Six Hacks to Save More Money)
Saving money is easy… once you know how to do it. If you’re living without the peace of mind of having lots of money in the bank, then you haven’t learned how to make saving money easy.
Our Free “Savings Account Accelerator” Workshop exercises 6 Money-Saving Hacks that not only teach you *how* to save money, but also how to save money faster than ever before. Don’t change your lifestyle to save money – use this free information to make saving money easy.
5. Earn Cash Back Rewards for Using Your Credit Cards
When used responsibly, credit cards are a great way to earn Cash Back on your everyday transactions. Cash Back credit cards pay back a percentage of what you spend (sometimes more than 5% cash back).
Depending on how you spend money and where you shop, you can earn Miles and Points (fancy talk for Cash Back) and Bonus Membership Perks (e.g. free checked baggage. That’s $50/person/trip!) .
Find the card that REWARDS YOU MOST:
- If you travel at least one time per year, These Travel Credit Cards will save you hundreds every trip.
- If you’re only earning 1% Cash Back on purchase, it’s time to make a switch. Here are the top Reward Credit Cards of 2019 (we use #7).
Be Frugal with Refunds
You may not want to spend your valuable time searching for Deals and Discounts. Fortunately, there are tools and resources you can use that help you discover rebates and refunds on the items you already buy.
Here are a few options to help you get started.
6. Get Money When Prices Drop
Paribus by Capital One monitors prices on your everyday purchases and then gives you refunds when prices drop. All you have to do is connect your account and Paribus will detect potential savings and watch for price drops.
If you want to get refunds on the money you already spend, Paribus is a great solution for frugal living.
Also See: In-Depth Paribus Review
7. Trim Your Subscription Services
According to research conducted by Waterstone Group, 84% of consumers underestimate what they spend on subscription services each month. From Spotify to Netflix, your subscription services can add up.
If you’re unsure how to cut back, try using an app like Trim.
The Trim app makes saving money automatic. By analyzing your spending habits, Trim is able to find recurring subscriptions (you may have forgotten about) and will cancel them for you on the spot.
One of our favorite features is their lowest price negotiation tool!
Are you getting ripped off by your cable or internet provider? Trim will negotiate that bill down for you, AKA saving you tons of money every single month. Trim users have saved over $1,000,000 in the last month alone, but here’s someone that is set up to save $50/month forever thanks to Trim:
“Trim was able to negotiate with my cable company and provide more than $50 in monthly savings from my cable bill; all within the first week!”Daniel H.
Related Post: The Easiest Ways to Lower Your Bills in 2020
8. Get Refunds for Your Bank and Credit Card Fees
Don’t you hate it when the bank charges an unnecessary fee for simply using your own money? Using the Cushion app can help you fight back and negotiate all of those unwanted banking and credit card fees. Cushion’s bot haggles on your behalf and can send you a refund summary within 24-hours.
The best part is, Cushion is 100% Free to use. However, if they eliminate one of your fees, Cushion takes 25% of the refunded amount.
Keep More Money in Your Wallet By Minimizing Food Costs
In 2017, the Bureau of Labor Statistics reported that the average American spent $7,729 annually on food alone. This includes dining in and out. Nutrition doesn’t have to come at such a high price.
There are plenty of ways to cut back on food costs and focus on a more frugal way of living. Here are a few frugal ideas for minimizing your food expenses.
9. Minimize The Cost of Buying Organic
From Paleo diets to a gluten-free way of living, many Americans are taking steps to get healthier by changing the way they eat. Some of these food choices can be more expensive than their processed alternatives.
Using a site like Thrive Market can help you save up to 50% on your favorite organic and non-GMO brands. On top of that, you can have your favorite foods delivered right to your front door.
By becoming a Thrive Market member you also get the chance to earn Free Gifts, Rewards, and sponsor a low-income family’s membership.
10. Get Inspired While Saving Money
If you love tips and tricks for healthy living, you will love Vitacost. With Vitacost, you can receive deals, discounts, recipes, expert tips, and more for living a healthy lifestyle.
You can save on everything from collagen to cleaning products all in one place.
11. Save More by Dining at Home
Eating out can add up. Imagine if you were to eat out every day for lunch and on each outing you spent about $10 per meal. You would end up spending $2,600 a year for just eating out during your lunch hour. If you want to find a more frugal way to live, it may be beneficial to eat most of your meals at home.
Here are a few other ways you can save by dining in.
12. Make a Grocery List
How often do you find yourself browsing the aisles of the grocery store and then purchasing more food than you intended to? If you want to live a frugal lifestyle, it’s important to make a list every time you visit the store. Making a grocery list will help you stay within your budget and onl