5 Ways To Be More Frugal On A Daily Basis

how to be frugal on a daily basis

If you’re new to the concept of frugality, it might feel like an impossible task. It might also feel like a long-term commitment during which you’ll only reap the benefits on a long-term basis. Frugality, however, can start very small, at any time — and every dime is going to make a difference. 

Try the following 5 ways to be more frugal on a daily basis. 

1. Try For An Everyday Budget 

Paying with a credit or bank card for everything leaves you open for overspending, especially if you have a hectic lifestyle where you are always on the go, paying for the odd drink, fuel or bite to eat. Setting a budget every day is going to help you to avoid overspending. 

It's a good idea to plan your everyday budget in advance. Then, at the beginning of each day, you can hit the ATM machine and draw out your exact amount so that you know how much you can spend and won’t be reaching for your card. 

2. Save Your Change 

Another reason drawing money out of the machine instead of paying on your card for everything is that it allows you to save that little bit extra. For every bit of spare change that you get, try to save daily in a designated place, whether this is a savings jar or another container at home. Change which is left in your wallet or thrown into the car cup holder will only be wasted or spent for the sake of it. 

3. Compare Prices On Everything 

Price comparison when shopping online is going to help you save money. Don’t just opt for the first price you see, even if the item is exactly what you’re looking for. Even if it’s only a penny cheaper elsewhere, that’s still a saving, and when you have a big purchase with a lot of items, it will all make a difference. 

This is especially important during COVID-19 lockdown, as you can easily compare prices on Coronavirus Essentials so that you’re saving money on your quarantine purchases.

4. Avoid Impulse Buys 

Impulse buys are easily done daily. You might grab a bite to eat from the drive-through or buy a coffee that you didn’t really want. Impulse buys easily add up in price, especially if you’re traveling a lot throughout the day and are presented with lots of different options to spend your money, whether big or small. 

Think ahead about what you need for the day. If you’ve packed your own lunch and essentials, then you can avoid all eye contact with coffee shops, other snacks and more. 

5. Consider What You Have At Home 

While of course it’s okay to treat yourself now and again outside the house, when you’re trying to be more frugal, resisting temptation is crucial. If you’re easily swayed by a coffee sign while you’re out, think about the coffee you already have at home which you can have for free. If you’re tempted by a more luxurious lunch, plan ahead for making your lunch at home with the food you already have. 

Frugality Forever

The same goes for anything during your daily routine. If you always make a habit of popping into stores and impulsively buying a new outfit or the odd item of clothing, stop and think about the clothes and clothing accessories you already have at home and whether you really need to spend more.

New Frugal Finance Blog Posts & Articles