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12 Frugal Living Tips For Saving Money Today

I grew up in a very money conscious aka “frugal” household out of necessity. My parents would only buy what was needed, and would rarely deviate from this frugal standard.  I appreciate the frugality I learned from living in this budgeted lifestyle, however, times are changing.

There seems to be a new movement happening amongst many people and it is one where people are dedicating themselves to a more minimalistic style of living.  One where they create habits of living frugally on their own accord.  With this has come some great tips for saving money that we can all learn from.

Some people are naturally frugal, while some are frugal out of necessity.  Those who choose the life of frugality honor the engagement and pursue habits to further their path to wealth later in life. Frugal people spend less money and are content with this lifestyle.  They know the top tips for saving money and growing their savings account. 

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Frugality is a constant re-evaluation of your life. It is living a lifestyle where you find creative ways to spend less money.  It’s about finding various ways to save money on a tight budget or finding new ways to save money each month.

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Habits of frugal people for saving money

Top 12 Tips For Saving Money That Frugal People Already Know

1. Frugal people choose financial stability over “stuff”

Frugal people value their personal financial health over material things. They make it a point to prioritize finances before purchasing frivolous items. They are smart about their money and know how to take advantage of saving money challenges.

 Financial wellbeing is a top priority for any frugal person. It is easy for a frugal person to make a decision of not spending and stick to that decision. A frugal person would rather see money in their bank than stuff in their closet. 

Mrs. Frugalwoods and her husband from are pros at frugality they know how to follow the right tips for saving money.  They wrote a great post called “Frugality is a Compounding Game.”  A great tidbit of advice I found from the article is “Money is a compounding game: either it compounds in your favor if you’re saving and investing, or it compounds to your detriment in the case of debt.”

To help with money compounding we like to use Swell to get things rolling in our favor


2. Frugal people are good at comparison shopping

Comparison shopping, whether it’s for a block of cheese or a large renovation project, it is crucial to know where and how you can get the best price.

I always know which store offers the best deal for staples such as milk, cheese, and eggs.  You may find, as I have, that one store has a better deal on a certain item and the store down the road consistently has better pricing on another item. Keep this in mind when you are shopping.   

For projects such as home remodels or outdoor projects we often get price quotes from 3-4 different sources before we actually bite the bullet and pursue the project.  If you have the time it is also useful to do a bit of internet research to make sure your quotes are within reason.  Buying needed items through Ebates has proven to soften the blow on some of our everyday purchases

3. Frugal people don’t eat out often.

Frugal people are really selective about dining out. They are not regular spenders at fancy restaurants. They choose to eat out very infrequently and inexpensively.  

Frugal restaurant goers choose to hit up restaurant happy hours or split a meal with someone. Often times restaurants serve full entrees at affordable prices during their designated happy hour, this is definitely something to inquire about.  If you are dying to eat out check out Cardpool, or for affordable dining options at a discount.


Habits of frugal people for saving money

4. Frugal people have no problem buying used (second-hand).

This is one of my favorite tips for saving money. -Frugal people choose to purchase things second-hand and don’t spend excessive money on material things.  It’s quite tempting to try and convince ourselves that an expensive brand name purse is an actual “investment” however it is NOT!

An investment is something that yields a return into your bank account.

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5. Frugal people have a plan and are aware of all things going on with their money.

Frugal people have a plan and are familiar with creating and abiding by that plan. They know where they’re going. They know why they’re frugal. They know just the right tips for saving money. They know their values and make financial decisions in line with those values.

Frugal people are familiar with budgeting and how to create a budget.  If you are new to budgeting take a moment to read this.  Are you looking for an easy way to track your spending? Personal Capital is a free tool that can help, plus it’ll help you with your retirement and investment accounts too.


6. Frugal people are Pros about keeping special splurges special

We all know how the occasional splurge on a special item here and there can become habitual.  Frugal people recognize that habitually spending on “splurges” takes the special out of the “special”.

It is important to keep special events such as a spa day, and fancy dinners as special events. Don’t begin combining the two because you will end up down a path of incessant spending.

7. Frugal people know how to say “no”

Frugal people know that sometimes they have to say “no” to others and sometimes they have to say “no” to themselves.  Some people feel pressured to spend money they don’t have because they feel it’s easier than having to say no.  Practice being strong and don’t succumb to the pressure.

8. Frugal people avoid being impulse buyers

Frugal people know that impulse buying is a danger zone when trying to save money.  An impulse purchase is buying something that is unplanned.  Impulse purchases aren’t always expensive, sometimes it’s a cheap last-minute item at the cash register.  Practice your willpower in these situations.  A bonus to waiting and practicing your willpower is that you may actually score a great deal or discount later on.

saving money tips frugal people are good at

9. Frugal people pay themselves first

Frugal people know what it means to pay themselves first.  They are familiar with contributing to investments and retirement accounts before spending on unnecessary things. To learn more about paying yourself first or “building a reverse budget” check out this post from written by Lauren Schwahn


10. Frugal people are good at living on less than they make

It sounds so easy, right?  No, it takes practice you need to be your money’s boss.  You have to deliberately make financial choices that will benefit your future. Being frugal is the key to having money left over to invest.  If you are looking to adopt a frugal lifestyle, this is an excellent starting point.

11. Frugal people are good at taking advantage of “stock up” opportunities

Frugal people are good at recognizing sales.  They take advantage of these stock up opportunities to save money on a regular basis. Knowing you are stocked up on quality food items will help you from turning to the drive-thru on busy nights when you don’t want to go to the grocery store. 

12.  Frugal people keep their eyes on the prize!

Life will always have its ups and downs, however, in the midst of them, frugal people don’t lose sight of where they are going.  They make a conscious choice to recognize the peaks and valleys and capitalize on opportunities that present themselves.

Do not become distracted and lose sight of your goals no matter how slowly you are getting there.  You got this!

What are some of your best tips for saving money?  

Please send them our way we would love to hear about them.

frugal living tips

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