53 Ways You Can Embrace Frugal Living Today

Why Embrace Frugal Living

As someone who’s always been frugal, I can vouch for the benefits of living a frugal life. There are so many! For those who need a little more convincing, here are my top reasons to embrace frugality: - It’s Easier Than Earning More - It’s Powerful - It’s Freeing - It’s Painless - and many more

1. Regularly revisit recurring expenses

Revisit your recurring expenses to see if you can reduce, cut or optimize them. For example: do you still read that magazine? Could you get away with less mobile data? Revisit your expenses annually (at minimum) plus anytime your needs or life situation changes.

2. Shop around and get new quotes

Every year or so, shop around and get two to three new quotes on your recurring expenses. Switching to a competitor or taking advantage of promotions could save you hundreds.

3. Ask for loyalty discounts

Instead of leaving for a competitor, try negotiating with your biller. Call and ask to speak to the retention department. Mention how long you’ve been a customer, then negotiate for a discount or get them to meet (or beat) a competitor’s rate.

4. Pay annually (or all upfront) instead of monthly

Some billers offer a discount to customers who pay their bill once a year or all upfront versus monthly. Insurance, online services, and some medical services often offer this payment option.

5. Pay with a credit card

Maximize your spending by paying with a rewards credit card. Even better—use a card that offers higher-earning categories. (For example, groceries, gas, restaurants.)

6. Pay in cash instead of with a credit card

Often, smaller businesses will offer a discount if you pay in cash or with your debit card. (This tip goes against my previous tip. But in some cases, the savings are greater than any credit card rewards you might earn.)

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