Don't Be Cheap, Be Frugal

Lots of people worry about the negative ramifications of being “cheap.” There’s the risk of judgment, missing out on activities, and starting to feel guilty when spending money on necessities. But, there’s a difference between being cheap and being frugal. If you’re someone who is frugal, you are sparing with your money, meaning you only spend it on what you need. Being cheap has the connotation that you won’t spend money on anything, even if you need it.

For many young adults like myself, money is not only a stressor, but a problem. I’m currently working three jobs and an independent business just to make ends meet between student loans, bills, and necessities. Add in trying to live a healthy lifestyle, and any bank account is screwed.

In the past three months, I haven’t had more than $30 to my name, and that’s been really hard. I love shopping, gift giving, and helping out people who need it. Now, I’m the one who needs help. I’m finally starting to get back on my feet, but I need to make some life changes in order to avoid going through this again. I’ve done my research, and found the places where it’s easier to cut back or just avoid spending money on it at all.

Here are some solutions to help you live a more frugal life, because “necessities” aren’t just food and heat, they are things that make your life worth living.

• Thrifting

As a shopaholic, there isn’t a store I’m not willing to go to, and thrift stores are no exception. When people are clearing out their things, that doesn’t mean they’re getting rid of all of their crap. I’ve donated some really nice clothing pieces and household items to my local Goodwill because I didn’t want it in my house anymore. You can find name brand, designer, and really good quality clothes and accessories there, so if you have the urge to shop, hit them up instead of a mall or boutique. Thrifting is also a great place to look when you’re trying to find something specific that you need for your home. Don’t spend $30 on a piece of dishware that you need for only a few occasions. Grab one at Goodwill, and donate it back if you don’t need it anymore.

• Meal Prep

For my little apartment family, having a lot of food is something that is a necessity. We’re constantly snacking, cooking, or craving something. Because of this, grocery bills can get high. To combat this, we’ve started meal-prepping on Saturdays and shopping on Sundays. Our version of meal prep is coming up with seven dinner ideas that use the food we have, with a few extra ingredients. Everyone has to like the meal, and somebody has to agree to cook it. We write it all down on a weekly calendar and use the missing ingredients as our shopping list. This way, we’re not just buying things because they look good on the shelves. This has brought our total amount down significantly, and we’re eating healthier because of it. By the time Sunday rolls around, the house is almost empty of food, so we’re forced to not let food go to waste anymore. It’s an ideal system that only takes a few minutes out of your day, and saves you a ton of money.

• No Gym Membership

Paying for a gym membership is not necessary for the frugal young adult, because there are so many alternatives. Many colleges and businesses have built-in gyms that are free to use for students and employees. If you don’t have access to one though, go to a thrift store and spend a few dollars on a yoga mat, some weights, and any other supplies you see there that you’d use. Create a small area in your house that’s designated for working out. I prefer to watch Netflix while I ride the exercise bike I got for Christmas years ago because it keeps me focused on something other than the hard work I’m doing. Equipment isn’t even necessary because Pinterest has loads of ideas for workouts just using what you have. You will be working out the same muscles, saving time on travel, and money on gas and overpriced memberships.

• Don’t Buy Until It’s Gone

This is a philosophy that I had to start using early on in my stage of debt. I would go to bookstores and have a stack ready to buy, but then feel guilty about it because I had dozens of books at home that I hadn’t even considered reading yet. So, no more buying books until I had finished–and gotten rid of–the ones that I already owned. This way, your house will stay clean and uncluttered, and you’ll save some money while you use up the rest of what you own. This can be applied to books, food, beauty supplies, and even clothes when they become worn out.

• Keep the Utilities Down

This is simple and easy. Keep the lights off when they’re not needed, the heat down when you can put on layers and wear blankets, and limit yourself to shorter showers. Not only will these things help your budget, Mother Earth will thank you too.

• Shop Where It’s Cheap

If you live in an area that has multiple grocery stores, start by doing your research on the store apps. Stores like Aldi are going to save you money on fresh fruits and veggies, milk, and non name-brand items. Target has different deals each week for members of Target Circle, as does Tops if you have a Bonus Card. If it takes finding out where you can find better deals and making two different trips, it’s worth it. Try making smaller lists for each store to keep track.

• Sell Things You Don’t Need

Whenever you clean or organize, try to pull out a few items from each area that you can get rid of. More valuable things can be sold in garage sales or online through sites like Facebook Marketplace. Even if you don’t get the full value back, the item will be making you more money than it would if it was shoved in a box somewhere. If you can’t sell items but still don’t need them, try donating or throwing them away.

• Collect Loose Change

Whenever you get coins back from stores or find them on the ground, throw them in a jar to save. You’ll be surprised at how fast it all adds up, and once it gets to a certain point, you can bring it to a local coin machine and get cash for your coins. A quarter of a mason jar full of coins totaled over $16 when I turned it in.

• There is Food at Home

As much as we all hate hearing it, our parents were right when they said that there was food at home. A large portion of our bills come from stocking the fridge and pantry full of food to eat. So, we’re just wasting money when we spend more on convenient food from restaurants. Try and limit yourself to eating out once a week at most, and for every other meal stick to the food you’ve already spent money on. I’ve spent over $100 in a week on four dinners from Uber Eats when that could’ve been spent on two weeks of groceries. Don’t let cravings control your wallet.

Being frugal isn’t the most fun practice in the world, but not having enough money to pay bills is a lot harder of a pill to swallow. These are all little changes that can be made in your life to keep you slightly more financially stable.

If you need a physical reminder of your savings to keep yourself on track, keep a budget log that tracks money coming in and out. Start it a week before you make the changes, and then see the differences immediately. It’s a lot harder to convince yourself that spending $5 on a coffee when you have a machine that makes it at home when you write it down every day.

Having less things and more financial freedom makes life a lot happier.