The Frugal Living Ultimate Guide for 2022 (143 Tips to Help You Thrive in the Post-Pandemic Economy)
From the pandemic to rising political tensions to the Great Resignation, the last couple of years have been a doozy.
And judging from the economic predictions for 2023, things aren’t likely to improve. In fact, according to the World Bank, the world is rapidly approaching a global recession.
If you are one of many people who took part in the Great Resignation or experienced a huge financial hit during the pandemic, you’re probably more than a little nervous about this forecast of economic gloom and doom.
Embracing frugal living and learning new ways to cut down on spending is the surest bet to surviving the forecasted recession.
After all, when financial and economic gurus are concerned about a recession, a wise decision would be to hunker down and brace for the coming storm, don’t you think?
If you are concerned about what the predictions mean for you and your family in 2023, keep reading to learn more about how frugal living can help you prepare for an uncertain economic terrain and make your financial future a priority.
What is Frugal Living and Why You Should Give it a Try?
Perhaps you’ve been hearing about frugal living a lot lately. It sounds like the latest fad that woketivists are touting, much as they did with urban farms or avocado toast.
But…as much as it might be difficult to admit, they may be on to something this time.
Frugal living is a simple and effective way of getting out of debt, being intentional about your finances, and preparing for any future hiccups.
At first glance, though, it can look a lot like “being cheap.”
Frugal vs. Cheap: What’s the Difference?
The frugal living lifestyle is intentional, empowering, and challenging to get a handle on. But one thing it’s not…it’s not about being cheap.
Like many people, you’ve probably seen those reality shows where seemingly intelligent people go to extreme lengths to save a buck.
Some may dumpster-dive for food other people have thrown away or cook dinner in the dishwasher while washing a load of dishes (these were actual episodes).
If those are the images your mind conjures when you think about frugal living, be at ease. That is not what this lifestyle is about.
Frugal living and cheap living are not the same things.
When you adopt a frugal living lifestyle, you are intentional about how you spend money and buy things that are important to you.
If traveling is important to you, you commit more of your money to that. To save money, you bring a bag lunch to work instead of eating out.
Being cheap is doing questionable things to save a penny. Cheap people focus more on getting the lowest cost, regardless of quality.
To save a penny, they might buy the cheapest car, thinking only of the initial cost and not considering the cost of maintenance and fuel consumption.
How Can I Be More Frugal Now and in 2023: 3 Easy Rules to Follow
If you’ve ever read or watched frugal living blogs or videos, you’ll quickly realize that all the tips or ideas follow three basic rules:
- Seek better value from all purchases
- Reduce, reuse, and recycle all your things
- Put savings first
Applying these three simple rules to your spending or consumption of resources will put you on the path toward reducing your spending and building a more stable financial future.
Little-Known Benefits of Frugal Living
Aside from helping you prepare for the predicted global recession of 2023, there are other benefits to living a frugal lifestyle.
Some of the little-known benefits of frugal living include:
- Improved mental health and more relaxation
By following a frugal lifestyle, you are more likely to have a satisfying life, with fewer things to worry about and improved relationships.
- Increased wealth and extra money in the bank
Frugal living gives you the cushioning you need to ride out a financial crisis. It also helps you stabilize your finances, giving you more freedom for your future.
- Promotes Creativity
When you’re not worried about money or how you will pay your bills, your brain has more time to focus on creative pursuits.
- Eco-Friendly
Many frugal living tips are eco-friendly and help you do your part in taking care of our planet.
- Building Community
A close-knit community gives you an opportunity to swap clothes, toys, or items you or your family no longer need. You can also carpool or attend each other’s garage sales.
Let’s Get Our Savings On: 143 Simple Frugal Living Ideas
Are you ready to get started saving money? Do you want to take control of your financial future?
If you’ve been wracking your brain, wondering “how can I be more frugal in 2022?”
Don’t fret.
Below is a list of 143 simple ideas to get you started on the frugal lifestyle.
The first two tips are a good starting point if the thought of reading through 143 tips feels overwhelming. They’ll point you in the right direction.
- Get rid of everything you don’t need or what you can do without
- Make a budget for the month
Tips for Frugal Living: Stretch your food budget
You probably think your only options for saving money on your food budget are to buy generic brands or use coupons.
Surprise!
The list below will show you many other ways to cut down on your spending on food. See which ones you can start implementing today.
3. Plan your meals a week ahead
4. Cook in bulk
5. Check out coupons
6. Grow your own vegetables or herb garden
7. Cut out expensive coffee
8. Invest in a deep freeze
9. Buy ham and slice it at the grocery store
10. Drink water
11. Stop buying baked treats and become your own baker
12. Learn how to cook and eat from home
13. Go Vegetarian/Vegan a few days a week
14. Eat more vegetables with your meals
15. Save the winter harvest
16. Cook cheap meals
17. Eat whole/healthy food
18. Use a slow cooker or an Instant Pot
19. Buy generic foods
20. Eat what is in the pantry
21. Eat your leftovers
22. Buy items on sale and plan your meals around that
23. Keep old fruit (and freeze them for later)
24. Brown bag lunch
Tips for Frugal Living: Save While You Shop
Shopping is an area where many people struggle.
How many times have you rushed into Target for one thing, only to come out with a shopping cart brimming with stuff you didn’t realize that you needed?
You are not alone in that struggle.
The following are some money-saving tips you can use on your next shopping trip:
25. Create a shopping list and stick to it!
26. Buy a car you can afford
27. Shop around for the best insurance
28. Buy in bulk and skip single-use products
29. Get your hair cut at a cosmetology school
30. Let Amazon be your pharmacy
31. Shop On Craigslist
32. Don’t buy paper products (plates, cups, plastic spoons, etc.)
33. Reuse the mayonnaise jar
34. Shop the Manager’s Special
35. Use Ibotta when you buy groceries
36. Reduce how often you grocery shop
37. Buy generic brand toiletries and multi-purpose cleaning supplies
38. Skip fabric softener and dryer sheets
39. Use Rakuten
40. Use a cash-back credit card
41. Always keep your receipts and return items you haven’t used and don’t need
42. Buy high-quality used clothes
43. Shop clearance racks
44. Ask for price matching
45. Buy discounted gift cards
46. DO NOT shop at convenience stores
47. Plan long-term purchases that will LAST
48. Shop with coupons or when items are on sale
49. Visit the Farmer’s Market
50. Wear hand-me-downs
51. Shop garage sales for old toys
52. Stop buying bottled water
53. Only go shopping when you are full
54. Watch your favorite stores to figure out their sales cycles.
55. Find Deals on Groupon
Tips for Frugal Living: Fun for Free (or Cheap)
Just because you’re embracing the frugal lifestyle doesn’t mean you have to give up on having fun.
You can still have a good time on a budget. Below are some suggestions:
56. Have fun at home: Host game night
57. Visit the library
58. Have date nights at home
59. Travel cheap or go on a staycation
60. Travel during off-peak seasons
61. Sign up for Netflix
62. Try Hulu
63. Try Amazon Prime
64. Look for free ways to have fun (ex. free festivals or concerts in the park)
65. Use credit card rewards to fund fun activities
66. Go camping
67. Check out high school or college sporting events or plays
68. Try the early bird specials
69. Never gamble your money away
70. Share a meal when you eat out
71. Switch to cheaper hobbies or activities
Tips for Frugal Living: Save with DIY
Do you love a good DIY project?
If you do, then you’re in luck because when you do it yourself, you can cut down on spending.
The suggestions below will give you a few ideas on where to get started for your next DIY money-saving project!
72. DIY hygiene products, laundry detergent, toiletries, and cleaning supplies
73. DIY Preventive Healthcare — Eat right & exercise
74. Make gifts instead of buying them
75. Repurpose the clothes you already have instead of throwing them out
76. Be your own Handyman by fixing what’s broken yourself (watch YouTube to learn how)
Tips for Frugal Living: A Frugal Home is a Happy Home
The number of different ways you can reduce spending right inside your home might surprise you.
But then again, you might have a pretty good idea if you can’t take two steps without tripping over one of your kids’ toys or seeing their clothes dumped on the floor in their rooms.
You love your family…but taking care of them can feel like a cash guzzler.
If you implement a few of the following tips, those bills that seem to increase daily, as if by magic, may start to reduce.
77. Buy the home you need, not the one you want
78. Install LED bulbs
79. Ditch cable
80. Haggle with the electric company to lower your monthly bill
81. Cancel your gym membership and work out at home
82. Pay your bills on time to avoid late fees
83. Dry your clothes on the clothesline
84. Buy a modem
85. Use vinegar to clean instead of expensive cleaning supplies
86. Get rid of the landline and use a prepaid cell service
87. Buy cheap dishwasher liquid
88. Unplug small appliances when not in use
89. Keep your freezer full
90. Don’t leave the refrigerator/freezer door open
91. Don’t use the oven in the summer
92. Use the oven in the winter
93. Use less water when hand-washing dishes
94. Fill up the dishwasher and let your dishes air dry
95. Keep a well-stocked pantry
96. Use cloth napkins
97. Take military showers
98. Dry your razor
99. Install a low-water toilet
100. Install low-flow showerheads
101. Turn down the water heater
102. Install a timer on the water heater
103. Use the smallest amount of products possible
104. Use a bidet instead of toilet paper
105. Wash clothes with cold water
106. Wash full loads of laundry
107. Keep the lint filter on your dryer clean
108. Insulate your water heater, attic, and any exposed pipes
109. Weatherstrip
110. If you must use a dryer, don’t overdry your clothes
111. Keep lights and fans off when you’re not using them
112. Set the thermostat to comfortable (yet frugal) settings
113. Buy a programmable thermostat
114. Use a space heater
115. Turn off the AC
116. Use surge protectors
117. Set ceiling fans counter-clockwise during the summer
118. Set ceiling fans clockwise during the winter months
119. Turn off the TV when you’re not watching it
120. Keep filters/ducts clean
121. Become a one-car family
122. Carpool
123. Keep your tires inflated
124. Buy the cheapest gas
125. Skip the tolls
126. Sell your car and use public transportation
More Money-Saving Tips!
If you made it this far, you should have more than a few ideas on how to begin your frugal living lifestyle.
But if you’ve caught the money-saving bug and are hungry for more, check out the tips below.
127. Pay off all your debt
128. Refinance your loans
129. Automate your savings and investments
130. Increase your income by:
- Getting a part-time job
- Monetizing your hobbies
- Starting a money-making side hustle
- Renting out your extra space on Airbnb
131. Check bills and credit card statements for overcharges
132. Try a low-buy or no-spend challenge for a week, month, or year
133. Don’t pay for banking
134. Try community classes to educate yourself for free/cheap
135. For large purchases institute a 10–30 day cooling-off period
136. Always pay with cash
137. Review your subscriptions and unsubscribe from what you don’t need
138. Buy smart appliances & other items
139. Set aside an emergency fund
140. Use money-saving apps
141. Save up to 15% on regular purchases through Amazon Subscribe and Save
142. Freeze your credit cards
143. Invest your spare change
How Little Can You Live On?
Many of these tips are easy to implement. You might wonder why you didn’t think of some of them before yourself.
You could have saved yourself from the stress of worrying about your finances and the impending recession.
Luckily, you have time to get used to frugal living before the economic predictions for 2023 come to pass.
You may even be able to get your family on board with it, too. Perhaps turn it into a family project?
If you’re having doubts about how effective this lifestyle is, check out the success story of Sara Wilson, aka BudgetGirl. She used frugal living tips to pay off her college debt of $33,000 over three years, while only earning a $26,000 yearly salary.
Her inspirational story is proof that the benefits of cutting costs down now far outweigh any minor inconveniences.
If Sara can do it, so can you.
FAQS
a. What is a frugal person?
A frugal person is someone who is intentional about their spending. They choose to spend on things that matter to them and save money on things they don’t care about.
b. How can I be frugal for beginners?
For beginners in the frugal lifestyle, the following are three areas where they can start their journey:
- Seek Better Value From All Purchases — Don’t buy cheap items, buy items that provide high quality for the money you’re spending on them.
- Reduce, Reuse, Recycle All Your Things — Don’t just throw away your stuff when you’re done with them. Reuse or recycle them. Also, reduce how much you consume, whether it be electricity or toiletries, or cleaning supplies.
- Put Savings First — After getting your paycheck and before you pay your bills, pay yourself first by putting some money away in a savings account.
c. Can frugal living make you rich?
Frugal living teaches you how to live on less than what you earn. This will help you pay off your debt and build up your savings and investments. Frugal living gives you the tools you need to make better financial decisions, which can ultimately help you build up a nice little nest egg for the future.
