Think frugality’s not for you? Think again!
For some of us, frugality comes naturally. But for others, frugal living conjures up images of a miserly, meagre existence. No wonder so many tune out when the topic of frugality comes up!
But what if I told you living frugally doesn’t have to be painful or boring? And—what if I also told you it could bring financial peace, security, and even freedom? It’s true. A frugal lifestyle can provide all this and more.
In this article, I’ll share the whys and hows of frugal living. Then, I’ll get you inspired and motivated by sharing my 53 favourite frugal living tips. Ready to start saving? Let’s go!
Why Embrace Frugal Living
I love frugality. (I really do! If you don’t believe me, check out my interview with myself, this post, and this podcast episode.) There are so many benefits to living a frugal life, and I wholeheartedly vouch for all of them.
But for those who aren’t frugal weirdos like me, I get it. If you need more convincing, that’s what this section’s for. Below, I’m sharing some of the top reasons to embrace frugal living. I hope they’ll bring you over to the frugal side!
It’s Easier Than Earning More
Frugality is the simplest, quickest way to improve your finances. When compared with increasing your income, living frugally is far easier. You don’t need special training, knowledge, or tools to save money. Simply pick a tip and get started TODAY!
I think of frugality and saving as low-hanging fruit. Take those easy wins and use them to propel your finances forward.
Underneath the simplicity of frugal living is its incredible power. With a few frugal choices, you could save thousands of dollars every year. Those thousands of dollars could become tens or even hundreds of thousands when saved and invested over time.
Imagine the options and freedom that kind of money could bring to your life. Frugality can help you get there.
Being frugal can play a huge role in helping you reach financial freedom. How? It increases the gap between your income and expenses. This gap is your savings. When invested wisely, your savings are what will get you to financial freedom.
While a decent income also plays a part, you won’t get far if you spend it all. Frugality is the other half of the financial freedom equation. Embracing it can help you reach your goals sooner.
It’s Painless (When Done Right)
Some people think frugality is difficult and takes the fun out of life. They’re just doing it wrong! The truth is, living a frugal life can be completely painless.
The key is to focus on your values. Cut back hard on things you don’t value. Then, enjoy spending on things you do. That’s the secret to frugality without deprivation.
Maybe I’m a money geek, but I find frugality and saving to be incredibly rewarding. Seriously, though—how can you not feel good about slashing an expense in half? Or cutting out a no-longer-needed expense?
Frugal changes like these are undeniably rewarding—both emotionally and financially. If you’re having a hard time embracing frugal living, try focusing on the rewards. That may be what you need to get started.
I honestly find frugal living to be lots of fun. That’s because it’s not ALL about cutting back and saving money. In fact, much of it is about getting creative and learning new skills and ideas.
Also, it often requires connecting with and learning from others. This, too, can bring more fun and enjoyment into your life. All of this just makes frugality even more rewarding.
How to Embrace Frugal Living
So, now you know the whys of frugal living. It’s time to learn how you can start embracing this way of life. It isn’t hard—especially if you break it into manageable steps.
That’s what I’ve done for you in this section. Have a read and get ready to start your frugal living journey!
Get started by learning about the many ways to save money through frugality. To give you some ideas, I’ve listed my 53 best frugal tips in the next section. If that’s not enough, I share even more resources in FI School Lesson 2: Frugality and saving.
Try to be thoughtful when choosing your initial money-saving tasks. Don’t start with overly difficult or drawn-out ones. This could sap you of motivation and derail the whole process. Instead, select tasks that are relatively easy to accomplish and give you a boost.
Keep Your Values in Mind
When considering frugal ideas, always keep your values in mind. As mentioned, this is the best way to prevent feelings of deprivation. You’ll also gain a greater sense of satisfaction when your frugal decisions are true to your values. In turn, this will motivate you to keep going.
Take on Higher-Value Tasks
Once you tick off some of the easy tasks, it’s time to take on some of the harder ones. They may require more time and effort to complete, but they’ll usually make up for it with bigger savings. Make the leap and go for it—it’ll be worth it!
Tally up the Savings
Keep a running tally of the money you’ve saved. (It might be fun to display your progress using a colouring sheet or wall chart.) This will increase your motivation to continue working through your money-saving tasks.
Make Plans for the Savings
Start making plans to put your savings to work (or enjoy a portion of it)! This can also help to keep your motivation high and feed the virtuous cycle of frugality.
Related: FI School Lesson 7: Investing
Put the Savings to Work
Finally, it’s time to put your newly-gained savings to work. You could pay off debt, deposit it in a high-interest savings account or invest it. As you watch your net worth increase, you’ll further fuel your desire to find even more ways to save money.
Disclosure: This list below includes affiliate links. That means I may receive a commission if you make a purchase through my links. There’s no extra cost to you and it helps to support the blog. Thank you!
53 Ways You Can Embrace Frugal Living Today
Okay, now we’ve got the whys and the hows of frugal living covered. Are you pumped up and ready to start saving? In no particular order, here are my 53 favorite frugal living tips to help you save money and spend less. (And maybe even reach FIRE—financial independence, retire early!)
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.
Related: Learn we optimize our expenses in How Much Does it Cost to Live the FIRE Life in Vancouver?
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. (I know this tip goes against my previous tip! But in some cases, the savings are greater than any credit card rewards you might earn.)
7. Register for refer-a-friend programs
Many billers and banks offer refer-a-friend programs where you and/or your referred friend receive a bonus. Sometimes, the referral bonuses can be quite lucrative, so always check to see if your biller or bank offers them!
Related: Check out the many bonuses you may be able to access by using my referral links!
8. Skip extended warranties
Resist the alluring sales pitches to buy extended warranties. They’re rarely worth it. Since you’re now a frugality expert, you should be saving enough to cover any issues that arise.
9. Raise your deductibles
This is an easy way to potentially save hundreds on your insurance. Raise your deductibles as high as you can afford. Your coverage will remain the same, but your policy premiums won’t—they’ll be much cheaper!
Related: In my April to June 2021 update, I discussed my decision to stick with high deductibles
10. Fine-tune your coverage
Thoroughly read the details of your insurance policies. Are you paying for coverage you don’t need? For example, jewelry and fine collectibles on your home insurance; rental car coverage on your car insurance. Remove unnecessary coverage and enjoy the savings!
Tip: if you’re looking for fully-customizable home insurance, I use and recommend Square One Insurance. Bonus: if you use my link, you’ll receive a $25 credit!
11. Ask about discounts
Most insurance companies offer senior, group, corporate, alumni, or profession-specific discounts. These discounts are sometimes not publicly shared, so you may need to ask to access them.
12. Use an insurance broker
When purchasing insurance or applying for a mortgage, you’ll often do better by working with a broker. Brokers can access quotes from multiple companies. That means they can often find you a better rate than you’d be able to find yourself.
13. Ditch bank accounts with fees
So many banks now offer fee-free accounts. There’s no longer any reason to use accounts with fees or minimum balance requirements. You can also do even better than that! Try to find a no-fee account that pays you high interest and functions as a checking account.
Tip: for this, I highly recommend my favourite bank account—the EQ Bank Savings Plus Account.
14. Understand your account fees
Keep in mind that fee-free bank or investment accounts may still have hidden charges. You could incur them if you’re not aware. Be sure to understand any potential fees and how to avoid them.
15. Request a fee waiver
Even the best of us make mistakes! Call your bank or brokerage to plead your case if you slip up and are charged an account or transaction fee. Often, they’ll offer a one-time fee waiver. It’ll cost you a mild scolding and a promise not to do it again—but it’s worth it!
16. Invest in low-cost index funds or ETFs
Consider investing your money in index funds or ETFs when you’re ready to put your savings to work. They’re effective, easy to use, and the fees are ultra-low. (Tip: check out the resources I’ve listed in FI School Lesson 6: Index Investing to learn more about this style of investing.)
17. House hack
Want to live in your house for free (or close to it)? Try house hacking! Some ideas include: renting out your basement, taking in roommates, or Airbnbing your guest bedrooms. You may also want to consider my family’s house hack of choice—hosting international homestay students.
18. Live in a walkable/bikeable area
Save big on transportation costs by living in an area that’s walkable and/or bikeable. By avoiding the need for a car, you’ll save money, get healthier and help the environment! (Tip: visit walkscore.com to find walk, transit, and bike scores for most cities in the world.)
19. Meal plan
Plan your meals one to two weeks at a time, basing your meals on what’s on sale (see the next tip below). This frugal living skill not only saves you money but time and stress as well. (No more coming home and wondering what’s for dinner!)
Related: I share this tip and more in How to Reach FI on One Income, With Kids, in a High Cost of Living Area
20. Check flyers and shop sales
One of the best ways to save money on groceries is to check flyers and shop sales. Doing so could easily save you thousands every year. (Tip: use flyer apps like Flipp and Reebee to quickly and conveniently find the best deals in your area.)
21. Buy discounted food
This is one of my favorite frugal hacks! Look for services like Flashfood or Imperfect Foods. They sell close-to-expiry, ugly, or overstocked food at heavily discounted prices. We use Flashfood regularly, and it saves us 50% or more on quality, still-tasty groceries.
Related: My Detailed Review of Flashfood and use my referral code, CHRIWAMP for a $5 bonus!
22. Get a freezer
Make the best of sales by stocking up and buying in bulk—then store the excess in your freezer for future use. By doing this, you won’t need to buy groceries at regular prices or wait for sales. You can simply ‘shop’ from your freezer!
23. Reimagine leftovers
Combat food waste and boredom by getting creative and reimagining your leftovers. For example, turn a roast chicken into chicken noodle soup, chicken salad sandwiches, or fried rice. (Tip: look online to find recipes for your leftovers. Often, you’ll discover new dishes that may be even yummier than the original dish!)
24. Clean your fridge
If you notice your food’s spoiling sooner than expected, try this simple fix: clean your fridge. You’ll likely find this fixes the problem. You’ll save your food from an untimely early demise, and save money!
Related: I share this tip and more in How to Save $40 a Month With Three Easy Fridge Hacks
25. Cook pasta (and other noodles) efficiently
Instead of keeping your cooktop on the entire time, try this energy-efficient technique:
- Bring the water to a boil.
- Drop in the pasta.
- Stir the pasta to prevent clumping.
- Bring the water back to a boil, then turn off the heat.
- Put the lid on the pot.
- Let the pasta soak for 10 minutes.
- Try it for doneness.
- If it’s not done, try it every 2–3 minutes until fully cooked.
Note: I learned this cooking technique from The Complete Tightwad Gazette. It’s the bible of frugal living!
26. Start baking during preheating
Did you know that most dishes don’t require a preheated oven to start cooking? Save energy and time by putting your dish into the oven when it’s still cold. During preheating, your food will slowly come up to the right temperature. This, in turn, reduces the overall cooking time and energy use.
27. Use the smallest appliance possible
If a smaller appliance will get the job done, use that instead of a larger one. For example: use the toaster oven instead of the wall oven, the Instant Pot instead of a pot on the stove, the hand mixer instead of the stand mixer. This saves you energy and, in turn, money!
28. Eat out at lunchtime or during happy hour
If you enjoy eating out, you could save big by avoiding the dinnertime timeslot. Many restaurants offer happy hour specials or the same meals at a discount for lunch. As a bonus, you’ll also avoid dinnertime crowds!
29. Share meals
My family can usually fill up on three restaurant dishes between the four of us. A typical restaurant dish costs $20 or more (plus tax and tip). Sharing dishes can add up to significant savings and helps to avoid overeating!
30. Take leftovers home
If you can’t finish your meal, ask to have your leftovers wrapped to take home. Don’t forget to also pack uneaten dipping sauces, side dishes, and bread. They’ll get tossed anyway—why waste delicious food that you spent your hard-earned money on?
31. Use coupons and group deals
Don’t be shy about finding and using coupons and group deals when eating out. They’re a fun and frugal way to try new restaurants (and you could discover a new favorite spot). But don’t forget: being frugal is the goal. Being cheap is not—so make sure you tip on the undiscounted amount!
32. Avoid ordering drinks and desserts
Drinks (alcoholic or not) are often the most marked-up items on restaurant menus. Desserts have a lower markup but are nonetheless costly for what you get. By enjoying your drinks and dessert at home, you’ll not only save on the menu price but also taxes and tips.
33. Shower less often
This may seem weird or gross to some, but it could become the norm if discussed more often! Unless you live in a hot, humid climate, you could very likely shower every other day (or less) without issue. Your skin, wallet, and the planet will thank you for it!
Related: My guest Court discusses this and much more in her interview, How Much Does it Cost to Live the FIRE Life in Cochrane?
34. Wash your laundry less often
Not only can you wash your body less often, but the same goes for your laundry! Clothing, towels, and bedding do not need to be washed after every use. If the item still smells and looks clean, keep wearing or using it until it truly needs a wash. It’s a time, energy, and money-saving win-win all around!
35. Hang dry everything except the smallest items
Save money, energy, and wear and tear on your laundry by hang drying and avoiding the dryer. I realize it can be a pain to hang up many small items. So, reserve your dryer for socks and other tiny items. (Don’t forget to throw your hang-dried towels in the load—see the next tip!)
36. Add dry towels and dryer balls to your dryer loads
To soften your ‘crunchy’ hang-dried towels, pop them in the dryer with your damp laundry. The moisture from the wet laundry will soften the towels. And the towels and dryer balls will speed up drying time and fluff up the rest of your laundry. (It really works!)
37. BYOD (Bring Your Own Device)
Did you know that ‘free’ or discounted cell phones from cellular providers are financed via your phone plan? It’s rarely a good deal, so opt instead to buy your phone elsewhere (preferably used) then BYOD to your carrier. You could easily save hundreds this way.
Tip: you can BYOD to my favourite Canadian cell carrier—Public Mobile. Bonus: if you use my referral code (ZZLLV8) you’ll get a $10 credit!
Related: Read my interview with myself to learn more about why I love Public Mobile (and all the other ways my family saves money).
38. Keep your devices longer
So many of us have fallen into the ‘normal’ routine of upgrading our devices every two to three years. It’s time to stop the madness! For the sake of your wallet (and our planet), resist this cultural norm and hang onto your devices for as long as you can. Four to five years is a more reasonable lifespan for phones (and five or more years for tablets).
39. Buy used
Always shop the used market first! Even like-new items sell for a fraction of their original purchase price. Buying used does require patience and effort, but it usually pays off. This is especially true when you’re done with the item and resell it for the same price or more! It’s essentially like renting items for free (or close to it).
40. Use Camel Camel Camel
If you do a lot of shopping at Amazon, you’ll love Camel Camel Camel. It’s a website that helps you monitor Amazon for price drops on items you’re interested in. When an item you’re watching drops in price, Camel Camel Camel will send you an alert. (Tip: prices can change quickly on Amazon, so jump on it when you get an alert!)
41. Use rebate sites
Sign up for rebate sites like Shopper Army, Rakuten, and Great Canadian Rebates. These sites allow you to earn cash back on your online purchases. Watch for bonus events when you can earn 2x, 4x, or even 10x the normal rebate on your purchases! (Tip: check multiple rebate sites before making purchases. Often, the cashback amount is significantly higher on one site.)
42. Buy discounted gift cards
Discounted gift cards are a great way to save even more at your favorite stores! (You can purchase them in both physical and electronic formats.) Shop for them at websites such as Cardswap, Gift Cards Wild and Raise. Typically, you’ll get bigger discounts on gift cards in larger denominations and for less-popular stores.
43. Stack strategies
For maximum savings, stack every money-saving shopping strategy that’s available to you. Here’s how:
- Pay for your discounted gift cards with a rewards credit card.
- Use a rebate site to earn cash back on your purchase.
- Use a discounted gift card to pay for the purchase.
44. Shop clearance and sale items only
Train yourself to ignore regular-priced items. Instead, head to the sale/clearance section of your favorite store or website. You’ll typically save 25–50% on these items, but the discounts can be even higher. (This blows the typical 5–10% off offers on regular-priced merchandise out of the water!)
45. Find and use promo codes
These are getting harder to find, but it’s always worth a try. Search online for promo, discount, or coupon codes for the stores you shop at. Typically, these coupons will get you free shipping or 10% off your purchase. (Tip: if you’re also using a rebate site, check the terms and conditions. Sometimes, using a coupon will void the cashback offer from your rebate site.)
46. DIY everything you can
One of the best ways to save a lot of money is to DIY everything that you can. Here are some ideas to get you started: cooking, baking, home and car maintenance and repair, renovations, haircuts, pet grooming, vegetable growing. The possibilities are endless! (Tip: YouTube is one of the best, free ways to learn how to DIY just about anything.)
47. Mend and repair your stuff
Mending and repairing things is, sadly, becoming a relic of the past. This is terrible for our wallets and the environment. Thankfully, the right to repair movement is gaining steam. Fight back against disposable culture. Turn mending and repairing into a normal part of your frugal living routine!
48. Maintain your stuff
Maintaining your stuff goes hand-in-hand with the previous tip. Take care of your belongings and regularly maintain them. It will save you money and prevent the need to mend or repair them in the first place. (Tip: set recurring reminders on your phone so you don’t forget to take care of routine maintenance tasks.)
49. Travel as a group
Travel can be very costly. Fortunately, there are lots of ways to save on vacations and trips. Travelling as a group is one of them. Group travel can net you valuable discounts through bulk purchases and shared accommodations, and transportation.
Related: I share this tip and more in How to Reach FI on One Income, With Kids, in a High Cost of Living Area
50. Stay in Airbnbs
This is my family’s favorite form of travel accommodation! Airbnbs are typically more affordable than hotels. Also, there’s usually a kitchen to cook or reheat meals (which saves money on eating out). We also love that Airbnbs are actual homes. This gives us a more authentic travel experience.
51. Embrace slow travel
Slow travel is one of the best ways to make travel more affordable. How? When you slow travel, you can spread out the cost of transportation (e.g., flights, trains, etc.) across many more days. This brings your per-day cost way down. Slow travel also gives you time and flexibility to select slower, more affordable modes of transport.
52. Travel hack
Travel hacking is the process of earning credit card points to pay for your travel expenses. You could end up paying little or nothing for flights, hotels, and other expenses. It’s a fantastic way to turn your regular spending into free or discounted travel!
Related: FI School Lesson 12: Travel Hacking
53. Put your frugal living thinking cap on
This final tip will help you go beyond the tips in this post. Anytime you’re faced with a spending decision, get creative. Ask yourself how you might be able to do it more frugally. Over time, you’ll get better and better at it. (It’s like exercising a muscle—so practice often for best results!)
I hope this post inspired you to embrace frugal living. When you live frugally, you’ll save money and time and lighten your footprint on the Earth. What’s not to love? Take action now by picking one (or a few) tips from this article and get started!
Looking for more frugal living tips?
If you’re ready for even more ideas to save money, I’ve got you covered!
How Much Does it Cost to Live the FIRE Life interview series: I interview FIRE seekers from all over the world and share their actual expenses and best money-saving tips!
How Much Does it Cost to Live the FIRE Life in Vancouver? (As a Family of Four): This is my interview with myself from the above series. I reveal our annual essential spending and even more money-saving tips!
FI School Lesson 2: Frugality and Saving: A curated collection of my favourite frugal living resources.
13 Ways to Reach FI Sooner (Even if You Live in an Expensive City): One of my first and most popular posts, which includes many money-saving tips.
How to Reach FI on One Income, With Kids, in a High Cost of Living Area: Wondering how a single-income family reaches FI? I share all in this post!
It’s the Perfect Time for DIY Haircuts!: This is how my family saves over $1,000 per year on haircuts.
Simple Tips for a Green Christmas: This post will help you save green (money) and go green (for the planet) for the holidays.
My Detailed Flashfood Review (Groceries for 50-70% Off): My favourite way to save big on groceries and save the Earth.
Shopper Army Review: Canada’s Best Rebate Site?: All about my favourite cashback rebate site!
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