14 Things thrifty people never do with their money
Published 02/18/2021 | Last updated on February 04, 2022
Do you think that saving money means having to deprive yourself of everything? That it is necessary to lower your lifestyle by making sacrifices? Well no! Being thrifty means applying a few simple principles on a daily basis in order to have a happy and frugal life. Do you want to know how to do it, or rather, what not to do?
Find out 14 things frugal people never do with their money. But what is frugality anyway? We will tell you right away: being frugal doesn't mean living in a tent in the middle of the woods with no spending money at all! Being thrifty on a daily basis doesn't mean being stingy either; it even has nothing to do with it! The definition of a frugal person is really about making smart and rational financial decisions. This ranges from simply not going to Starbucks every day, to making sure you don't get into debt buying a house that is too big. And if you think the choices frugal people make are painful, inaccessible, or ridiculous, think again! Life is hard enough as it is, no need to add another layer. Saving money doesn't have to be a daily torment. So living frugally and saving money are by no means incompatible. And this article will convince you!
1. Buying something for no reason
Every day, every dollar spent must be for a specific purpose. Don't let your money control you and make impulse purchases! Instead, it's up to you to control your money! Don't be fooled by the consumer society that pushes you to buy more and more.
2. Window Shopping with Wallet in Pocket
Here's another basic principle to follow when leading a frugal life: Never walk into a mall to do window shopping with your wallet. You can go and find decorative ideas for your interior, but the wallet remains AT HOME! And if you are lacking decoration inspiration, you can even do it from your armchair directly on the web like going to Pinterest, for example.
3. Make impulse purchases
The principle of frugality is simple: 1 expense = 1 concrete objective. You have to get rid of the temptation to run into a flashy object and waste your money. If the purchase is not for something essential, then always wait at least 2 days before proceeding to checkout. Why? Because after this time, very often, we realize that the purchase in question was not essential.
4. Pay someone to do what they can do themselves
Mechanical, DIY, among others, frugal people never pay others to do easy work. How to paint the interior of your home without being a handyman? Have confidence in yourself and look on the Net, there are lots of very well done tutorials.
5. Throw things away without trying to sell them first
If you have an old sofa, TV, or furniture that you want to get rid of, don't throw them in the trash! First, try to sell them on second-hand sites. If that doesn't work, take advantage of garage sales or flea markets to put them on sale. And even if you think it's junk, everything sells! You will always find an interested person who is willing to put a few dollars to buy your old dresser or your old clothes.
6. Pay for an overpriced TV subscription
A cable channel subscription is between $40 and $80 per month! And how do we use it? We barely look at 10% of the programs offered. Such a waste! In addition, platforms like Netflix are more than sufficient if you want to binge series, films, documentaries or cartoons of all kinds. A frugal person is clearly free from this type of expense.
7. Buying bottled water
Buying bottled water is very expensive in the long run and really not necessary. Let's do a little, very simple calculation. The average cost per liter of bottled water is $0.70. If a person consumes 1.5 liters per day, that's almost $260 a year! And we are only talking about 1 person; imagine the cost for a whole family of 4. Instead, invest in a water filter that purifies tap water if the taste of the water is not to your liking. In addition, it is much more ecological, because the pollution generated by plastic bottles is an ecological disaster. And if you need to drink it in the office, pack a reusable bottle.
8. Buying the latest stuff that just came out
Whether it's cell phones, video games or any other tech gadget, do not buy them as soon as they come out. Why? Because the price drops after a few months or even a few weeks; so hold on, because you can save a lot of money. For example, an iPhone is going to cost around 30% less a few months after its release. The wait is worth it, isn't it?
9. Buying something just because it's on sale
You walk into the store and, surprise! a pair of branded jeans has a 50% off. And there, you say to yourself: "what a blessing"; and you rush to buy it, believing it to be the deal of the century. Not to mention that your wardrobe is already well-stocked and that in reality you really do not need to buy these jeans ... You are just attracted by the price, and not by a real need. So it's a waste of money! Next time, don't be fooled and go your way to save money.
10. Throw away leftover meals
Frugal people never waste anything, especially food. They know it's throwing money away. If there is food leftover after a meal, keep it in the fridge for a quick lunch or dinner the next day. And if you don't want to eat the same dish twice in a row, but the food in the freezer. Use Tupperware-type boxes to store food and quickly heat it up in the microwave.
11. Have an Empty Freezer
Frugal people are truly mind-blowing. To save energy, and therefore money, they never leave their freezer ... empty! Yes, yes, you read that correctly; there is no empty space in their freezer. Moreover, they fill it easily since they never waste food leftovers. These leftovers go straight to the freezer. It's convenient (meals are already ready), it reduces waste, and it's totally economical.
12. Buying coffee away from home
Coffee is the perfect example of the small daily expenses that we absolutely do not pay attention to and yet represent a tremendous expenditure of money. Taken 5 times a day at $1.5 on average, this costs a modest amount of $390 over the year! And I'm not even talking about the so-called "fancy" coffee shops at Starbucks which easily cost $5-6. The names of the recipes may make you dream, but it is nothing more or less than coffee; you can make the same recipes at home! It's the same with hot chocolates in the morning.
13. Overpaying Bank Fees
Frugal people are outstanding accountants. Their account is managed to the nearest cent. They pay their bill on time and never have any banking discrepancies or late fees. Why? Because these are unnecessary expenses that can quickly become very expensive in the long term. The same with bank charges: frugal people know all these tips to reduce them to the strict minimum.
14. Spending time spending money
Time spent with friends, children, and/or spouse is far more important than time spent spending tons of money. Thrifty people know this well! For this reason, they always prefer to do fun, but free activities, rather than going to the amusement park, the cinema or going shopping.
Frugality is ultimately very simple. Reading this article, you have realized that frugal people do nothing impossible. You don't have to wait years and years to see the results of these small, but very important actions. You can start your own frugal lifestyle right away and see the results immediately! It's your turn... Have you tried our 14 tips to spend money wisely?
Let us know in the comments if it worked for you. We can't wait to hear from you! Share it with your friends on Facebook. At El Paisa Multiservices we want to help you with your financial movements. You can contact us if you have questions about our services.
By Ingenuity & Solutions
