Being frugal is often considered to be cheap. However, it is not what it means. Instead, living frugally means being careful about spending every penny.  Whether you are living on a low income or you want to achieve a savings goal, frugal money may help you get further. The blog lists many frugal living tips which may help you manage your finances well.

The information provided here is just for motivation and inspirational purposes. It does not constitute expert financial advice. Please consult a specific financial advisor or professional before making any financial decisions.

What is Frugal living?

Frugal living is the art of being conscious of spending every penny. It is about making smart financial decisions about the way you live, eat, shop and spend money.  It is not like penny pinching. It is where you choose the lowest price over everything.

It also implies reluctance to spend money. You cannot live without meeting basic needs. Living frugally simply means being economical and prioritising spending so that you can afford things that matter the most with your present income.

What are the benefits of living frugally?

There are multiple benefits of frugal living in the UK, these are:

·        Help build savings for a big goal like buying a house, a car or paying debts

·        Reduce debt rollovers

·        Help create a buffer against emergency expenses

·        Help one gain financial independence

·        Improves quality of life by improving financial and mental well-being.

However, before adopting a frugal lifestyle, one struggles to achieve basic needs. It could be paying for the bills or emergency expenses. Not having savings to fall upon makes this more serious. Well, you don’t need to skip important payments. Some conditions, like unemployment or low income, may make you do so.

But you can counter it with everyday loans for people on benefits online. It helps you get instant cash for paying the bill the same day. You just need to provide an unemployment benefit slip as proof of some income. Thus, you may fund your needs hassle-free and avoid late fees on dues.

How to live frugally to dominate finances better?

To live frugally, you would need to change your attitude toward spending and the way you think about money. It is about understanding the difference between the things you want and the ones you need.

It will help you reduce unnecessary expenses. It is about prioritising expenses and spending money accordingly. Here are some tips that may help you live frugally and gain better control over finances:

1)     Choose a smaller house

Just because you can buy a big house does not mean that you need it. Identify your requirements before choosing an abode. If living alone, you don’t need a mansion. Instead, a small setting may suffice. However, it must meet your lifestyle and conditions. It automatically decreases the liabilities and expenses on maintenance and repairs. Moreover, you can save on energy bills by doing so.

2)     Pick a smaller car

Just like the accommodation, a car should accommodate the present needs well. You can achieve that with a cheaper car, too. It eventually may help you save money on refuelling the car, maintenance and engine repairs.

Moreover, the cost of insurance, licensing and tax is also low in that case. Try to keep your car lightweight for better performance and care. Regular servicing prevents costly and primary repairs.

3)     Adopt cheaper ways to cook food

Air fryers are one of the cheapest ways to cook food. It takes minimal time to cook meals, which other appliances cook in 45 to an hour.  For example, using an oven for that much time may increase your energy consumption and contribute to a high bill. Cooking via a fryer is better in that case. It helps you get well-cooked food without much oil in minutes. Eventually, it does not consume more power or watts.

4)     Avoid spending more on clothes

It is one of the no-brainer but important aspects that an individual spends the most on. Generally, instinctual purchases or impulse-based purchases are common in this case. You may not believe this, but it may cost you heavily.

For example, even if you spend £4000 per month just on buying new apparel, it means you spend £24000 in 6 months on just clothing! That’s huge. The saddest part is that you may see this apparel in your wardrobe unused after donning it twice. Thus, buy one only if you need it urgently.  It can help you save thousands!

5)     Swap accessories instead of buying

You may not believe it, but it is a common practice between best friends to do that. If you know that you have a girl bestie with whom you may swap accessories, it is a great blessing. It may help you save hundreds! You cannot buy accessories every time only to see that they are locked in a jewellery box.

Identify whether your friend shares the same jewellery that you are fond of donning. If yes, then you got your perfect match! What could be better than pairing your outfit with new and interesting accessories every time?

You can do this with not just jewels but belts, heels, hats and more! However, if your brand-new heels broke at the last minute and your friend carries the matching duo, you need new ones! It is especially if you are to attend an important event like your brother’s engagement. 

You cannot compromise on heels there. Thus, check out new ones without juggling cash in the wallet. You may get 15-minute loans for bad credit in the UK for your needs. It is ideal for individuals with pending debts and low credit history seeking urgent cash help.  You may grab a new pair of heels immediately if you cannot delay buying them!   

6)     Prefer DIY over an expert’s help ( in some cases)    

You do not need an expert for everything, actually. There are some home aspects that you can counter individually.  For example, lawn pruning, setting up light bulbs, changing curtains, basic electricity repairs, etc. Identify what it may require and get the right kit and tools. Do so only if you are confident enough that you can manage. Otherwise, hire experts.

Bottom line

These are some frugal living tips that you can consider to save money and be confident financially. Adopting these simple ways to live frugally in the UK may promote huge savings.

Moreover, it gives you the confidence of ensuring control over finances. You can plan small and big goals without worrying about the savings, as you will be able to ensure the best savings by cutting unnecessary expenses.