As well as making a conscious effort for how to save money day-to-day it is also essential to assess the ways that you can live frugally and enjoy your life in the long term.
The best way to increase your income is to earn extra money so that you have money coming in that will help to supplement your primary salary.
There is a wide range of side hustles available in 2019 thanks to the internet. It is beneficial to research the various ways that you can earn some cash on the side and see if you can utilise your skill set.
For example, if you are good with animals, you could look into the possibility of dog walking and advertise your availability, or if you are an eloquent writer you could build a blog or do freelance writing, the possibilities are endless. Having extra income will help to pad out your savings account and give you extra money to spend on big things such as holidays and social occasions.
Memberships & Direct Debits
Instead of paying a personal trainer you could follow exercise routines on YouTube from the comfort of your living room which will allow you to get fit for free and not waste money on a membership that you do not use.
An easy way to skim back on money is to re-assess what unnecessary memberships and direct debits you have coming out of your account each month. A lot of people have gym memberships but are only able to go once or twice a week which is a waste of money.
Instead of pouring money into a gym membership each month you could take up an exercise that doesn’t cost you money such as taking up running around the block or practising yoga at home.
Frugal people are savvy when it comes to where they spend their money on items such as clothing. Reducing the number of clothes that you buy each season will make a difference in your monthly budget.
A good tip is to have a capsule wardrobe for each season which means invest in pieces of clothing that are durable and versatile so that they will last you for months and you will not have to waste money on repeat purchases.
Many high-quality items can be found in second-hand clothing thrift stores that are a fraction of the price that you would spend and pick up on the same item on the high street.
The Christmas period is probably the most expensive period of the year and depending on how much you spend it can have a significant impact on your finances for the year ahead.
So if you are reflecting on how much money you spent on Christmas last year, it can be crucial next time to stagger your Christmas spending throughout the year and write a smaller present list for loved ones.
Gifting experiences can be a cheaper alternative to buying specific gifts and can also more enjoyable for the recipient.
There are multiple ways to save money and as this article has shown it is more than possible to live frugally while still living your life to the max!
Saving cash will in the long term set you up for a better future as you will be in a better financial position to spend money on the things that you want without worrying about wasting it.
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