In “20 FRUGAL LIVING TIPS TO LIVE MORE FRUGALLY OR TO SAVE MONEY IN THE COST OF LIVING CRISIS 2023,” Lara Joanna Jarvis provides viewers with 20 practical suggestions on how to save money during the current cost of living crisis. With money worries on many people’s minds, these frugal living habits can help alleviate concerns by being intentional with spending and saving on little things. Lara mentions her other helpful videos on the channel, as well as her Amazon store with recommended products for home, storage, fashion, skincare, cleaning, and travel. She can also be found on Instagram and has a supportive budgeting community on Facebook.
In this engaging video, Lara Joanna Jarvis, a content creator with years of experience making money-saving videos, shares 20 frugal living tips and hacks to help viewers save money and live more frugally. She emphasizes the importance of saving on small expenses to achieve bigger financial goals. Lara covers various topics, including clothes swapping, using reusable containers, making homemade cleaning supplies, finding free local events, canceling subscriptions, using cashback sites, practicing gratitude and mindfulness, learning DIY skills, growing herbs and vegetables, utilizing public transportation, utilizing the local library, planning purchases, repurposing items, using coupons, and cooking meals using leftover ingredients. Viewers are encouraged to share their own frugal living hacks and can find more helpful content on Lara’s channel.
Introduction to Frugal Living
Frugal living is a lifestyle choice that focuses on being intentional with your spending and saving money on the little things. It involves making conscious choices to cut back on unnecessary expenses and find creative ways to save. By adopting frugal living habits, you can not only save money in the short term but also build a strong foundation for financial stability in the long run.
There are numerous benefits to practicing frugal living. Not only does it allow you to save money, but it also helps you prioritize your financial goals and make more intentional decisions about how you spend your hard-earned money. Frugal living can give you a sense of control over your finances and provide peace of mind during times of uncertainty, such as the current cost of living crisis.
Importance of Frugal Living during the Cost of Living Crisis
The cost of living crisis in 2023 has had a significant impact on individuals and families worldwide. Rising prices of essential goods and services, coupled with stagnant wages, have made it increasingly challenging to make ends meet. During such times, frugal living plays a crucial role in mitigating the effects of the crisis and ensuring financial stability.
By adopting frugal living habits, you can reduce your expenses and stretch your budget further. Cutting back on unnecessary expenses allows you to allocate more money towards essential needs, such as housing, food, and healthcare. Frugal living also enables you to build an emergency fund, which acts as a safety net during times of financial hardship.
Frugal living during the cost of living crisis is not about depriving yourself of basic necessities or living a life of scarcity. Rather, it is about making conscious choices to prioritize your needs and find cost-effective solutions. By adopting frugal living habits, you can weather the storm of the cost of living crisis and emerge stronger on the other side.
Tips for Frugal Living
Frugal living is not a one-size-fits-all approach. It involves making personalized choices based on your individual financial situation and goals. However, there are several tips and strategies that can help you on your frugal living journey. These include:
Setting Financial Goals
Before you embark on your frugal living journey, it’s important to define your financial goals. Whether it’s saving for a down payment on a house, paying off debt, or building an emergency fund, having clear goals can motivate and guide your frugal living efforts.
Identifying Areas of Overspending
One of the first steps towards frugal living is identifying areas where you tend to overspend. This could be eating out too often, impulse shopping, or excessive entertainment expenses. By pinpointing these areas, you can make conscious efforts to cut back and redirect your money towards more meaningful goals.
Tracking Expenses and Creating a Budget
Keeping track of your expenses and creating a budget is a fundamental aspect of frugal living. By tracking your spending, you can identify areas where you can make adjustments and find opportunities for saving. Creating a budget helps you allocate your income towards different categories, ensuring that you stay on track with your financial goals.
Clothes Swapping
Clothes swapping is a popular frugal living practice that allows you to refresh your wardrobe without spending money. The concept is simple: gather a group of friends or neighbors and organize a clothes swapping event. Each participant brings clothes they no longer wear or want, and everyone can choose new pieces from the collective selection.
The benefits of clothes swapping are twofold. Not only do you get the opportunity to add new items to your wardrobe without spending money, but you also reduce waste and contribute to a more sustainable fashion industry. Clothes swapping promotes recycling and reusing, making it an environmentally friendly alternative to fast fashion.
To organize a successful clothes swapping event, start by inviting friends and neighbors who are interested in participating. Set some ground rules, such as the number of items each person can bring and any specific clothing categories (e.g., women’s, men’s, children’s) you want to focus on. Arrange a date and location for the event, ensuring that there is ample space for everyone to browse and try on clothes. Encourage participants to bring clean, gently used items, and create a fun and inclusive atmosphere for everyone to enjoy.
To make the most of clothes swapping, keep a few tips in mind. First, be open-minded and willing to try new styles or sizes. You might discover hidden gems that you wouldn’t have considered otherwise. Second, encourage participants to donate any leftover clothes to local charities or shelters. This ensures that the items find new homes and continue to be used rather than going to waste.
Using Reusable Containers
Using reusable containers is an excellent frugal living tip that not only saves you money but also reduces waste and promotes sustainability. Instead of relying on single-use plastic wrap or disposable containers, opt for reusable alternatives like mason jars, glass containers, or stainless steel lunchboxes.
Reusable containers have numerous advantages. They are more durable than disposable options, saving you money in the long run by not needing to frequently repurchase them. They are also better for the environment since they produce less waste. Additionally, reusable containers are often more versatile, as they can be used for storing food, organizing small items, or even as drinking glasses.
To incorporate reusable containers into your daily life, start by investing in a set of high-quality, versatile containers that suit your needs. Opt for glass or stainless steel options, as these are more durable and resistant to staining and odor retention. Use these containers for storing leftovers, packing lunches, or organizing pantry items. Get creative with how you use them, and you’ll soon find that you rely less on disposable alternatives.
Homemade Cleaning Supplies
Making your own cleaning supplies is not only a frugal living strategy but also a healthier and more eco-friendly approach to maintaining a clean home. Many store-bought cleaning products contain harsh chemicals and come in single-use plastic packaging, both of which can be detrimental to your health and the environment. By making your own cleaning supplies using simple ingredients like vinegar, baking soda, and essential oils, you can save money and create a safer cleaning routine.
The benefits of homemade cleaning supplies go beyond cost savings. Vinegar, for example, is an effective natural disinfectant and cleanser. Baking soda is a versatile ingredient that can be used for scrubbing, deodorizing, and even as a mild abrasive. Essential oils not only add a pleasant scent but also have antibacterial and antiviral properties.
To get started with homemade cleaning supplies, gather the necessary ingredients and containers. Stock up on white vinegar, baking soda, essential oils of your choice, and spray bottles or glass jars for storage. There are numerous recipes available online for various cleaning purposes, such as an all-purpose cleaner, window cleaner, and bathroom scrub. Experiment with different concoctions to find what works best for you and enjoy the benefits of a cleaner home without breaking the bank.
Finding Free Local Events
In the quest for frugal living, finding free local events is a great way to enjoy entertainment and discover new experiences without spending money. Many communities offer a wide range of free events, from concerts and festivals to art exhibitions and workshops. By taking advantage of these opportunities, you can explore your local area, engage with your community, and have fun without straining your budget.
The importance of finding free local events extends beyond the financial aspect. Attending community events can foster a sense of belonging and connection with others. It allows you to discover shared interests, meet new people, and create lasting memories. Additionally, free local events often showcase local talent and businesses, providing an opportunity to support and celebrate your community.
To discover free local events, start by checking online community calendars, social media groups, and local newspapers or magazines. These sources often list upcoming events and provide details on timings, locations, and any specific requirements. Plan your calendar in advance, mark the events that interest you, and ensure you arrive early to secure a good spot or any limited freebies.
When attending free local events, make sure to budget for any incidental expenses, such as transportation or food. Pack snacks or a picnic to save on dining expenses, and consider carpooling or using public transportation to minimize transportation costs. Remember to bring an open mind, a positive attitude, and a willingness to explore and embrace new experiences.
Canceling Subscriptions
Canceling unnecessary subscriptions is a key frugal living strategy that can save you significant money in the long run. Subscription services, whether for entertainment, beauty products, or online memberships, often come with recurring fees that add up over time. By evaluating your subscriptions and canceling those that no longer serve a purpose or bring value to your life, you can free up extra money to put towards your financial goals.
To evaluate your subscriptions, start by making a list of all the services you are currently subscribed to, along with their associated costs. Consider each subscription’s value and the frequency of your usage. Are you getting your money’s worth? Are there cheaper or free alternatives available? If you find that a subscription no longer fulfills its intended purpose or aligns with your current priorities, it may be time to cancel it.
Canceling subscriptions can be a straightforward process. Many subscription-based services allow you to manage your subscription settings online, making it easy to cancel or modify your subscription preferences. Alternatively, you can contact the service provider directly to cancel over the phone or via email. Keep in mind that some subscriptions may have cancellation fees or require a notice period, so be sure to review the terms and conditions before taking any action.
Once you’ve canceled unnecessary subscriptions, consider alternative options for entertainment or services that align with your frugal living goals. This could mean exploring free or lower-cost alternatives, such as borrowing books from the library instead of buying them or using free streaming services instead of paid subscriptions. By being intentional with your choices and making conscious decisions about where you allocate your money, you can save significantly in the long run.
Conclusion
In conclusion, frugal living is a powerful tool for saving money, reducing waste, and living a more intentional and fulfilling life. By adopting frugal living habits, such as clothes swapping, using reusable containers, making homemade cleaning supplies, and finding free local events, you can make a positive impact on your finances and the environment. Additionally, canceling unnecessary subscriptions, practicing gratitude and mindfulness, and learning DIY skills are all strategies that can contribute to a more frugal and fulfilling lifestyle. So why not give frugal living a try? Start incorporating these tips into your daily life, and you’ll be amazed at how much you can save while still living a life filled with joy and abundance.