Another 14 Best Frugal Tips to Try In 2024

Frugal Tip #1: Research Before Buying

This is one of the techniques I use often. I always spend a lot of time researching products before buying them to make sure they are worth the money.

Sometimes I might spend a little more on an item to get better quality, but you’d be surprised how often cheap items get the highest ratings.

When you’re researching things, pay attention to common complaints in customer reviews, such as if a lot of people saw something broken. You can also read blog posts, and Consumer Reports is also good but requires a subscription fee.

Research can help you find the best products so you don’t waste money, and you can also research used items.

Frugal Tip #2: Save money on your next vacation

If you want to learn how to be frugal but not cheap, you still need to take a vacation. Luckily, there are some great frugal tips to help you plan your next vacation.

Here are some of my favorite ways to save money during the next holiday season:

• Be flexible with your flight dates. Sometimes just a day or two difference between each flight can save over $100. Most booking sites will let you choose flexible date options to browse prices and days.

• For tourist destinations, choose off-peak or shoulder seasons rather than peak tourist seasons.

• Stay in an Airbnb. Airbnbs are often much cheaper than hotels, and you’ll likely get more space and more amenities.

• Claim discounts at your hotel.

• Eat like a local.

• Buy groceries and eat out less (this is easy if you’re staying in an Airbnb since many have kitchens).

Related: How to travel on a budget

Frugal Tip #3: Join a “Buy Nothing” Group

The Buy Nothing Project is a network of more than 65,000 hyper-local gift economies where neighbors come together to meet each other’s needs.

You can use these groups to ask for almost anything. My sister-in-law is a facilitator for a local group and she shared some of the things people are giving and receiving through her group.

• Winter coats for the whole family

• A small amount of cinnamon can be used when someone needs a little cinnamon for a recipe and doesn’t want to go to the store

• Borrow a steam cleaner to clean your car interior

• Meal truck for families who have just had a baby

• Dog walking service

• Packing moving supplies such as boxes and bubble wrap

• Provide graphic design services to entrepreneurs

You can find your local Buy Nothing group by searching on Facebook.

Frugal Tip #4: Open a High-Yield Savings Account

High-yield savings accounts can make you more frugal because you make money on your savings, but most people’s money sits in low-interest accounts. Unfortunately, this means many of you are missing out on some easy money opportunities!

Savings accounts at brick-and-mortar banks are known for offering extremely low interest rates. This is because their overhead costs are much higher – paying building fees, paying cashiers, etc. Many people still use savings accounts they opened years ago at brick-and-mortar banks.

Learn more in How to Earn Over 20x the National Savings Rate .

Frugal Tip #5: Visit your local library

Your local library is a great way to live more frugally, as many now let you do more than just borrow books.

In addition to books, you can also borrow movies, music, cameras, GoPros, even binoculars, and more.

I’ve even heard of libraries that lend out kitchen utensils, power tools, state park passes, and sports equipment!

This is definitely one of the best frugal tips because all you need is a library card and these are free. Just don’t forget to bring your items back on time so you don’t get charged a late fee.

Frugal Tip #6: Have an Emergency Fund

I think an emergency fund is something everyone should have. This may not sound like a way to save money and be frugal, but let me explain how it works.

When you save money for emergencies, you are preparing for unexpected expenses, job losses, pay cuts, and more. Rather than relying on a credit card or borrowing money (which may cost you more in the long run due to interest charges), an emergency fund can protect you from going into debt.

Learn more in Why You Need an Emergency Fund and How to Start One Today.

Frugal Tip #7: Find Free Local Events

I’m sure there are some great free things to do in your area if you take a moment to look. All you have to do is search for “free things to do in [enter the name of your city].”

I did a quick search on our current situation and found a dozen ideas, many of which were things I’d never done before.

This is one of the most fun frugal tips that can help you plan your next date night, day out with the kids or friends, and help you explore your city.

Frugal Tip #8: Buy Secondhand

Buying used furniture, clothes, etc. is one of the best ways to save money on a tight budget, but I sincerely recommend it to everyone.

You may be able to obtain second-hand items through:

• Find out what friends, family and neighbors want to get rid of

• You can also find free items listed on Craigslist or Facebook Marketplace

• There are also local Buy Nothing groups on Facebook that focus on gift giving as a way to build community.

Trust me, people want to give away their stuff! This is much easier than trying to find a place to donate the item (some places actually have so many donations that you have to say no), and it might mean the person doesn’t have to have it hauled away.

Frugal Tip #9: Use a water filter instead of buying bottled water

Unless you live somewhere where the water is not clean enough to drink, buying bottled water may be an unnecessary expense.

According to The Water Project, the average American spends about $100 a year on bottled water.

You can drink the water right from your own home instead of spending so much money on bottled water every year. If you want, you can even buy a water filter and save money in the long run.

Frugal Tip #10: Downsize Your House

Downsizing can be difficult for many people, but it’s one of those frugal tips that can make a really big difference.

Some people think smaller homes are impractical, but with all the costs considered, larger homes aren’t practical for many people either. You may spend more each month on:

• Mortgage or rent

• Taxes

• Insurance

• Maintenance and care

• Things to keep at home

Your home is an important part of your life, but if you don’t really need the space, it can cost you a lot. In fact, you might be surprised at how little space you can live comfortably in.

If you’re interested in learning more about how to save money by living smaller than the average home, read “Smaller is Better – Maximizing Your Savings with a Tiny House.”

Frugal Tip #11: Mend Your Clothes

Most people throw away clothing when it has holes or tears, no matter how small. However, if you learn how to mend, your clothes will last longer and you’ll save money.

Even something as simple as learning how to sew buttons can be a great start.

If this is one of the frugal tips you’re interested in learning more about, search for “visible mending” or “sashiko.” You’ll find some beautiful examples of how people have turned mended clothes into wearable pieces of art.

Frugal Tip #12: Go out for lunch (instead of dinner)

Eating out is a big expense, which is why many frugal people avoid eating out. However, if you do want to splurge, you can still save money by going out for lunch instead of dinner.

Even though the meals are very similar, the dinner menu is generally more expensive than the lunch menu.

Frugal Tip #13: Grow a Garden

Starting a garden is one of the best frugal tips for home, and your garden may not require as much space as you think.

Simply growing herbs, lettuce or tomatoes in small pots can help you save money on food. I also recommend starting small so you don’t get overwhelmed and you can always add to your garden in the years to come.

If you want to be more frugal, you can collect seeds to plant next year and fertilize your garden with compost made from kitchen scraps.

Frugal Tip #14: Fix what’s broken

I’m not talking about fixing your own air conditioner or heater (unless you really know what you’re doing). However, there are many things around your house that you can learn how to fix, such as:

• Leaky pipes under the kitchen or bathroom sink

• Replace car taillights or flashers

• Repair drywall

• Unblock drains

• Tighten loose knobs or screws

YouTube is a great resource for learning how to solve problems.

What is the difference between frugal and cheap?

To me, the difference is that cheap means you’re stingy or nervous about money. I know some very wealthy people who I think are cheap because they do things like not tip the waiter when they go out to eat.

However, frugality means being frugal in one’s expenses and not wasting anything.

How can I become extremely frugal?

I get this question all the time from people who suddenly find themselves in a difficult situation. Fortunately, there are some quick ways to save, such as:

• First, create a budget and figure out exactly how much you earn and where your money is going. You will be able to see where you can save.

• Cut down on unnecessary expenses such as dining out, new clothes, entertainment, etc.

• Inspect your house to see if there is anything you can sell.

• Find a side hustle – If you’ve exhausted all the frugal tips on this list, you may want to look for ways to make money.

Once you get through this stressful financial time, hopefully you can use some of the frugal tips in this article to build a good emergency fund. This can prevent a lot of stress in the future.you can achieve your goals!