Isn’t it strange how it’s gone in the blink of an eye every time you get paid? This is because we have more money going out than we have coming in. Which is also the story of everyone’s life. Blame your frugal habits!
But this doesn’t have to be a constant occurrence in your life either. Taking control of your finances will be the only way to thrive financially.
So how do you do that? Well, just like getting good at anything, it takes practice. This isn’t easy because you’re accustomed to a particular lifestyle.
But your lifestyle can’t be much you’d want to hold on to if you’re broke as soon as you get paid. So why not try something different?
Why Do We Develop Frugal Habits?
In living the life you’re living, from a financial standpoint, you may very well be experiencing financial anxiety and not even realize it. People tend to think that financial anxiety is simply being stressed about money or overspending. But just as overspending is a form of financial anxiety, so is being overly frugal to the point you can’t enjoy life.
The point is that there is so much more to life, and if you feel that you need to make more money to live the life you want, you’ll never be satisfied. This article teaches you how to make do with what you have and how specific changes to your lifestyle can result in positive changes in your wallet.
If you want to save on your monthly expenses, follow these tips.
Ways to Cut Back On Your Monthly Expenses For A Frugal Lifestyle:
Here are a few ways to control your frugal habits and prevent them from depleting your paycheck! Check these out and apply them ASAP:
Switch To Solar Power:
Aside from helping preserve the environment, could there be more reasons to switch to solar power? How about the fact that it helps you save on your monthly electric bill?
If you live in a house, you can install solar panels, but what about those who live in apartments and rental properties that won’t allow solar panels to be installed? Can they not reap the benefits of solar power?
This is when joining a shared solar initiative comes to save the environment and the day! By joining a shared solar initiative, you’re eliminating the use of fossil fuels to power your home and instead utilizing the sun’s energy to power your home, which comes in abundance. This is why your electric bill can be considerably lower; it comes from a renewable resource.
You simply visit www.choosesolar.com to sign up.
Ditch The Morning Coffee Runs:
Do you know that people with Keurigs and coffee machines at home will still spend money at Starbucks and gas stations to grab a hot cup of coffee on the way to work?
If you’re one of those people, stop that. The excuse is typical: they don’t wake up enough to make coffee in the morning, and it’s easier to stop on the way.
That ease and convenience of “stopping on the way” cut your paycheck. If you say you don’t have time to make coffee in the morning, that should signal you to simply wake up earlier to make coffee.
It doesn’t have to be significantly earlier, but if waking up 10 minutes earlier than normal will get you the fuel you need in the morning without spending $3 to $7 on coffee, it’s worth it. You won’t believe how fast those coffee runs add up.
Cook More:
This is another monthly expense that shouldn’t even be counted as a monthly expense. But the money you spend eating out can quickly add up to a sizable bill if you’re not careful. Grabbing lunch on lunch breaks, fast-food runs after a night of partying, and ordering take-out when you don’t feel like cooking are all things that eat your money up.
Consider taking the amount of money you normally spend on take-out, putting it towards groceries, and making meals. Not only will you have more food and meals to last you throughout the month, but you’ll see just how easy it is to make the foods you love so much from restaurants at home and how much less you’re spending!
Set Priorities:
Have you ever wondered why we develop frugal habits? Apart from being psychological, it is also because we do not have a prioritized list of things our money should take care of.
When we prioritize where our money will go, we are more likely to make wise spending decisions. This is why you must identify which of your expenditures matters.
It should be a good balance of what brings you joy and what’s important. That is when you allocate your resources accordingly. For instance, if you are fond of exploring or have a hobby, set a budget for these. You’ll see that you’re spending way more responsibly!
Choose to Treat Yourself:
Instead of encouraging your frugal habits, wouldn’t it be wise to develop a ‘treating myself’ mindset? I’d say yes, bestie! Allocate a portion of your salary for a small experience – that’s just for you!
It’s guilt-free, which means there are no post-spending blues about it. This will be your way of enjoying the fruits of your labor. Think of it as a reward for your finished work, such as cooking for the entire week!
And It’s A Wrap!
These are all the ways you can take care of your frugal habits to enjoy your life with financial management! It is no rocket science; you can get this done if you follow the framework.
These changes are just a small way to ensure you do not spend way more than what you save.
Try these out and say goodbye to the financial baggage your frugal habits bring! Come back after a month of applying for these and tell us how it went.
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