Although if we are given the choice between living a more frugal life and earning more money, we should always choose to earn more money to be able to afford a certain level of life, the truth is that it does not always have to do with money. Therefore, along these lines we will see how we can save more money by changing our mentality to lead a cheaper life. And not worse, of course.
The first step to maintain a healthy finances is to have a head furnished. And a furnished head, often does not need certain things like impressing others, living according to current fashion or comparing with friends and neighbors, who are not always as financially healthy as they want us to believe or want to pretend.
Here Are 10 Frugal Ideas To Save Money:
- Eliminate as many of our desires as possible from our head and think of needs.
There are things that we would like to have but that are not a necessity. There is no need to eliminate all desires, but you have to act with a head and focus on the things that are “necessarily necessary”.
For example, a car can be a necessity. A € 30,000 car is a wish. It will make you see better the car of € 30,000, you will impress more people, even though there is no difference in the usefulness of this asset between the oscillation of 9,000 to 50,000 euros, as both actually take you from point A to point B. And that’s where one of the main problems that people have to accumulate wealth comes from, which is to spend the money they could have on trying to pretend what they are not.
This is applicable when buying a television, a next-generation mobile, etc … It is good to have desires and give us whims, but it is better to be happy living as cheap as possible.
- Get rid of bad habits.
There are habits that cost money. Other habits cost money and health . We must avoid compulsive purchases (again focusing on needs and not desires), smoking, gambling, alcohol, even a certain diet. In the latter case, remember that medicines are more expensive than fruits and vegetables.
Not only will you save money but you will improve your physical and intellectual health.
- Try to reduce the number of times you eat or have dinner outside the home.
If we count the money that we usually spend on eating out, we will quickly come to the conclusion that eating at home is more profitable, and in the process, we can eat healthier.
- Cut out what you do not use.
Extended insurance, TV packages that we do not use, extra services that we will rarely use or the gym fee we go to twice a month to do what we could do at home or outdoors.
Analyze all these expenses to the millimeter, because small monthly amounts add a large amount at the end of the year. Follow the series of tips we gave to save large amounts of money per year , where we talked about merging services, negotiate contracts and make bargaining strength with companies if you are more family members.
- Before financing a purchase, think about whether you really need it.
When someone buys something or goes renting, it is clear that they need furniture, and they do not always have the money to pay for them in cash. In this case, they usually resort to financing furniture. And maybe you do not need that dining room set or that nice little entrance table. Maybe to start we can buy very, very cheap second-hand furniture from other people who do not need it while you keep saving and do not carry debts in your bank account.
- Learn to say NO to others.
If your friends plan is to dine in a luxurious restaurant, accompany them to a concert that really is not that you’re passionate about and even go to the movies with your friends, but your stomach tells you that you really can not afford that, no nothing happens because you say no.
As a personal case, there was a time when my circle of friends was very wealthy, so they had a very expensive way to have fun. For a few months I followed the rhythm, and I had never seen my bank account go down so fast. This brings us to the next point.
- Learn to have fun with things that do not cost money.
And really, do not do this to save money, but to learn the lesson that as a rule, the good things in life, the things we should appreciate, do not cost money. If you think there is no way to feel alive without spending money, it is very likely that you have strayed from the right path and you must readjust something in your brain.
Go back in time and think about what those beautiful moments you have been enjoying, even when you were 15 or 20 years old. It did not cost much, right?
- Think twice before purchasing a pet.
I like pets, especially cats, but have you ever thought about how much money today means having a pet? Take out accounts and think about whether it will compensate your finances and how much it will prevent you from saving.
- Find out how much your time is worth.
We must put a price on our hours for many reasons before giving universal advice. It’s easy, we divide our income between 30 days and then between 24 hours that day. The result is what is worth every hour of our time.
For some, their time is worth 0 euros, because they do not receive income (and coincidentally they are the ones that tell you they do not have time to learn something), for others it is worth € 5, for others € 100 and for another € 500,000. Knowing how much your time is worth, you know how much you are spending in those hours you are watching television or in that cafe with a person who is boring you.
- This will also help us to know if it is more profitable to hire a professional or do it ourselves.
A very extended advice in finances is that as far as possible, if we must make an arrangement in our house, instead of calling a professional of wood or masonry, we see a couple of videos on YouTube and learn to do it ourselves . The same to repair an appliance or change a car lamp and for DIY themes.
And here comes the question: How much is my time? How much does the repair cost? Or we can also ask ourselves if during the hours that we are going to be doing something we could be producing in some way. Now, if you are going to be bored at home doing nothing, and you can not afford to pay a painter, it is clear that it would be preferable if you painted the interior of your house instead of hiring a painter.