If your dedication to frugal hacking consists of limited energy and time, your best option would be to use both these things on a bigger savings strategy. To be honest, nobody walks round with a large amount of either of these resources. Obviously, people may opt for the smaller tasks, which can be effective as they add up over the time, but they do require more time and effort than bigger strategies.
Small Savings and Big Savings
If one of your strategies for a frugal life consist of going to the grocery store and cashing on small savings, or driving over two towns away just so you can use a $10 off promo, it is time you thought bigger. Upon hearing about freebies, coupons, and promos, we all excited and in the whole excitement, the only thing we think about is scoring the deal, which gives us no time to have a think if the saving is worthwhile. Just for these little savings, usually your vehicle is going through extra gas, wear, and tear, all of which are bad factors amongst the good strategies for a frugal life. This is because in the end you are actually spending more than what you are saving, which makes the whole experience useless.
Small strategies for a frugal life for daily spending are a brilliant way to get you in the habit of conscious spending and savings. Even those cashing in on deals and using coupons is a way that is resourceful for saving an extra dollar or two, but if you wish to think long-term, then you should think bigger.
Save on interest
The first of the strategies for a frugal life is to save on interest. This is a prime way and all it involves is securing favorable interest, which maximizes savings. One thing you need to do is get your credit in shape and check your credit history frequently, make payments in full and on time, and decrease your debt as much as possible to the credit ratio that is available. What this means is all your balances on your entire credit card accounts must be paid down. If you have a higher credit score, this means you also have less interest rate, which as a result gives you higher savings.
Give Up the Tax Refund
Altering your cover-up exceptions in order to match your payments to your real tax liability is the second of strategies for a frugal life. With this, you will not end up with a big refund the coming April. Getting a massive check in the mail is an exciting experience, which is even more pleasing when you know it is the money that you have been loaning the government at no charge, than developing your own investments and savings accounts.
Try To Bargain
If you want an old fashioned of strategies for a frugal life, then what you may want to do is get yourself at the other end of the cell phone rep, cable company, or another service provider for a total of 10-20 minutes and get negotiating about saving on those consistent monthly bills. If you are seriously getting nowhere after you have asked for a lower rate, then you may want to ask to get through to the retention or cancellation department. After this, you can simply just watch, or should I say hear the offers you have coming in. After doing all this, if you still remain unsuccessful and cannot bargain down to the savings you are after, then one of the additional strategies for a frugal life would be to look for a service somewhere else, after having shopped your providers. You never know, you may even be welcomed with a new customer discount percentage!
Buy In Bulk
One of the brilliant strategies for a frugal life is to purchase in bulk. If you choose to do this, it can sometimes lead to overspending and purchasing unnecessary stock. However, it is definitely one of the best ways for you to save on nonperishable items like cleaning supplies, alcohol, and paper products. If you choose to stock up, you are actually saving both on the constant trips to the store as well as costs.
Why Not Get Healthy
Not only is being healthy something that we should all do, but also helps reduce costs. Exactly how, you must be thinking? Being healthy makes you less prone to health problems, which as a result decreases health care costs. If you choose to live healthy, eat healthy, exercise regularly, and quit smoking, then this will surely have a huge impact on your insurance payments.
The more things you have, the more they need cleaning and looking after, which requires more energy and time. The more things you have leads to more expenses, which is why you should consider downsizing your savings rise.
Hold Off On Retirement
Subsequently to the full retirement age, it is important to take social security benefits. Failing to take these can lead to a permanent development of 5-8 percent in your benefits until you reach the age of 70. More than 25 percent of the social security income can be developed just by this one strategy.