Can You Pave Your Way to Riches With These 10 Frugal Living Tricks?

Some people seem to have a natural ability to make money and others have the knack of living frugally so that they can make the best of the income they receive. A good balance to aim for would be to get the best of both worlds so that your bank balance takes on a healthy look.

If you are looking for some worthwhile money-making ideas you may well get some inspiration from a site like journeytobillions. In addition, here are some suggestions to help you lead a frugal lifestyle that allows you to keep more of the money you are making.

Bigger is not always better

It might be nice to live in a big house but the cost of buying and maintaining a bigger property than you need could soon eat away at your monthly money.

Even if you can afford a bigger house it doesn’t follow that you should live in one. Go with a smaller house and that will be a great start to living frugally.

Downsize your car too

In addition to a smaller house, the savings really start to add up when you buy a smaller car.

Do you really need a big SUV, or could you make do with a cheaper and smaller alternative?

Do the math

The automatic assumption is that owning a property is always the best way to go but the numbers don’t always add up on that score.

Although it might go against your preconceived view of property ownership it is well worth doing the math to see if you can rent, and save money that you can invest in order to grow your capital.

You might find that the money you put into the stock market grows at a faster rate than if you put all your cash into property.

Be savvy with your big purchases

If there is something you want to buy you could actually save loads of money if you try to buy used rather than new.

There are lots of places to buy nearly new and used items, often at a fraction of their retail price but in perfect working order. See if you can save money by being savvy with your purchases.

Help your waistline and your wallet

Eating out is fun and sharing a meal with friends or family is a great thing to do but you can soon spend a lot of money eating out.

Try to eat out less and entertain at home. You will save a lot of money and still have a great time.

Use coupons and offers

If you do want to go out to a restaurant search out a deal to save money off the bill.

Many venues offer incentives and discounts, such as money off if you eat early.

Think before you buy

Impulse purchases can be a real drain on your bank balance and so many of us regret buying in haste.

A good tip is to hold back on buying something you want for a week or so. If you still feel the same after that time, go ahead and buy. There will be items you feel differently about if you wait and that will save tons of cash.

Take cash

When you go to the grocery store, leave your card at home and take the amount of cash you want to spend.

It will change your shopping habits and boost your bank balance.

Don’t go to the gym

Gym membership is expensive and most of us don’t go enough times to justify the cost.

Taking a run in the park is just as healthy and doesn’t cost you a monthly fee.

Pay off your credit cards

Take a look at how much your loans are costing you in interest payments and schedule a payment plan that pays off the most expensive one first. Carry on until the balances are cleared and you will really notice how much you save as a result of paying off your cards.

Try these frugal living tricks and see what a difference it makes to your bank balance.

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