Transcription
Welcome back to my channel and to another money-saving video where we are talking all about how to be frugal. Frugal living tips and things that frugal people do to save money, but more importantly, just be more mindful with your spending.
I have shared videos over here on my channel for absolutely years to show you ways to live your best life on a budget, to save money, to make more money, live more mindfully, and more intentionally. But I figured, it being January, you may well be looking for a place to start. How do you even get started with living more frugally or just being a bit more mindful with your spending?
So, pop over to the rest of my videos if you are new to the channel. I'll link them all down in the description for you. There's loads of videos here that will help you be better with your money and ultimately just get better financial well-being. My name's Lara, if you are new here. I'd love to have you here as a subscriber if you do enjoy the video. As I said, there's lots more to check out on my channel, but for now, let's get comfy, get cozy, and let's get into the [Music] video.
Okay, so for me, it's about not not spending money. It's about not wasting money. And I have done a video all about how being frugal and being cheap is not the same thing. Frugal people may actually spend more money on things because they know in the long run, it's going to last them longer and ultimately save them money in the long run. So, there is a big difference, and I think you need to kind of understand that. For me, I will spend money. I will... I sound like that mean that David Beckham one, he's like, "I like nice things." That is so true. And I think I've got to the point now with my spending that actually, if something's going to cost me more money, I'd rather do that than buy lots of little things that don't really amount to much, don't bring me much value, don't bring me much joy, and actually cost more money in the long run.
The key to saving money, being better with finances, and getting financial well-being under control is to live below your means. Now, a lot of this may come as a refresher if you've been here here before, but I have got 30 frugal living tips coming up in the video that hopefully you'll definitely take away something from this video. And if you are new, like I said, go back to the beginning when we first started talking about frugal living and saving money. As I said, the key is to try and live below your means.
So, we're talking lifestyle creep here. So, if you are getting paid more for your job, maybe you've had a pay rise, maybe you've got a new job, then don't let lifestyle creep actually outweigh the extra money that you have. So, say you have more money, but you're spending more money, you're getting the bigger car, the bigger house, you're going out for dinner more, you're doing more things, then actually, your what's left in the bank is going to be less anyway. So, that's something to really think about when you do get paid more, perhaps, or maybe you just earn more money than you used to. Are you actually able to save that money, or are you actually just spending it on more things?
Ultimately, frugal lifestyle choices can help you get a hold of your spending, manage your money better because you may well earn loads of money, but actually, you're not managing it, and you end up at at the end of the month still not having any money spare to be able to save, or to be able to put into investments, or to be able to have leftover at the end of each month because you're actually spending more than you earn. So, living below your means is kind of like my goal and my that I what I've worked towards. Obviously, all of this is depending on your situation. So, you may well be in the beginning, and you may well only just be getting better with your money, only just be earning a little bit more. So, don't try and do what other people are doing when you see they can save everything every month, invest every month. You know, if you're at the beginning of your journey, then that's exactly what it is. It's a journey to get to that point to living below your means and to be able to invest and get to a better financial position.
I'd love to hear your frugal living tips in the comments. Get involved. We love to read what other people do day-to-day, like your little things that add up to be the big things. And that's the thing with a lot of this, it's just those little habits, those money management habits, and frugal living changes that create this better overall well-being in your finances.
Okay, so number one, investing in your health. It's better to invest in your health now than to wait until you have an issue, and then you're either paying a lot more. Obviously, if you live in America, you'll be paying medical bills. If you live in the UK, but you want to get better like private healthcare that you may well need something urgently, and you don't have the time to wait on the NHS, then just looking after your health now is something that can really benefit you in the long run. And that might even be your dental work, like your your general health. So, frugal people will probably make sure that they are better at being good to their bodies. You know, getting the rest when they need, getting the recovery that they may need. You know, they may well spend more on supplements or health products because they know in the long run, it's actually going to benefit them. And of course, if you are off work because you're poorly, then you're going to have to spend money on in your emergency fund because you're not working. So, it's like this holistic viewpoint of it's not just the one thing that it affects. Actually, having good health now can really affect everything in the long run.
The next one is the joy of less. Minimalism can be absolutely crucial to saving money, and that is because the less stuff you have, the more the less money you're spending on it, and and actually use the things more as well. Frugal people often buy secondhand furniture to upcycle it, so they're not actually spending money on expensive things from the shops. Now, obviously, you may well want something like a bed that's brand new or something like that, but think of the little things that you can buy. Can you upcycle a table rather than buying it new? Given that I've just spent months looking for a table, I know that they are very costly. But I love upcycling furniture. I've got DIYs and Ikea upcycles here on this channel as well, if you'd like to see them. But frugal people do think outside the box when it comes to buying new.
Now, frugal people often buy one thing that's like a multitasker. So, for example, natural cleaning products. Frugal people often just use white vinegar and maybe put some essential oil to take away the smell, but they'll use that in their laundry detergent to make their towels softer, they'll use it in their cleaning products, they'll use it to disinfect things. It's a multitasker. So, think about natural cleaning products to be able to use around the home rather than buying really expensive things.
The next one is taking public transport, or even walking or cycling, rather than taking expensive Ubers or taking taxis and things like that. Frugal people often do a lot more walking because they know that obviously in the long run, it's better for their health and it's better for their wallet as well, because they're not paying a lot on expensive private transport. Now, obviously, if you are a lone female in a city, you may well not feel comfortable doing this, and this is where you have to take sensible decisions. Obviously, don't go on public transport if it's a scary nighttime trip in the city. You may well feel comfortable doing that, but it's just those everyday decisions where for me, it feels like that habit. I don't live somewhere where I need to take Ubers. I don't really go out to be honest with you to take them, but I know lots of people just do it like that, whereas I would go, I would walk, I would take the tube, I would take a a bus or something like that, rather than getting a private taxi. So, often it's just that habit of not doing the thing that once you break it, you get into the habit of changing it and doing something that's less expensive.
Now, don't come at me because I know pets are such a special part of a lot of people's families, but they can be very expensive. However, if you do want a dog for like a country walk, take it out, then there are websites out there where you can actually do something like borrow my doggy to take a dog out if you just want a dog now and again, but you can't afford to house a dog and feed it, put it into kennels when you go on holiday, that sort of thing. So, maybe think about that if you want to have the comfort of a dog, but not always have one at home because of the cost, then use a website like that, or maybe speak to neighbors. Maybe they're out at work all day. Do you work from home? Could you have a dog in the house to look after it if if you're, you know, able to and the house is a safe environment for it, rather than having it yourself? Obviously, it goes without saying, but let's just add it in just in case.
No dryers. Get that on an airer. Get it on a radiator. Extend the radiator with those wire things so you can just hang it over. We do not use a dryer. It's not only bad for the environment, but it's so costly, and it's to me, there's just no need for it.
The next one that frugal people do is make sure they're getting the best cost for things when they signed up to suppliers. For example, make that awkward phone call. You know, just make sure you're actually phoning people and just saying, "Look, I'm trying to get a better rate on my deal on my tariff. I've been with you for a long time. They may well have a loyalty program." And just explain to them, you know, "This is what I need it to be. Where can we meet? Can you meet me in the middle? Can you help me out?"
Now, frugal people, as I said, they know when to buy the more expensive thing. And this may well be the case for something like laundry detergent or washing-up liquid. Now, when we have bought the cheap washing-up liquid, you use so much more of it to get the same effect. So, for me, I wouldn't actually buy the cheap washing-up liquid, even though it's more expensive. I'm going to get better use out of it, it's going to last longer, and maybe even clean the plates better. So, for me, I would choose to splurge on something like washing-up liquid, maybe washing powder, to get something that's better for the environment, to get something that's better for our skin, and actually then spend more money, but in the long run, it works out better for me.
Now, with books, for example, we have lots of options to get free books. My friend, if you are a Prime customer, then you obviously get Prime Reading for free. So, make sure you're utilizing that. I will leave my link for you in the description bar. If you're not a Prime customer, there are so many benefits for it, but TV and books are one of my favorite things, and I always get my books or my Kindle. They're free, literally free books. However, if you don't want to get a Kindle or you don't want an Amazon subscription, that's absolutely fair enough. You can also go to the library, of course. They not only do books, they also do audiobooks, magazines, sometimes movies. There's lots that you can get free from the library, and also BorrowBox is really good as well. If you do have a digital device to read on like a Kindle, you can get books sent to you from BorrowBox for free as well. So, loads of resources to get free books. And of course, if you're reading free books, and you don't need to watch as much TV and use electricity, and yeah, it's just up as a whole thing.
Also, with the library book, you can also rent equipment from libraries. You can do much cheaper photocopying, usage of the internet. There's so many services that the library offers, so make sure you're utilizing that as well. And of course, it's free to get a library card.
I really hope you're enjoying the video, guys, and you're picking up some frugal living tips and ways to spend more mindfully. Don't forget, there's loads of videos here on this channel to help you with your finances and your financial well-being. And if you are enjoying the video, I'd really appreciate it if you gave it a like, a thumbs up up, which is down here, I believe, and also subscribe to the channel. I'd love to have you here in this community.
Perhaps you could replace your Ziploc bags with lidded pots or with glass jars or something like that. Or if you are using Ziploc bags, then wash it, turn it inside out, dry it, and use it again. Frugal people will start saving for big events before they happen. So, I'm talking Christmas, guys. I know it's January, we've just got over it, we're probably still paying for it if you didn't manage last year to save up in time. But start saving for Christmas now. Not only will you spread the savings so you don't feel such a big pinch near of the time, but also start buying the things if you see them on sale. If you see something that you know someone's going to want, can you buy it now and store it until the big day? So, you're then spending less money near of the time and less stress as well.
Electric blanket. Need I say more? I am obsessed with my electric blanket. Save so much money because you don't need to have the heating blaring. Heat the person and not the house. I'm obsessed. I'll link mine below if you are interested. It's definitely paid for itself already, and I just love it. It makes you feel so warm to the bone, like literally to the bone, and especially good at nighttime to save having the heating going.
When you are spending money, make sure you're being savvy about it. I am always about the cashback, the voucher codes, the discounts, the three for two, get the offers. If you are spending your hard-earned money, make sure you're earning money for doing so. I'll leave my top cashback link for you below. It's free to use. Use. I don't have the subscription that you pay for. It's absolutely free, and it's so easy. Just literally when you're buying something, either go through the app ahead of buying it, or get the Chrome extension on your computer. So, when you're buying, you literally press one button, it takes the purchase through Top Cashback, and then it tracks it. But you still buy it from the retailer as normal, so you don't need to worry about going through a different website, and you earn money when you spend. It's just for me, a non-negotiable. I have to use it every time I buy. Also, I think they'll give you a free welcome gift. I think we both get like £15 when you sign up to my with my link, so I will link that for you. Everything will be in the description box.
Also, while we're on the subject of this, when you are spending money, make sure you're getting bonuses as well. So, I use an Avios card. Again, I will link that for you below. I think we both get some free points if you join, but I love it, and I get free flights from it. It's just again, no-brainer. I'll put it on my cash on my credit card, and I pay it off every single month. I never have debt on my credit card. I use it to build my credit rating and to get the free flights and the Avios points as well, which you can spend in different places, but I use it for free flights. But obviously, if you can't trust yourself with a credit card, then don't sign up for it. But this is if you are spending money and you're paying off every single month, it makes sense to get the benefits for it.
The next one is unsubscribe from marketing emails. This is so important if you are triggered easily to spending, or you get something sent to you and you're like, you're very spontaneous with your spending. Make sure you're unsubscribing, and it's less digital waste as well.
Of course, frugal people will make do and mend. And of course, there are loads of tutorials over on YouTube. If you have no idea how to sew something, just sort of tool up, get some skills in your tool belt, and you will save yourself a lot of money.
Frugal people will gift and be gifted gifts of service rather than things. This is something that I love. You know, you may well know someone that does a good amount of like plumbing or electrics or housekeeping or something like that. If you can gift somebody a service that you're not paying for, maybe you can look after their children if you're a trusted person, then that sort of a thing is a really great gift to give because you're not spending any money on it, but chances are the person receiving will be so grateful. I know I would be.
Frugal people actually water down things such as hand soaps, any products around the house, shampoos, and they can last longer.
Frugal people do things like no-spend challenges. I've done one before, but you don't have to do a whole year. You can just do like a weekend. Don't spend any money one weekend. You can save a lot of money doing this, especially if you're one for going out for breakfast, to getting takeaways, getting taxis to go for dinner. If you just spend like one weekend without spending money, think of the money that you can save throughout the year. And if you are a bit more hardcore, you could go for the whole month, or maybe even longer. There's lots of videos I documented here on this channel.
The next one is to train your hair to go a bit longer in between washes. This obviously not only saves money on excess hair washing stuff, so shampoo, conditioner, any styling stuff, but also the water when you're using it, the heating that your cost spending on heating the water, and then even as far as like the tools that you use to then dry your hair afterwards.
Washing on cold water is a really good one as well. Make sure you're getting less usage of your hot water on your washing machine, and it's as I said, everything, most of these are actually better for the environment as well, but then you're reducing the cost of washing your clothes, and they're actually going to last longer as well. So, in the long run, it's much better for the fabrics, for the environment, it's just a win-win.
Okay, I think we're on number 24 now of 30 frugal living tips, and the next one is to buy refurbished equipment. So, things like technology is a great one for this. Phones, computers, often they'll come with their own warranty themselves, and you'll spend a lot less money on it. And with this as well, things like mobile phones, if that's not your job, do you need the next best phone every single year when they come out? Can you maybe go another year in between? Can you maybe go without having the contract and just get a pay as you go? I think I pay about £8 a month, and I bought my phone outright, but I then don't spend like £60-£70 a month on this phone. It's cost me so much less in the long run. But if you don't need a really, really good phone, could you maybe get a refurbished one?
The next one is using cash. I don't necessarily do this one, but I see the merit in it because handing over cold hard cash can be quite painful when it comes to like, "Oh, like that coffee is actually a whole £5 note these days." Rather than just tapping a phone, it can actually be really powerful to use cash for purchases. Cash envelopes if you want to stretch out your budget throughout the month. Obviously, it could come with its dangers if you lose the money, places don't take cash, but yeah, just like be mindful when you're spending, and cash does really help with that.
The next one is something I used to do all the time, and that is go to students, go to colleges for things like treatments, beauty treatments, hair treatments, even cafes and restaurants. Colleges have trained students which are being looked over by a professional lecturer at the same time, so you're not going to get a dodgy service, but you're going to pay a fraction of the cost.
The next one is to save up for things rather than buying them on credit or having to get into debt to buy them. And not only builds a bit of excitement because you're saving for the thing and you're counting down to get it, but really, if you can't afford to buy it in the first place, and it's not a big thing like an essential thing, then do you really need it in the first place?
Now, obviously, what happened a couple of years ago has affected the way we work, and it might well mean that your partner or the person you live with doesn't actually go into the office anymore. Could you maybe downsize your car situation and just have one car between you that you can share, and you can carpool with other people in the office when on the days that your partner might need the car? It's just about maybe like changing habits that you haven't even thought about over the last just because your situation's changed, you actually haven't changed the repercussions of it, if that makes sense, as like an overall picture of your lifestyle and what changes you can make.
The next one I may be kind of touched on it, but using less washing detergent. You don't need the whole thing of laundry detergent. You can either water it down or just use less. And also without conditioner as well. It's actually better for the machine. Using some white vinegar or something like that rather than using conditioner in your wash, just to reduce the amount of things that you're using each time you use them.
Now, clothes is a big one for me because I love clothes, and I do love fashion, but buy more expensive things can actually last longer, and you get a bit more joy when you're wearing them because you know the value of it. You know that you've spent more money on it. When you do own something that's a bit more expensive, you just feel better in it. It's better quality, it's going to last longer, and for me, I just feel nicer when I'm wearing something that's cost a little bit more. But I'll buy less things.
And finally, I think this might be 31 actually, but finally, it's often the things that it's often the desire for the things that we want more than the thing itself. So, for me, sleep on it. Do the 30-day rule. Have a few days of breathing space. Do you actually really want the item, or is it that you are the desire is pushing the purchase? So, yeah, sleeping on it can really help reduce your impulse spending, and it's definitely changed my money mindset over the years too.
So, I hope that was interesting. Maybe picked up some new tips. Let us know in the comments your frugal living tips. I'd love to hear them. Thanks for being here, guys. Don't forget to check out all of the other videos here on this channel, and I'll be back really soon with more videos for you. Take care. Speak to you soon. Bye. Speak to you soon. It's like I'm on a phone call.