The Ultimate Guide: Frugal Living Ideas

Estimated reading time: 17 minutes

Many frugal living ideas are saturating the online market, so today, I wanted to create a guide that we successfully use.

Increase Savings By Learning What Successful Savers Do

The importance of this guide is to highlight what has worked for us to help us become debt-free and so young.

Well, if you consider 40 young, then we’re young. If you think it is old, then we’re old.

The verbal savings plan Mrs. CBB and I created in 2012 was simple, “It’s not about how much money you make; it’s how you save it,” From there, we took off.

I know you think it’s easier said than done, but trust me, especially when there are so many goals you’d like to tackle at once.

Don’t Stress – One step at a time will help keep you motivated.

I’m not going to list a million ways you can apply frugal living ideas to your life but rather keep it simple by discussing ideas that work for us.

We didn’t go overboard like some frugal fanatics because that wasn’t the route we wanted or needed to take.

On the other hand, if your debt load is very high and your net income is just paying the bills, consider tighter savings measures.

It may seem harsh now, but you’ll be jumping for joy in the long term!

Frugal Living Ideas That Increase Our Savings Plan

Creating a savings plan has to be practical; otherwise, you probably won’t stick to it and will fail at reaching your goals.

Thinking long-term is one of the most important things to consider when increasing savings.

You won’t see a spike in your savings account immediately, but with time and more forced savings, you’ll be happy you started this journey.

These frugal living ideas are meant to offer you a source of information that we use to continue living debt-free.

Affordable Living (housing)

Always spend less than you can afford, whether renting or purchasing a home.

The last thing you want to become is house poor because it’s a cycle that can burn through any savings you might have and introduce you to lots of debt. Be wary.

Budget and Organization

Don’t pay to use or purchase a budget; you don’t need to when freebies are online.

A simple budget or excel spreadsheet I offer for free will do the trick.

Most importantly, becoming an organized financial expert means you do less work sorting through piles and receipts.

My computer is in my office, and this is where we keep our budget binder.

Quality Over Quantity

Over the years, we’ve learned that just because something is cheaper than a more expensive product doesn’t necessarily mean it’s a smart purchase.

Keep in mind that quality products may last longer, taste better or work better for you in the long term financially.

Consider your options before making purchases that will impact your monthly budget.

No-Fee Banking/ Credit Card fees

Frugal living ideas include little expenses like bank fees that sneak in under your nose.

No one likes to pay fees, although, for some people, the cost of fees outweighs the personalized services they get at a bank.

We’ve been with PF Financial for over ten years, which has since changed to Simplii Financial online banking, where we’ve been happy.

Own And Use A Library Card

You probably don’t need to pay money to get that brand-new book just released, so save your money.

Get a library card and take home books, music, and DVDs for FREE!

We’ve been doing this for years and never purchase new books, only second-hand If they are cheap.

Free is good too.

Pack A Lunch

As it says, pack a lunch and bring beverages to work or anywhere you go, including road trips and excursions.

Once you start adding up all those cups of coffee, tea, hot chocolate, flavoured water, and sports drinks, you’ll see costs mount.

It’s better to buy a case at the grocery store than to buy drinks from vending machines or shops.

We buy coffee grounds and instant coffee when on sale, so we always have it in the house.

The only beverage I splurge on is beer, but I use my adult allowance.

Related: 10 Foods and Drinks To Pack For A Theme Park Visit

Gardening Frugal Living Ideas

You don’t have to have a vast garden to see savings in your grocery budget.

Even a simple herb garden will do the trick.

We plant loads of basil each year and turn it into pesto and seasoning cubes throughout the Fall and Winter months.

In the past, we’ve grown tomatoes, peppers, eggplant, beans, and raspberries in our back garden.

We plan to return to that, but for now, our in-law’s garden has SO MUCH that we just grocery shop there in the summer.

Related: How To Start A Community Garden

Rewards Cards

If you can use a reward or credit card to earn points or rewards and you’re not losing money, that could fund your savings plan.

Consider the shops you visit and use a rewards card even if you don’t go often.

Over time your points will increase, and you will see a reward you can redeem for products or money.

We’ve saved lots of money using our credit cards to pay for almost everything.

Of course, you should only use your credit card this way if you can pay it in full each month.

Related: How We’ve Saved Over 4 Million PC Optimum Points

Frugal Living Ideas For Getting Fit At Home

Over the years, I’ve created a home gym in our basement by purchasing second-hand workout equipment, including dumbbells, benches, and machines.

We also have a treadmill, a rowing machine, and a step machine.

Only buy what you will use and get rid of your gym membership.

The costs are too high, and I bet you probably don’t go as often as you should.

Although it depends on the person, most people would instead work out at home, but on the other hand, you might hate staying at home and prefer the company of others in a gym.

Consider your options and what works for you.

Minimize Housing Costs

So far, I’ve minimized costs by changing out the light bulbs for LED, weather-stripping the windows, adding insulation, sealing up any cracks or holes, and low-flow toilets and showerheads.

I consider anything I can think of or have researched my DIY savings plight.

Related: Household Savings Hacks To Reduce Costs

Shop Second-Hand/Sales First

You will almost always find us hitting the second-hand shops, garage sales, and buying used or new with tags by visiting various online websites such as eBay, Kijiji, LetGo, Varage Sale, and Facebook Marketplace.

You’d be amazed at how much money you can save.

Give it a try; you’ll see.

Related: Is Buying Second-Hand Clothing Worth The Money?

Frugal Living Ideas For Selling Stuff

We bought a product and paid taxes for it, and now we are done using it.

Instead of giving it away, donating, or throwing away our stuff, we sell it to make our money back.

There are plenty of occasions we donate items, but that’s only because the item is not a hot item to sell or a needed item at the church, such as baby clothes for needy parents.

The idea is to consider what you already own as money in the bank. Sell it for fast cash.

Think and prepare ahead.

Whether you are shopping for a house, consider seasonal shopping ahead of time.

We often find the best deals off-season because the demand for such products is lower, especially at second-hand shops or online selling apps.

Frugal Living Savings Include Negotiations

I never assume that I can’t negotiate for something unless it’s obvious you can’t, such as a ticket from a police officer for speeding.

Whether near-expiry food products, utilities, vehicles, or items I want to buy in bulk, I always ask for a discount.

There’s no harm in making an offer on something you want, even if it is second-hand.

Related: How To Negotiate With Rogers Communications

Own One Vehicle

Although I’d love to ride a bike to work or take the city bus, that’s impossible given the time frame and distance to my employer.

What we have done this past year was sell one vehicle and buy a truck that was used as a test-drive vehicle at the dealership.

Huge Savings!! $40,000 off the price tag.

With one vehicle, we only need insurance for one instead of two, as we’ve had over the past eight years.

DIY Projects Instead Of Hiring

I’m a DIY guy, but only for things I know I can do or attempt to do.

Regarding skilled trades, I don’t pretend I’m skilled, although I know the basics of some trades.

In the past, I’ve changed my oil; however, my new truck is under warranty and must be brought to a dealer.

Once that is over, I’ll return to doing it myself.

Time Of Use Electricity Frugal Living Savings Tips

We typically unplug appliances we don’t use and run the washer during the cheaper time of use rates.

Most of our clothes hang to dry, and those in the dryer are monitored.

The worst thing you can do is over-dry clothes costing you money, and let’s be real, clothes don’t like the dryer.

Our thermostat is pre-set at 21 during the day and down to 18 overnight during the winter months, which has helped us keep our electricity costs stable.

During the summer, we use the central air but only as needed to help reduce costs.

We used to watch when we cooked, but it’s not practical for those parents or individuals who don’t want to start cooking at 7 pm.

Using small kitchen appliances such as the crock pot, countertop oven, griddle, and toaster is a cheaper alternative for us rather than running the big stove and oven off-peak.

Buy Sale Only

This one is simple-buy what you need only when it is on sale unless you must get it and pay full price.

Source Price/Price Matching

Before you do buy at full price or even sale price, make sure you know your prices by checking other shops and services that offer what you need.

If you can price-match, don’t miss out on those savings too.

Adult Allowance

Yep, I get an allowance I’ve used every month, and if there is anything left, I add it to our savings account.

I also use my allowance to pay it forward if I go for a coffee at the shop or treat myself.

It’s really to spend on whatever I want.

Having an allowance has allowed me to control my urge to shop.

Limit Upgrading

You don’t need to upgrade everything you own or don’t own just because there’s a new, excellent version on the market.

Cell phones are the most significant upgrade people jump into, although each situation is unique.

Upgrading to the latest video game systems, televisions, tablets, computers, and new vehicles every year is unnecessary to save money.

Limit Health And Beauty Treatments

We get our haircuts from an in-home stylist who also threads Mrs. CBB’s eyebrows for five dollars.

We don’t need to go to expensive salons for these services.

Although I have benefits from work that fully cover massages and other health services for those that don’t either project your expenses for the year and save for them.

Mrs. CBB is also not a fan of fake nails, professional hair colour, styling, or fancy treatments that help keep women looking young.

She likes to age gracefully.

Do you know to get Botox filler in your lips is over $800, and it’s not even permanent?

We do splurge on the occasional pedicure for Mrs. CBB as she tends to have dry feet.

There are also health reasons that some people may need treatments, but those don’t count.

Grocery Shopping/Eating In

You’ll find anything and everything to do with our grocery savings in our Ultimate Grocery Savings Guide, from couponing, stockpiling, price-matching, sales, rewards cards, meal plans, and so on.

Have a read of what applies to you to understand the concepts better, which will help arm you with grocery shopping ammunition.

We limit our eating out to simple things such as the occasional muffin or pizza because we often pack snacks when on the go for ourselves.

Related: Copy Cat Tim Hortons Chocolate Chip Muffins Recipe

For example, on our recent trips to London to see my father-in-law in the hospital.

We packed a big bag of fruits, veggies, cheese, and proteins, including hard-boiled eggs, pepperoni sticks, and salami.

Related: Saving Money Packing Food For A Road Trip

Simple Appliances

It’s true that the more gadgets and the latest technology you stuff your home with, the bigger your bills will become, especially if appliances need repair.

To cut down on the excess amount of money spent on technological blips, we have an older electric stove, and a 15-year-old bottom-freezer refrigerator rated Energy Star.

Although it’s nice to have all the latest kitchen gadgets try to keep it simple and only own what you will use.

I understand how easy it is to get kitchen happy when shopping, mainly second-hand, as many items are on the shelves and online for sale.

Limit the number of pots, pans, bakeware, containers, water bottles, and so on to what you will use.

Many of you reading this right now can think of kitchen stuff you haven’t used in ages that are collecting dust.

Don’t waste money.

Your Savings Plan Begins Now

It’s essential to consider each budget category to see where you can cut costs to help improve your savings plan.

It’s better to save something than nothing, and I hope you can adopt some of our Frugal Living Ideas.

1. Train Your Brain To Save
2. Explore Your Options
3. Apply Self-Control
4. Fight The Urge To Compare

Discussion: What are some frugal living ideas that aren’t on our list but you use that help you with your savings plan?

Leave me your comment below after reading our January 2018 Budget Update!

Where Our Money Went In January

January wasn’t the best month we’ve had, by all means. Mrs. CBB took advantage of the clothing sales after Christmas, so the clothing category was higher than usual.

We’ve made some changes to our investments too.

Jr CBB also goes to daycare once a week to prepare for school, so we’ve added that category to the budget.

Gasoline was much higher than usual due to unforeseen travel, although gas prices have been higher lately.

The parking fees were from our various trips to the hospital, which was less than we expected compared to hospital parking in Toronto or even Hamilton.

You’ll also notice that our budget has a Christmas Reserve Fund category to help us save for Christmas food.

Our grocery budget was increased this year because our son is starting school, and he’s eating a bit more.

Mrs. CBB also lives the keto lifestyle and has experimented more with low-carb products.

That’s all from us!

Have you made any changes to your budget for 2018?

Mr.CBB

Our FREE Simple Budgeting Series

Do you want to learn to budget as we do?

Please take the time to read through our budgeting series, plus read Budgeting in the New Year. I hope the information will help stop you from making common budgeting mistakes.

1. How We Designed Our Budget Step 1– Gathering All the information
2. How We Designed Our Budget Step 2– Budget Categories
3. How We Designed Our Budget Step 3– Tracking Receipts
4. How We Designed Our Budget Step 4- Note-taking
5. How We Designed Our Budget Step 5– 5S Organization
6. How We Designed Our Budget Step 6– Who Does What and When?
7. How We Designed Our Budget Step 7– Balancing Our Budget
8. How We Designed Our Budget Step 8– Knowing our Coupon Savings
9. How We Designed Our Budget Step 9– Reading Our Bills
10. How We Designed Our Budget Step 10– Projected Expenses

Budget Percentages January 2018

Our savings of 26.94% includes investments and any savings for this month based on the income of $7765.83.

We put money away for the projected expenses that must be paid in the coming months.

The other categories were pretty standard this month, except the Life Ratio.

All categories took 100% of our income, which shows that all the money we earned for the month is accounted for.

Budget Percentages Month By Month

Breaking down expenses

Below is a breakdown of our expenses, which has helped us understand where our money goes.

Since May 2014, we have been mortgage-free, so much of our money will be directed at savings, investments, and renovations.

I appreciate that you enjoy this budget update each month.

However, I hope you view this as an educational tool rather than comparing your financial numbers, as our situations are all unique. 

Spending less than we earn and budgeting our money has been the easiest way for us to pay down debt and save money.

1. Chequing– This is the bank account from which all our debt is paid.
2. Emergency Savings Account– This is a high-interest savings account.
3. Regular Savings Account– This savings account holds our projected expenses.
4. Monthly Budgeted Total: $5,307.39
5. Monthly Net Income Total: $7,765.83
6. (Check out our Ultimate Grocery Guide to see where our grocery money goes)
7. Projected Expenses: These are expenses we know we will pay for throughout the year = $1967.68
8. Total Expenses Paid Out: $5,305.85
9. Total Expenses Paid Out: Calculated is $7,776.83 (total net monthly income) – $1,967.68 (projected expenses) – $492.30 (savings into emergency fund) = $5,305.85
10. Actual Cash Savings going into Emergency Savings: Calculated is $7,776.83 (total monthly net income) – $5,305.85 (actual expenses paid out for the month) – $1967.68 (projected expenses) = $492.30

Budget Results

Time for the juicy category numbers and to see how we made out with our monthly budget.

Below you will see two tables, one is our monthly budget, and the other is our actual budget for January 2018.

This budget represents 2 adults and a toddler plus our investments.

Budget color chart

If highlighted in blue that means it is a projected expense.

You will also see our budget does not include the emergency savings as it’s factored in at the end.

Budget For January 2018

Actual Budget Expenses For January 2018

Yes, I know I spelled Christmas incorrectly, and I will sort it out for the next budget update. 🙂

Budget Updates Month By Month

In case you missed our budget updates and want to do a quick search, I’ve compiled them on one handy page: monthly budgets.

For the 2018 year, I will also keep track of each month below and update the monthly budgets page.

• December 2017

That’s all for this month. Check back at the beginning of March 2018 to see how we made out with our February budget.

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• Spending cuts and increases: Budget Update Jan 2014