You may joke at how cheap your frugal friend is, but you’d be surprised at how much you can learn from them. People who are frugal are much better adapted to handle financial struggles that may come their way. Whether you need to create a budget or learn the coupon game, today I’m sharing lessons learned from frugal people.
Why are people frugal? Because they want to be in control of their money and achieve their financial goals. Does that sound like you? Maybe you want to save money and pay off debt but you’re not sure how to do it. No worries, because there’s lots you can learn from the habits of frugal people. Check out these 5 lessons learned from frugal people.
1. Create a Strong, Fail-Proof Budget
Frugal people know how to budget their money like a pro. Not only do they create a budget to meet their financial goals, but they make sure to stick to it so they will not fail. They know to make sure every penny is accounted for in their budget, even play money to spend on whatever they want. Don’t think you need a budget? Think again!!
2. Make the Most of What You Have
Another great trick you can learn from frugal people is to make the most of what you have. Whether it’s leftovers or old socks, a frugal person knows you can make a new meal with your leftovers or turn those old socks into a great craft. Spend some time learning how you can use what you have already on hand and you’ll soon wonder how much money you’ve thrown in the trash by not being creative.
3. Master the Coupon Game
Couponing is a lot of work, but the good news is that it all pays off. Frugal people have learned that using coupons and rebates can make all the difference on those days when you’re short on your budget. Scour the newspaper and internet for coupons you can use and check out coupon bloggers for updates on the best sources for coupons. My favorite way to save is with coupon and rebate apps on my iPhone. Learn more about them here.
4. Ditch Unneeded Expenses
Frugal people know when to cut unneeded expenses. When you’re trying to save money or pay off debt, it’s time to cut out those extra expenses you don’t really need. It might be a TV subscription service you never watch or all those cups of high dollar coffee drinks. Either way, stop wasting money on those extra purchases and you’ll soon be living frugally, too!
5. Save Big on Debt with a Phone call
Last, but not least, frugal people have learned how to reduce their monthly bills with a simple phone call. It might be a call to your credit card company to reduce your interest rate or a call to your satellite company to get a better price. You’ll learn that a few calls can save you thousands each year.
These are just five habits you can learn from frugal people, but trust me…there are more! If you have a frugal friend, ask them how to save money and really listen to their answers. You’ll find that the methods they use aren’t that crazy after all. Instead of seeing them as cheapskates, you may see that they have a better way of living and more money at the end of the month. Be sure that these lessons learned from frugal people are not simply forgotten, but incorporated into your lifestyle. Pretty soon you’ll be a frugal person, too!