10 FRUGAL SKILLS YOU NEED TO SAVE MONEY AND LIVE THE GOOD LIFE

Waste neither time nor money, but make the best use of both. Without industry and frugality, nothing will do, and with them everything.”  ~ Benjamin Franklin

You can do a lot with money.

In fact, you can outsource almost your entire life.

Get someone else to cook for you, to clean for you, to do just about anything for you.

But if you’re one of us mere mortals who doesn’t have unlimited funds, then saving money on everyday expenses frees up money to spend on things that really matter and give us joy.

Here are 10 of the essential skills that will save you money.

ESSENTIAL FRUGAL SKILLS

1. PLANNING AND ORGANISATION

It is pretty darn hard to be frugal without the ability to plan ahead and be organised.

Budgeting your money effectively requires you to set goals, organise your finances and save up for things.

To save money on the groceries, you need to menu plan.

To save money on anything you buy requires you to shop around in advance and keep an eye out for sales.

Your home and car need to be maintained regularly to save on costly repairs.

Take the time to set up household systems, time management systems and household management systems and other organisational systems to save you time, money and stress.

2. FINANCIAL MANAGEMENT

It’s no surprise that managing your money is an essential frugal skill.

Good financial management keeps you out of debt, reduces your stress and allows you to reach your financial goals.

Budgeting doesn’t have to be complicated. It’s actually just a matter of prioritising.

3. CREATIVE THINKING

It’s easy to go out and buy something to fill a need or solve a problem.

It’s much more satisfying to reimagine a frugal alternative.

Reclaiming, reusing, recycling and repurposing is an art form that not only save you money, but it’s a whole heap of fun.

The trick to repurposing is to look at your problem creatively from two angles:

  • How can I solve this with the stuff I have?
  • How can I reuse this instead of throwing it away?

Then get creative.

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