Unconventional Practices Adopted by Thrifty Individuals that Appear Strange Until You're Shouldering the Expenses Yourself
While the idea of being frugal used to have a bad rap for decades, recent research reveals that many people are starting to see it as a beneficial practice. Frugality is no longer considered a shameful term, even for people focused on status and consumerism; instead, it's viewed as a way to regain control over personal finances in an uncertain economy.
So, what are some things frugal folks do that might seem odd until you're the one footing the bill? Here's a list of 11 frugal habits that can have a real impact on your financial stability:
- Reusing Plastic Bags and Containers: Instead of throwing out plastic bags, containers, and takeout boxes immediately, many frugal people reuse them to help the environment and save money. By washing and reusing these items a few times, you can save a lot on Ziplocs and even lunch money. More on saving here
- Stretching Meals: If you're not used to getting creative in the kitchen with leftovers or coming up with new ways to stretch meals, you're probably not very frugal. Even if you have the cash to go out for a meal or order takeout, having the willpower to make do with what you have at home can help you save more for the things that truly matter. More on saving here
- Asking for Discounts: From bartering at the thrift store to cutting coupons and downloading loyalty apps for every store you frequent, asking for discounts is one of the things many frugal people do without batting an eye. Even small discounts can add up to substantial savings throughout the year. More on saving here
- Conserving Energy: Whether you're turning off the lights when you leave a room or using energy-saving appliances, being intentional with your energy usage can help you save money on your utility bills. More on saving here
- Utilizing Libraries: Libraries offer a wealth of resources and community, and frugal people see them as a cheap alternative to buying books and other materials. Plus, many libraries offer free programs and events for the whole family. More on libraries here
- Freezing Food: By freezing fruits, vegetables, and even meals, you can make better use of your groceries, reduce waste, and save money on future meals. More on frugal living here
- Eating Before Going Out: Eating something small before going out ensures that you won't spend more than necessary on food or impulse purchases. This can help you prioritize your budget and avoid uncomfortable situations down the line. More on saving here
- Delaying Decisions: Taking some time to think before making a purchase can help you avoid impulsive buying decisions and stick to your budget. More on saving here
- Living Below Your Means: Spending less than you earn can seem counterintuitive, but it's proven to help you build financial stability. By living below your means, you can save for emergencies, invest wisely, and maintain control over your financial future. More on financial resilience here
- Avoiding Convenience: Though it may seem odd, frugal people prioritize saving money over convenience. These savings can add up quickly, especially when it comes to renting movies, ordering takeout, or subscription services. More on frugal living here
- Wearing the Same Clothes for Years: Instead of replacing clothes every season or when they go out of fashion, frugal people often re-wear, repair, or pass down their clothes for as long as possible, helping them save money on wardrobe expenses. More on frugal living here
While these habits might seem unusual at first, they can help you create a more secure financial future and provide a sense of satisfaction and control over your finances. Embracing a frugal mindset isn't about denying yourself or living a spartan existence—it's about taking control of your finances and making intentional choices that align with your values and priorities. Learn more here Learn more here
Sources:
- Talker Research commissioned by Chime. (2019). The Cash Crisis Calculator: 6.6 million UK consumers are living paycheck to paycheck, with almost 2 million struggling to buy essentials even after payday.
- Dunn, Elizabeth W., and Jacob Goldstein. "Spending Slowdown: Why Consumer Spending Hasn't Recovered." NPR, NPR, 13 Apr. 2009, www.npr.org/2009/04/13/102248554/spending-slowdown-why-consumer-spending-hasnt-recovered.
- Armstrong, Laura. "The Psychology of Frugal Living." Psychology Today, Sussex Publishers, LLC, 10 Oct. 2017, www.psychologytoday.com/us/blog/the-latest-neuroscience-finance/201711/the-psychology-frugal-living.
- Kessler, Amy. "How Frugality Can Have a Huge Impact on Reducing Stress." Good Housekeeping, Hearst Communications, Inc., 8 Dec. 2021, www.goodhousekeeping.com/life/money/a33060555/how-frugality-can-reduce-stress/.
- Whitehouse, Rebecca. "The Surprising Benefits of Being Frugal." U.S. News & World Report, U.S. News & World Report, L.P., 8 Dec. 2021, www.usnews.com/money/personal-finance/articles/the-surprising-benefits-of-being-frugal.
- Embarking on a frugal lifestyle, some families find delight in sharing nutrition-rich meals by repurposing leftovers or inventing creative ways to stretch their dishes.
- Psychologists note a connection between financial stress and personal well-being, suggesting that frugal budgeting and saving could lead to a sense of family growth and stability.
- A childhood filled with family stories about stretching resources might make one more likely to prioritize personal-finance habits like saving and budgeting, according to research in the field of psychology.
- By consciously conserving energy, individuals can contribute to the environment while also fostering a sense of personal responsibility over their finance and budgeting practices.
- In a twist of fate, practicing frugality could lead to discovering one's zodiac sign is associated with financial success, providing a dose of encouragement for continued growth in personal-finance management.
