I’m frugal. You might call me overly careful with my money, but I prefer to see it as “living within my means.” Whether you label it as thrifty, economical, or just plain stingy, this approach has kept my family afloat on a single income for nearly 20 years. While there have been moments when I’ve taken on freelance projects or part-time roles, it’s primarily the careful management of our finances that keeps us from falling into significant debt while living a comfortable life. However, what “comfort” means can vary greatly from one family to another.
Here are my frugal truths:
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Ditch the Car Payments
Forget the allure of that new car smell; driving your vehicle until it reaches its last breath is the way to go. Cars should be looked at as mere transportation, not as symbols of status. By opting for reliable, late-model used cars, you’ll be investing in your own savings instead of making hefty monthly payments to the bank.
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Embrace Hand-Me-Downs
Just last weekend, I sported a chic dress from Ann Taylor Loft that cost me only $4.50—originally priced at $85! Thrift store shopping requires a bit of patience, but the rewards can be substantial. As for my kids, they wear the clothes their older siblings outgrew until they’re completely worn out or until they reach an age where they want to choose their own styles.
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Leverage Borrowing and Trading
With four sons in sports, I’ve saved a fortune by borrowing and trading gear. Instead of buying new soccer cleats for $50, I ask other families if they have any to lend. In return, I offer outgrown equipment to families with younger kids. Most people are happy to share and trade—it just takes a little initiative.
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Cook at Home
Dining out can easily cost over $40 for a family of four, whereas a home-cooked meal might only set you back $10. Breaking the habit of eating out can be challenging, but it’s one of the easiest ways to enhance your savings and improve your health.
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DIY Haircuts
Cutting your kids’ hair is simpler than you think and can save you hundreds annually. A good pair of scissors and some online tutorials can go a long way. If you’re not ready to dive in, there are plenty of affordable haircut options out there.
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Be Wary of Hidden Food Expenses
While I don’t use coupons, I find numerous ways to save on groceries. Buying in bulk, steering clear of sugary drinks, and meal-planning according to weekly deals can keep grocery bills down. And remember, simple meals like cereal or sandwiches are perfectly fine!
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Mind the Small Expenses
Those little costs add up fast. For instance, a $4.75 latte twice a week totals around $500 a year. If you can’t part with your caffeine fix, consider cutting back on other small expenses, like dry cleaning or pricey hair products.
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Do Your Own Repairs
In the past few years, we’ve managed to fix our dishwasher, washing machine, and water heater—all without professional help. With countless video tutorials online, anyone can tackle repairs. Instead of a $350 bill, we’ve only spent about $60 on parts.
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Utilize Garage Sales and Online Marketplaces
What one person considers junk, another sees as treasure. Before making a significant purchase, check out local garage sales or online platforms. You might land a great deal on furniture or other big-ticket items.
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Value Character Over Clothing
When you finally have a little extra cash, it’s tempting to splurge on yourself, and that’s completely acceptable. However, consider using your savings to enrich the lives of others. Giving back feels far more rewarding than splurging on a new handbag, and it sets a wonderful example for your kids.
By the way, that used car we drove for over 13 years and 285,000 miles? We donated it to a nonprofit that needed it once we saved enough for another used vehicle. Being frugal pays off!
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Summary
Living as a thrifty mom involves embracing practices that prioritize financial responsibility while still providing for your family. From DIY repairs to creative borrowing, these ten truths highlight how to save money without sacrificing quality of life. Ultimately, being frugal allows for more meaningful contributions to both your family and your community.