10 Best Ways to Live on the Cheapest Budget

10 Best Ways to Live on the Cheapest Budget
ⒸAlexander Mils / Unsplash

From A Dime Saved

With rising costs and inflation, there's never been a better time to embrace a more frugal lifestyle. Recently, someone posted, "What are some frugality tips for living as cheaply as possible?" Here are the top-voted responses.

Read More: How to Calculate the Right Amount of Savings for Your Budget

1. The One In, One Out Rule

"I have a rule: I don't buy something unless I give something away. It makes me think long and hard about the things I truly love and whether buying something new is worth it," one person shared.

2. Have a Don’t Buy Anything Month for Mindset Change

"You could always start with something simple like clothes or restaurants. I did a don't buy any clothing for a year. It made me realize how often I was buying things only to buy them," reflected one person.

3. Find New Hobbies

"Indulge in new hobbies. Just because you've fallen on hard times doesn't mean you can't enjoy life frugally. So read some books or comics that you've borrowed, watch some classic films or documentaries, listen to a new genre of music, go on walks," replied one.

"Also, find out what your library offers other than books. Ours offers musical instruments and access to streaming foreign films and magazines for viewing on your electronic device. Some libraries have tools, 3D printers, and seeds. Visit your local library often," shared another.

4. Alternate Forms of Transportation

"If you can, cycle or transit to where you need to be. If you're transiting, download some music or audiobooks to pass the time. But if you can't function without a car where you live, this tip won't be much help," one person commented.

5. Budgeting

"Track every dollar spent. Question each of your expenses," one person said. "We started using You Need A Budget earlier this year, forcing us to look at every dollar we spend. It has been a remarkable mental shift. You need a budget," someone shared.

Read More: Where to Save Money on Home Decor

6. Check the Fees

"Be very cautious about ongoing fees of any kind: phone, streaming, the software and media you don't own, printer ink, maintenance contracts, equipment rentals, etc. That is where the profit is for providers, and the loss is for us," replied one.

7. Join Neighborhood Buy Nothing Groups

One person suggested, "Join your neighborhood's local Buy Nothing group on Facebook. If you need things, ask or wait to see what your neighbors give away. My group has everything from groceries to clothes to concert tickets."

8. Perform Basic Maintenance and Upkeep Yourself

"Do basic maintenance on home or cars yourself, instead of paying a professional. I mean BASIC, as in an oil change for your car, housekeeping at home, and even canceling things like personal trainers for that all-important maintenance on your body," another volunteered.

9. Shop at Aldi and Stop Eating Out

"Aldi is very cheap for groceries. I did this when I was unemployed during the lockdown. One person stated that you could eat quite well for a small amount of money if you cook simple meals”

"Not only prices, but your time has a monetary value too. Also, Aldi has speedy service, and you can get through the place buying everything you need fast," one person replied.

"The number one thing people waste ridiculous amounts of money on is eating out. Also, stop using Uber Eats and Door Dash to destroy your chance of ever saving any money," another added.

10. Find Free Sources of Entertainment

"You can live without Netflix and Hulu for a month. YouTube has tons of free content, movies, and shows. Tubi and Pluto TV have free shows," someone shared.

Another volunteered, "Check out what's on offer at your local community center. For example, do they offer a pass for people experiencing financial hardship? If yes, try to take advantage of this. Also, do they offer discounted swim, skate, or fitness sessions if not?"

Read More: How to Calculate the Right Amount of Savings for Your Budget

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Lifestyle Magazine: 10 Best Ways to Live on the Cheapest Budget
10 Best Ways to Live on the Cheapest Budget
With rising prices and inflation, there has never been a better time to adopt a more thrifty way of life. Here's how to live on the cheapest budget.
Lifestyle Magazine
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