5 Frugal Habits That Won’t Make You Rich (But Are Still Worth Doing)
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Frugal Habits That Won’t Make You Rich
When it comes to managing money, it’s tempting to look for quick-fix habits that promise big returns or dramatic financial transformations. But sometimes, the value of frugality is less about hitting the jackpot and more about building smart, small habits that create steady improvements over time.
These five frugal habits may not make you rich on their own, but they’re worth keeping because of the impact they have on your financial mindset, lifestyle, and overall well-being. (Related: Download your mindful spending MONEY MINDSET BULLET JOURNAL — it’s your personal spending coach).
1. Making Coffee at Home Instead of Buying Out
You’ve no doubt heard this frugal habit before, and no, brewing coffee at home won’t turn you into a millionaire. But if you’re someone who enjoys daily coffee runs, you know how quickly the cost can add up.
Spending $4-$6 a day for a coffee may seem small at first, but it becomes a sizable monthly expense if it’s a routine. By making your coffee at home, you’re likely saving anywhere from $80 to $120 per month. What’s valuable here isn’t just the savings—it’s the intentionality. (Tip: Here’s how to never pay for coffee again!!)
Brewing coffee at home reinforces a mindset of thinking before spending. It encourages you to consider small, everyday choices that could easily be swapped for cheaper alternatives.
While you’re not going to build a fortune from it, those savings can be redirected into other areas, like a small investment fund or even just a weekend treat. The act of making coffee at home helps build discipline and fosters a feeling of control over your spending.
2. Meal Planning and Grocery Lists
Meal planning might not sound glamorous, but it’s a frugal habit that keeps you from wasting money and food. By planning your meals in advance and making a grocery list, you’re less likely to impulse-buy or let food go to waste.
This habit can reduce the amount you spend on groceries each month, especially if you tend to buy things that sit unused in the fridge. Going to the grocery store with a plan helps you avoid expensive last-minute takeout decisions, which can easily blow a budget. (Related: How to Meal Plan for the Week)
Even if the savings from meal planning aren’t life-changing, they add up. More importantly, this frugal habit creates a sense of intentionality around your eating and spending habits. Plus, home-cooked meals often turn out healthier.
3. Choosing Public Transportation When Possible
Taking public transportation instead of driving isn’t always the most convenient choice, and it won’t lead to massive financial gains in the short term. But if you have a public transit option that’s practical, it can save you significant amounts over time on gas, parking, and vehicle maintenance.
Reducing car use also extends the life of your vehicle, which could delay costly repairs or the need to replace it entirely. And let’s not overlook the environmental benefit—choosing public transit can help reduce your carbon footprint. You may even find some extra time to catch up on reading or listen to a podcast during your commute.
4. Using Reusable Products
Switching to reusable items like water bottles, coffee mugs, and shopping bags is a simple yet effective frugal habit. It may not seem like much, but choosing reusable over single-use items saves you small amounts that add up, especially with items you’re purchasing frequently.
It’s also an eco-friendly choice, which often brings a sense of satisfaction beyond just the monetary benefit. If you’re spending even $20 a month on bottled water, coffee cups, or plastic bags, switching to reusable alternatives can eliminate this cost. Reusable products typically last longer and pay for themselves over time.
5. Borrowing (or Buying Secondhand) Instead of Buying New
Instead of automatically buying new items, consider borrowing, renting, or purchasing secondhand. This can apply to anything from clothing and books to furniture and power tools.
Borrowing or buying secondhand requires a bit of patience and research, but it’s often worth it in terms of cost savings. If you’re able to borrow a power tool from a friend for a one-time project instead of buying it, you’re saving money on something you’d only use sparingly. When it comes to clothing, secondhand stores offer quality options at a fraction of retail prices.
Buying secondhand not only reduces costs but also contributes to a more minimalist lifestyle. You’ll find that borrowing or buying used helps you think twice before adding something new. It’s a small step, but this frugal habit reinforces a thoughtful approach to consumption.