THE BROKEN WALLET

*Disclosure: This page may contain affiliate links. We receive a small commission if you purchase something we recommend (at no cost to you). All opinions remain our own.

More lives to live more frugally…and keep more of your hard-earned money!!

Living a frugal lifestyle doesn’t mean depriving yourself of enjoyment; it means making intentional choices to get the most out of every dollar.

Need more ideas on how to live more frugally?! Here are seven unique ways to optimize your financial resources, whether you’re looking to save more, avoid unnecessary expenses, or simply limit buyer’s remorse.

1. Research “store specific” money saving tips

Before heading to a specific store, take a moment to do a quick Google search for money saving tips related to that store. You’ll be surprised by the abundance of articles and resources offering secret hacks and insider tips.

For example, did you know that creating a registry for a big-ticket item at Target could result in getting a 15% off coupon for un-purchased gifts remaining on your registry after the event date.

These type of store-specific strategies can help you live more frugally and make the most of your shopping trips.

2. Stop watching shopping hauls

Shopping haul videos can be enticing, but they can also influence your spending habits negatively.

Be honest with yourself and think about how these videos impact your finances. If you find yourself tempted to buy things you can’t afford or don’t need, it might be time to reconsider watching them.

Instead, explore alternative content like minimalism or decluttering videos to foster a mindful approach to consumption.

3. Clean up your credit

While frugality and credit may not seem closely related, there is a connection.

Living more frugally helps protect your credit by reducing the likelihood of relying on credit cards or financing items beyond your means. Additionally, having good credit can qualify you for lower interest rates on loans and insurance, leading to significant savings.

Take steps to improve your credit, such as paying bills on time and paying down credit card debt. If you need help in this area, consider using tools like Scoremaster, which creates a personalized plan to understand and improve your credit score.

4. Stop thinking that you deserve everything

Treating yourself is important, but beware of falling into the trap of thinking you deserve everything.

Justifying overindulgence with statements like “I deserve it” can lead to financial setbacks and impulse control issues. So strive for a balanced approach to splurging, and make sure that you’re prioritizing building an emergency fund, investing, and paying off debt.

5. Return things that you don’t need or use

You can also live more frugally by taking advantage of generous return policies offered by many stores. Also, implement the 24-hour rule for unplanned buys, which means giving yourself time to “think about” a purchase before making a final decision.

It’s important to be honest about whether the item meets your expectations. Returning items that don’t bring you joy or fulfill their intended purpose prevents wasteful spending…and saves you money in the long run.

6. Don’t be afraid to say “no”

Learning how to say no to social invitations or activities that involve spending money is also crucial to saving money. If you’re not careful, peer pressure can push you to overspend and compromise your budget.

Therefore, set limits and boundaries. And don’t hesitate to communicate your financial priorities honestly. Remember, you’re responsible for your own financial well-being.

7. Get enough sleep

Research suggests a link between sleep deprivation and poor financial habits.

This is because lack of sleep can affect our judgment and lead to impulsive spending or overspending. With that being said, prioritize getting enough rest to maintain clarity and sound thinking.

If you feel tired or groggy, postpone shopping trips until you’re well-rested. This helps you make better informed decisions.

Add to the list…did we miss anything?