10 Ways to Be a Little More Frugal in 2024
If you live in the United States, especially in Florida, you already know that inflation is an ever-pressing issue that people always talk about. With good reason - particularly food, gas, and housing costs have all risen dramatically and many families are struggling to meet their basic needs. According to multiple articles on this topic, Florida is considered a hotspot for inflation, mostly because of its growing population (lucky us!). That’s unfortunate but I truly can’t imagine living anywhere else, at least not permanently. Florida, despite its reputation and questionable politics, is home for us. It’s where our families are, where we’re raising our children, and where we work. Whenever I leave the state for any reason, I find myself yearning to go back home, where the heat and sunshine live.
As far as the inflation issue, my family and I have been pretty fortunate compared to some others; we have been able to maintain steady employment and keep up with constantly growing rent prices. However, there is a thin line between “financially comfortable” and “a financial crisis.” For that reason, I do my best to implement some frugal habits without being a total cheapskate.
Here are some ways you and your family can be a tiny bit more frugal in 2024:
Start by creating a list of all of your monthly expenses. I use the Notes app on my phone to do this and I am constantly updating it. I have three columns - category, amount, and due date.
The category column would be things like, “rent,” “electricity,” etc.
In the amount column, you would put in the total amount due for that category for each month. For things like electricity that vary month-to-month, put in an estimate and round up. If you end up paying less than the estimated amount, you’ll be happier for it.
As for due date, you put in the date that it is due each month. Each bill is listed in chronological order of when it’s due.
This method is very simple and it prevents me from having a bill debited from my bank account unexpectedly.
Next, create a zero-based budget. Admittedly, I got this idea from Dave Ramsey. What I do here is estimate how much I’m going to make on a particular paycheck and then list out every bill/expense that is going to need to be paid with that paycheck, including things like food, gas, baby items, etc. I assign every dollar to a particular expense. Whatever is left is assigned to things like credit cards, savings, or something else. Make sure to include one-off expenses like birthdays, holidays, parties, etc.
Buy generic for almost everything. There are very few things that I’m not willing to buy the generic version of. In most cases, the generic version is basically the same as the brand name but there are some exceptions. For example, we always buy on-brand toilet paper in our house…
Be willing to buy used items. Used doesn’t always mean less quality. In fact, almost all of the furniture in our house (other than things like our beds and most of the baby’s stuff) has been used and then gifted to us by family members. The wooden round table in our dining room was bought by my mother probably 20+ years ago and it has no foreseeable expiration date.
Work on minimizing your expensive vices. This one is going to be tough for some people and is definitely something I still struggle with at times. I’m not a person who loves cooking so I have a habit of ordering take-out or picking up food which can get very expensive. It doesn’t help that I absolutely love absurdly expensive coffee. I do try to keep these luxuries to a minimum, but I still give in way too often. If you’ve got a smoking/vaping habit, nicking that is going to save you lots of money, too. I just kicked my vaping habit once and for all (18 days free!) and it’s going to save me between $100-$150 per month. It will also be better for your health, which could save you medical expenses in the future.
Do your best to tackle your debt and avoid accruing more debt. I just managed to pay off my car and I am planning to drive that thing for as long as it will drive, so going forward I’m going to be saving nearly $350 per month. In my opinion, financing a car is huge money drain and I don’t plan to do that ever again if I can avoid it. I am also working on tackling my credit card debt, and I avoid using those credit cards at nearly all costs. I would use them in a dire emergency and that’s it. Once those are paid off, I’ll be saving over $100 per month in credit card payments.
Cut down on your subscriptions. There are a million subscription services these days - Netflix, Disney+, Hello Fresh, etc., not to mention every app seems to want you to pay a monthly fee nowadays. My advice is to avoid most of them; keep just a couple of subscriptions that you know you will use on a regular basis. My two subscriptions are Netflix and Discovery+. We use these nearly every day so it’s worth it for us. It’s not easy though; I did not enjoy giving up my Audible subscription.
If you’re job-hunting, look for something remote or hybrid. This one won’t necessarily be easy, depending on what career field you’re in, but it will be worth it because you’ll be saving money on gas and work clothes, and you’ll be able to cook food at home more easily. Plus, you’ll have more time to spend with your family without the commute, which is a win for everyone.
Don’t go insane for birthdays and Christmas. I’m a firm believer that you do not need to spend money you don’t have, or put yourself in a tough financial spot, to show people that you love them. This past Christmas, I resolved to buy my daughter “only” 3-4 gifts (knowing full well that she would be getting tons of gifts from other people anyway), and I am probably going to continue that in the future. Not only did that save me money, but it also saved us from having even more Christmas clutter in our house. I also only buy Christmas gifts for a short list of people - my parents, my partner, our children, my sister, and her children. That’s it. I love my aunts, uncles, cousins, etc., but I simply cannot afford to buy gifts for dozens of people every single year, and I’m not going to try to.
Minimize your use of disposable items. This doesn’t necessarily mean cutting them out entirely - just reduce your consumption. Disposable items include things like water bottles, paper plates, plastic utensils, paper towels, feminine hygiene products, and much more. By using a reusable water bottle, opting for reusable rags instead of paper towels, and switching to a menstrual cup (instead of pads or tampons), you could possibly save yourself tons of money over time.
Bonus!
Check out your local library. They don’t only have books. They have tons of media that you can take advantage of for free - ebooks, audiobooks, movies, not to mention access to the internet if you’re looking to cut back on that bill as well. Some libraries also hold public events that could be fun for you and your little ones.
XOXO, Alexis.