10 Old-Fashioned Habits People Should Bring Back To Start Living Frugally Again
You'll find financial stability in no time.
Alliance Images / Shutterstock According to CNBC and SurveyMonkey's 2024 Your Money International Financial Security Survey, 58% of Americans consider themselves as living paycheck to paycheck. With rent, mortgages, and groceries being so expensive, everyone wants to know ways they can save save just a little more money.
Living frugally doesn't need to be difficult; in fact, you may find yourself at a fiscal advantage once you adopt a few habits. And they are habits we should all start bringing back.
Here are 10 old-fashioned habits people should bring back to live frugally
1. Make gifts at home instead of buying them
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When someone's birthday is coming up, we go online or rush to the nearest store to get a birthday gift. While the gesture is nice, it can end up costing a pretty penny.
If you want to live more frugally, consider making a gift instead. Try baking delicious treats or painting a portrait. Or, you can even try sewing an outfit instead of going out to buy one.
Regardless, creating a gift at home will not only save you tons of money, but it will also show the person just how much you care about them.
2. Repair things, don't replace them
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When something breaks down, we have a habit of throwing it away. Whether it's clothing, machines, or electronics, it's a very wasteful practice. Luckily, you'll not only save a few bucks, but you may feel pretty accomplished with yourself after choosing another method.
Before you throw in the towel from frustration, try fixing the item first. If your clothes tear, sew them up or take it to a seamstress. Maybe you even know someone who is good with a needle and thread. Or, if a machine breaks down, look online for possible solutions. There are surely YouTube videos on the exact machine you're trying to fix.
3. Find creative ways to use items up completely
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Don't throw that leftover food away; instead, reuse it and create something new. For instance, if you have leftover spaghetti sauce, maybe use it in lasagna or baked ziti. Or, if you have leftover fabric, sew it into a handkerchief or rag.
It's important to use up what you have and resist the urge to throw things away easily. After all, finding creative ways to use up what you have, instead of automatically throwing it in the trash, is bound to save you both money and time later down the road.
4. Carpool more often
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It seems like people rarely carpool nowadays. But in order to live frugally, the old-fashioned habit of carpooling with other people can be a lifesaver.
According to Green America, "Every empty seat in the hundreds of millions of cars on the road represents a missed opportunity to save money, reduce traffic and pollution, and build community through a shared ride." They cite that carpooling leads to saving money on gas, creating less carbon dioxide emissions, and presents the opportunity to connect with other people.
So, if you live near a co-worker or friend and happen to be heading in the same direction, tag along. You can even suggest taking turns and using each other's vehicles.
5. Only buy clothing on sale
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The smartest move you can make in adopting old-fashioned, frugal habits is to only buy clothes that are on sale. More often than not, when you shop during the summer, you might notice great deals for clothes in the winter, and vice versa.
But if you don't see any great sales, try couponing instead. One study found that using coupons could save the average household $1,465 per year! And that adds up over time, saving you big bucks in the process.
So, don't be afraid to get your coupon book out and organize yourself before heading to shop.
6. Grow your own fruits and vegetables
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Another habit that's key to being frugal is growing your own fruits and vegetables. According to Iowa State University Extension and Outreach, gardening has the potential to save money if done correctly.
The trick here is to limit cost while maximizing yield. Meaning, don't focus too much on buying the most expensive products out there to garden with. Additionally, don't buy things you aren't excited to eat. Purchasing fruits and vegetables you dislike will cause you to take care of them less.
7. Cancel your streaming services
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Remember when people bought streaming services because it was cheaper than cable? Well, not so much anymore.
According to Forbes Home in partnership with market research company OnePoll, 45% of those polled had canceled a streaming service within the last year because the cost was too high. The survey also found that Americans spend an average of $46 per month on streaming services.
Understandably, people don't want to cancel their Netflix or Disney+ accounts, but to live frugally, you need to decide which services are or aren't worth your dime.
8. Design a budget and stick to it
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Don't underestimate the power of budgeting. According to research, mental budgeting leads to financial well-being and decreases financial stress. And it's something we could all learn to do a little bit better.
To save money and begin living frugally, follow the 50/30/20 rule: budget 50% of your money for needs, 30% on wants, and 20% on debts and repayments.
9. Buy in bulk
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Do you have a Sam's Club or Costco near you? If so, decide to shop there and buy your items in bulk. Goods like toilet paper, pantry staples, or baby products might be useful to buy in large quantities since they are more likely to be sold at a discounted price.
Just be careful to not go too crazy and only buy things that aren't going to rot in a few weeks! That means don't buy produce in bulk, only items that can go a long way.
10. Sell items you don't need instead of throwing them out
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Have you ever tossed out something expensive without a second thought? Doing this can be such a waste of money and isn't really frugal living. Instead, sell the things you don't want.
Use platforms like eBay, OfferUp, or even Facebook Marketplace to get your items out there. Or, if you have multiple things you need to get rid of, throw a garage sale. You will be taken aback by the amount of money you can make. Because what you may consider trash may be treasure to someone else.
Marielisa Reyes is a writer with a bachelor's in psychology who covers self-help, relationships, career, and family topics.