Growing your savings is as simple as putting money into the savings account regularly and never withdrawing it. But life is not always easy. Things get complicated. Boxing day happens. Black Friday happens. Online shopping becomes more available than ever. And the urge to celebrate something, anything, exists more often than before the Covid lockdown restriction.
Here are 10 frugal habits you need to cultivate to grow your savings:
1. Set a Budget
Here is a post about what a budget is, where to start and how to stick with it.
2. Stay Dedicated to No Spend Commitment
Here are 6 tips on how to stay dedicated to no spend commitment, to make sure that there’s always money coming in to the savings account.
3. Avoid Unnecessary Spending
This means cut the use of electricity, ditch the big 5 things, reconsider or remove the top 10 things and be aware of false frugality. Most importantly, know the difference between wants and needs.
4. Choose Frugal Activities
Many people tend to spend their spare time doing mindless online shopping. Not only is it not healthy for the wallet but it’s also not physically healthy to sit for hours. Here are 20 frugal activities you can do indoor and 20 no-spend ideas you can do outdoors.
5. Make Your Own Meals
Here are 10 ideas on how to make delicious and healthy meals cheaply.
6. Always Carry a Bottle of Drinking Water
Carry a bottle of drinking water wherever you go so you are not tempted to buy drinks. Not only is it a cheaper option, it’s also a healthier option if you tend to buy sugary drinks.
7. Repurpose Items
There are plenty of ways to repurpose everyday items. Things like glass jars, plastic containers, empty toilet paper rolls, and ragged clothes and towels, can all be repurposed. Here are 10 everyday items you can repurpose.
8. DIY (Do It Yourself) Cleaners
Here is a post about how to make your own shampoo, dishwashing liquid and laundry detergent.
9. DIY Beauty Care
Why spend so much money to do your beauty care when you can do it yourself at home? There are numerous tutorials in youtube on how to do it. Here is how to do manicure and pedicure at home and how to trim your hair at home.
10. Have a Side Hustle
Having extra money is always good. You can spend and/or save it. Here are 7 ideas on how to earn real money online (real money, no scam).
