Inflation has recently hit a 40-year high, and we’re all feeling the effects. What once was a simple trip to the grocery store can now leave a huge dent in our wallets, and the current gas prices are deterring many of us from taking those late summer road trips. So whether you have a stable income or you’re currently living paycheck to paycheck, we could all use some tips that can help us stretch our money.
To help you pandas get the most out of your dollars, pounds, euros, renminbi, etc., we’ve gone through the Financial Independence subreddit’s Frugal Friday threads to round up some of the smartest and most practical money-saving tips we can all start implementing. Be sure to upvote the recommendations you find most helpful, and then let us know in the comments what your personal favorite tips and tricks are for saving money. Then, if you’re interested in gaining even more personal finance knowledge, you can check out another Bored Panda piece featuring tips that will get you the most bang for your buck right here.
#1
I cut waaaay back on unnecessary shopping. I never liked going to malls or shops but do like looking at “stuff” online while I listen to podcasts. But instead of buying anything, I save the links into a dedicated bookmark folder. By the next time I look at them, they are either gone or I’m no longer interested. Very few (if any) pass the time test.
Image source: skate216, Jacek Dylag
#2
I never buy the latest model phone or computer. This year’s $1,000 phone? It will be $300 in three years and I’ll buy it then, new. It will still be a huge improvement on whatever I’m replacing so it will make me happy. Staying three years behind the bleeding of tech is a great way to save money.
Image source: [deleted]
#3
I called my internet provider to tell them I was thinking of switching unless they could give me a better rate. They just gave me 35% off per month. Not a huge amount, but it’s nice to trim the budget a little.
Image source: DoctorFI_ER, Misha Feshchak
#4
It’s our one-year anniversary today. I want to make people aware of a diamond alternative called moissanite. It’s lab-grown and looks just as good, if not better than the real thing. Our engagement ring stone is about 1.5 carat size, which can cost $10k-25k depending on clarity. Our moissanite ring cost about $550 and was custom made to our liking.
Image source: YW55
#5
I’ve been trying to actively practice gratitude for several years now as a mental health thing, and one unexpected effect is that it has made me more frugal. When I take the time to truly appreciate what I already have, my wants are less.
I’ve always been fairly frugal, but my general attitude has gone from “I’d like a new sweater but why should I spend the money when this one still fits fine?” to “Look at this f**king amazing sweater I own!” and not even thinking of buying a new one (unless I actually NEED one, of course). It’s nice.
Image source: PizzaFi
#6
Before I buy anything brand-new, I shop for it used–but in perfect condition–at not more than 10%-30% of the brand new price. Facebook Marketplace or Craigslist, resale shops. Same stuff, but at 70-90% discount. You would not believe how often you can find exactly what you want. People sell every kind of stuff.
Image source: Umble-Varrior, Martin Engel
#7
I got an extra trash can and put it outside, so when it rains, I collect that natural water. In my area, it doesn’t rain much. I then use this water as irrigation for my backyard. Saves on the water bill a little bit.
Image source: royhenderson771, reza shayestehpour
#8
I haven’t ordered take out in 2.25 years.
Image source: Plain_Chacalaca, Erik Mclean
#9
My local produce market often sells discounted bags of fruits and veggies that are past their prime. Last week I got a huge bag of bananas for $3. I mooshed up the squishiest ones and put them in freezer bags to use in banana bread, and the rest I sliced up and froze for use in smoothies. This particular market runs Fri-Sun, so if I go on Sunday afternoon I can usually get some great deals, as long as I’m willing to do a little work chopping and freezing afterwards.
Image source: PizzaFi, Marisol Benitez
#10
I belong to a planet fitness ($10 a month + yearly fee). I started bring a gym bag and showering and shaving there to cut back on my water bill. I get my water bill and a few days so we will see how much lower it is.
Image source: P_Cil, Hannah Xu
#11
This really depends on your area…but here, people live in small spaces and often get rid of stuff for cheap or free. Just taking a walk, sometimes you can find really good stuff, in great condition. You leave something you don’t need anymore on the sidewalk, and it disappears to someone else’s home in 30min. I grew up in this city, and almost our entire apartment was furnished in found items or neighbor discards.
Today we got suuuper lucky; my husband was out on an errand and noticed a neighbor was getting rid of a fridge! We were actively shopping for a new one, since our current fridge is breaking. This found fridge is $1000 new, got it for free and got to know a neighbor a little better. A daily walk is good for your body, mind, AND wallet
Image source: bahala_na-
#12
I make home made meals and only eat when i’m hungry and I don’t over eat to help cut cost. I also thrift shop when it comes to clothes also walk in town to my local grocery instead of using gas. I stay busy with work/hobby so I don’t get bored and then get into the mood of spending.
Image source: MetalMamiii, Kevin McCutcheon
#13
My aunt is retired and great at couponing. She finds name brands at extremely cheap prices. A few times a year, I give her $20 or $30 and she gives me a box of stuff she couponed. Usually TP, dish & laundry soap, razors, deodorant, makeup, hair care. Sometimes clothes. Helps me a ton & she finds it fun.
Image source: Status_Change_758
#14
I’m not a huge music person. I like it, but I don’t listen every day, and my interest comes and goes. I listen to more podcasts these days.
That said, I’ve found that I can unsubscribe from Spotify Premium when I get “bored” of music and within a few months I’ll get an offer to rejoin on a 3 months for the price of one offer. Happens routinely now.
Image source: paintballer2112, Haithem Ferdi
#15
I make my own chicken stock. Buy Costco rotisserie chicken and save the bones. Add veggie scraps saved up in freezer and herbs from my garden. Instant pot for 2 hours and BAM. My secret weapon for making everything super tasty. So much better than store bought chicken stock and powders. Also zero waste.
Image source: megaspicyfire, Bluebird Provisions
#16
Eat less to stretch the dollar. Make your own food if you can. Fast foods are ridiculously pricey lately.
Image source: donquizo, Olesia 🇺🇦 Buyar
#17
Still driving my almost 20yo sh*tbox 200k+ Japanese car. I really want to buy a used Lexus but refuse to give in.
So long as this sh*tbox keeps putting around despite its leaky roof, no radio, damaged interior, cracked windshield rust spots and no inspection sticker since 2018 I will keep driving it.
Image source: Jaysons_Tatum, Erwi
#18
My girlfriend has a favorite restaurant but notoriously wouldn’t be able to eat her whole meal. Now, whenever we go, we share the meal and get an appetizer. This has trickled into whenever we are eating out, we typically split the meal.
Image source: EliteYager, Jakub Kapusnak
#19
My wife and I are mainly tea drinkers, but will occasionally buy a fancy coffee drink to mix things up. In the last year our local coffee shop has gotten just crazy expensive. We were at about $7/drink with tip, which felt outrageous. So I bought a little moka pot for $30 and started making drinks at home. I can use whatever kind of milk I want (almond, oat, coconut, or dairy), and sweeten it the perfect amount. I daresay the drinks are better and the moka pot has already paid for itself. I heavily disagree with sentiment of “stop buying fancy coffee and you’ll be able to buy a house, Millennials” but in our case it definitely helps keep us within our eating out budget each week.
Image source: the_lemon_lobster
#20
My main approach:
– Put my wants on a want list (literal or mental), but wait 6+ months before I can purchase.
The impact is 80% or more of wants never materialize. It was either a spur of the moment purchase idea that fades, or I find alternate ways to address the want.
Examples:
– New porch furniture (since our current is uncomfortable)
– new couch (since that is uncomfortable too :-)
– larger flat tv for bedroom
– Backyard deck or patio
– Shed for storing things (we have small, single car garage only)
– PS4 game system and game room
– New fridge (just for looks)
None of these materialized after going on the list. I came to value the savings vs. the spend, and make do with what we have. Works for us.
Image source: but_um2
#21
I make my own soap and hand wash. It’s quite therapeutic, fun, saves me money and reduces plastic waste.
Image source: shekbekle, Sincerely Media
#22
I’m big on yard sales and thrifting and flipping the things I already have and using that money specifically to buy clothes and shoes. I hunt for high quality gently used brands priced for a steal and I only seek things I actually am in need of. For my birthday next month I have a big bag of clothes and purses and things and plan to turn it all into my favorite thrift store for in store credit and use that for a shopping spree in the store as a gift to myself! Other than that I do the little things like making my coffee at home, we buy creamers we love so the coffee is delish. My biggest problems are eating out but I’m getting better at meal planning for the week and cooking even though I HATE cooking!
Image source: alexitam14, Clem Onojeghuo
#23
A month ago I spent $800 on home-gym equipment. Now I have enough to do almost all the main movements I would do in a commercial gym, just steps away, in my basement. It’s a huge time saver and most of the stuff I got will last indefinitely.
Image source: finallyransub17, Brian Wangenheim
#24
Well, for a scant few hours of my time, I’m the proud owner of 3 dozen quarts of applesauce with another 3 dozen worth nearly done. And my dear sweet apple tree has dropped mayyyyybe 10% of its apples.
I should finally invest in a cider press, but the 25gallons of currently fermenting liquids don’t really need more company.
#RuralPeopleProblems I suppose.
Edit – my apple-addled brain needed re-formatting.
Image source: GingerThursday
#25
I’ve been taking doordash trips in the direction i’m heading for longer drives to get my wife’s fancy sour dough bread & composting. Now I can write off my mileage and I can usually make enough to pay for the bread & entire trip. BOOM.
Image source: Edmeyers01, Marques Thomas
#26
We have several cats, and we make their food. Cheaper than buying the expensive cans, and gives them better nutrition, so less visits to the vet
Image source: Picard-Out
#27
I (25F) initially lived with my sister, whose also in her mid 20s. Our youngest sibling asked to move in with us to go to attend the university nearby (15 min away). Instead of getting a 3 bedroom apartment, we kept the 2 bedroom apartment and used a room divider to turn the living room into a 3rd bedroom.
Image source: le1236, Patrick Perkins
#28
Online shopping tip- install a chrome extension for reverse image searching and use it before you buy anything. Sometimes things are sold on multiple online retailers at different prices. I just switched from buying a sofa on wayfair to Target.
Sometimes products are being dropped shipped from aliexpress, especially when it’s a shopify site you get to from a FB ad. Reverse search might find this if the seller is too lazy to take their own pics, but long shipping times are a good clue as well. I ordered a garden tool recently, then discovered I could have bought it for less than half on aliexpress.
Image source: catjuggler
#29
We just got a free trial of a meal kit delivery service for next week. They give them to current users to give to their friends to entice new customers to join. We noted down there us 4 in our household so we are getting 20 meals (5 days x 4 people) delivered for free. This is the 3rd free trial we’ve had.
Image source: jka8888
#30
Hungryroot referral program is $50. They have great snacks and decent organic meat.
Image source: Tiedup_tight
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