The average American spends just over $100 per day. While much of this money is used for necessities, such as food, medicine, and house payments, some of it isn’t.
It’s actually amazing how many things we buy that we don’t technically need. This means that there are a lot of places where we could be saving money.
Though it may seem difficult at first, adopting some frugal living ideas can make your life much easier. Consider whether you really need everything you’re buying. The answer is almost ‘no’.
We’ll give you a few ideas for saving money in the paragraphs below.
1. Get Rid of Cable
Getting rid of things, especially services, you don’t need is always a great way to save money. Among the most expensive services you pay for is cable.
According to Consumer Reports, cable companies artificially inflate their costs over time. What started out as $50 investment may keep growing month after month until you’re paying $200 per month or more.
The good news is that the cable industry may be shooting itself in the foot by raising prices. Assuming your cable bill costs $200 every single month, You can subscribe to Netflix, Hulu, HBONow, Amazon Prime Video, Disney+, and the horror-exclusive streaming service, Shudder, for $55 per month, give or take. Even if these prices were twice what they are now, you’d still be saving nearly $100 per month.
Imagine what you could do with an extra $100 every month.
The pharmaceutical industry is known for being crooked as well. Prices for medications, particularly brand name medications, continue to rise year after year.
Drug manufacturers claim that the high prices are the result of research and development, but many doubt this claim. Part of the issue is that it’s not just new medications that are getting price hikes. Things that have already been available for a while are also getting more expensive.
There is insurance, but insurance isn’t always enough to pay for medication. Whatever the reason is for the yearly price increases, it’s always a good idea to save money if you can.
Keep in mind that there is a caveat to this. Don’t ditch a legitimate medication for something that isn’t proven just because it’s more affordable.
3. Create a Meal Plan
Have you ever wondered how much you spend on snacks, sodas, your daily coffee order, meals out, and similar expenses? Chances are it’s quite a lot. Some of the best frugal living ideas involve buying only what you need.
Creating a meal plan and buying with purpose can stop you from blowing money on impulse buys. Limiting yourself to meal ingredients might stop you from buying things just because you have coupons for them.
Frugal Living Ideas to Help You Save Money
Times are tough, and we could all use some frugal living ideas now and then. We’ve talked about a few, but the possibilities are truly limitless You may want to do more research to see where else you can cut back.
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