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How does someone become frugal?

glicampsen

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Title says it all.I am having a hard time being minimalistic and frugal. My goal is to fund my future goals.

A quote that stuck with me was, how can you not even try to save $10,000 in college but still want to be a millionaire by age 25?


I want to be so that I can start saving money and investing in my businesses, travel anywhere I want and have a large emergency fund.

I spend most of my money on clothes, weekends getaways, shoes and skincare.
 

DUO

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seek to only buy things on discount, or on sale, e.g your skin care and clothes/ shoes.
wear them/use the products THEN replace them, dont buy buy buy

getaways - limit them say if you take 3, take 1

assess your current finances and look at a saving goal that is doable for you without excessive hardship, i used to save about 60% of my salary, currently around 50% now, alternating between saving it and investing it
 

Zahungscyn

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You can be successful without being a millionaire by 25.
The best tip I can give is learn to budget and always work in increasing your income.
Like you, I am a big fan of traveling, I love doing my nails and hair and I just like to look good and feel good.
What I do is set a monthly budget for all those things, I set $300 aside for travelling, $150 a month for self care and a $500 quarterly budget for my wardrobe.
What that allows me to do is tell my money where to go. That’s the key to financial independence, being diligent and intentional
 

Lavishmelss

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Follow personal finance subreddits on Reddit , they have flowcharts that help you save money , set long term goals etc
 

glicampsen

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You can be successful without being a millionaire by 25.
The best tip I can give is learn to budget and always work in increasing your income.
Like you, I am a big fan of traveling, I love doing my nails and hair and I just like to look good and feel good.
What I do is set a monthly budget for all those things, I set $300 aside for travelling, $150 a month for self care and a $500 quarterly budget for my wardrobe.
What that allows me to do is tell my money where to go. That’s the key to financial independence, being diligent and intentional
Great advice, thanks.
 

DiorGlow

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My parents used to call my hands a sieve because money would just flow out of it like water, nothing would stay. Finding out what the minimal budget you need to operate can be tricky but once you find a happy medium, you can start saving quickly.
 

Barb E Cue

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Get to the root of why you’re spending so much money. That can help you on your way to frugality.
 

Delebe

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Set aside money to automatically be deducted from your checks. Don’t give yourself access to too much credit etc if you know you’ll be tempted to spend.

Budget. Ask yourself if you really need something or if you just want it. Start cutting expenses you don’t need.
 

Diggin da Shamy

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Have a weekly limit

This.

Plus honestly stop spending. It's that simple.

Spam everything that is from a store in your inbox. Stop going onto websites that require spending because what else will you do? Learn how to cook. Live at home if you can. Write down your spending habits daily on paper and review it. Look at subscriptions you don't need. Pay yourself first.

Get a American express savings account ... they don't give you a debt card and have X amount of money taken from each paycheck (direct deposit) and put into that account. I have been maxing out my IRA and 401k ... I do it either during the year or at the end of the year. I always max out my IRA first. 401k over the year, but maxing out your 401k means you pay less taxes now. You may pay it on the backend tho.
 

jd007

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I'm naturally frugal and actually get off on it... i like to brag to other people that im more frugal than they are.. it makes me feel superior... i like people knowing that i make a lot (for example, made over 5 figures in a month) but then brag that im proud of only ordering postmates once a month and less than $25... or complain that despite making over 10k i may live in a studio to penny pinch. It's thrilling and it actually gives me a strange joy/thrill to know im cheaper than others.

T
I spend most of my money on clothes, weekends getaways, shoes and skincare.

There is no need for clothes and getaways as you SHOULD NOT LEAVE THE HOUSE DUE TO COVID. I have not bought any clothes or left the house since MARCH... not even grocery store as everything gets delivered. Groceries come to my door courtesy of Amazon Prime...

Im also anti social so i don't like getaway,. going out etc. Ideally you shouldnt be going on getaways or out for the next few years even with the vaccine. SOCIAL DISTANCING will save you money.

What do you need clothes and shoes for? Its a pandemic. I stay home and wear one pair of pajamas all week no shoes required.
 

SafeLanding

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It takes discipline and patience.

  • Wait for sales
  • Use coupons whenever possible
  • Shop around for the best price
  • Buy in bulk IF it saves money
 

A.L.I.

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Comparison shop. Buy store brand if the quality is pretty much the same. Don't try to keep up with the Joneses. This will help you the most. As long as you're trying to have the latest and greatest, you won't be able to save. It's okay to keep the same phone for a couple of years. It's okay to not buy a brand new car. They depreciate.
 

just11412

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Definitely takes discipline.

But a budget. Making challenges and using the 24 to 48hr method works. Meaning not buying and waiting 48 hrs to see if you really need something. These things helped me.

I do a zero budget. Every dollar has a place. I also have several accts so I don't touch sh!t.

Challenges helped me. I did a no spend or dont buy hair products one and no clothes. I. Working on a no eating out one.

I also wait to buy sh!t. Now I was pissed I missed out on these earrings but I got over it.

I am working on being frugal and minimalist. Within reason. Cause I love vintage sh!t. But I have a set acct I save for that.
 

Gull

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change your mindset and attitude...
it can be both easy and hard at the same time.

if your mindset and attitude is set, your natural behavior will emanate from it.
 

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