Four habits of frugal people

Would you describe yourself as frugal? Are you good at finding a bargain everywhere and living life cheaply? You might recognise yourself in these four habits frugal people have.

Whether you’re trying to build your savings or just trying to live within your means, there are many good reasons to be frugal with your money.

It’s not necessarily a life skill that comes naturally to everyone, but there are several habits frugal people all have in common.

Follow these tips to get a better handle on your finances and save more money.

Read: Is that box of cereal you just bought smaller than the last one?

Planning meals and eating at home

One of the best ways to cut costs and save money is to make a meal plan for the week, do one big grocery shop based on that plan and then prepare and cook your own meals rather than ordering takeaway.

Ordering out, eating at restaurants and even doing more frequent smaller grocery shops are one of the biggest drains on your money.

Frugal people tend to keep ordering out for special occasions and are not prone to giving in to temptation or laziness. Kick your DoorDash habit and you’ll be amazed how much you can save.

Looking for deals and coupons

Frugal people are usually masters of finding a great deal and all the best coupons and promo codes. Once upon a time these people would’ve been cutting physical coupons out of catalogues, but these days the best coupons are online.

Read: A few tweaks could save you thousands at the supermarket

Websites such as Groupon, OzBargain and ShopaDocket are great for finding promo codes for everything from groceries to luxury holidays and can save you hundreds, if not thousands depending on what you’re looking for.

Buy used where you can

Frugal people don’t mind buying second-hand where it’s appropriate. Obviously not everything can be bought used, but there are some real bargains to be had if you’re willing to buy used for items such as furniture, appliances and electronics.

Again, the best deals on used goods are found online. Sites like eBay, Facebook Marketplace, Gumtree are filled with people looking to sell their unwanted items for often way under retail prices.

Read: Keep control of your online spending

Buy in bulk

Buying in bulk usually greatly reduces the cost per unit of whatever you’re buying, so stocking up where you can save you heaps.

Frugal people are often almost fanatical about checking the per unit cost of items. In the supermarket, the per unit cost is listed in fine print below the headline price.

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Written by Brad Lockyer

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