15 Frugal Living Hacks For College Students
Do you want to save money during college?
You may be trying to save money. The majority of people do this these days. You might be an extremely frugal candidate depending on how dedicated you are.
What is an extremely frugal life? There’s frugal and extreme frugal life.
This goes beyond just clipping coupons or stopping shopping for a few weeks. It’s a lifestyle where you cut back on your spending and save money whenever possible. We mean whenever is possible.
Read on if you want to learn how frugal living can be done and how you could start using frugal hacks in your life.
Extreme frugal living is for whom?
It’s important to know who an extremely frugal lifestyle is best for before you make a commitment. This is not for those who want to save a little money every now and then.
Extreme frugal living is generally defined as saving money in ways most people are unwilling to.
Someone with a large financial goal
Do you have a large financial goal you’d like to achieve? To achieve a financial objective, you need to consider many factors, such as making it measurable and realistic. It should also be written down. You’ll be able to spend more on your goals by incorporating frugal lifestyle hacks.
It’s not easy to live a frugal lifestyle. But having a goal will help you stick with it. Let’s say you want to repay your student loan as soon as possible. You would need to make a sacrifice, maybe pick up a side hustle and start saving to achieve this goal.
Someone willing to sacrifice
Can you make sacrifices in order to achieve your goals? You might want to try an extremely frugal lifestyle! It may be hard to maintain some of the extreme elements of this lifestyle.
If you don’t want to sacrifice, you can still try a frugal lifestyle. It’s never too early to make a change.
Anyone interested in living an eco-friendly life
Frugal living can reduce your environmental impact. Frugal living is a great way to reduce your impact on the environment.
Those who consider the environment in all their consumer decisions are said to follow ” Ecofrugality.”
This is essentially being aware of the impact your spending has on the world. Following an extremely frugal lifestyle can help you reduce your impact.
What are the advantages of living a frugal life?
There are many benefits to adding frugal hacks to your daily routine, no matter what your reasons for wanting to be more frugal.
You can achieve your financial goals faster.
What are those financial objectives that we discussed? By living frugal, you will be more likely to achieve them and do so quickly. Your savings will grow quickly when you stop spending.
You will learn how to live within your means.
You can learn to live within your means no matter your financial situation. You’re more likely to continue your frugal habits if you make them a habit.
Even if you reach a better financial position, you will still live below your means. This allows you to save more money and achieve future financial goals. This also helps reduce stress if you were a victim to lifestyle creep and living above your means.
You will be able to realize what is really important for you
What are your priorities? What’s really important to you? It could be that spending and consumption is getting in your way.
You’ll be able to spend less and have more time to do what you want.
Reduce waste
Extreme frugalness is an excellent way to reduce waste. Consuming less will reduce the amount of waste you create, which in turn helps lower your impact on the environment.
It also helps you spend less time on non-priorities. You can spend much more time when you focus on only spending money on necessities.
No longer is excessive shopping or managing your possessions a problem. This time is yours to spend as you, please.
The ultimate frugal living tips
Are you interested in extreme frugal living styles? Start with these 15 tips! What is extreme for one person may be normal for another. So, adapt them to your needs!
1. Shop for groceries with a list in advance and stick to it
Even small things, which may not seem extreme enough to you, can have extreme effects. Consider grocery shopping. When was the last time you made a list and stuck to it?
You may already be shopping for groceries on a tight budget. Take it a step further and only buy what is on your list. This seemingly small change adds up!
2. Create your own cleaning products
Every year, the average U.S. home spends about 170 dollars on cleaning products. If you want to spend less cash than that, try become more organized, and understand where your money goes. This is a classic frugal tip.
If you really want to go extreme, track every penny spent. We mean every penny! This will help you to understand your spending patterns and identify areas where you could cut back.
4. Borrow and don’t Buy
You may have heard about clothing challenges, where you don’t buy new clothes for one month. Why not go one step further? Make a promise only to borrow what you need rather than buying anything new.
Don’t buy new items from clothes to baby equipment to gadgets.
5. Do not throw out any food
In the U.S., more than 130 million pounds worth of food are wasted every year. This shocking number is bad for the environment as well as our wallets. You can reduce this number to zero or even less.
You can save money by eliminating food waste.
6. Go vegetarian
Vegetarianism is another extreme in the food world. Meat can be expensive, and getting enough protein is important. It’s wonderful that there are healthier vegetarian alternatives like lentils and beans, which cost less than meat.
Try cutting out all meat if you’re looking to be extreme. Try to go meatless twice a week if you’re looking for a less commitment.
7. Credit cards can be frozen
You can freeze your credit cards in a block in your freezer, or you can use a option that is more technologically-friendly. This will help you avoid making impulse purchases.
You will save money by limiting your spending.
8. Reduce and all expenditures
You can stop cable, and Netflix, Hulu etc. You can cut your costs in many ways, but not just by cutting cable. You can save even more money by lowering your other expenses.
Followers of extreme frugal living do things such as: (1) lower your thermostat to 60 degrees all year round, (2) unplug appliances (microwaves and printers, TVs and toasters, etc.). When not in use, 3) line-dry clothes instead of using the dryer, and, 4) take only cold showers.
Although they may sound extreme, they actually work!
9. Don’t use your smartphone
Many people are looking to spend less time on their phone today. What is the most extreme frugal hack you can use to achieve this? Get rid of your phone!
Replace it with a flip-phone that only makes calls and texts or use your landline. Not only will you save money, but you’ll also be able to break your dependence on your phone.
10. Sell almost everything you own
A major purge can be a great way to get rid of unwanted items in your home and earn some extra money. Be ruthless, because the more you sell, you will make more money. You’ll never know how much you can survive without until you get rid of everything.
Extreme frugal lifestyles are for those who know how to live with less!
11. Make your own cards and stop giving gifts
Saving money by making gifts at home is an excellent way to do so. Even better? You can also stop giving gifts altogether.
Tell your family and friends that you no longer want to exchange presents. The majority will understand if you exchange gifts for time together. A homemade card is a great way to show your appreciation for an occasion.
12. Use cloth diapers or reusable menstrual pads
Whoever buys diapers (or menstrual products) knows how expensive they can be. They can be expensive. These disposables can be expensive on a monthly or daily basis. Consider reusable products instead of buying disposable items that will end up in the trash.
Cloth diapers are good for you (or your child), the environment and your wallet.
13. Haircutting
You can become your own barber, and also the family’s hairdresser. Cuts every month or twice a year (not to mention the color!) Add up. You’ll save money by eliminating salon visits.
14. Eat out less
Cutting back on eating out is at the top of many frugal hacks. If you want to go further, stop eating out or ordering delivery.
Make all your food, and don’t throw anything away! It may be a major life change, but the results will be well worth it.
15. The ultimate frugal way to live is by downsizing your house.
Will you make a major change? You may be a good candidate to downsize your home. This frugal hack will make a big difference.
You’ll save money on your monthly payments and expenses if you rent a smaller house or sell your home and move to a smaller place.
Do not go too far with extremely living frugally
You might be eager to get started with all the available frugal hacks. That’s great! You can, however, go too far. Be aware of these things as you embark on your frugal journey.
Save time and money at the cost of your well-being
Saving is possible by implementing frugal hacks. Be careful not to sacrifice your well-being or time in order to save money.
It might be worth reevaluating your choices if, for instance, your frugal lifestyle hacks are taking away from the time you spend with your children. Saving money can be a waste of time if you end up spending more.
You may be missing out on the things you love
Spending money on yourself and your loved ones is a good thing! Extreme frugality can cause people to forget this. You might lose out on the things you could afford if you forget that is available for you to spend.
Balance is key, even when frugality and saving money are at the top of your list.
Spending money is “bad” no matter what you’re doing with it
Spending money on things that you find beneficial is not a bad thing. It’s also possible that extreme frugal spending can damage your financial mindset.
If you want to lead a life filled with abundance and not scarcity, be on the lookout for a shift in your mentality.
Are you prepared to live a frugal lifestyle?
An extreme frugal life is not for the weak-hearted or casual savers! It is a great tool for helping you achieve financial goals that you never thought possible and change your life. What frugal hack would you like to try today?
You’ll also want to read the other Ambitious Investor posts about saving and investing. Learn more about the power of compound interest on our blog.
About the writer
Dominic Hay is a legal consultant, blogger, author and digital marketer with over 5+ years of digital marketing experience. Join Dominic and thousands of monthly readers on Ambitiousinvestor.com to learn how to invest, manage your personal finances and start & scale online business. He is passionate about leveraging the right strategic partnerships, software to scale growth, personal finance and investing in stocks, crypto ecommerce and real estate. You can connect with him on his platform Ambitious Investor.
