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The Top 10 Habits of Frugal People

March 14 By Natalie Bacon38 Comments This post contains affiliate links. Read the disclosure policy.

Habits of Frugal PeopleSome people are naturally frugal. They’re savers. They spend less money and they’re happier for it.

I’m not one of those people. Which is exactly why I wanted to do a round up of the top 10 habits of frugal people — so people like me can learn from these frugal-nistas.

So, here’s a look at the top 10 habits of frugal people. Whether you’re a spender or a saver, you’ll find ways to be more frugal from this list (read: be happier and have more money).

 

1. Set financial goals

Frugal people value their money and want to hold onto it. Setting financial goals helps them accomplish this.

I created Dream Year (my goal-setting workbook) for my readers to set goals the right way. This will help you actually achieve your goals and feel good doing it.

Financial goals will give you a roadmap to where you want to go financially (instead of just wandering).

 

2. Come from a place of “do not spend”

Frugal people come from a place of “do not spend”. If they’re on the fence about something, they will err on the side of “no” (whereas the spender would do the opposite). Frugal people find ways not to spend money. They would rather see money in the bank than new clothes in their closet.

If you are spending too much money, trying saying “no” to yourself once a day. The more you do it, the easier it will become. Track your progress and celebrate your wins so you’re able to build momentum and enjoy saving money by not spending it.

I am such a spender at heart, but over time, I have learned to come from a place of do not spend. I really don’t even think about spending anymore, whereas a few years ago it was very hard for me. The more you practice not spending, the easier it becomes (like most habits).

 

3. Use coupons and shop deals

When frugal people spend their money, it’s at discount stores with coupons. You usually won’t find frugal people at high-end stores, where things are overpriced..

If you get in the habit of shopping at discount stores and with coupons, you can save a lot of money (this is really helpful if you’re trying to lower your expenses).

 

4. Always live below your means

No matter what, frugal people always live below their means. They have “financial margin” as I like to call it. There is money left at the end of the month.

Frugal people value keeping their money – not spending it. If you are not living below your means (or you’re living paycheck to paycheck), I recommend that you start budgeting asap.

If living below your means is hard for you, you’re not alone! With a little help and persistence, you can change this and get ahead. I cannot tell you how good it feels to have money in the bank and financial margin every month — it’s worth all the sacrifices it takes to get there.

 

5. Don’t eat out often

Frugal people are really selective about eating out. They either eat out very infrequently or they eat out very inexpensively. Either way, frugal people are not splurging regularly at fancy restaurants and more than that, they are aware of how much money they spend eating out every month.

 

6. Shop at discount grocery stores

Frugal people find ways to get good food inexpensively. They value good quality food but they know they don’t have to pay a lot for it.

Sometimes it takes a little creativity to find where to shop for less, but this is an excellent way to lower your expenses.

 

7. Buy second-hand

Frugal people don’t spend a lot of money on material things that they can get second-hand. Anything that isn’t a high priority on their value-list (like clothes) is something that frugal people will try to buy second-hand.

This is a hard habit for someone who is a spender. But like anything, practice makes perfect. If you start buying second-hand, you can get used to it over time. This is something that you have to decide whether to do in terms of your financial priorities.

 

8. Make financial decisions as a family

Frugal people value money, so they make financial decisions as a family. Frugal people take time to make sure everyone is on the “same financial page” and prioritize their financial health as a family above material things. Financial decisions are taken seriously and frugal couples work together to make sure they’re on the same financial page.

 

9. Have a plan

Frugal people have a plan. They know where they’re going. They know why they’re frugal. They know their values and make financial decisions in line with those values.

Use budget spreadsheets to create and implement a financial plan that move your toward spending less and living better.

 

10. Prioritize financial health over “things”

Frugal people prioritize their financial health over material things. Suze Orman says “people first, then money, then things.” Frugal people live their lives by this. Financial wellbeing is a top priority for any frugalnista.

 

A Final Note!

The top 10 habits of frugal people that I listed above show you what you can do to live on less money and be happier doing it.

Frugal living is a lifestyle that means finding creative ways to spend less money.

Most frugal people love how they’re living. Of course there are exceptions, and some frugal people won’t do every habit listed above, but in general, this is how frugal people live.

The good news is that even if you aren’t frugal, you can use these habits to get your finances in order. If you are in debt or need to decrease your expenses, these habits can help you accomplish this.

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Filed Under: Budgeting, Frugal Living, Habits, Money Tagged With: frugal living, habits, money, money lessons, save money

About Natalie Bacon

Natalie went from lawyer to financial planner to blogger. She designed her dream life, and her goal is to help you design yours! Grab a freebie to get started!

Comments

  1. [email protected] says

    March 14 at 8:33 am

    I am happy to report that I practice all of these habits! A lot of small moves like this can really add up quickly!
    [email protected] recently posted…How We Went $3,000 Over On Our Home Remodel (and Why It’s Okay)My Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:40 pm

      Yes, amen, Holly! It’s amazing what small habits can do – they really can make big changes!

      Reply
  2. Kalie @ Pretend to Be Poor says

    March 14 at 9:00 am

    I am naturally a frugal person, and I have to say I agree that these are habits of the frugal! We start from “spend as little as possible,” and then if something extra comes up, like a wedding or a trip, we are happy to spend accordingly. We definitely discuss non-routine expenses just so we can bounce ideas off of each other, like whether we can fix what we already have or where to buy an item secondhand.

    Reply
    • Natalie Bacon says

      March 15 at 9:40 pm

      I’m kind of envious – I wish I was naturally frugal!! 🙂

      Reply
  3. DC @ Young Adult Money says

    March 14 at 9:04 am

    It’s kind of cool how natural couponing and shopping deals becomes over time. After a few months of doing it – and to a greater extent after a few years – my wife and I almost always look for deals before making purchases.
    DC @ Young Adult Money recently posted…6 Tips for Pricing Freelance ServicesMy Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:41 pm

      Hahah good point, DC. It’s definitely “cooler” now than it used to be!

      Reply
  4. Stefanie OConnell says

    March 14 at 9:14 am

    Erring on the side of “no” is such a simple, but transformative mindset shift. It reminds me of my budgeting strategy of building up my spending from zero, rather than starting at some kind of “normal” spending baseline and cutting back. The small mindset shift is really a game changer.

    Reply
    • Natalie Bacon says

      March 15 at 9:42 pm

      I think this is a really good point for spenders. I think we tend to come from a place of yes, and this one change can be really powerful (it certainly has been for me)!

      Reply
  5. [email protected] and the Beach says

    March 14 at 9:18 am

    I used to be so sloppy with my money, buying random things like magazines and other home decor items on a whim. All those little things eventually add up, and I have found that in the end you create more of an errand for yourself trying to get rid of it anyway.
    [email protected] and the Beach recently posted…TimeMy Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:43 pm

      Yes! And notice you weren’t buying random things like a $500 handbag or a $1,500 trip — it’s the little things that randomly slip into our daily spending (like a magazine) that have a serious impact on our budgets!

      Reply
  6. Fervent Finance says

    March 14 at 10:06 am

    I do most of those things on the list except buy second hand. But then again I don’t buy many things to begin with 🙂

    Reply
    • Natalie Bacon says

      March 15 at 9:44 pm

      Hahahah good point!!

      Reply
  7. Michelle says

    March 14 at 12:48 pm

    One thing we need to work on is our eating out. There are so many yummy places to eat at when you’re RVing! 🙂
    Michelle recently posted…How To Make Saving Money Fun – This Is The BEST Way To Save MoneyMy Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:44 pm

      My guess is that you save just a few extra dollars by actually living in an RV!! #socool

      Reply
  8. Tess Wicks says

    March 14 at 4:33 pm

    Coming from a family where my mom is extremely frugal and my dad likes the “finer” (more expensive) things in life, I’ve deemed myself as selectively frugal. I have a “do not spend” mentality, especially when clothes shopping, but I’ll eat out and buy boatloads of coffee. We all have our priorities, I suppose. 🙂
    Tess Wicks recently posted…The B-WordMy Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:44 pm

      So, you’re the perfect mix?! I love it!

      Reply
  9. Lauren says

    March 14 at 6:00 pm

    I love all of these! I am in the same boat – I have no problem spending money but I am not in the position to do it right now. Debt is suffocating! Once you change your relationship with money though, you see things way different. Great post!

    Reply
    • Natalie Bacon says

      March 15 at 9:45 pm

      Absolutely, Lauren! I think it’s really important to talk about so spenders aren’t turned off by personal finance. You can actual be a natural spender and get your finances in order!

      Reply
  10. Ramona says

    March 14 at 6:04 pm

    We’re not frugal by any means, but we do apply some of these strategies. I do know frugal people though who are so cheap they have absolutely no goal in life but saving money. Even if they won’t live enough to enjoy it and their current life sucks. We’re having a better approach (methinks): we splurge on the things we really care about and are ‘stingy’ with what doesn’t matter.

    Reply
    • Natalie Bacon says

      March 15 at 9:46 pm

      I think that’s a good point – too much of anything takes it to the extreme. I wouldn’t want to be at either extreme.

      Reply
  11. Jen @ Frugal millennial says

    March 14 at 7:48 pm

    I’m glad that I do all of these! It’s essential to getting out of debt.
    Jen @ Frugal millennial recently posted…Married Millennials: Should You File Your Taxes Jointly or Separately?My Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:46 pm

      SOOO important for the debt slayers out there.

      Reply
  12. Marissa says

    March 15 at 12:12 am

    Besides working a budget out using my frugal ways with a family, I live by these rules! 8D Why, just today, I went out into town and bought two second hand t-shirts for this month. They were kind of pricey for new t-shirts, but they were at a very nice second hand clothing store, so they were worth it. There was one t-shirt I tried on in there that was almost $11.00 just because it was a Mudd brand t-shirt. The t-shirt looked nice on me, but just because it was a well known brand, the store marked it up even though the shirt’s material was very thin (I see what you did there with your pricing…. >_>). They do this to all of their clothing, even to their designer jeans, but the brands that are well known, but not so pricey selling new, are a great deal. But it’s a high end used clothing store, so the clothes are cut around 50-80% off anyway from a new designer price tag. ;D I love that store a lot. <3 By the way, I did not buy that almost $11.00 shirt though. D: For ten more dollars, you could buy a new shirt at Macy's, so I thought it just was not worth it for a used t-shirt.

    I also bought a $0.99 card today at Winco and sent it off on the same day! Hooray for cheap $1.00 greeting cards! ^^ I live for those kind of deals! 8D But I only buy what I need from those kind of deals. I don't crazy with them. ;D

    Yup, being frugal is pretty awesome. <3 I hope that more people discover frugality and it's many benefits at some points in their lives! It is so worth it! ^^

    Have an amazing week! C:

    Reply
  13. Tommy @ LeisureFreak says

    March 15 at 1:05 pm

    Certainly a list of habits that will benefit anyone’s financial life. For us frugality was initially out of necessity. The habits and spending discipline learned and the focus on what truly made us happy turned into a simpler lifestyle. Once money became more available through career advancement it allowed savings toward financial independence. It is never too late to start the habits you have laid out.

    Reply
    • Natalie Bacon says

      March 15 at 9:47 pm

      Well said, Tommy – a list of habits that will benefit anyone’s financial life. As for necessity, that’s why I started these habits (to get out of debt). Now, they’re a part of my life and I like them!

      Reply
  14. Heather @ Simply Save says

    March 15 at 9:09 pm

    Excellent tips! I definitely try to practice all of these. I want to do more second hand shopping instead of buying new.
    Heather @ Simply Save recently posted…Paying Off $36,176 in 15 Months: Heidi’s Debt-Free TestimonyMy Profile

    Reply
    • Natalie Bacon says

      March 15 at 9:48 pm

      It’s hard for me to do second hand shopping because I really enjoy clothes (definitely my guilty pleasure)!!

      Reply
  15. Tyler says

    March 16 at 10:17 am

    What an awesome article, I am a frugal person but my wife is NOT. This is something she knows and is working on changing so that we can get out of debt. She has started cutting coupons and setting our grocery shopping list and going to aldis as well. All of these methods are top notch thanks for sharing
    Tyler recently posted…February Reading ListMy Profile

    Reply
    • Natalie Bacon says

      March 16 at 8:40 pm

      That’s amazing, Tyler! I am not either and I’m proof that it’s possible to implement frugal habits and become financially responsible without completely depriving yourself.

      Reply
  16. Sarah says

    March 16 at 12:10 pm

    I agree with these points! It’s important to live below your means, so when the unexpected occurs or the wish is there to travel money is saved up for it! I’m frugal at heart put recently we’ve been ordering in a little too much so we’re on a month of eating in purely home cooked food – see how long we can make it without spending money on take out!
    Sarah recently posted…My new motivation to start getting fitMy Profile

    Reply
    • Natalie Bacon says

      March 16 at 8:45 pm

      That’s amazing! I think monthly challenges like that revamp habits and really reset your mind, which is amazing!

      Reply
  17. Allie says

    March 16 at 8:05 pm

    I also am not frugal by nature. My hubby is – which is helpful! I need the balance you speak of, I can’t “deny” myself or I’ll feel terrible (and be more likely to excessively spend). We eat out once a month, planned for our “date night’ and might order take out if we score some great deals at the grocery store (Aldi’s & Costco are big savers for us). I am much more aware of my habits now and keep them in check, thankful for that, totally was not always that way eek.
    Allie recently posted…Shift Your Mindset: 5 Tricks To Start Doing TodayMy Profile

    Reply
    • Natalie Bacon says

      March 16 at 8:48 pm

      I think being aware of your habits is half the battle. Once you are aware of them, then you can learn new, better ways of doing things.

      Reply
  18. James says

    March 18 at 10:33 pm

    I apply these frugal habits especially #1 setting a financial plan, which is the most important of all the tips. Without it, I wouldn’t know how expenses can be handled and managed. It is really the blueprint and a guide.
    James recently posted…Trading ETX Capital with Binary Options – How Advantageous is ETX Binary TradingMy Profile

    Reply
  19. Tia @ financiallyfitandfab says

    April 11 at 12:15 pm

    Great tips! Like you, I am not as frugal as I could be. I eat out entirely too much and it isn’t always inexpensive. I try to do better each day – which is why I brought my lunch to work today. 🙂

    Reply
    • Natalie Bacon says

      April 11 at 1:08 pm

      It takes practice! Despite that not being my natural inclination, I am proud to say I have adopted frugal habits that have helped me pay down my student loans.

      Reply
  20. Cara @ Fashionably Frugal says

    January 13 at 11:17 pm

    Great list of tips. I really agree with the living below your means. I have been so thankful for my Emergency Fund that I put that extra money at the end of the month into when things happen like unexpected medical bills or a flat tire.
    I take lunch into work everyday and my co-workers made fun of me at first, now we have lunch parties where we all bring our lunch and eat together. People see the frugal lifestyle and become intrigued after a while. It’s great fun to see other people embrace the say “no” mentality.
    Thank you for sharing your list and experiences.
    Cara @ Fashionably Frugal recently posted…15 Last minute gift ideas that will make you look awesomeMy Profile

    Reply
    • Natalie Bacon says

      January 18 at 12:30 pm

      That’s amazing, Cara! Sounds like you have figured this out pretty well!!

      Reply

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Hi, I'm Natalie! I went from lawyer to financial planner to blogger. I've designed my dream life and my goal is to help you design yours. Learn more about me here...

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