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Priorities are also something to consider when deciding where to cut costs. "In the earlier years of our marriage, I felt like I had more time than money. So some of the things that took more time but made us money or saved us money felt worth it," Lydia told Bored Panda. "As I've gotten busier and now run my own business, I am a lot more choosy about what money saving things I do."
"For example, sometimes, it makes more sense to pay more for something that will save me time, because it's actually more financially wise for me to use that time saved and invest it in my business," she explained. "In the end, I'll make more money that way. I think that's always something to consider when you think about saving money."
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- I get my media (videos, ebooks, music) from free internet resources.
- I believe that by spending more on higher quality food, I spend less on healthcare expenses (MD visits, medications, etc.).
- Make ice cream at home. It's less expensive and healthier.
- Working from home has saved a lot in food, gas, clothing, and time.
- Making coffee at home with a pour-over. I spend about $0.50 per 14oz of coffee.
Melissa also recommends living frugally, even if you don't have to "because we will never know when the other shoe will drop, and because of that, we need to be wise with how and when we spend our earned money."
But she added that not every financial plan or frugal living plan is right for everyone. "You have to decide what is right for you and your family and learn the art of compromise. If you really want to keep one thing, then you might have to give up something else," the frugal mom shared.
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Living frugally can also benefit us in more ways than one. Caitlin says, "In many cases, living in a way that is better for our budgets is also better for the environment, and better for our health!"
But we also have to be realistic about how much groceries cost nowadays. "Gone are the days when you could slash your food budget in half with a few simple tricks," the nutritionist noted. "Food costs in the USA have increased exponentially, and in order to choose nourishing meals that fill our bellies, we may have to incorporate these tricks while also increasing our food budgets to accommodate the increases in cost."
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"I think we associate fast food with being really cheap, but actually, the portions seem to be shrinking and the costs seem to be increasing," Caitlin told Bored Panda. "Plus, these foods don't tend to be supportive for long-term health, so relying on them too much might actually cost you more in the long run in terms of medical and healthcare fees."
"I definitely don't mean to demonize these foods at all, but a full meal at a fast food restaurant is still likely to cost you $10, so unless it's a special treat, that's still not super budget-friendly," she explained. "If this is a meal that you really enjoy, I would treat it as just that - something you're eating because you enjoy it! But if you're only choosing it because it's cheap, you might be better off with a delicious homemade sandwich and potato chips!"
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