Living Cheap: How to Live Cheaply and Still Thrive in 2024

With the cost of living rising every day, you might be wondering if living cheaply is still feasible in This Year.

We spend money on everything—food, housing, clothing, health, and entertainment. It’s easy for expenses to drain our pockets, but earning that money back takes effort and time.

So, how can you live affordably and still enjoy the things you love? Hint: it’s more than just clipping coupons.

Living cheaply doesn’t have to mean surviving on rice and beans or reusing Ziploc® bags. There are numerous ways to save on everything from groceries to video games without sacrificing your quality of life.

While living on a tight budget might not align perfectly with your dream future, it’s a crucial step toward achieving financial freedom.

For individuals, frugal living can be a straightforward path to significant savings. Families can also embrace frugality, but it will be more challenging.

Before diving into effective tips and strategies for affordable living, let’s clarify what living cheaply truly means.

This post is all about the most potent cheap living ideas to make your wallet stronger.

What Is Cheap Living?

Cheap living means choosing practical and cost-effective options without sacrificing quality or comfort. It’s not about living in deprivation but finding ways to save money while still enjoying a good quality of life.

Just because you spend less doesn’t mean you get less. You can still buy quality products and live comfortably.

The goal is to reduce expenses in certain areas to free up money for what matters most to you.

Here’s how to live cheaply and save on everyday purchases.

How To Live Cheaply: Best 36 Cheap Living Ideas

1. Cook Cheap Meals.

If you’re overspending on food because you’re unsure what to cook, try the $5 Meal Plan. For just $5 a month, you’ll get weekly budget meal plans where each meal costs only $2 per person or $5 per family.

This service provides recipes and a shopping list to streamline your grocery trips and save you time and money.

2. Make a Shopping List.

Creating a shopping list is a crucial step to avoid overspending. It helps you stick to your budget and prevents impulsive buys.

Before heading to the store, check your pantry and refrigerator, and add essentials and planned meals to your list.

3. Don’t Shop Hungry.

Shopping on an empty stomach can lead to unnecessary purchases. Eat a snack before shopping or go after a meal to avoid impulse buys. Skip samples at the store to keep your cart focused on what you need.

4. Drink Water.

Thirst can be mistaken for hunger, leading to extra calories. Stay hydrated by drinking water throughout the day. If you’re still buying bottled water, consider investing in a water filter and reusable water bottles to cut costs and reduce waste.

5. Choose Frozen Over Fresh Fruits and Vegetables.

Frozen produce is often just as nutritious as fresh, and it’s typically more affordable. It’s a great option for out-of-season fruits and vegetables, and it works well in cooking and smoothies.

6. Compare the Price Per Ounce.

Food packaging can be misleading, so always compare the price per ounce to get the best deal. Maintain a price book for frequently purchased items to quickly identify good deals and compare prices across different stores and brands.

7. Get Your Starbucks Coffee Fix for Free.

You don’t have to give up your coffee fix. Use resources like Swagbucks to earn free gift cards for Starbucks by engaging in everyday activities like watching videos and shopping online.

You can even earn a free $5 welcome bonus when you sign up today.

8. Save Up to 40% on Online Purchases.

Shop through cash-back portals like Rakuten to earn up to 40% cash back on your online purchases.

Installing Rakuten’s browser extension helps you catch great deals and rebates while shopping online. I’ve earned over $2000 in cash back and bonuses with Rakuten!

Rakuten is offering a $30 bonus when you spend $30 on purchases through their partner stores.

9. Declutter, Donate, and Sell.

Do you find yourself surrounded by unused items? Running out of storage space? It’s time to declutter.

Clearing out things like outdated clothes, unused toys, or old exercise equipment can make your home more organized and reduce your cleaning efforts.

Consider selling items you no longer need. Platforms like Facebook Marketplace and eBay are ideal for this. Decluttering not only frees up space but also potentially earns you some extra cash.

10. DIY Gifts.

With numerous occasions throughout the year requiring gifts, why spend a fortune? Crafting your own gifts can save money and add a personal touch.

Think about baking treats, making soaps, candles, or body scrubs. Homemade gifts often have more meaning and can be more affordable.

11. Learn Basic DIY Skills.

By learning basic DIY skills, you can handle various tasks yourself, saving money on professional services. Here are some areas you can tackle on your own:

• Pet grooming – Save $20-$50
• Haircuts – Save $10-$30 per salon visit
• Grass trimming – Save $50 per month
• House cleaning – Save $20 per hour
• Childcare – Save thousands annually
• Tax filing – Save $150 annually
• Car washing – Save $100 per year

Look for tutorials online to help you learn these skills and keep more money in your pocket.

12. Save $5 on Every Grocery Trip.

With the Ibotta app, you can earn cash back on your grocery purchases.

This free app lets you take a photo of your receipt to get cash back, which you can redeem for gift cards or PayPal cash.

If you enjoy saving money, Download Ibotta and claim a free $20 gift card as a bonus.

13. Purchase Discounted Food Before It Expires.

Seek out markdowns on food items nearing their expiry date. For example, a $6 loaf of bread may be marked down to $3, offering significant savings.

14. Never Skip Breakfast.

A filling breakfast can help you avoid expensive lunch options. Opt for affordable, nutritious choices like oatmeal, cereal, or scrambled eggs, which provide lasting energy and prevent costly dining out.

15. Buy Used Whenever Possible.

Buying second-hand items can be more economical than purchasing new. Check out consignment shops, yard sales, estate sales, and online platforms like Craigslist, eBay, and Facebook Marketplace for used goods.

16. Save up to 15% with Amazon Subscribe and Save.

Amazon’s Subscribe and Save program offers discounts on everyday items like coffee, cleaning supplies, and more when you set up a recurring delivery schedule.

You can save up to 15% and also cut down on gas by avoiding multiple store trips.
Explore Amazon’s Subscribe and Save to start saving on essentials.

17. Save up to 85% by Choosing Generic Brands.

Generic brands often offer comparable quality to name brands but at a fraction of the price.

This applies to items such as pasta, cereals, cleaning supplies, and even medications. Opt for generics to enjoy significant savings without sacrificing quality.

18. Utilize Your Local Library.

Libraries provide access to a wealth of books, magazines, and other resources at no cost. Signing up for a library card allows you to enjoy reading materials without the expense.

19. Host Home Gatherings.

Dining out or hosting events at restaurants can be costly. Instead, invite friends and family over for potluck gatherings or other home-based celebrations to save money.

20. Plan Ahead for Extended Vacations.

If you’re planning a long vacation, book your travel arrangements 3-5 months in advance to secure the best rates. Longer stays can also lead to better daily rates, helping you save on accommodation.

21. Rent Instead of Shop.

The concept of renting clothing has gained popularity as more people adopt minimalist lifestyles and embrace sustainable fashion. Clothing rental apps offer a fresh alternative to frequent shopping.
Explore apps like Rent My Wardrobe and Flyrobe for a range of rental options from local and designer collections at affordable rates.

22. Live in an RV, Van, Truck, or School Bus.

Some people choose to make RVs or vans their permanent homes. While space is limited, this lifestyle offers the flexibility to move to warmer climates during winter.

23. Consider Living Abroad.

Many countries offer a lower cost of living. If feasible, relocating abroad could significantly reduce your expenses.

24. Opt for Low-Income Housing.

If you qualify, look into low-income housing options where rent is more affordable.

25. Share Living Space with Roommates.

Having a roommate can drastically cut your living expenses. Though living with others can be challenging, it can also make housing more affordable.

Check out roommates.com to find a safe roommate in your area.

26. Embrace Tiny House Living.

Tiny houses are more affordable to build or buy compared to traditional homes. They can accommodate families and provide a cost-effective living solution. Learn more about tiny house living here.

27. Downsize Your Home.

Downsizing can lead to financial savings. Consider what’s more important: a larger home or financial flexibility.

Larger homes incur higher costs for maintenance, energy, and taxes. Downsizing can help you save money and achieve your financial goals more efficiently.

28. Carpool.

Carpooling is a cost-effective method to save on transportation. Coordinate with coworkers to share rides and reduce your travel expenses.

29. Build a Capsule Wardrobe.

A capsule wardrobe is a curated collection of 30 to 40 essential, high-quality items that can be mixed and matched.

This approach saves money by reducing impulse purchases and focusing on timeless pieces.

By investing in a capsule wardrobe, I’ve saved $300 to $500 each month by avoiding unnecessary spending.

30. Clear Your Cookies for Better Prices.

Your online activities can be tracked by cookies, potentially leading to higher prices. Retailers may use your browsing history to charge more.

To ensure you get the best deals, clear your browser’s cookies before making purchases. This action can prevent websites from recognizing your shopping habits and offer better pricing.

31. Adopt frugal living.

Embracing a minimalist mindset can make frugal living less stressful and more enjoyable. Focusing on only what you need can transform your approach to living simply.

32. Opt for a Smaller Vehicle.

Larger vehicles, such as trucks, generally cost more in fuel. While some may need a truck for their lifestyle, many people own them out of preference rather than necessity.

If this applies to you, consider switching to a more fuel-efficient car. This change can also lower your insurance costs.

33. Preserve Seasonal Food for Winter.

Buying seasonal produce is often cheaper, and preserving it can allow you to enjoy these foods throughout the year.

Options for preservation include canning, dehydrating, and freezing. You don’t need a large garden; purchasing bulk produce from local farms or markets can also be effective.

34. Skip Extended Warranties.

Instead of investing in extended warranties, save that money for potential repairs or replacements. Many credit cards offer purchase protection for up to a year, which can also be beneficial.

35. Set Up Automatic Bill Payments.

Avoid late fees by automating your bill payments. Autopay ensures that your bills are paid on time, saving you from missed payments and unnecessary stress.

36. Dine at Restaurants with Kids Eat Free Offers.

Choose family-friendly restaurants where kids eat for free or at a discount. For example, McAlister’s offers $0.99 kids’ meals, and other places provide free meals on certain days.

Cheap Living: Is It Really Worth It?

Embracing a frugal lifestyle may involve giving up some conveniences, but for me and my husband, it’s been worthwhile.

You can choose to spend on luxuries or save for the future.
Every financial choice impacts your future. Weigh your options carefully and decide whether to splurge or save.

Final Thoughts

I hope these tips help you live more economically. Simplifying your life can not only reduce stress but also improve your savings and financial habits.

I’ve found that simplifying my life helped me reassess my spending and priorities. Reducing unnecessary purchases and selling unused items has been beneficial.

Living within your means allows you to save money and build a more secure future. Embrace cheap living to achieve these goals.

Those are some of the best ways to live well on a budget!

Do you have any favorite tips for living cheaply? Share them in the comments below!

This post was all about the hottest cheap living ideas for your life. Don’t forget to pin it and follow me on Pinterest. Enjoy the rest of your day! 😊