Unsure about what does frugal mean? Well, being frugal means being careful about how you use your money. Many may think it means you are cheap – but in reality, if you are frugal then you are really just trying to spend your money on the things you absolutely have to. And if you are spending money, you are looking for the best deal you can get.

Here's What It Really Means To Be Frugal

Are you still unsure of what does frugal mean? It’s honestly not complicated. Instead of just buying the first item you see, if you are being frugal, you think about whether you truly need that item. You might even walk away from the store and take a day to really consider it. And if you do decide you need it, you’ll then look for the best deal. Here is some more information about being frugal.

You Meal Plan Instead Of Eating Out

When it comes to food, a frugal person would rather meal plan than eat out at a restaurant. Meal planning might not sound very interesting, but it's a sure-fire way to save money and kickstart frugal living. A frugal person would rather grocery shop what they plan on eating for a week and make their meals at the start of the week.

Failing to plan the week's meals can burn a massive hole in your pocket. Restaurants can often be overpriced and your food isn’t guaranteed to be exactly what you want. By planning your meals at home, you can both save money and eat exactly what you want to eat. You can even eat a lot healthier like that as well.

You Use Coupons

When it comes to what does frugal mean, coupons are a big part of being frugal. The good thing is there are coupons everywhere. Thanks to the internet, finding them is wonderfully easy. Just a quick Google search will bring up hundreds for your local supermarkets and discount stores.

If you primarily shop online, you can even download browser widgets that scour the web for discounts and savings automatically. These coupons, whether paper or virtual – help you in a big way to get the best deal you can find. All it takes is some of your personal time to find the coupons you need and make sure to have them ready when you go to pay for your items.

You Buy Secondhand Items Instead

When you have the option to buy something used, that is an option a frugal person would take. When it comes to what does frugal mean, buying secondhand is key. You can save a whopping amount of money, even when the items are only lightly used. Just head to nearby thrift stores and online secondhand marketplaces to find things you need at a much more attractive price.

You Automate Your Savings And Investments

Whatever your savings goals are, you need to automate them if you are a frugal person. This is exactly what you think about when asking what does frugal mean. Otherwise, you can easily return to bad spending habits or simply forget to transfer money into your savings account when you have the extra money to put aside.

If you are trying to be frugal, try automating your retirement savings first. Typically, you can do this through your employer. They'll take a percentage from your wages and place it in your retirement fund. After that, you should consider automating all your bill payments. Go through all your monthly finances and see which providers will let you set up automation.

You Participate In A No-Spend Challenge

When it comes to answering what does frugal mean, it means participating in saving challenges. You might actually find it easier to stick to frugal living if you turn it into a challenge. There are plenty of no-spend or low-buy challenges online that run from a week to a year. This is a good way to introduce you to frugal living.

You Make Gifts Instead Of Buying Them

Christmas is one of the most expensive times and wreaks havoc on most people's budgets. Therefore, when it comes to what does frugal means, it means making gifts – like baking brownies or creating journals or personalized notebooks – instead of buying expensive gifts. This can save a bunch of money and will often be more meaningful in the process!

You Know Where To Look For Money In Emergencies

When you first start putting your "what does frugal mean" knowledge into practice, emergencies may crop up that you haven't had a chance to save properly for yet. When that happens, you can get installment loans as an option to help you out. These loans allow you to borrow a lump sum of money without needing any collateral and repay the loan in installments.

We here at Carolina Title Loans, Inc. will check your credit and income to determine how much you could repay and then we will assess your other items to determine if you qualify for approval. You can fill out the online form on our website and head to the nearest Carolina installment loan location to get started.

Understand What Frugal Means Now

Now you understand exactly what being frugal entails. You have the information you need to get started on living a more frugal life. You will see that living frugally will be beneficial to your finances. And if you run into an emergency while you are trying out this new frugal lifestyle, you can get installment loans to help you out. Fill out the online form to get started.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.