Best Ways You Can Embrace Frugal Living Today Story

For some of us, frugality comes naturally. But for others, frugal living conjures up images of a miserly, meager existence. No wonder so many tune out when the topic of frugality comes up!

But what if I told you living frugally doesn’t have to be painful or boring? And—what if I also told you it could bring financial peace, security, and even freedom? It’s true. A frugal lifestyle can provide all this and more.

Best Ways You Can Embrace Frugal Living Today

1. Regularly revisit recurring expenses

Revisit your expenses annually (at minimum) plus anytime your needs or life situation changes.

2. Shop around and get new quotes

Every year or so, shop around and get two to three new quotes on your recurring expenses. Switching to a competitor or taking advantage of promotions could save you hundreds.

Instead of leaving for a competitor, try negotiating with your biller. Call and ask to speak to the retention department. Mention how long you’ve been a customer, then negotiate for a discount or get them to meet (or beat) a competitor’s rate.

3. Ask for loyalty discounts

4. Pay annually  (or all upfront) instead of monthly

Some billers offer a discount to customers who pay their bill once a year or all upfront versus monthly. Insurance, online services, and some medical services often offer this payment option.

Maximize your spending by paying with a rewards credit card. Even better—use a card that offers higher-earning categories.

5. Pay with a credit card

6. Pay in cash instead of with a credit card

Often, smaller businesses will offer a discount if you pay in cash or with your debit card.

7. Register for refer-a-friend programs

Many billers and banks offer refer-a-friend programs where you and/or your referred friend receive a bonus. Sometimes, the referral bonuses can be quite lucrative, so always check to see if your biller or bank offers them!

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