Frugal living doesn’t mean that you are going to suffer because you are saving money but, it simply means that you are interested in saving money every month that can go to other stuff that you might need later or you can use the money you save to invest and increase your monthly income.
Cheap living is for everyone tired of being broke every month or leaving paycheck to paycheck with nothing to show for it. This is why this article is for people who want to know more about how to live cheap in 2020.
Living cheap in 2020 is possible no matter your financial condition. Living cheap help you to save money faster by avoiding unnecessary spending that is draining your finances. Instead of borrowing money to cover your spending, why not learn how to live cheap within your means.
Another factor that affects people’s finance is the inability of their monthly income to pay for all their basic needs, you can avoid this situation by learning how to make money online. The best way to make money online is through blogging. Blogging allows you to start making money without spending huge money, within a few months of you starting your blog, you should be able to make money every month, the amount of money you make each month depends on the time and effort you put into maintaining your blog.
How to live cheap in 2020
Here are 8 things that you can do to live cheap in 2020, you don’t have to borrow a loan or embarrass yourself by begging people to pay your bill.
You can write these money-saving tips down and try and follow it every month until you start practicing how to live cheap.
Write down your monthly bill
The very first step for you to take before you can start living cheap is to know the amount of money that you need to cover your bill.
Most people don’t know how much they are spending each month thereby preventing them from being able to stick to a budget every month.
Remove unnecessary spending
By now, you should have written down monthly expenses, the next step is for you to prune your spending by removing unnecessary spending that is eating your finance every month.
The unnecessary spending could be a few dollars each, by the time you add the expenses that you don’t need each monthly it could be running to hundreds of dollars each month.
When you save the money you cut down each month, you can invest the money by buying stock, setting up a small business and so on.
When you check the amount of money you save each month, it could encourage you to save more each month.
Find cheaper alternative
When you write down your bill, you find out there are services that you subscribe to that are expensive and you can find a cheaper alternative and downgrade your subscription plan.
Make extra money by doing a survey at your leisure time
You can take part in proven ways to make money online by working for a few minutes every day by taking part in a survey.
Survey sites pay its user for every completed survey that you take part and the money you make from survey can be used to pay for other bills in the house.
Stop paying for cable
If you already have an internet connection at home, then you don’t need to pay for cable. Online streaming for tv shows is cheaper compare to paying for cable and there is also a free channel.
Favorite Online tv includes Netflix, Hulu, Amazon prime and so on.
Reduce the cost of your grocery shopping
Another excellent way of living cheap and saving money is for you to reduce the cost of your groceries shopping.
I have written detailed ways on how you can reduce your budget when groceries shopping and you need to stick to the plan and watch as your monthly saving increases without reducing the quality of groceries.
Use coupon to reduce the price
Companies offer discount code or coupons for people to reduce the price of any products and services and you too can take advantage by looking for coupons.
Nest time you want to pay for any products online, you can simply do a Google search about the products coupon code and reduce the price.
Start an online business
The rate of people using the internet for businesses is increasing and you too can take advantage by starting a local business that doesn’t cost huge capital to start.
Dropshipping is an excellent way for you to make money online without quitting your job, the time spent every day can range from a few minutes to a couple of hours in maintaining your store, fulfilling customer’s order, branding and so many more.
When you start to live cheap, it might be hard because you are used to unnecessary spending habits but when you stick to saving money every month by cutting down your expenses your find it easier to save more money and you can invest your money.