20 Frugal Living Tips | Minimalism & Saving Money

financial minimalism is all about simplifying our lives and our finances so that we can save time save money save stress and take it away from that stuff that doesn't really matter and put it towards things that will really change our lives and really bring us a lot of value there are just so many different ways that we can do this and we're about to go over some of my favorite ones right now have at least three meals that you can cook in five minutes so you're not tempted to go out to eat and waste money or spend hours cooking and preparing and going to the store and getting more stuff here's my favorite [Music] try to build a second stream of income the average millionaire has around seven streams of income right now i'm at like three or four and i'm trying to build that up as you build more and more streams it gives you more flexibility more power at your main job to demand raises or more flexibility on your schedule plus it just reduces a lot of stress when you know that if you have one stream of income that dries up you have a couple other ones that can get you by while you do something else or that you can pour your time into and you know those will build up so starting some type of side hustle or investment that'll pay you for a long time even if it's not a lot can help you so much by the way if you guys are enjoying this don't forget to subscribe cook batched meals usually we do this a couple times a week and try to shoot for like two days worth of food or at least three meals that way you don't have to come up with something to cook and then cook it every single day sometimes multiple times per day so it can save you a ton of time and generally it's a lot cheaper meal plan taking about 15 minutes a couple times a week can usually save us hours first of all you know exactly what you're gonna eat for the week so when you go to the store you know exactly what you're gonna need for food i try to go to the grocery store like only once a week and when i'm not meal planning sometimes it's three or four times a week so just that right there can save a lot of time and a lot of money make a capsule wardrobe one of the things that i absolutely love about capsule wardrobes is that they're really easy and you can just blindly put your hand in and you can grab anything you want and everything goes with everything else and the other thing that i really like about it is once it's complete and you have everything you need you don't need to do any more shopping and that has saved me a ton of money over the past few years wait a minute where's my original shirt oh there it is cut your own hair i've actually never gotten a professional haircut in my entire life [Music] use a high interest savings account while they're not as crazy as they used to be they're still way more efficient than letting your money sit in a regular savings account or a check-ins account i like to either automate it and put money in every month or round up my paycheck and put any additional money into there and then just pretend that it does not exist until i'm ready to spend it on an investment or whatever i am saving it for save money by being creative and buying used so as a minimalist i do like to have good quality stuff however i think you can get pretty much everything for cheap if you're willing to be creative and look for sales and things like that so there's a little bit of a balance free 50 off family heirloom 50 off five bucks 50 off because it has that little tear right here that you can't see facebook marketplace craigslist oh it's my parents old one that was free that was free from work plus that plus that plus that plus that brand new in the box there was a little dent on it somewhere 50 percent off same thing there's a dent somewhere where it is 50 off i'm trying to think of something that i actually paid full price for my shirts are free i bought the camera if that counts practice saying no i try to look at it as if it's not an absolute 100 heck yes then it's a no and also if it's not right for me maybe i'm trying to pay off debt or save up money and people ask me to go somewhere that's gonna end up costing me money like going out to eat or on a vacation then i'm gonna say no one of my favorite quotes is you cannot stress the unimportance of practically everything so find those important things say yes to those and to everything else just say no play the minimalist game decluttering has been one of the things that has helped me really the most in my life so doing something like the minimalist game which is pretty much just donating one thing the first day to the second three the third and so on for an entire month can be a really fun way to get started if that doesn't sound quick enough for you there's tons of other different decluttering methods or games that you can try to do but when you start to get rid of stuff you start to see how little you actually need and you buy less stuff and are more content with what you do have the average american wastes about 350 every year on unused subscriptions most people look at it as it's only 10 bucks or 20 bucks a month so it's not that bad but when those start to add up it can be an insane amount of money so i try to have very few subscriptions and if there's something that i want to watch that's on a network that i don't have i'll get the subscription while i watch that and then just cancel it right afterwards or you could try sharing your subscriptions which is pretty common i guess but it actually saves us a decent amount of money i pay for audible my brother pays for spotify i think my parents pay for netflix and that's most of the things that i use so try to diy it before giving hundreds of dollars to a professional i've found that most repairs are actually not all that hard to do and i can figure them out in about half an hour looking on youtube and then just kind of going for it for instance i just repaired the sink and i only needed like half the pieces try calling your internet or cell phone provider and negotiating down your rates usually just by making one or two phone calls you can save hundreds of dollars per year if that doesn't work you can always try switching phone plans there's a lot of great plans out there that are a lot less if you don't use a ton of data and especially with most of us being home right now all the time i know i don't use as much as i used to so things like google fi or republic wireless or all the other ones out there at mint mobile we don't hate you can be great options at a much lower cost and you can pay for data as you go or you can get a plan that might not be exactly as good but can cost a ton less over the course of a year exactly exactly this is a real phone call i'm not just randomly talking to the plant on the wall or or looking at the fake fireplace this is so real sell your extra car the true cost of cars is extremely depressing you have the basics like gas and oil and tires and repairs and then you have insurance registrations inspections and then just the general depreciation of the car so when you add all that up you can be working a couple weeks to a couple months per year just to pay for the thing that drives you to and from work do some preventative maintenance so by doing things like replacing your oil or servicing your furnace and stuff like that you can spend a little bit more money now and it'll save you a ton of stress and money in the future you can also do this with yourself by spending a little bit more time and money to eat healthy and to go to the gym and take care of your body so you can save on health care costs and like have a better quality of life for the future read as many financial books as you can i know for me that the ideas i got from reading a couple different books have already made me tens of thousands of dollars and it's shifted my entire mindset you never know which book is going to give you that idea that will change your finances forever so just discovering as much as you can about finances as early as possible will change your entire life try to use cash for at least a month i know that when i do this and do something like the cash envelope system where everything is budgeted out exactly as you'll need it in envelopes so you cannot overspend it's very helpful plus my grandfather used to have like big wads of cash and it makes me feel grown up it can make a really big difference in how you spend swiping a credit card is definitely a lot easier with money that you've never actually seen as opposed to actually bringing physical cash it makes you much more conscious of your spending write down your goals so goals are actually 42 more likely to actually happen if you write them down so i've been setting very specific goals for the past couple months and weirdly enough almost every goal that i've set i have hit almost exactly what i wrote down which has been really strange but very cool consider refinancing your home right now mortgage rates are wicked low so if you are somebody who owns a house looking into refinancing right now can save you hundreds of dollars a month which could turn into thousands or tens of thousands of dollars on your home so that's what i got guys i hope you enjoyed it uh all these tips were really helpful for me so hopefully they helped some of you guys out as well if they did drop a like it helps the algorithm a ton feel free to subscribe i've got a lot of cool videos coming up and yeah thanks for watching

Channel: Gabe Bult

Views: 172,050

Rating: 4.9185939 out of 5

Keywords: frugal living tips, frugal living, frugal living hacks, minimalism, frugal living tips and ideas, how to save money, financial minimalism, financial minimalist, minimalist, saving money, save money, frugal, frugal living tips with a big impact, how to be frugal, minimalism saving money, how to save money with minimalism, frugal living tips that actually work

Id: JuJ5ruRPuuw

Length: 10min 10sec (610 seconds)

Published: Mon Apr 26 2021