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5 Ways to Live Frugally During a Recession

Are you, like millions of others, feeling the pinch at present? If you’ve

been hit with a pay-freeze but seen utilities, fuel and food bills soar in

price; you may be wondering how you can make your money go further.

If you’re struggling to make ends meet, there are a number of easy ways

to make your bank balance last that little bit longer. Thrifty and frugal

living is becoming a popular way for householders to look after the

pennies. And while supermarket skipping may not be to everyone’s

taste, frugality can pay off.

Here, we look at five easy ways to save a bit of cash and help the money

you do have last a little longer:

Brand Swap

Many of us are ignorant of brands; always buying the labelled packaging

under the impression it is the tastier alternative. The truth is,

supermarket own brands are often as nice – if not nicer – than your

regular brands.

Be a bit more frugal by going ‘down’ a brand. For instance, if you always

buy the high end label, purchase the supermarket own brand. If you

always buy one brand, choose economy. You won’t be compromising on

taste, but you will be saving money.

Where possible, switch down two brands on some products such as

tinned goods. This is a great way to be frugal and save some money. This

way, you can afford to treat yourself to more expensive products on

special occasions.

Wants and Needs

They always say that you shouldn’t do your food shopping when you’re

hungry and it’s easy to see why. You’ll end up buying even more than

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normal, on a whim. This will obviously leave a substantial hole in your

shopping budget. And what’s worse, is you’ll probably end up throwing

away a lot of unwanted food.

Instead, shop online or write a list and stick to it. This way you’ll buy the

things that you NEED, instead of impulse WANTS. Sometimes the two

will interlink, but when being frugal you should identify the difference.

Offer Conscious

Often tempted by alluring Buy-One-Get-One-Free offers? Think you’re

being frugal by snapping them up? Truth is, sometimes you can be

spending more. Some supermarkets will up the price of the item before

adding on the offer meaning it’s not as good as it looks.

Also, don’t buy products you wouldn’t normally just because of the

offer. Again, they will probably get thrown away unopened. And you

wouldn’t just throw away wads of cash, would you? Frugal spenders will

instead use online comparison sites to check they’re getting the best

deal at their local supermarket.

Sell Stuff

Car boot sales, auction websites, and cash-for-items webstores are great

places to make a quick buck. Everything from your old phone to broken

gold jewellery can fetch some money on these sites, so have a clear out.

Chances are this won’t make you an overnight millionaire, but frugal

spenders will be able to put this money to good use. You’ll also be

clearing up the clutter at home, which is always a good thing. Anything

that doesn’t sell can go to charity, and you may pick up a few bargains in

the charity shop too.

Leave the Car at Home

Most of us are guilty of driving short distances due to laziness. But with

the cost of fuel skyrocketing, maybe it’s time we left the car at home.

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When possible, walk to work and you’ll soon see a huge boost in your

finances. Public transport and lift shares are also great alternatives to

your trusty car. Not only will you save money on fuel, but you’ll be

getting some regular exercise.

Being frugal doesn’t have to mean being boring. On the contrary, you

and your family can have a lot of fun coming up with new ways of saving

– and making – money. Frugal living is more than a quick fix – it becomes

a positive lifestyle change everyone can benefit from.

Cutting your waste levels and being less materialistic are great ways to

save cash in the long run. However, if you find yourself in a position

with no other option than to borrow money, Payday Agency can offer

short term loans which may help you get out of a difficult financial

situation. For more information, visit www.paydayagency.co.uk.