Inflation has recently hit a 40-year high, and we’re all feeling the effects. What once was a simple trip to the grocery store can now leave a huge dent in our wallets, and the current gas prices are deterring many of us from taking those late summer road trips. So whether you have a stable income or you’re currently living paycheck to paycheck, we could all use some tips that can help us stretch our money.

To help you pandas get the most out of your dollars, pounds, euros, renminbi, etc., we’ve gone through the Financial Independence subreddit’s Frugal Friday threads to round up some of the smartest and most practical money-saving tips we can all start implementing. Be sure to upvote the recommendations you find most helpful, and then let us know in the comments what your personal favorite tips and tricks are for saving money. Then, if you’re interested in gaining even more personal finance knowledge, you can check out another Bored Panda piece featuring tips that will get you the most bang for your buck right here.

#1

I haven’t ordered take out in 2.25 years.

It feels like the dream of reaching financially stability, being able to ever purchase a home, and even being able to retire at 65 is slipping further and further out of reach every day. And while the easiest way to become rich or get to stop worrying about our finances is to have a job that pays hundreds of thousands of dollars a year, unfortunately, we can’t all make that happen. So unless you’re among the Jeff Bezos-es and Elon Musks of the world, it probably would not hurt to start adopting more money-saving habits.

These can be anything from using leftovers wisely to making sure you take advantage of any discounts you can possibly get, but in combination with one another, these tips can hopefully help you have a little bit more left in the bank at the end of each month. Despite how unattainable financial independence can sometimes feel, we all want to reach it. So let’s see if this online group can help us out!

#2

We have several cats, and we make their food. Cheaper than buying the expensive cans, and gives them better nutrition, so less visits to the vet

#3

I belong to a planet fitness ($10 a month + yearly fee). I started bring a gym bag and showering and shaving there to cut back on my water bill. I get my water bill and a few days so we will see how much lower it is.

The Financial Independence subreddit is a very popular place, as it currently has 1.4 million members. And as the group’s description states, “This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) – quitting your job/career and pursuing other activities with your time. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible.”

The moderators have made it very clear what the community is about, and even what it isn’t about. They focus on discovering and achieving life goals: “What would I do with my life if I didn’t have to work for money?”, as well as helping members simplify and redesign their lives to minimize spending. “Your wants and needs aren’t written in stone, and less spending is powerful at any income level,” the moderators explain.

#4

Eat less to stretch the dollar. Make your own food if you can. Fast foods are ridiculously pricey lately.

#5

In HS my friend would save money on dates by excusing himself while at the movie theatre to grab an empty cup out of the trash, wash it in the bathroom and fill it up with a beverage for free. That’s hard earned money we’ll saved if you ask me.

#6

A month ago I spent $800 on home-gym equipment. Now I have enough to do almost all the main movements I would do in a commercial gym, just steps away, in my basement. It’s a huge time saver and most of the stuff I got will last indefinitely.

The page also focuses on providing tips to help increase members’ income streams by adding on additional projects and side-gigs and helping them save a large amount of their incomes. In fact, they recommend that members try to set aside at least 50% of their income. Obviously, that is a privilege and not possible for everyone, but in a perfect world, that would be the goal for all of us. The subreddit also helps members learn how to invest and manage their investments, so they can keep an eye on early retirement.

When it comes to what the page is not about, they clearly state that the goal is not “gaining wealth for the purpose of excessive consumption”. So if you’re planning on becoming a billionaire and polluting the planet even faster than you ever could before, I’m going to stop you right there. And lastly, the moderators note that the community does not focus on taking the slow, traditional route to retirement. It is for people who want to go above and beyond and maximize their resources to retire early.

#7

I (25F) initially lived with my sister, whose also in her mid 20s. Our youngest sibling asked to move in with us to go to attend the university nearby (15 min away). Instead of getting a 3 bedroom apartment, we kept the 2 bedroom apartment and used a room divider to turn the living room into a 3rd bedroom.

#8

I called my internet provider to tell them I was thinking of switching unless they could give me a better rate. They just gave me 35% off per month. Not a huge amount, but it’s nice to trim the budget a little.

#9

I’ve been taking doordash trips in the direction i’m heading for longer drives to get my wife’s fancy sour dough bread & composting. Now I can write off my mileage and I can usually make enough to pay for the bread & entire trip. BOOM.

Now, if you’re rolling your eyes thinking that early retirement will never be a possibility for you given your current financial situation, I completely understand. We have not all had the resources, opportunities, or time to be able to set money aside and save for retirement. But that doesn’t mean we shouldn’t start saving as much as we can right now. An extra hundred dollars left in the bank each month can go a long way for some of us, and even if it means we have a bit less anxiety when we take trips to the grocery store or have to buy a birthday present for a loved one, it’s worth it. The less time we spend stressing out about paying our bills or how we are going to pay rent, the more time we can spend nurturing our relationships and looking forward to our futures. 

#10

Still driving my almost 20yo shitbox 200k+ Japanese car. I really want to buy a used Lexus but refuse to give in.

So long as this shitbox keeps putting around despite its leaky roof, no radio, damaged interior, cracked windshield rust spots and no inspection sticker since 2018 I will keep driving it.

#11

We got lucky and churned (r/churning & Doctor of Credit) about $4000 worth of credit card points and bank sign on bonuses since May. We essentially get to spend this entire week in Cancun for free from about 1-2 hours of work.

A lot of people say churning hurts their credit card scores which isn’t true. We have 800+ credit scores and we opened/closed countless credit cards in the past decade.

#12

This really depends on your area…but here, people live in small spaces and often get rid of stuff for cheap or free. Just taking a walk, sometimes you can find really good stuff, in great condition. You leave something you don’t need anymore on the sidewalk, and it disappears to someone else’s home in 30min. I grew up in this city, and almost our entire apartment was furnished in found items or neighbor discards.

Today we got suuuper lucky; my husband was out on an errand and noticed a neighbor was getting rid of a fridge! We were actively shopping for a new one, since our current fridge is breaking. This found fridge is $1000 new, got it for free and got to know a neighbor a little better. A daily walk is good for your body, mind, AND wallet

Having less financial worries can actually benefit our health as well. You might not even realize how common it is to be anxious about money, but according to a recent survey, 90% of Americans say their financial situation impacts their stress levels. And we all know that unmanaged stress can have a negative impact on our well-being, but 40% of Americans also said that “managing their money on a daily basis limits the extent to which they can enjoy their day-to-day life”. Financial stress is distracting and can keep us from ever being able to relax, deter us from going to the doctor when we need to and can lead to detrimental impacts on our personal relationships. Whatever it takes to minimize anxiety when it comes to our monetary situation is well worth it.

#13

I’m big on yard sales and thrifting and flipping the things I already have and using that money specifically to buy clothes and shoes. I hunt for high quality gently used brands priced for a steal and I only seek things I actually am in need of. For my birthday next month I have a big bag of clothes and purses and things and plan to turn it all into my favorite thrift store for in store credit and use that for a shopping spree in the store as a gift to myself! Other than that I do the little things like making my coffee at home, we buy creamers we love so the coffee is delish. My biggest problems are eating out but I’m getting better at meal planning for the week and cooking even though I HATE cooking!

#14

May seem like common sense for most – but I live in the suburbs about 45 minutes outside of the city where my office is located (longer depending on what time it is when I leave). I go in 1-2 days a week. I have been taking the train into work. The station is a 10 minute drive from my house and only about a 5 minute walk from my work downtown. We only fill up my car about once a month now. Plus I get to study and read on the train!

#15

I cut waaaay back on unnecessary shopping. I never liked going to malls or shops but do like looking at “stuff” online while I listen to podcasts. But instead of buying anything, I save the links into a dedicated bookmark folder. By the next time I look at them, they are either gone or I’m no longer interested. Very few (if any) pass the time test.

You might be concerned that there is no way to cut corners financially without lowering your quality of life. But according to Chris Hutchins, a self-proclaimed ‘life hacker’ and host of the All the Hacks podcast, there are several ways many of us can start making the most of our money without sacrificing the things we love. “The biggest one for me is looking at where you spend most of your money and figure out how to get a better return or erase the expense,” Hutchins told CNBC. To do this, he recommends first figuring out how inflation is personally affecting you. For example, are you spending much more on gasoline, or do you not even own a car? Maybe groceries or dining out is stealing more of your income?   

#16

I make home made meals and only eat when i’m hungry and I don’t over eat to help cut cost. I also thrift shop when it comes to clothes also walk in town to my local grocery instead of using gas. I stay busy with work/hobby so I don’t get bored and then get into the mood of spending.

#17

I know this is probably next to impossible in today’s market but three years ago when I bought my house I managed to successfully negotiate the price from 200k down to 172k. Also the house was already below what “I could afford”.

I rejected my lender’s idea to throw my car debt in the mortgage (I had 0% APR) so that I could “afford a bigger house”. Now, that car has been paid off, my partner moved in (therefore splitting bills) and my mortgage (tax and insurance included) is less than 15% of my take home pay. And that’s including the fact that I pay extra towards the principle every month on a 20 year payoff rate.

Probably one of the best financial and adult decisions I’ve ever made. My house is tiny. 960sf, and I call it “The Little House That Could”.

#18

I don’t rent fixed places.

First, is not “I”, is “we”, with my bf. If you can rent a 1 room flat being 2 persons, will be half of the price (duh, of course) than renting it alone. So being with someone is cheap in this way.

Second, we do “apartment hopping”. We rent the places of people that goes on vacation, and here come the 2 main tips about this:

1- Rent places where the people already left/is about to leave and find difficult to rent it, hence you can negotiate the price

2- Sometimes they have animals and then need someone to take care of them, so the rent will be cheaper

This way you can spend less than %50 of the average.

Hutchins says that once you realize how exactly inflation is impacting your finances, you can find a way to take advantage of it. For example, find a credit card that will earn you cash back wherever you spend the most. That way, the spending that you can’t avoid will actually come to benefit you. Sure, it’s best to minimize your spending altogether, but if you are required to drive an hour to and from work every day, see if you can start earning cash back on all those fuel purchases. 

#19

Before I buy anything brand-new, I shop for it used–but in perfect condition–at not more than 10%-30% of the brand new price. Facebook Marketplace or Craigslist, resale shops. Same stuff, but at 70-90% discount. You would not believe how often you can find exactly what you want. People sell every kind of stuff.

#20

It’s our one-year anniversary today. I want to make people aware of a diamond alternative called moissanite. It’s lab-grown and looks just as good, if not better than the real thing. Our engagement ring stone is about 1.5 carat size, which can cost $10k-25k depending on clarity. Our moissanite ring cost about $550 and was custom made to our liking.

#21

Hungryroot referral program is $50. They have great snacks and decent organic meat.

Hutchins also warns people who want to get more bang for their buck not to settle for quoted prices. “It’s not a secret that you can call your cable and cell service providers once a year,  and they’ll likely give you a better rate plan,” he told CNBC. We should all be taking advantage of our negotiation skills everywhere we can. Whether it’s utilizing the chat function on websites where you’re shopping to ask if they can do anything about the price of an item or searching for coupons online that you can use in stores, Hutchins explains that there are almost always ways to avoid paying the ticket price. “Say you’re renovating and need to spend a lot of money at Home Depot. There are websites where you can buy Home Depot coupons online,” he explained. “I needed to buy patio furniture and bought a 15% off coupon for $2.”

#22

We just got a free trial of a meal kit delivery service for next week. They give them to current users to give to their friends to entice new customers to join. We noted down there us 4 in our household so we are getting 20 meals (5 days x 4 people) delivered for free. This is the 3rd free trial we’ve had.

#23

I’m not a huge music person. I like it, but I don’t listen every day, and my interest comes and goes. I listen to more podcasts these days.

That said, I’ve found that I can unsubscribe from Spotify Premium when I get “bored” of music and within a few months I’ll get an offer to rejoin on a 3 months for the price of one offer. Happens routinely now.

#24

Well, for a scant few hours of my time, I’m the proud owner of 3 dozen quarts of applesauce with another 3 dozen worth nearly done. And my dear sweet apple tree has dropped mayyyyybe 10% of its apples.

I should finally invest in a cider press, but the 25gallons of currently fermenting liquids don’t really need more company.

#RuralPeopleProblems I suppose.

Edit – my apple-addled brain needed re-formatting.

Hutchins also says that it can help to “pick off low-hanging fruit”. Take a long, hard look at where you’re spending, and eliminate any unnecessary burdens. If you’re not using Netflix more than once a month, it might be time to end your subscription. Chances are, if you really want to see a film on there every now and then, a friend of yours can loan you their account for the evening. And for some lucky individuals living in the United States, Hutchins recommends checking out MissingMoney.com. The site is a database filled with unclaimed checks just sitting around. It wouldn’t hurt to search your name and see if anything comes up!

#25

I never buy the latest model phone or computer. This year’s $1,000 phone? It will be $300 in three years and I’ll buy it then, new. It will still be a huge improvement on whatever I’m replacing so it will make me happy. Staying three years behind the bleeding of tech is a great way to save money.

#26

My wife and I are mainly tea drinkers, but will occasionally buy a fancy coffee drink to mix things up. In the last year our local coffee shop has gotten just crazy expensive. We were at about $7/drink with tip, which felt outrageous. So I bought a little moka pot for $30 and started making drinks at home. I can use whatever kind of milk I want (almond, oat, coconut, or dairy), and sweeten it the perfect amount. I daresay the drinks are better and the moka pot has already paid for itself. I heavily disagree with sentiment of “stop buying fancy coffee and you’ll be able to buy a house, Millennials” but in our case it definitely helps keep us within our eating out budget each week.

#27

making food “takeout style” at home. town cheapies or cheap town or eventbrite events. staycations.

We hope you’re learning some useful tips from this list that might help you stretch your next paycheck. Whether you’re the most or least financially stable you’ve ever been right now, we understand how greatly inflation has impacted all of us. Keep upvoting the posts you find most practical, and then feel free to share your own money-saving tips with your fellow pandas down below. And if you want to find out even more ways to live frugally, don’t forget to read this Bored Panda article next!

#28

I answer Craigslist ads to participate in surveys. I make about $50 in Amazon gcs a week, and use the $ to buy essentials (soap, kitchen supplies, toothpaste, whateva)

#29

I drive an almost 20 year old Honda with only 110k miles that I got for 6k two years ago. Love that car. Its a little beat up, a little dated, the interior is just ok, but I’m proud of it because I know what that money I save on car payments and expensive insurance is doing anyway. Plus it came with an upgraded stereo so I have Bluetooth and USB in an ancient vehicle lol

#30

My aunt is retired and great at couponing. She finds name brands at extremely cheap prices. A few times a year, I give her $20 or $30 and she gives me a box of stuff she couponed. Usually TP, dish & laundry soap, razors, deodorant, makeup, hair care. Sometimes clothes. Helps me a ton & she finds it fun.

#31

My girlfriend has a favorite restaurant but notoriously wouldn’t be able to eat her whole meal. Now, whenever we go, we share the meal and get an appetizer. This has trickled into whenever we are eating out, we typically split the meal.

#32

I got an extra trash can and put it outside, so when it rains, I collect that natural water. In my area, it doesn’t rain much. I then use this water as irrigation for my backyard. Saves on the water bill a little bit.

#33

Frugal gardening: My jalapeño and tomato plants are now at the size where they would cost 10 – 15 bucks each at the garden centre. Grown from seed, they probably cost less than a buck each even if you factor in the cost of the potting soil and amortization of the grow lights over the years. I don’t view this as a way to save on the grocery bill as it’s a lot of time and effort, but as a hobby I feel like I’ve kept it pretty frugal.

#34

Fried rice is one of my favorite meals. The flavor-to-cost ratio is off the charts. The key to excellent fried rice is to refrigerate the white rice after cooking; I refrigerate it overnight at the minimum. This helps the rice firm up and keeps it from getting mushy. I’ll typically make a large batch of white rice and use it through the week. Fresh rice for sushi, fridge-aged rice for frying. My typical recipe is simple: rice, eggs, onion, and carrot with soy sauce. Yummy every time.

#35

I make my own chicken stock. Buy Costco rotisserie chicken and save the bones. Add veggie scraps saved up in freezer and herbs from my garden. Instant pot for 2 hours and BAM. My secret weapon for making everything super tasty. So much better than store bought chicken stock and powders. Also zero waste.

#36

I started using the cash back deals offered by my bank and CC. So far I’ve saved ~$25 this month on things I was buying anyway.

#37

My main approach:

– Put my wants on a want list (literal or mental), but wait 6+ months before I can purchase.

The impact is 80% or more of wants never materialize. It was either a spur of the moment purchase idea that fades, or I find alternate ways to address the want.

Examples:
– New porch furniture (since our current is uncomfortable)
– new couch (since that is uncomfortable too 🙂
– larger flat tv for bedroom
– Backyard deck or patio
– Shed for storing things (we have small, single car garage only)
– PS4 game system and game room
– New fridge (just for looks)

None of these materialized after going on the list. I came to value the savings vs. the spend, and make do with what we have. Works for us.

#38

I’ve found my balls and decided to perform some of the maintenance on my Volvo on my own.

Recently replaced the push start module, AC blower motor, and PCV valve. Overall the labor alone would have cost me $1700-1800 before parts. Parts alone cost me $530 and did the labor on a weekend.

YouTube and forums can be a godsend. A couple years back I’d be too scared to change my battery lol.

#39

Online shopping tip- install a chrome extension for reverse image searching and use it before you buy anything. Sometimes things are sold on multiple online retailers at different prices. I just switched from buying a sofa on wayfair to Target.

Sometimes products are being dropped shipped from aliexpress, especially when it’s a shopify site you get to from a FB ad. Reverse search might find this if the seller is too lazy to take their own pics, but long shipping times are a good clue as well. I ordered a garden tool recently, then discovered I could have bought it for less than half on aliexpress.

#40

I’ve been trying to actively practice gratitude for several years now as a mental health thing, and one unexpected effect is that it has made me more frugal. When I take the time to truly appreciate what I already have, my wants are less.

I’ve always been fairly frugal, but my general attitude has gone from “I’d like a new sweater but why should I spend the money when this one still fits fine?” to “Look at this fucking amazing sweater I own!” and not even thinking of buying a new one (unless I actually NEED one, of course). It’s nice.

#41

I make my own soap and hand wash. It’s quite therapeutic, fun, saves me money and reduces plastic waste.

#42

Shop at a dollar store. Many people think they just sell disgusting, cheap garbage. But what they don’t know is that most sell tons of food, and common household stuff that you just don’t need to pay a lot for. I’m reading a book about the broken U.S. retirement system (which it is), and it mentioned that many retirees are having to live on $12/day in food. Now, no offense to older folks on a strict budget, but if I just shopped at a dollar store for food (and they exist, though not all have everything you need), I could easily feed a family of four for $360/month. Just sayin’.

#43

Reduce, or otherwise the 3 biggest suckers of wealth out of your budget: housing, transportation, and taxes. Plus, food if you can. Don’t sweat the petty stuff; attack the big drain of money. Don’t buy/rent more house than you need; refi a mortgage (not good timing now); don’t buy/lease a car you don’t need; do everything to reduce your AGI (401k, tax deductions, change where you live); stop eating out so much, etc. Just make good choices, and math it up. It’s not difficult.

#44

We take advantage of several food giveaways in our area, limit grocery shopping to once every 2 weeks, and we earn about $100 per month by simply doing surveys through inbox dollars. We’re 3rd shifters, so we sleep with the a/c dialed down (or up, you know what I mean) during the hottest part of the day, and we do all of our yard/outside work between the evening hours of 6-10. We hardly ever go out to eat, although we do enjoy a pizza once in a while. We even snag a few of the “free – take one” magazines in those boxes everywhere and use them for our indoor dog’s potty pad. And of course, we shop in bulk (but only for things that are a better per unit price than anywhere else) at our local store, which as an added bonus always has a ton of free samples to snack on, as well as extremely reasonably priced food items in their snack bar!

#45

My local produce market often sells discounted bags of fruits and veggies that are past their prime. Last week I got a huge bag of bananas for $3. I mooshed up the squishiest ones and put them in freezer bags to use in banana bread, and the rest I sliced up and froze for use in smoothies. This particular market runs Fri-Sun, so if I go on Sunday afternoon I can usually get some great deals, as long as I’m willing to do a little work chopping and freezing afterwards.

#46

I enjoy the occasional frozen beverage such as a Slurpee, ICEE, Slush Puppie, Froster, Freeze, etc. Unfortunately, the machines are often broken and the prices have increased such that a Slurpee is now $2.99 plus tax in my area. I’ve been buying the pre-sweetened Kool-Aid and Country Time lemonade mixes on sale for $0.99-1.49 and using a bit of that with water and crushed ice in a blender so I can get 20+ drinks per per mix. It would likely be cheaper to use a sweetener and favor packets instead, but it’s a quicker and still affordable to use the pre-sweetened version. I’ve also noticed that Grocery Outlet and similar chains will have even larger mixes and different flavors for $3.99.

#47

Ordering groceries for pickup vs. shopping in store saves me a few hundred a month. No impulse purchases. Also? I leave my husband at home when I go to Costco. He has no self-discipline at Costco!

from Bored Panda https://ift.tt/2wprfUI
via IFTTT source site : boredpanda