Mastering Frugality: 10 Strategies to Save Big in 2023

There isn’t anything I dislike more than finding out I am spending too much money on goods or services. It can be extremely frustrating hearing that a friend’s family of 4 pays $125 for their cell phone bill and your’s is in the $200 range. That is more than $900 a year I am paying for the same cell service because I didn’t do my due diligence! With this in mind, I have listed a few ways I have learned to save money that put me on the path to a more frugal lifestyle.

Insurance Quotes

Call and get several quotes from local insurance companies for your home and auto. If you have students that drive, and if they have good grades, you should qualify for discounts. Bundling your home and auto should always benefit you with additional discounts. We currently have Travelers. I am listed as the primary driver on both of our cars and even though my daughter drives the other car, I get a higher discount this way. Not all carrier’s will allow this, but since I own the car, this is an option we have with our current carrier. We also do auto-pay monthly which allows for another $10/monthly in savings. That is $120 extra in your pocket per year for just paying your bill automatically through your checking or debit account. When we switched this last year, I saved over $1200 annually! I was blown away. All you have to do is call, it cost nothing to get a quote.

Plan your Meals

Simple steps like taking your lunch everyday to work can mean big savings down the road. On average Americans spend $3,000 per year on eating lunch out. This blows my mind. I like to travel more than I like eating lunch out during the day……that could be the difference in a vacation away somewhere. Take your lunch to a park or just outside in your car if your like me and need that hour away from the office.

Check your cell phone bill

Do your research beforehand, be prepared when you call your carrier. If you are with Verizon and you see that T-Mobile is offering something better, call them on it. Make sure that you have notes in front of you so can tell them specifics of the other plan and although you have loved being their customer, you can’t argue the math any longer. Be kind, do not get upset, they will either match the price or you can switch carriers. I have never had to switch carriers and have been able to negotiate my bill down several times.

Install a programmable thermostat

There are plenty of programmable thermostats that won’t break the bank. The one we purchased is Honeywell 7 Day Programmable Thermostat. There is an app that you can use to set your temperature when you are away from the house. Check with your local power company to see the settings they recommend. Each area will be a little different. We set ours to 65 in the Winter and 74/76 in the Summer. Our savings from this one step in one year was over $500 annually.

Use Coupons and check sale papers

I try my hardest to not buy anything unless it is on sale or I have a coupon. This can be challenging when you are meal planning. I will even plan our meals around coupons if I can. It can get crazy for sure, but if it saves us money down the road, I will try anything.

Cut the cable

Sign up for streaming services like Hulu, Netflix or RedBox. Your local library should have movies, audio books and CD’s that you can check out for a week or more. Check your local resources for media.

Dump all memberships

No gym can offer you anything more than what you can find for a lower rate at a local recreation center or even a park. If you have to lift weights for your workout, invest in a good set and be done with the month to month trap. There are so many free outdoor activities in most places, do your research and see what is available in your area. I would walk the track at my daughter’s school while she was at softball practice and we loved the local rec center which was only $35/monthly for our family and offered tons of exercise classes, swimming pool access and tennis courts.

Shop used

I don’t understand why there is a stigma around this issue. There are so many great options when buying used. Its as though our society has ingrained in our heads that if what we are not buying brand new, then its not the best and we should be ashamed in some way. I don’t get it. We buy used or second hand often. I remember wanting a pair of Sorel Boots before a Winter trip one year. Several times I came very close to buying a brand new pair for $145 or more. That Christmas I received some money from my dad and decided I was going to “treat” myself. I don’t remember exactly why I didn’t purchase the boots at that time, but I didn’t end up making the purchase. When we arrived at the town we stayed over Winter break, I decided to stop by a consignment store. Guess what I found, a pair of Sorel boots, in my size that were only $20! I still have them to this day and they are awesome! You just have to be patient and sometimes a good deal will find you.

Quit bad expensive habits

If you are a smoker, I feel for you. I really do. Both of my grandparents were life long smokers and I loved them dearly, but the cost of those cigarettes over their lifetime was astonishing. If you have ever thought about quitting, make this your year. Take it slow and find resources near you to help. Most people can’t quit cold turkey, try to work towards weaning yourself slowly. Your willpower over this addiction will only make your life all the more better for winning this battle. Drinking, eating too much sugar, shopping with no restraint, these can all be detrimental to your finances if you don’t take control. You can do it!

Negotiate a lower interest rate

Start checking interest rates for home refinance if rates are dropping. You can save yourself so much if this is an option for you. Ask your current lender to match what you could go somewhere else to do. They may just want to keep your business. Just remember, do your research. Have an offer in front of you, they will want to know the company they are up against. Be prepared to move if they can’t match your new lower rate. It will save you thousands in interest down the road.

These are just a few ways you can dig in and start saving you and your family money throughout the year. If you guys can add to this list, let me know in the comments below! I am always looking for ways to save!

This post contains affiliate links. If you make a purchase through these links, I may earn a commission.