Six (6) Original Frugal Living Tips To Build Financial Freedom

Attaining financial freedom is a dream shared by many but achieved by few. It is the ability to live life on your own terms, free from the burden of debt and financial stress. But how do you get there?. One key strategy is to adopt a frugal lifestyle focusing on saving, investing and implementing smart financial decisions per your financial goals. Let's explore some tips that can help you reduce expenses and ultimately achieve financial freedom.

• Track your expenses: Understanding where your money is going by keeping record of every single transaction. Make a budget and categorize your expenses to identify areas where you can cut back. Free tools like Excel or Google sheets have free templates that can help you get started on budgeting and tracking your expenses.
• Cook at home most times: Eating out can be really expensive in this day and era. Note that it is not a bad idea to put money aside to give yourself a treat by ordering in or eating out sometimes. But try cooking at home most times because cooking at home not only helps you save money but also helps you eat healthier. Plan meals, buy ingredients in bulk and prep your meals either weekly or bi-weekly.
• Shop at a discount: Thrift stores, garage sales, and online market places offer great deals on items. Make use of these discount sales to help you cut back on cash.
• Avoid impulse buying: Practice delayed gratification and think twice before making impulse purchases. Ask yourself if you really need this item and if it's worth diverting funds from your financial goals.
• Use the 50/30/20 rule: Allocate 50% of your income towards necessary expenses like rent, utilities and groceries. Use 30% for discretionary spending which includes but not limited to gifts and charitable donations, vacations, clothing, gadgets and electronics and the remaining 20% for saving and investments and debt restructuring.
• Grow your own food: Consider starting a small garden or even just growing your own vegetables in containers in your porch. Growing your own food can save you money on groceries, save your health and can also be a fun hobby.

Frugal living is a journey that requires discipline, patience and persistence. Small changes add up over time so start with one tip and gradually work your way up to achieve financial peace of mind.