Having a budget is all about maximizing the value of the things you do purchase, not just what you don’t. In this video, Tasha tells you the best budget swaps for frugal living while still having a very happy life. Check out her Dollar Store hacks here:
Hi i’m tasha with one big happy life on behalf of the financial diet and this is the lifestyle fix so brought to you by well simple the lifestyle fix is all about helping you create the life that you want on any budget in today’s video i’m gonna be sharing some of my favorite ways to save money by swapping out higher cost things for lower priced versions of these
Same activities or things number one invest in a coffee maker instead of buying lattes chances are you probably come across the latte factor concept at some point but if you haven’t let me break it down for you the basic idea is that by forgoing your daily latte and saving that money instead by the time you hit traditional retirement age you could have an extra
1 million dollars in your nest egg when i first started working after law school i quickly got into the habit of swinging by starbucks on my way to work then i’d stop by again mid-afternoon for a quick coffee break with my coworkers i was easily spending over $10 a day on just lattes nowadays while i do still occasionally indulge in a chestnut praline latte
Every now and then i mostly brew my coffee at home i stock up on my favorite organic fairtrade dark roast when it goes on sale at costco and i grind and brew fresh coffee every day in the summers i’ll even make cold brew coffee using our french press making your own coffee takes less than 5 minutes of hands-on time and costs just a fraction of what a coffeehouse
Latte would cost if you want to add some extra flair you can always make your own coffee flavorings or you can purchase syrups or flavored creamers to add in set your coffee to brew the night before using a programmable coffee maker in the morning you can just pour your coffee into a travel thermos and go number two use reward cards instead of cash when it comes
To personal finance you tend to hear people singing the praises of using cash ever heard the phrase cash is king well studies have shown that people are more likely to overspend when they use credit cards and credit cards are notorious for having really high interest rates if you carry a balance but if you’re able to use and manage your credit responsibly which
Includes sticking to your spending plan and paying your cards off in full every month using credit cards could be a great way to save money many credit cards come with perks and rewards programs that can make the money you were already spending stretch even further credit card perks can take many forms some are automatic benefits that come when you use the card
Like extra insurance on purchases or free checked bags when you fly with a specific airline there are rewards programs like cash back cards that will give you a percentage back of the amount that you spent as a credit on your statement then there are points cards that can be redeemed for travel and hotel stays the southwest companion pass is one example redeeming
A hundred and ten southwest rapid rewards points will allow you to bring a friend with you for free on any southwest flight for a whole year the key to maximizing these perks is to make sure that you stick to your budget and pay your cards off in full every single month otherwise the interest you’ll end up paying will quickly erode the value of those credit card
Rewards number 3 subscribe to a food delivery service instead of eating out if your goal is to be over frugal and cut your grocery budget to the bone then the answer is to cook all of your meals at home and to use coupons sales and strategic bulk purchases to get the best deals on your groceries and if you’re looking for a few easy budget-friendly meals to cook at
Home i’ll drop a link down below to a recent video i did about that but saving money doesn’t have to be just a matter of choosing the absolute lowest cost option instead you can focus on finding a happy medium that will allow you to cut some costs while still leaving room for you to spend on little luxuries that add to your overall quality of life meal kit delivery
Services are a great way to add variety into your weekly menu without the mental work of finding new recipes and hunting down ingredients they also cost a lot less than eating out meal kit deliveries typically run about eight to ten dollars per serving whereas the average restaurant entree is around $15 they’re a great option on those busy nights where you don’t
Feel like figuring out what to cook there even a great lofa option for having friends over for dinner you get to try out new recipes it costs less than eating out and it’s healthier too number 4 rent from a digital public library instead of ebooks everyone knows that it’s cheaper to rent books and movies from the library but when you think about how much time it
Takes to go to the library and get the books plus the added worry of missing a return date and having to pay fines many of us opt for the convenience of purchasing our books instead well before you purchase your next book check to see if your local library has an e-book or audiobook lending program with my local library i can sign up for a library card online and
Receive it in the mail then i can download the library’s lending apps they have separate ones for e-books and audiobooks and magazines and browse their virtual catalog when i find a book i want to read i check it out and start reading it immediately just like any other ebook when my rental period ends it’s automatically removed from my library and i don’t have to
Worry about fines of course it’s possible that the book you want to read is already checked out by someone else in that case you can just put a hold on the book and it will magically make its way to you and automatically show up in your library when it’s your turn and it’s not just books libraries can also carry digital magazine subscriptions mine has esquire hd
Tv the new yorker cosmo and national geographic just to name a few so check out your local library as a convenient and cheaper alternative to buying ebooks and audiobooks number five buy machine washable clothing instead of dryclean only dry-cleaning is expensive it can easily cost five dollars or more per item which drives the cost per wear of your clothing
Wait up and while there are things that you can do to minimize the cost of dry-cleaning those delicate fabrics like finding a cheaper dry cleaner or trying out an at-home dry cleaning kit why not skip the hassle entirely and choose machine washable fabrics before i buy any item of clothing i check the tags care instructions if an item says it’s dryclean only i
Will typically put it just right back on that shelf now i know you might be thinking well i work in a professional setting i can’t just wear jeans and a t-shirt to work well lucky for you and for me because i’m a lawyer machine washable doesn’t mean loungewear nowadays there are quite a few clothing companies that offer machine washable business clothes including
Blouses shirts and full suits number six create a home gym instead of paying for a gym membership i’ve been living in my current house for over three years one of the first things we did after we moved in was to join the local gym it costs us $100 a month for a family membership and then we proceeded to basically not use it sure i was pregnant at the time and then
We had a newborn and our commutes are long and we had just started a youtube channel so yes we were busy but not so busy that we felt like that was a good enough reason for us to go so long between workouts in fact we noticed that we were far more likely to just go outside and run or head down to our basement to use our elliptical way more than we ever used that
Gym membership so we finally decided to cancel the membership and go all-in on working out at home you don’t have to buy a whole bunch of equipment to get started working out at home running or walking outside is completely free so is riding your bike if you want to take your workout indoors there are lots of great free resources on youtube that can help you work
Out at home from body weight based full body exercises to yoga and if you do want to start putting together a small home gym you can start off with inexpensive but effective equipment like resistance bands for weight training and an indoor trainer to turn your bike into your own personal spinning class and speaking of ways to save money well simple is an online
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Transfers and let it go to work in the background if you have any questions along the way you can always reach out to one of their money experts for a free portfolio review plus tfd viewers get a cash bonus for getting started check them out at wealth simple calm / promo / – lifestyle fix or use the link in the description box below thank you so much for watching
Be sure to thumbs up subscribe and hit that notification bell and tune in here every single friday for another new episode of the lifestyle fix see you next week you
Transcribed from video
6 Budget Swaps for a Frugal and a Happy Life | The Lifestyle Fix By The Financial Diet