News & Trending Money News

11 Smart Money Moves Frugal People Make (and You can Too)

Frugal folks avoid wasting money every day by taking advantage of these money-saving opportunities.

young beautiful woman working on calculator sitting on chair with laptop and papers on table
Updated Sept. 24, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

In today’s economy, many people are struggling to get by. But you can still grow your wealth simply by avoiding wasting money in small ways every day.

Frugal folks know that if you make these simple money moves you can enjoy big savings over time. Here are some things frugal people do every day that you can try.

Steal this billionaire wealth-building technique

The ultra-rich have also been investing in art from big names like Picasso and Bansky for centuries. And it's for a good reason: Contemporary art prices have outpaced the S&P 500 by 136% over the last 27 years.

A new company called Masterworks is now allowing everyday investors to get in on this type of previously-exclusive investment. You can buy a small slice of $1-$30 million paintings from iconic artists, all without needing any art expertise.

If you have at least $10k to invest and are ready to explore diversifying beyond stocks and bonds,see what Masterworks has on offer. (Hurry, they often sell out!)

Set bill reminders (or use autopay)

dusanpetkovic1/Adobe woman sitting on working desk smiling at paper in hand while using smartphone

Late fees make your bills more expensive. Simply paying your bills on time, every time can eliminate this scourge.

Many companies offer autopay which deducts payments automatically from your bank account of choice. That ensures you never be late paying a bill again.

Or if you prefer to pay bills manually, you can set reminders a few days before each bill’s due date.

Want to learn how to build wealth like the 1%? Sign up for Worthy to get ideas and advice delivered to your inbox.

Make a shopping list to help avoid impulse buys

Seventyfour/Adobe african american woman reviewing grocery list at store while driving cart

Walking through the aisles in a grocery store exposes you to hundreds (or even thousands) of products. Purchasing something simply because it looks good or just because it’s on sale won’t help you save money.

Making a shopping list before you go to the store can keep you focused on what you need. When you stick to the list and don’t fall victim to impulse buys, you reduce grocery costs.


Shop around for insurance to get the best price

Tamani Chithambo/peopleimages.com Save to Library/Adobe senior woman sitting in front of laptop smiling while talking on phone

Frugal people shop around to get the best price on everything, including insurance. This is a recurring cost that you pay at least once a year, so any savings you find here can add up over time.

When you've been with an insurance company for a while, it’s easy to renew the policy without a second thought. But if you compare car insurance rates, for example, you could save a bunch of money.

Resolve $10,000 or more of your debt

Credit card debt is suffocating. It constantly weighs on your mind and controls every choice you make. You can end up emotionally and even physically drained from it. And even though you make regular payments, it feels like you can never make any progress because of the interest.

National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.1

How to get National Debt Relief to help you resolve your debt: Sign up for a free debt assessment here. (Do not skip this step!) By signing up for a free assessment, National Debt Relief can assist you in settling your debt, but only if you schedule the assessment.

Try it

Choose and use credit cards wisely

InsideCreativeHouse/Adobe senior man sitting on couch at home working on laptop while holding credit card

Carrying over a balance from month to month on a high-interest credit card increases the cost of every item you buy with that plastic. If you can't pay off the balance in full every month, you should limit credit card purchases.

Some cards offer appealing low-interest or no-interest terms for a short period, but then switch to a much higher interest rate later. Be sure to read the small print before applying.

Pro tip: Switching to one of the best cashback credit cards for frequent credit card purchases can help you save by putting money back in your pocket whenever you spend.

Clip coupons and sign up for retailer rewards programs

Robert Kneschke/Adobe woman at store giving credit card to cashier

Clipping coupons is a great way to save money as long as the extra savings don’t tempt you to buy items you wouldn’t normally purchase.

Some retailers offer rewards programs that allow you to save money or earn free items. You typically need just a few minutes to sign up for these programs, and the savings can be significant.

Use the library to check out books and DVDs

Zoran Zeremski/Adobe young woman sitting besides book shelf in library

You can rent movies or purchase books, but checking them out for free from your local library prevents you from spending any money in the first place.

If you like to watch movies or read books more than once, they'll be waiting for you to check them out again in the future.

Wait for sales to purchase items and buy groceries in bulk

THANANIT/Adobe store with cloth racks having 15% off sale sign on them

If you have an expensive item on your wish list, try to save money by waiting for it to go on sale. For example, many retailers run sales just before or after holidays.

To save money on groceries, consider buying in bulk. Most times, larger packages cost less per serving size. Just don’t forget to repackage and freeze perishables you don’t use right away so you avoid having to throw them away.


Set long-term financial goals

RomanR/Adobe notebook on table with goals written over it

Long-term financial goals encourage you to look beyond this week or month and even help you save more.

Keeping your long-term goals in mind when managing money will help you make better financial decisions every day.

Pack lunches and snacks

Prostock-studio/Adobe african american man using laptop outdoors while enjoying snacks

Eating out is expensive, and that cost goes beyond restaurants. Even stopping at a convenience store regularly for a candy bar or bottle of soda adds to your costs over time. 

To make matters worse, these items are typically marked up at much higher prices in a convenience store than you would pay at the grocery store.

Save yourself from overpaying by taking a snack or drink from home when you're on the go. Packing a lunch rather than buying it on your break will also save you money.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

Combine errands to save on gas

kanpisut/Adobe refueling car at gas station

Running errands multiple times a week causes you to waste gas, especially when the destinations aren’t close to home.

So consider grouping your shopping trips together. You can also complete your errands when you're already out for other scheduled appointments or on your way home from work.

Also, if you aren’t already keeping track of your gasoline usage, give it a try. You might discover the cost of this expense is more than you thought.


Cook from scratch to reduce grocery bills

Drobot Dean/Adobe woman standing in kitchen chopping vegetables while checking laptop

Purchasing pre-packaged snacks or meals can be costly. Cooking from scratch and portioning your own snacks might take a little more time, but it can be more cost-effective. It’s often much better for your health too.

Bottom line

lovelyday12/Adobe man saving pennies in a jar

Frugal living can take a little getting used to, but even small changes in how you spend money can boost your bank account and your financial well-being.

Following just one or two of the tips on this list could improve your financial picture. Tracking your spending so you can see how much you're saving will also help keep you motivated and on track.

Lucrative, Flat-Rate Cash Rewards

5.0
info

Wells Fargo Active Cash® Card

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks
Card Details