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Cut Costs Like a Pro: 10 Frugal Hacks That Saved These Savvy Spenders Big Bucks

Frugal people share their best money-saving tips that worked for them in 2025

10 Frugal People Share Their Best Money-Saving Tips That Worked for Them in 2025

As we dive into a new year, many of us are looking for ways to save money and achieve our personal finance goals. Fortunately, frugal people around the world have shared their best tips that worked for them in 2025.

From smart budgeting to clever expense tracking, these money-saving strategies can help you take control of your finances and reach your dreams. In this article, we'll explore some of the most effective tips from these experts, along with a powerful tool that can help you put them into action: TogetherBudget.

1. Prioritize Needs over Wants

Frugal people know that it's essential to distinguish between needs and wants. By prioritizing essential expenses like rent/mortgage, utilities, and groceries, you'll have more money left over for discretionary spending.

  • Be mindful of your shopping habits: only buy what you need, and avoid impulse purchases.

  • Use the 50/30/20 rule: allocate 50% of your income towards needs, 30% towards discretionary spending, and 20% towards saving and debt repayment.

2. Plan Your Meals

Cooking at home can save you money on food expenses and help you develop healthy eating habits.

  • Meal planning can help reduce food waste and save you up to $500 per year.

  • Try batch cooking or prep meals for the week ahead.

3. Cut Back on Subscriptions

Frugal people know that subscription services like streaming platforms, gym memberships, and software can quickly add up.

  • Review your subscriptions regularly and cancel any that you don't use frequently.

  • Consider alternatives like free streaming services or local fitness classes.

4. Shop Secondhand First

Buying secondhand items can save you money on clothing, furniture, and other household goods.

  • Thrift stores, garage sales, and online marketplaces are great resources for secondhand shopping.

  • You can also swap clothes with friends or family members to refresh your wardrobe without spending a dime.

5. Use the Power of Compound Interest

Frugal people know that saving money today can have a significant impact on their financial future through compound interest.

  • Start saving early and consistently, even if it's just a small amount each month.

  • Take advantage of high-yield savings accounts or certificates of deposit (CDs) to earn higher interest rates.

6. Avoid Lifestyle Inflation

As your income increases, avoid the temptation to inflate your lifestyle with expensive purchases.

  • Instead, direct excess funds towards saving and debt repayment.

  • Use TogetherBudget to track your expenses and stay on top of your finances.

7. Take Advantage of Tax-Advantaged Accounts

Frugal people know that tax-advantaged accounts like 401(k), IRA, or Roth IRA can help their savings grow faster.

  • Contribute as much as possible to these accounts, especially if your employer matches contributions.

  • Consider consulting a financial advisor to optimize your retirement savings strategy.

8. Build an Emergency Fund

Frugal people know that having an emergency fund in place can provide peace of mind and protect against unexpected expenses.

  • Aim to save 3-6 months' worth of living expenses in a readily accessible savings account.

  • Use TogetherBudget to track your income and expenses, making it easier to build a safety net.

9. Negotiate Bills and Services

Frugal people know that negotiating bills and services can lead to significant cost savings.

  • Contact service providers (e.g., cable, internet, insurance) to discuss possible discounts or promotions.

  • Consider bundling services or switching to more affordable alternatives.

10. Stay Disciplined and Patient

Achieving financial goals requires discipline, patience, and persistence.

  • Create a budget and stick to it using TogetherBudget.

  • Celebrate small victories along the way and stay motivated by tracking your progress towards long-term objectives.

By implementing these money-saving strategies and leveraging the power of smart budgeting and expense tracking with TogetherBudget, you'll be well on your way to achieving your personal finance goals in 2025 and beyond.

By Malik Abualzait

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