10 Ways To Take the Pain Out of Penny Pinching

Do you find it tough to make ends meet on your tight budget? Penny pinching doesn’t have to be so hard. Here are 10 ways to make it easier.

You may have had to tighten your belt due to circumstances or be saving up for a big goal. Here are some simple ways to make saving money less painful, whether you’re doing it out of need or by choice.

1. Attitude is everything.

If you approach scrimping with resentment, you’ll end up unhappy. Try to see it as outsmarting the system instead. Think of coupon savings as free money you can use for something else. When you land a major discount, you can put the savings toward a fun outing that might have otherwise been out of your budget.

2. Reward your loyalty.

If you regularly shop at certain stores, consider signing up for their loyalty card. You’ll receive exclusive discounts and deals and might even earn free rewards, such as “buy one, get one free” or “$5 for every $20 spent”. Create a separate email account to manage retailer emails, keeping your main inbox clutter-free.

3. Get free gas.

I fill up at the cheapest gas station in town. The Gasbuddy app lists all the local stations and their prices, making it easy to find the best deal. I also use the GasBuddy Free Forever gas card, which lets me earn points toward free gas. Plus, I can link my store cards to earn even more points.

4. Give yourself the gift of time.

Instead of rushing to the store every time you’re out of something, stock up a bit and buy enough to last a while. This way, you’ll make fewer trips, save time and spend less on impulse buys — those extras that make it into your cart whenever you shop.

5. Enjoy prompt pay discounts.

Our healthcare provider recently offered a prompt pay discount, saving us 5%. If you always pay your bills on time, you might want to call your other service providers to see if they offer a similar discount.

6. Use competition to your advantage.

If you have multiple internet or TV service providers in your area, try calling your current company to ask about a loyalty discount. You might get a better deal and avoid the hassle of switching companies to save.

7. Have some free fun.

Most cities publish a weekly activities page that lists free outings, such as concerts, family movie nights in the park, library storytime, skate park picnics, bike trail adventures and school sporting events. You can also turn your backyard into a mini-oasis and have a staycation right at home.

8. Make a dream board.

What’s the point of pinching pennies, anyway? Are you saving up for a dream house, a fantastic vacation or a cozy lakeside cabin? Create a visual reminder by cutting out pictures of your ideal home or stunning sunsets over a tropical beach. If you simply want a better life, post photos of your kids and imagine a brighter future.

9. Track your progress.

Write down specific goals, such as a monthly spending plan. If you’re working to pay off your credit cards, mark each day off on the calendar until you reach the day you’re debt-free.

10. Reward your hard work.

Being frugal isn’t always easy and it’s natural to feel discouraged at times. When that happens, take a step back, review your progress and remind yourself of your reasons for doing this. Do something that brings you joy as you reach each milestone.

By doing so, you can make penny-pinching less painful and look forward to a more secure financial future.

Related:

• 7 Habits of Highly Frugal People
• Tips for Fighting Frugal Fatigue
• 5 Simple Budget Cuts That Can Save $200 a Month
• Staying Motivated To Dig Yourself Out of Debt
• Sticking With a Frugal Lifestyle Month After Month

Reviewed January 2024

About the Author

Shaunna Privratsky became an expert in personal finance out of necessity. Between writing, reading and gardening, she is always on the lookout for bargains. Visit her at The Discount Diva.