Frugality and minimalism don’t require deprivation. You can live a fun, meaningful, exciting life while living within your means. In fact, being intentional with your money, time, and space makes your life even more fun, meaningful, and exciting.
Because minimalism is all about living with intentionality and not spending your energy on the excessive and unnecessary.
Here are eight things you’ll never see a frugal person spending their money on.
1. Extended warranties
Most frugal people skip these add-ons, preferring to set aside money for potential repairs instead of paying for coverage they will likely never use.
In most cases, an extended warranty or protection option is just a useless up-sell.
Frugal people also stay on top of their included warranties, so they can maximize the return and refund features if the item needs repair before the warranty expires.
Tip: Set reminders on your phone for the week before the warranty expires on expensive items. That way, you still have time to issue a return or file a complaint if you have a problem with the purchase.
2. Premium cable packages
Try to be mindful of any subscription costs you incur, particularly on unnecessary things like streaming services, cable packages, and subscription boxes.
The cool kids use free platforms to consume their media, like a local library, YouTube, or Pirate Bay.
3. Convenience foods and daily takeout
Meal planning, batch cooking, and bringing lunch from home are common practices to avoid the markup on prepared foods.
I remember a college professor talking about his daily ham sandwich lunch and how, when he’d turn down lunch invites from his colleagues, they’d say, “Aren’t you tired of ham sandwiches?” And he’d say, “I was tired of ham sandwiches ten years ago.”
But he wasn’t getting enough benefit from eating out every day to outweigh the costs. Lunch at work wasn’t something that brought him a ton of joy, so he went with a reasonable, affordable option and saved his money for stuff that had a bigger impact on his life.
That decision saved him thousands of dollars a year that he could put toward things that mattered to him.
There’s nothing inherently wrong with eating out, but I find many people are simply in the habit of it. They’ll do it because someone suggests it, or because they see their favorite fast food place on the way home. That indulgence–both in money and in less healthful food–doesn’t always contribute enough to your enjoyment to be worth it.
The less often you do something indulgent, the more special and enjoyable it will be those times that you do decide to splurge.
4. Credit card interest
Frugal individuals carefully select fee-free banking options and pay credit card balances in full to avoid interest charges.
Credit cards can be helpful tools, if you know how to use them. Essentially, a frugal person only uses a credit card on purchases they would already make and have the cash to cover. This allows them to pay their bill in full, earning points, cash back, travel miles, or upping their credit score without paying a cent of interest.
But if you know you’re someone who would overspend and not cover the statement in full each term, it might be better to skip them entirely.
5. Single-use items
They invest in reusable alternatives to disposable products like paper towels, bottled water, and single-serve coffee pods.
I realized how successfully I’d eradicated single-use items from my life last week when I had to go pick up trash from the river to have plastic bottles for my DIY seedling greenhouses…
I barely produce one bag full of trash per week, which means I can share a garbage bin with my neighbors and pay only a fraction of the bill. There are many financial benefits to avoiding single-use items where you can.
There are lots of ways to painlessly reduce your single-use items without going fully zero-waste. For example, I have a roll of reusable napkins in my kitchen, but I also keep a (sawed-in-half) roll of disposable paper towels for grease or pet messes.
I use significantly fewer paper towels without the inconvenience and ickiness of using a real towel for gross messes. If a sustainable change you make isn’t, well, sustainable, then there’s really no point.
6. Full-priced seasonal items
Frugal shoppers buy holiday decorations, seasonal clothing, and equipment during end-of-season clearance sales.
Super thrifty people do their Christmas shopping after the season, when all of the toys, gift baskets, and festive socks are half-price. If you’ve got a little closet space, this might be a great option to cut costs this year.
7. New cars
Buying a brand new car is one of the worst investments you can make. It depreciates in value as soon as you turn the key. The closest a frugal person usually gets to buying a new car is buying a lightly used one–you can even find cars made that year for a fraction of the price, just because someone drove it around a few times and decided they didn’t like it.
8. Spontaneous discount purchases
Shopping sales is great when it’s something you were already looking to buy. For example, Best Buy is having a clearance on electronics. There’s a difference between the person who sees the sale sign and walks in to buy things JUST because they’re on sale, versus the person who knows they want a new TV, so they wait for the model they want to be discounted.
You’re not actually saving money shopping discounts if you’re buying extra products just for the sake of the sale.
Looking to really up your frugality? Try out a no-spend challenge, like the No Buy Year.
