My last post covered four frugal strategies to help you stretch your money further. Today, I’ll cover five more:
- Bartering
- Buying used
- Salvaging
- Reusing
- Waiting
Bartering
Bartering has been around for a long time – and it’s a great way to obtain something you need without spending money. When you barter, you exchange goods or services with someone else instead of paying directly for them.
For example, you need a babysitter but don’t want to pay for one. You could ask a friend to watch your children for you – and in return, you’ll whip up a birthday cake for them. Or you aren’t in good enough shape to take care of your lawn or shovel your snow – so you ask a neighbour to handle it, and in return, you’ll take care of their cats while they’re on vacation.
Buying Used
This is a habit many people have already gotten into – in fact, “going thrifting” for second-hand clothes can be quite a popular activity. Whether on a tight budget or looking for a unique signature piece of clothing, buying second-hand can be a great way to save money.
You can also buy tools, furniture, and other items second-hand – but try to get them from a reputable place, so you aren’t buying something in good shape.
Salvaging
Many people throw out the excellent stuff – like wood – you can salvage. Whether you want to burn it to keep warm or turn it into something practical like bowls or tables, salvaging wood can save you a lot of money.
I was gifted a bike my son never used, and I didn’t want to throw it out or lug it somewhere to donate. So I put it outside with a “Free” sign, and it was gone in 10 minutes!
Reusing
Got a package from Amazon? Hang onto that box! Your cat will love it, or you can turn it into a little house for your kids to play with.
We saved empty margarine containers all the time when I was growing up. While I wouldn’t use them to freeze or reheat food, they’re great for temporarily storing leftovers or for people to take away with them – and they don’t have to return the dishes!
Waiting
This habit is a little different than the others because it requires you to do nothing. You can’t do this for items like food or a winter coat – but you can do it for major purchases if they are a want instead of a need. So if you think you’d like to upgrade your fridge or your car – but you don’t need to, waiting until an item is on sale or you can pay for it will save you a lot of cash in the long run.
Have I missed any frugal habits?
Let me know if you have any frugal habits that I haven’t covered in the comments!