We arguably live in a throwaway culture in the West: instead of fixing or upscaling things, we tend to buy new products. And many of us spend money on frivolous things, left, right, and center. That new phone that just came out? That cutting-edge fashion statement of a coat? We’ve got to have them. Here and now. However, there is a different way to live.
The r/Frugal subreddit is here to save the day (and your wallet). A community of over 2 million dedicated members, it’s a platform for people to share advice on how to live a frugal lifestyle. And it’s been active ever since 2008. We’ve collected some of their best recent thrifty hacks below.
When you’re done enjoying this list and upvoting all of your favorite pics, make sure to drop by the comment section to share any frugal living tips that you might have, dear Pandas. And if you’re in the mood for some more r/Frugal goodness, be sure to check out Bored Panda’s previous article about the online community right over here.
Bored Panda was interested in learning more about frugal living and how to save money, so we reached out to financial expert Sam Dogen to get his take on things. Sam is the author of ‘Buy This, Not That: How to Spend Your Way to Wealth and Freedom’ and the founder of Financial Samurai. He told us that the number one thing that we should be doing is saving more money. Or, as he calls it, paying ourselves first.
“We need to always pay ourselves first by automatically contributing to our tax-advantaged retirement accounts and setting aside a recommended 20% or more of after-tax earnings to save and invest. The more you can make your savings and investing automatic, the better. People are surprisingly good at living on less,” he said. You’ll find our full interview with Sam below, dear Pandas.