2020 is coming to its end, making you think about which goals you have achieved and which remained a simple wish. You may even be increasingly reflecting on your budget and how you can spend less and save more in what is left from the year. 

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Yet, the truth is that being smart about your spending and managing your money is more a lifestyle than a one-time New year’s resolution. For many, living a frugal life is, above all, a lifelong commitment, reflected in every aspect of their living. For others, it may serve a purpose for a shorter season while reaching a particular financial goal, but again, reflected in their lifestyle. 

That said, being frugal, does that mean overhauling your daily routine completely. It simply means being conscious of your spending and concentrating on your financial priorities. How can you do that? Here are five practical tips to save money without drastically changing your lifestyle:

Tip #1 Reconsider your shopping habits

One of the best ways to start living more economically is by reconsidering your shopping habits. From clothes to groceries shopping, you will be able to save a lot of money only if you are willing to be more mindful of it. 

Consider using catalogues

What can help you tremendously is to start using online catalogue shopping. It has become an extremely popular way to shop since it offers the convenience of buying a great assortment of products from one retailer from the comfort of your home. You can shop for virtually anything you want and enjoy free delivery and fair returns policies. 

Yet, what is more important, weekly payback catalogues are available too, which are great if you don’t want to spend a lot of money at once, have a less than fortunate financial situation, or as in this case, you want to live more frugal. 

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Opt for a sustainable wardrobe

Thanks to the fashion industry, we blindly believe that quality fashion comes with a hefty price tag and exclusively from large brands. However, that is not the case. Today more than ever, we should be mindful of what we wear (and how our clothes are made) not only from a financial point of view but also environmentally. 

Opt for buying second-hand clothes or redesign, mend (and reuse) the ones you already own. For one-time events, look into renting and whenever you can shop with cash. If you want to buy something new, shop from young, emerging designers who have sustainability in mind when designing their clothing. To protect the environment (and your budget), follow the washing instructions, make your clothes last longer, and ultimately own fewer clothes.

Start cooking and mind what you eat

Groceries and eating out can make the biggest chunk of expenses next to housing and transportation. To control these expenditures:

1. Create a list for everything you need to purchase and avoid impulse buys.
2. Opt for buying in bulk, and when an item you regularly consume is on sale, stock up.
3. Importantly, do not throw away the last of dinner; save it and make it your lunch the next day.

When it comes to eating out, try reducing them by a third by cooking at home and meal planning. Cooking at home and carefully planning your menu is a lifestyle change that will save you money and improve your health. However, it’s important to select the right ingredients, which means steering clear of processed foods in favor of fresh alternatives. 

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Tip #3 Move your workout outdoors (and in your home)

Instead of paying for a monthly gym membership or buying exercising equipment for your home, start using public spaces and the great outdoors to move it without spending a penny. Choose to bike, hike, and walk to stay active. 

Become a steps junkie. Stair-climbing helps you strengthen your legs and hips while giving you the needed cardio. If you still miss the gym, do squats, make your own weights, do push-ups on the countertop in your home, or browse free online exercise videos on YouTube. 

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Tip #4 Follow the 50/20/30 rule

Senator Elizabeth Warren popularized the so-called “50/20/30 budget rule” which is an excellent tool for a healthy financial future. 

According to it, the best way to live is to spend 50 percent of your salary on your fixed costs, such as rent, transportation, and essential bills. Twenty percent of your salary should be put aside for your financial future, and the final 30 can be spent flexibly on eating out, groceries, shopping, hobbies, entertainment, or gas. 

Managing your personal finances in this way will allow you to live more economically and save for emergencies and retirement.

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Tip #5 Start a side hustle

Being financially aware does not mean only cutting down on expenses. It also means exploring possibilities to earn more money. That is why side hustles are fantastic because you get to make extra without the requirements of a substantial initial investment, which means the potential for saving more money is high. 

And nowadays, there are so many legitimate ways you can start and work from your home’s comfort. All you need is to assess your unique needs and skills and search the internet for potentially lucrative ideas.

Above all, start small 

Knowing what lifestyle changes to implement to become more frugal in 2020 is essential. You don’t necessarily have to devote all of your energy on making all the changes at once. You can start small by adopting one or two and work your way up by adding others at a pace that suits you. 

What is maybe more important is the change of mindset you are about to experience. You will soon realize that you can be entirely happy with what you have and that the less money you spend, the less you feel you need. And that is a unique and liberating feeling. 

What is certain, implementing these lifestyle changes will not only save you money but will make a long-term positive difference in your physical and mental health.