Looking to save money? Reap the rewards of frugality.

Looking to save money? Reap the rewards of frugality.

I often like to share tips and ideas to save money.


You can save on your shopping, your energy bills, and even when you buy gifts. In fact, there are so many different ways to keep the cost of living down, you may soon find frugality becomes routine.


Are you trying to save money? Reap the rewards of frugality.


Perhaps you have a few pounds left over at the end of each month?

You may find your savings are leaving you with some hard cash, and then what will you do with it?

It can be tempting to spend, but save it instead. Savings can be there for emergencies like a broken down boiler, or for upcoming birthday gifts.


The comfort of an emergency fund.


You might be trying to pay your mortgage off early, or perhaps you’re keen to fund your retirement plan.

There are so many options that you may be wondering which is the best for you – and if you do put all your savings into a pot, how can you be sure it will be safe?

Life insurance policies might seem like an attractive idea if you have a family.

Some can guarantee a payout after a fixed period or a lump sum should you become disabled. You could look up endowment insurance for application online if you want to find out more about this type of opportunity. It’s one of a number of ways you can invest all those savings you’re making.

If you’re looking to save up for a big purchase, you might use one of the tax-free ISAs that are currently available. Some are topped up by the government if you meet the criteria of a first-time buyer.

This means you can earn interest on larger and larger amounts.

Shop around for the best interest rates, as some are not great value for money. A low-interest rate could mean your money is worth less than when you paid it in.

Remember, the cost of living continues to increase, so you want the value of your money to increase with it.

You don’t have to buy anything on credit if you have savings.

Of course, you may have to delay your purchase date until you have enough cash put away. The value of this is in the interest rate you would have been charged for the loan.

Being debt free is a real possibility if you’re frugal enough to have savings.

It is best to pay off any debts you have before you start saving though. This is because the cost of your credit interest is likely to be higher than the interest you’ll earn in a savings account.

So what are the rewards of a life lived frugally?

You can clear debts and live comfortably within your means.

You might pay more attention to what you’re eating, and use healthier modes of travel like walking and cycling and, as a side benefit, save money.

Perhaps you can build up an ‘in case of emergency’ pot, so you’ll never feel the financial pinch of a boiler breakdown or roof replacement? 

There’s something to be said for having the comfort of knowing the funds are there when and if they’re needed.

Published by Christine Blythe

Christine is the owner and author for her three blogs: Empty Nest Ancestry, Feathering the Empty Nest, and Top Web Blog Tips. Periodically, if a post topic is appropriate to either of her other blogs, they will be published as a guest post by CJB.