Want to learn how to live cheap without looking or feeling like you’re cutting corners? You’ve come to the right place. Maybe you’ve felt and seen inflation negatively impact your checking account. Or maybe you just want to live a simpler life and focus on what matters – family, friends and enjoying the simple things.
In this article, I’ll go over several different ways to live cheap when it comes to where you live, preparing and making meals, buying clothes and more.
Read on to learn about how to live cheap, save and enjoy doing it.
Seek Out Alternative Housing Solutions
First and foremost, if you want to live cheap, you need to focus on getting creative with minimizing your housing expenses. Rent and a mortgage can take up a significant portion out of your paycheck. However, it doesn’t have to be this way. Here are several of the best alternative housing solutions so you can choose the best one for you.
Live with Family or Friends
Looking to save money short-term or even long-term? Why not live with family or a friend? Our Western culture generally looks down upon those who choose to cohabitate with loved ones. However, did you know that in other cultures, it’s very common to stay with family until you get married? Staying with family or friends also allows you to spend more time together and maintain a strong relationship.
Don’t want to stay with family or friends too long? No problem. Even choosing to stay with them for a few months while you save up some money for a rent deposit, mortgage down payment or even socking away money in your retirement account is a great way to kickstart good habits.
Find a Roommate
Live far from family or friends or don’t have any friends who need roommates? Search Facebook Marketplace or other online platforms to find a room for rent. Alternatively, you can find your own apartment, and if the landlord allows it, find your own roommate to sublet the room from you. If this isn’t possible, check to see if you can each sign the lease separately. Roommate living isn’t for everyone. The lack of personal privacy and potential for conflict can put some people off. Additionally, if your roommate wants to move out, you’ll have to deal with the job of finding and vetting a new roommate.
However, if you truly want to learn how to live cheap, getting a roommate is one of the best ways to cut your expenses in half – or even more if you choose to have 2 or more roommates and you’re splitting a larger place. Why not try it out? Even if it doesn’t work out, it’s a good way to try living cheaply temporarily.
Try Long Term House Sitting – How to Live Cheap and Enjoy New Living Spaces
If you aren’t able to or aren’t keen on living with family, friends or strangers, you have other options. Long term house sitting is a great option for those who are flexible with where they live.
What is Long Term Housesitting?
Long term house sitting is when you take care of someone’s property for 6 months or longer. Tending to someone’s home generally means that you’ll get free rent in exchange for tasks, including but not limited to:
- Taking care of pets
- Gardening and watering the plants
- Collecting mail
- Dusting, sweeping and other light household chores
Long term housesitting is an ideal option for homeowners who want to watch others’ homes, slow travellers who are happy to live in one place for a longer period of time and digital nomads. If you don’t want to commit to long term housesitting, why not try it out for a shorter period of time? Even a week or two spent house sitting can give you a feel for whether you enjoy the responsibility and don’t mind living in new spaces.
In addition to living rent-free, long term housesitting can be a fun way for you to try out new living spaces. Try living in a small flat with a balcony on Madrid one month, then pop over to the Mediterranean and live near the sea! Long term housesitting – or even short-term – can help you decide if apartment living is ideal for you, or if you absolutely need to live in a space with a backyard.
How to Live Cheap and Travel – Live in an RV
Want to know how to live cheap while still being able to travel? Downsizing your apartment or condo to living in an RV is a big choice, but for the right person, it can help you save money and give you flexibility and mobility with where you travel and when. When deciding to live in an RV, you’ll need to consider all the potential costs, including:
- The cost of purchasing and licensing the RV
- Parking fees – where will you park? Factor in overnight parking or national camp fees
- Cell phone data bills – don’t rely on the Internet. If you’re living in an RV and traveling, you’ll need to figure out how to generate a sustainable income stream. Working remotely? Be sure to have a good cell phone provider and data plan where you can hotspot to your laptop.
- The work itself – again, you’ll need to figure out how you’ll make money while doing the RV life. Can you work remotely for your current employer? If not, consider finding remote work and side hustles to sustain your travels. There are many ways to work online in 2023 – it just takes some effort and creativity!
Living on a Houseboat – Another Way to Live Cheap and Travel
Want another tip on how to live frugal in terms of your housing? Why not try living on a houseboat? Travel around on your boat, relax and enjoy more time spent doing the things you love instead of constantly cleaning a 1500+ square foot home.
Pros of Living on a Houseboat
- Access to Nature – by living on a houseboat, you’ll automatically spend more time outside. Whether you’re fishing, swimming while the boat is docked or simply sitting on the dock and enjoying the breeze, outdoor living is good for your body and mental health
- Potentially Paying Less Taxes – assuming you no longer own a home or are renting yours’ out, you may be obligated to pay less taxes. Be sure to check with your state or municipality to know what you’re getting into before committing to living in a houseboat.
- A simpler, more relaxed lifestyle – when you have less space to clean or buy furniture for, you can spend more time doing the things you love. Why not try taking up a side hustle or second job in your spare time?
Cons of Living on a Houseboat
- Extra expenses and taxes – while you may pay less housing taxes, you’ll likely be subject to docking or boat association fees. Again, check with your state and federal tax departments before making the jump from living on land to living on water.
- Maintenance and repair costs – if and when your boat needs repairs, you’ll need to front the costs. Be sure to cover yourself with boating insurance.
- Smaller living space – since houseboats are smaller, you may run into issues including cabin fever and increased conflicts with loved ones if you’re in a small space together. Remedy this by docking the boat and spending time on land frequently. Go for a swim, take a hike or explore the nearby town.
- Ability to host others – a houseboat often isn’t a good hosting space due to the small quarters. If hosting others isn’t your thing, then it’s no big deal, right? However, if you love having the extended family over for Christmas, you’ll need to make some adjustments to how many people you host and where you host.
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Prepare and Make Really Cheap Meals
Aside from housing, food is generally the second-largest expensive we have. Do you know how to live cheap without sacrificing your health? Simple: plan ahead, prepare and make frugal meals. With preparation and intent, it’s easy to make nutritious and tasty meals that won’t break the bank or force you up a jean size or two.
Here are the best ways to prepare and make really cheap meals.
Trade Meat for Plant-Based Protein
If you’re looking for a cheap way to cook while staying full and being healthy, swap meat for beans, lentils, tofu and more. Plant-based options are usually cheaper than meat and just as healthy. Additionally, meat alternatives are rich in calcium, protein and other vital nutrients.
Want to get started but don’t know how? Try cutting down on how much meat you use in a recipe and adding in beans, tofu or nuts instead. When making meat and mashed potatoes and a side of vegetables, double the size of your beans or peas portion. Beans and peas are full of protein and are a great source of many minerals. Do the same for other common meals like salads, chili and stir-fries.
Make a Grocery List and Meal Plan
A simple yet often forgotten practice to save money – make a grocery list and meal plan! When you plan meals ahead and stick to a grocery list, it’s a lot easier to avoid buying things you don’t need. Each week, look through your pantry and fridge to see what you already have. Base your meals around 5-10 core ingredients so you can buy larger packages. Why? Larger packages and cans of food are generally cheaper because the cost per unit is lower.
Write down your breakfasts, lunches and dinners for the next week. Then make the list of groceries you need to buy.
Compare Supermarket Prices and Price Match
Once you have your grocery list ready, open an app like Flipp and get to comparing prices. Compare a specific item at 2 or 3 grocery stores to find the lowest price. Do the same for your entire grocery list. If you have a car, you can easily pop over to the other grocery stores to get the cheapest item. While it may seem like a lot of work, it’s worth it. An extra $10-15 saved per week means $500-800 saved over the course of the year!
Meal Prep
Once you’ve shopped as frugally as possible, it’s time to meal prep. Set aside a few hours on the weekend to batch cook and prep your meals. Portion your lunches and dinners into containers and label them with each day of the week. Batch cooking saves you time and also helps you avoid temptation. When you have a ready-made meal with today’s date on it within easy reach, you’ll be a lot less likely to hit the ‘order’ button on the Uber Eats app! Overall, batch cooking will help you save both time and money – plus, making your own food at home is a lot healthier.
How to Live Cheap: Get Free Clothes
Aside from where you live and what you eat, what you wear is another major expense. Besides going to a thrift store and buying gently-used clothing for a fraction of the price of what you’d pay retail (which is still a great frugal tip), what if you could get free clothing? The good news is that it’s very possible to do this! Here are the main ways you can get clothing for free – or nearly free.
Commit to a Minimalist Capsule Wardrobe
Before you go out and find some new clothes, commit to living frugal by stocking and maintaining a capsule minimalist wardrobe. A minimal closet is a set of core clothing items that:
- Never go out of style
- Are of good quality
- Go with many different outfits i.e. you can mix and match the item to make different combinations
First, go through your wardrobe and get rid of any items you don’t wear or things you can’t repair. Compare your wardrobe to a minimalist capsule wardrobe list. Any items you don’t own or are too worn out can be replaced.
Attend a Clothing Swap
A clothing swap is an event where people bring their used clothing to trade with other people. Clothing swaps are a fun way to:
- Stock you wardrobe with basics and trendy items
- Try new styles you wouldn’t otherwise want to buy retail – what if you bought an expensive dress and didn’t like the way it looked on you? A clothing swap is a great way to try out new looks.
- Meet new people with likeminded interests
The only real cost of attending a clothing swap is the transport expenses to get to and from the event, which is why it’s a fantastic way to save money while looking great! While you’ll need to bring your used clothing, you aren’t losing money since you’re giving away clothing and getting some in return.
Ask for Used Clothing from Family and Friends
Aside from a clothing swap with strangers, why not ask family or friends if they have any old clothes? Many will be happy that you’re taking clothing off their hands – one less thing they have to do. When you take clothing from family members or friends, you’re helping them declutter their wardrobe while looking fashionable. If your family member or friend gives you some used clothing, why not treat them to a coffee or lunch to say thanks? This is a great way to connect and enjoy each other’s company while saying ‘thanks.’
Repurpose Old Clothes
If you’re handy, why not mend and repair old clothing? Learn how to sew and remake worn clothing into something entirely new. That old skirt you have can be sewn into a purse or made into a scarf. After mastering sewing and creating new clothing, you can start a side hustle selling your own creations. Get creative and enjoy it!
Other Ways to Live Cheap
Aside from the three major ways to cut down on expenses, here are other tips on how to live cheap without cutting corners on your health or reputation:
- Create a budget. Know how much you make every month and exactly how much you’re allowed to spend on needs and wants.
- Use a budgeting app like YNAB or Mint to track income and expenses.
- Always use coupons when going to fast-food restaurants and when grocery shopping.
- Call your utility companies (internet, phone etc.) and ask for a discount – this is especially a good idea if you’re a loyal customer. If you don’t get anywhere, state that you’re switching providers. Many companies will offer you a discount at that point since they want your business!
- Practice the “one in, one out” rule. Every time you buy something, you must donate something. Better yet, commit to always donating one item before purchasing another.
- Make your coffee at home instead of hitting up the Starbucks drive-through every morning.
- Turn off the air conditioning and use fans instead.
- Wash your clothes in cold water and do large loads to save money on electricity and help clothes last longer.
- Cancel streaming subscriptions and use free platforms. Check your local library to see if they offer movie streaming or e-books with a membership card.
- Cancel your gym membership and work out at home. Invest in a yoga mat and a few basic hand weights.
- Instead of ordering takeout, buy ingredients and make a special meal at home.
- Learn how to get a free car – if you’re tight on money, check Facebook Marketplace for free or low-cost cars. Many organizations such as 1-800-Charity Cars, Good News Garage, Working Cars for Working Families and Online Car Donation also provide free cars to those in need.
A Final Note on How to Live Cheap
There are many ways to live cheap without hurting yourself or others. Find a balance between being frugal and thrifty and being too cheap. While it’s fun to live cheap and save money, don’t take it too far. Don’t be afraid to invest in a quality pair of boots that will last you a long time if you couldn’t find a decent pair at the local clothing swap. Additionally, be sure you’re eating properly – don’t cut corners by making the cheapest meals possible.
Treat yourself every once in a while and enjoy frugal living!
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Janita is a frugal living expert and owner of Frugal Fun Finance. With over five years of personal experience finding and trying out the best ways to make and save more money, she's eager to share her knowledge. Janita's strategies have helped her save thousands of dollars for funding investments and traveling to over 20 countries.
Janita completed training in personal finance at The University of Western Ontario and McGill University, two prestigious Canadian universities. Her expertise has been shared on GoBankingRates, Yahoo Finance, and NASDAQ.com.
