Are you tired of the ever-rising living costs and price inflation? Tired of your pay not keeping up with these costs?
Same here with us – recently we learned that our city’s property tax would increase between 3% to 5% with immediate effect! We have NO choice but to swallow this bitter pill. We can only be on the constant lookout to cut other costs whenever possible.
Read 7 Frugal Ways that Saved Us $1,300 Recently. It talks about our frugal tips for saving well too. This time round, we saved $2501.51.
What frugal tips did we use to save more?
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1. AntiVirus Software Renewal
Our Bitdefender AntiVirus Software was due for renewal. We had about a month to find the best deal before it expired. The renewal plan was super convenient with just a click, but it came at a suspected higher price.
Mr MMT used the tested strategy of accessing Bitdefender overseas websites to check for a better price. But this strategy didn’t quite work this time round 🙁
Read how you can sign up for the Best Free Antivirus Software and 4 easy Steps to Save Money on Software.
Luckily our son discovered a special sale and alerted us.
Frugal tip: Did you notice that it works better when all the family members are actively involved in saving money?
Next came the life insurance renewal. Our bill was $1430.86, an increase from $1310.15 in 2017. That was no surprise 🙁
Now, comes the interesting part.
When Mr MMT rang to cancel the policy, the insurance company offered a 25% reduction to try to get him to continue with them. Surprise!
When we were new clients, we were given a 25% discount. No longer new customers, we were not given a discount, until we wanted to cancel our policy. Like I said before, it doesn’t pay in this case to be loyal customers.
Having decided to change companies anyway, we insured with another company that covers our home and cars. That frugal move qualified us for a multi-policy discount. We were lucky as they were having a promotion – we got a $35 Visa gift card in addition to a very competitive rate.
Read how we saved hundreds on Insurance in just 5 easy steps. Use these tips to save money on your insurance too.
3. Buy more to save more
We used to take fish oil capsules, but due to the high risk of mercury contamination, switched to algae oil capsules. A bottle of algae oil with 90 caps would set me back by a hefty $50.
But we searched for and found the cheapest deal from an online pharmacy. The frugal tip of buying more bottles when it got us more discounts, saved us more money. And it came with additional discounts, free shipping and fuel discounts.
You may like to give this high quality algae oil capsules a go, as this is sustainable and free from toxins.
Read Frugal Living-22 Things We Stopped Buying To Save Money which explains why our family now prefers algae oil.
4. Free Service with a Smile
Mr MMT had wanted to rotate his car tires himself to save cash. Then he had a bright idea to have it done for free! (No, he didn’t ask a friend to do it for him).
He rang our garage to ask about the cost of a brake fluid renewal, which was a reasonable $61. Then he politely requested a free tire rotation. They said yes.
That polite request saved us at least $25 (the usual cost ranges from $25 to $50). Mr MMT saved himself much valuable time and effort too.
You can use this same frugal tip and have your tires rotated for free too.
5. House Insurance
Our house insurance was a pleasant surprise for a change. As we insure multiple things with the same insurance company, they actually reduced the annual cost.
This added to our overall savings. It’s not a huge sum, but even the small reduction is a win, don’t you agree?
6. Compulsory Managed Funds
Our managed funds was with our usual bank. But it doesn’t pay to stick with them for so many years. Due to a change in legislation, they had to disclose their management fees.
When we discovered they had been overcharging us in fees, it was a no-brainer to switch our funds to another bank.
It didn’t require much effort on our part. Most of the paperwork was done by the banks.
It didn’t make sense to stick to our usual bank when research showed that the best performing bank actually charges less fees. So we’ve saved money by shifting to the better bank.
7. Vacation Time?
If you’ve been reading my posts, you’ll know that my family hasn’t been on a vacation for 8 long years.
In an earlier post, I talked about how I sold unwanted things lying around at home. I made almost $700 with very little effort – sufficient to pay for our vacation accommodation. But then we decided to cancel our trip.
The reason? Running this blog requires lots of time and I didn’t think I’d enjoy my vacation knowing that things needed to be done.
I did have to pay $16.60 for administration charges, but that’s OK. The trip would have cost us an estimated total of $1120.
Our alternative plan was to go for half-day mini trips just outside our city on some days.
This required less time, effort, organization and planning, not to mention the savings.
Everyone was consulted and we reached this happy consensus.
8. Shopping Strategy
I’m always on the lookout for a pair of sports shoes for my son as a standby. Time being on my side, I can pick and choose the best value shoes.
I noticed a clearance sports shop offering great discounts – $46.35 a pair. What’s interesting is that I asked a staff member if he had a bigger pair, since the ones displayed were all too small.
He recommended another pair with a discounted price tag of $66.20.
I told him that my budget was only $46.35, and he sold it to me at that price!
Frugal tip: one bargaining strategy is to politely tell the seller that your budget is lower.
Well, my son loves this new pair. He tested it and was pleased.
Call me the meanest scrooge. I asked for a further discount as the soles were not as clean, as other customers had tried it on.
Sadly, it wasn’t possible. But I was content. I tried. I had everything to gain, and nothing to lose.
This strategy had worked in the past. But I didn’t include this in the table because those buys were made 2 years ago.
I would like to tell you this interesting experience.
In 2016, I bought a branded pair of sports shoes for $46.35. A year later, I tried to buy another pair (same brand) at a similar price from the same shop.
I approached a salesperson and politely offered $46.35, but she flatly refused to lower the price from $66.20.
A couple of hours later, I returned to the same shop. This time, I approached another staff member and politely requested for a discount. No specific amount was mentioned on my part.
Without any hesitation, she offered it to me for $46.35.
Let’s look at the savings achieved.
Total savings: $2501.51.
There you have it. Our frugal ways earned us total savings of $2501.51. As we have been frugal to begin with, it has got more challenging to save in the face of rising costs.
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Do use these frugal tips to save yourself more money in 2019. Happy saving 🙂
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