Frugal Living Tips: A New Year’s Resolution Check-In


As winter winds down, it’s the perfect time to check in on your New Year’s resolutions. To help with your 2018 financial resolutions, the following tips are simple ways you can get your finances in order and cut monthly expenses. 

Four Frugal Living Tips to Cut Monthly Expenses

Pack Lunch

Buying a salad at a local store can sometimes cost more than $10, but the average brown-bag lunch only costs about $4. Save a few dollars every day by purchasing food at your neighborhood supermarket and prepare lunches each morning before work or buy food in bulk and use Sunday afternoons as a time to meal prep. Packing your own lunch is also a healthier option than buying lunch on the go!

Cancel Subscriptions

Many subscription services like Netflix, Hulu, or Spotify are less than $10 per month, but you’re wasting money if these services go unused. Not sure when it’s time to cut ties? Check out our post about when you should cancel your subscription services.

Make Your Own Coffee

If you need a daily caffeine fix, consider forgoing the line for your favorite barista and making your own coffee instead. Much like buying your lunch, spending just a few dollars every day on coffee can add up quickly. Buy a bag of coffee beans from the grocery store and brew your own cup at home in a reusable thermos — both a cost-effective and environmentally friendly option!

Watch Your Money Grow

It’s true that money doesn’t grow on trees. By following simple money-saving hacks each month, you can use the extra money to set up a savings account, pay off debt, or invest in your child’s 529 plan or your 401(k). Allocating funds to these savings vehicles will allow your money to grow over time.

Every year, we make promises to be better versions of ourselves. Oftentimes, this includes making financial resolutions to save more money. While you may have slipped up already this year, being aware of your daily and monthly spending habits can go a long way in keeping your money resolutions as we prepare to “spring forward” into warmer months.


Erin Ellis
Accredited Financial Counselor ®
Philadelphia Federal Credit Union