8 ways to save money if you live alone, according to Frugal Living YouTuber Kate Kaden

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BartekSzewczyk/Getty Images

Frugal YouTuber Kate Kaden has tons of ideas when it comes to saving money, and in a June 7 video, she offered tips on how to save when you live alone.

If you want to live frugally, in other words, living modestly, saving money, and making very conscious financial decisions, there are some steps you can take that Kaden considers realistic.

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Kaden laid out seven specific ways single people can save and stop losing money.

sergiophoto84 / Getty Imagessergiophoto84 / Getty Images

sergiophoto84 / Getty Images

Stock up on essential items

First, Kaden says, you should try to stock up on essentials like toothpaste, soap and detergent when you see them on sale.

It’s really gotten crazy in the food world, hasn’t it? People say that when you get a cart full of groceries, it’s like a luxury these days, so at a time when groceries are so expensive, and we have to be really very intentional about our spending, intentional when we buy food, she said in the video.

For example, she said that when she shops online, she buys items that are on sale.

If you have toilet paper for sale, take it; if you see coffee and make coffee at home, take it, she added.

It’s a strategy other financial experts have promoted, including entrepreneur Mark Cuban, who recommends buying everyday items like toothpaste in bulk or when they’re on sale.

It’s best to buy two years worth of toothpaste when it’s 50% off; that’s an instant return on your money, he said in a video from 2023. When you see a sale on any of your must-have reusables, when they’re on a big sale on Amazon, buy them, because chances are their prices will go up, but that’s a real savings you can make. in your pocket.

See: Mark Cuban’s 5 Savings Habits

Read more: I’m a Self-Made Millionaire, But I Still Opt for the Budget Versions of These 6 Items

miniseries / iStock.comminiseries / iStock.com

miniseries / iStock.com

Make simple meals

According to Kaden, that’s one advantage of living alone: ​​You can eat what you want and you don’t have to cater to other people’s tastes, and, she says, not every meal has to be perfect.

If you live alone, take advantage of the situation and simplify your life.

You can just eat a simple meal, eggs and toast. You can make a sandwich for lunch, she said.

For you: I’m a cook: Here are 6 kitchen gadgets you never spend money on

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Rostislav_Sedlacek/Getty Images/iStockphoto

Make the most of your leftovers

Another tip if you live alone is to make the most of your leftovers, Kaden said. For example, she said you can repurpose proteins for a new meal by putting them on a pizza.

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iStock.com

Be relentless about saying Yes

As Kaden pointed out, if you’re trying to save money and be frugal, you’ll need to make conscious decisions to go out and try not to say yes to every invitation.

When they invite you to things, you have to think, OK, how much is this going to cost? Am I really that interested?’ she said. When you’re trying to save money, I would limit yourself to only doing the things that really spark a yes.

And as she further argued: It is important to reduce your commitments in order to really get what you want.

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iStock.com

Build a budget buffer

According to Kaden, the so-called budget buffer represents one month’s expenses that you have in your checking account.

It’s a setback when things get messed up for whatever reason, she said. This will prevent you from throwing your budget out the window when you make a mistake or something unexpected happens.

Be aware: Nearly half of Americans struggle to pay their utility bills: 5 ways to save

Dedy Andrianto/Getty ImagesDedy Andrianto/Getty Images

Dedy Andrianto/Getty Images

Try a week without extras

In other words, she said, try not to spend your money on anything other than bills and groceries for a week.

Do your normal thing, but just don’t buy anything extra. You don’t need shoes this week, you don’t need an extra outfit, you don’t need takeout, keep it simple, she said. See how it feels. You may find that you can do it for another week.

Anastasia Shavshyna / iStock.comAnastasia Shavshyna / iStock.com

Anastasia Shavshyna / iStock.com

Plan for guilt-free spending

While this advice may sound surprising at first, Kaden argued: Sometimes, if we feel shut out, we want to spend we want to spend revenge. We want to revolt against having a budget.

She suggested choosing a small amount of money each month to spend on something you want guilt-free.

It helps loosen the reins and helps bring home the idea that nothing should be so restrictive and narrow, she added.

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insta_photos/Getty Images/iStockphoto

pour in

Last but not least, Kaden stressed the importance of investing so that while you’re working your way back to your 9-to-5 or whatever your work situation is, your money is making money.

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