Frugal living is an art and adhering to this type of money saving tactics may seem quite tedious because they entail some big changes. But what if the changes that come with these frugal living tips could actually lead to a more socially-engaged life style? The secret is putting these tactics into action along with friends because you will get to feel as part of a team. Let us tell you about five amazing money saving strategies that will bring you and your friends closer and help you save a pretty penny by the end of the month.
1. Carpooling Is Worth Trying Out
This is probably the most popular frugal living tactic out there. And the reason why it got so big is precisely the fact that it works like a charm. Since you and your colleagues are going to the same place, then riding together could make a lot of financial sense. Essentially, you could split the gas money and save on one of the biggest monthly expenses. Set up an itinerary with your carpooling buddies so that you find a route that suits all of you. Not only will you be able to put some money aside, but your mornings are about to get so much better. Even if you are not a morning person, at least one of your friends might be, which might brighten up your day.
2. Bulk Purchases Will Save You a Lot of Cash
This is yet another classic frugal living tactic that has earned some real trust over the years. The principle is simple: the more you buy, the better the price gets, which means that you have to buy more to save more. And the best way to put this one into practice is to find the products that you and your friends all use and then make a trip to the supermarket together. You can try bulk purchasing on your own as well, but this will be so much more efficient if you do it as a team with your friends. And the more of you there are, the bigger discounts you could get!
3. Share All the Subscriptions!
As we have mentioned for the others, the true secret to successful frugal living is applying good organizing skills. Have you ever thought about all the common subscriptions you and your friends share? If not, then start now because there are bound to be quite a few things out there. From magazines and all the way to Netflix, there are a lot of subscriptions you could be sharing with your friends. This would reduce a lot of your leisure expenses and maybe it could also open the path to some exciting group activities that you could do with your friends, such as watching some of those Netflix shows together.
4. Give a Penny to Earn a Penny
Since you and your friends are saving so much money by sharing expenses on groceries, subscriptions, and gas money, then how about you make a small group investment that could earn you a small fortune? We’re talking about playing the lottery as part of a syndicate. Choose a lottery game that you want to play, but instead of each of you buying their very own ticket, buy a bunch of tickets for the entire group. By playing in lottery syndicate, you go in with more chances of actually winning the game. So, with a small investment, who knows how far you can get?
5. Group Deals Will Save You a Ton
Playing the lottery is clearly not the only activity that you could do as a group. If you have a steady group of friends, then you should take advantage of the amazing group deals available out there. From restaurants to cinemas and all the way to clubs, there are tons of venues that will give you a discount as long as you bring some of your friends along with you. So, keep an eye out for these because they are bound to save you quite a bit.