Over 700 million peopleacross the world are living in extreme poverty, which means affording basic necessities like food, clothes, or internet is a luxury for many.
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Buy a bunch of identical socks. If one wears out or gets a hole, I can throw away only that one sock.
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I cut open my lotion, toothpaste, and other products to make sure I use every ounce!
While serious financial hardships are a challenge on their own, many people also struggle with simply managing their money. For instance, a2020 Intuit surveyof over 1,500 people revealed that more than 60% didn’t even know how much they had spent the previous month.To learn more about how to be mindful and intentional with our finances,Bored Pandareached out to Francesca Henry, the creator ofThe Money Fox, an Instagram blog where she shares her best cost-cutting tips.“I started my page because years ago, I found myself in a tough financial situation,” Francesca tells us. “At the time, there weren’t many Instagram pages like mine, and I had to trawl through Google to find websites that could help. Most of what I found was aimed at the U.S., though. When I started trying things for myself, like side hustles and budgeting, I realized I needed to share what I was learning so no one else would feel the way I did—searching for help but not finding any.”
While serious financial hardships are a challenge on their own, many people also struggle with simply managing their money. For instance, a2020 Intuit surveyof over 1,500 people revealed that more than 60% didn’t even know how much they had spent the previous month.
To learn more about how to be mindful and intentional with our finances,Bored Pandareached out to Francesca Henry, the creator ofThe Money Fox, an Instagram blog where she shares her best cost-cutting tips.
“I started my page because years ago, I found myself in a tough financial situation,” Francesca tells us. “At the time, there weren’t many Instagram pages like mine, and I had to trawl through Google to find websites that could help. Most of what I found was aimed at the U.S., though. When I started trying things for myself, like side hustles and budgeting, I realized I needed to share what I was learning so no one else would feel the way I did—searching for help but not finding any.”
I still reuse my ziplock bags… and grocery bags… and paper bags… and you get the idea.Edit: ok reading this thread I have more poor person habits than I realized.
Got a library card to save some money. Haven’t had a streaming service in a while.
Make a big pot of bolognese. Portion and freeze. Base makes chilli, lasagna, spaghetti bolognese and tacos.
Francesca shares that her favorite money-saving tip is finding ways to increase your income when you feel like you’re falling short, rather than cutting into your budget. “It only needs to be temporary until you’re back on your feet—or you can stick with it!” she says. “I tried out several different side hustles and even did overtime.”
And of course, you don’t always need to spend money to have fun. “Find free activities to do with friends, like potlucks, going for walks or runs, or visiting free museums,” Francesca says.
When I buy things that come in plastic containers (cottage cheese/sour cream/plastic take out type containers) I re use them for leftovers instead of buying the gladware reusable ones. It’s the same thing and I don’t have to worry about losing or ruining them. My fridge looks like my grandmas did growing up but I’m not throwing away more money on something I don’t really need in the end.
Wearing a jacket is cheaper than turning on the heat.
We went from poverty to upper middle class in the span of two years after I finished my Master’s degree. We are still frugal. We just don’t really buy stuff. We don’t travel or do vacations. All of our hobbies have us outdoors doing stuff for free anyways. We save and invest the extra money. We still have our beater cars and cheap apartment. Walmart and thrifted clothes. Buying basic and simple food in bulk and freezing. We just never changed our lifestyle. I think fear of someday losing it all and going back to poverty scares us, so we hoard what we can in savings and investments.
That said, it can be difficult to focus on healthy spending habits when financial struggles cause constant anxiety and take up all your mental energy.Studiesshow that financial worries are closely linked to higher levels of psychological distress. This often leads tolower self-esteem, feelings of guilt or shame, and can even result in depression.Having experienced tough times herself, Francesca knows how hard it can be to stay positive. She recommends adopting small, meaningful rituals that can lift your spirits. “Make time for activities that bring you joy, even simple things like spending time with friends at home or reading a book from the library,” she says. “Having accountability partners can help too.”Although financial setbacks may be temporary, there are still plenty of ways to brighten your life without spending much. Plus, the money habits you develop now can stick with you and benefit you in the future.
That said, it can be difficult to focus on healthy spending habits when financial struggles cause constant anxiety and take up all your mental energy.Studiesshow that financial worries are closely linked to higher levels of psychological distress. This often leads tolower self-esteem, feelings of guilt or shame, and can even result in depression.
Having experienced tough times herself, Francesca knows how hard it can be to stay positive. She recommends adopting small, meaningful rituals that can lift your spirits. “Make time for activities that bring you joy, even simple things like spending time with friends at home or reading a book from the library,” she says. “Having accountability partners can help too.”
Although financial setbacks may be temporary, there are still plenty of ways to brighten your life without spending much. Plus, the money habits you develop now can stick with you and benefit you in the future.
Accept free food. I used to be a picky eater. When I was poor I didn’t know when I was going to eat again so I was just thankful for anything that wasn’t spoiled or rotten.Be nice and courteous to strangers. I didn’t ever beg for money or food. I would help out people in my community whenever I could. Open doors for people. Clean up the trash on the side of the road or a parking lot. I helped this one guy push his car 4 blocks to a gas station after his car broke down in the middle of the street. -That guy gave me 100 bucks! (I was able to buy a cheap cell phone that led to me getting a callback for an actual job.)I taught myself how to sew. When you only have almost no clothing it starts getting to the point where you need to start “reinventing” your old clothes. I still patch up my suits, pants, and socks when they need it.
I grow vegetables in my garden from seed and put up the produce like grandma used to do.There is a change jar on the dresser where all the coins go. Roll em up and take em to the bank.Buy practical things and buy them for life.
I will never in my life buy candy at the cash register of the supermarket. If I am tempted, I will simply walk back into the store and buy a whole back. But I’m not paying 1,5 euro for a single snickers when I can buy a 6 pack for 3,5 euro in the back of the store.
Go up and down every aisle in the grocery store comparing the coust of a product. Also comparing sizes to coust so like I could get one larg bottle of mustard for 5 dollars but the smaller ones are on sale for 2 for 5 and I’ll be getting 4 more oz for free.
Save lots of containers for other uses… storing/ sorting screws, etc.
Only drink tap water. It’s fine in my location. No money goes to soda, hot drinks, or alcohol. This makes it easier to afford cheap groceries and maybe save up some money. I can afford to be less strict about it now, but it seems like a good and harmless habit to keep (considering sugar, calories, dental effects).
I freeze any food I can to ensure the food lasts and lessen the chances of being hungry the rest of the month.
Make a big pot of chili and eat it for days.
I was never poor, but my parents taught me to live in power saving mode.Don’t buy stuff you don’t need.Travel cost cautiously.Don’t buy expensive cars, cars are pure net negative things you sink money into in time.Don’t eat out all the time, just couple of times a year is enough.
I research for like 30 minutes before making any online purchase to make sure I’m getting the best deal while stacking the highest cash back and making sure I’m using the right credit card with the best offers. All this to save $30 that I throw away in 5 seconds when I’m drunk.
After you finish cooking food, leave the oven open and heat your kitchen for free.
Rich people throw out amazing stuff. If you know someone with a truck, you can go around the wealthy areas on garbage day and get all sorts of furniture, appliances, and clothing. A little cleaning and maybe a few minor repairs and you have lots of stuff to use or sell.
I make soup for like 5 days at a time.
Listen, cheapo ramen is just damn good.
We eat out now.but best believe we’ll have left overs and those left overs last me lunch and dinner for the next 2 days.
I’m still poor, kinda but I don’t think I will stop hording things like good containers when I get rich, if something that usually gets thrown away once it done its original job but still can be reused again, I’m keeping it.
I turn off shower while i lather up. I’m still poor but I grew up where there was not a lot of water bc poor community. Plus didn’t have a water heater so we had to heat up water in stove top. We bathed with a 5 gal bucket of water.
My diet still mainly consists of rice, beans, frozen veg, and oats.Still shop according to sales and coupons.Still collect bottles and cans. I tell myself it’s to recycle (I’m huge on RRR), but I have the urge to sell them and tell myself if there’s an emergency I can cash them in for a quick ten bucks.
Save chicken carcass after a roast and use for chicken stock.
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A can of black beans still counts as a meal.
- Drive a reliable 10+ year old car2. Buy items at discount stores or at thrift stores3. Cook at home4. Fly in the cheap seats5. Stay at friends when traveling if possible6. Focus on free activities hiking, library, etc.7. Try to do things for myself first rather than pay someone8. Live with roommates.
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I still eat many of the struggle meals I used to. I can afford better food than Hamburger Helper or canned chicken mixed in Knorr rice now, but if it ain’t broke, why fix it?I don’t eat them all the time - I do try to eat healthy and buy better produce, ingredients, etc - but on lazy days I still love me a box of Hamburger Helper or if I’m feeling fancy, Velveeta Skillets.
I still shop flyer sales. Branded productd aren’t always the best. For example, canned tuna. Once it’s dolphin friendly, I don’t care about the brand. I wouldn’t be surprised if all the cans come off the same boat and then get individually labeled.
Adding a dash of basil and oregano to a sandwich makes it taste like fancy, expensive bread.
I occasionally catch myself putting Coors Light into my shopping cart. I then remember I can afford beer.
Never finance toys.
Simply not going to the shops. I hate shopping anyway so it is easy for me. I can go a week without spending a penny at a shop. Also buy big bottles and refil the small bottles. Eg I buy the big ketchup and refill the normal sized bottle. 1 liter bottle $6. 500ml bottle $5.
Using ramen noodles as a quick meal because it’s too convenient.
Learn to pirate media, never pay a subscription fee but get to watch everything.
A sprinkling of basil and oregano on a sandwich makes it taste like fancy, costly bread.
Eat Ramen, the s****y square bag ones for like 25 cents. They’re delicious!
I still do all of them.Prepay phone is a big $ saver. I just don’t understand why people pay $150-300/month for phone service. That’s more than what I pay in a whole year for unlimited 5g.Shop at ethnic stores for bulk ingredients and spices. Food prep most meals.Live in the city and walk/bike/lyft/public transport because car suck and are a money hole.Stop buying so many “specialized” products. Pinesol (or other all purpose cleaner), dish soap, vinegar, and bleach are really the only household cleaning products you need. Shaving cream is just really pricey soap. And all that smelly c**p like air fresheners, candles, and airwicks are seriously bad for your lungs.If you’re not rotating your streaming services you are doing it wrong.Be handy or have handy friends for when things break. Lots of fixes for expensive items like fridges or ovens are simple with replacement parts that are cheap.\Know that bulk is not always mean cheaper. I’m looking at you costco.
I scour the stores' weekly ads for sales and coupons and buy in bulk/quantities when savings warrant it. I don’t have to, but growing up on welfare, those habits die hard!
Actively seeking for coupons and deals. If you do it right, it does save a lot of money.
I still do most of the work around the house, so I installed my own ACs, I do the electrical, plumbing, etc.I just can’t stand spending 1 to 2k on labor when I can just do stuff myself, even though economically, it doesn’t really matter to me.
Man i still borrow ketchup packets from fast food places like it’s my job… can’t let that frugality go to waste.
Sleeping in to skip breakfast cause you can’t afford to buy it, but then telling people you are on the 2 meals / day diet.
Rinsing off paper towels, drying them, and reusing them.Unplug everything when I leave the house. “Phantom Power”.Every time I make a sandwich, I struggle with justifying putting on two slices of cheese instead of one.I still subconsciously leave the last of something (drinks, snacks) for one of my siblings even though I live alone.
I don’t mind simple frozen meals like just chicken nuggets or just potstickers for dinner. I learned how to cook and got good at it while I was poor and now that I have a good salary I can enjoy making large portions for my girlfriend and I with good food that is cheap to make.
Hit different stores. Use coupons, stay with my clothes and electronics.
I don’t but Starbucks. I go to McDonald’s and get their ice coffees.
Napkins. Always take home Napkins when there is an open stack.
Heres my pro tip. anything that makes me feel poor, i stopped doing it.so nothing.Edit: for reference. my net worth was like 100k or 200k + before I stopped feeling poor. that gd poor feeling follows you around like a curse, long after you do get money.I’d heard stories about people with millions and still feeling poor. I was like fk that. id rather just not feel poor, if I can do that then I don’t have to be rich.and so yeah, that basically meant any of those “life hacks” that poor people do. that made me feel poor when i did them. i had to cut them outyeah maybe i dont save all the pennies i could. i give zero cares. i consider it the price of not feeling poor. a price I happily pay here and there.
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