Frugal living in Australia can be tough. When you’re consistently thinking about what you have left in your bank account and how to save money, daily activities can become even more stressful.
With the cost of living in Australia increasing by the day, it’s no wonder many of us are feeling worried about our expenses.
However, with some creative thinking and a willingness to explore alternative options, you can find practical frugal living tips to cut down your cost of living and reduce your rent burden. Even if you want to get your foot on the property ladder and are wondering how to buy a house with no money, you can find some awesome solutions here.
In this article, we will present you with 20 unconventional yet effective strategies to save money on rent and alleviate financial strain. By incorporating these ideas into your lifestyle, you can embrace frugal living without sacrificing comfort or convenience.
1. Write it down
Make sure you know and remember the ‘why’ behind your frugal living goals! Stick reminders in different spots around the house, maybe even on your hand or wrist. It’ll keep you motivated and focused on the prize!
2. Put your money where you can’t get to it
If you keep your savings in your checking account, you’re more likely to spend it. Putting your money somewhere hidden makes you think it doesn’t exist and that’ll help incentivise frugal living.
Put your money in a high-interest savings account or if you’re up for it, you could also invest it in the stock market.
3. Start a side hustle
Here’s one of our favourite frugal living tips—have you ever considered flipping furniture on Gumtree? It can be quite rewarding and profitable. Another option is offering your top-notch cleaning services using your own supplies.
You could also put your green thumb to work and offer lawn mowing services. Lastly, make sure to explore online platforms like Fiverr and Upwork, where you can find various job opportunities that match your skills. Remember, there are plenty of ways to boost your income and make some extra money!”
If you’re living in Sydney as a student (or in any other city), chances are, you’ll have some down time. And what better way to use that down time than to make some extra cash?!
4. Start meal planning
Meal prepping for the week is an incredibly useful habit to adopt. It allows you to save time, money, and make healthier choices. Consider bringing your homemade meals to work instead of buying lunch every day.
Not only will it help you stick to your budget, but it also gives you control over the ingredients and portion sizes. Another way to save some cash is by making your coffee at home instead of splurging on expensive café drinks.
And when you head out for your weekly grocery shop, go armed with a list and stay committed to it. This way, you’ll avoid unnecessary purchases and keep your spending in check. There’s even a shopping list app to help you create and organise your recipes while you go grocery shopping.
5. Grow Your Own Food
If you have a backyard or a balcony, you can grow your own food. This is a great way to save money on produce and herbs. Our piece on the Sydney vegetable planting guide can help get you started.
6. Prioritise Needs Over Wants
When it comes to frugal living, it’s essential to prioritise needs over wants. It’s easy to get caught up in the temptation of indulging in our wants, but by distinguishing between our necessities and desires, we can allocate our resources more effectively and save money in the process.
That new pair of shoes, need or want? The slow cooker, gym membership, haircut, need or want?
It’s about finding a balance between enjoying life’s little luxuries and making responsible choices that contribute to our long-term financial goals.
7. Don’t indulge in luxury shopping
This falls into the same category as prioritising your needs over your wants. While it may be tempting to splurge on expensive items or indulge in the latest trends, practicing restraint can go a long way in reaching your savings goals.
Remember, it’s not about depriving yourself entirely, but rather avoiding unnecessary purchases that will keep you aligned with your long-term goals. So, next time you’re tempted by the allure of luxury shopping, take a step back and consider the greater satisfaction that comes with building a healthy savings stash.
8. Reduce energy bills
To cut costs on your energy bills, it’s important to be mindful of how you use your appliances.
For instance, before opening the fridge, know what you want to grab to minimize the time the door remains open. Fridges and freezers can consume a significant amount of power when their doors are frequently opened or left open for extended periods, as the temperature inside needs to readjust. These habits can have an impact on your utility bills.
Another way to save on electricity is by opting for air-drying your clothes instead of relying on energy-intensive dryers. If the weather isn’t ideal or you lack yard space, consider using a clothes airer or a covered clothesline as an alternative.
9. Co-living Spaces
This may seem an obvious option, but living in a sharehouse can significantly impact your frugal lifestyle while providing opportunities for social interaction and shared responsibilities.
On top of that, when you live with others, you’re also pooling costs and therefore saving money. For instance, everyone uses a streaming service and often pays for their own account. If you’re living with other people, why not get a family account that lowers the monthly subscription fees?
If you’re living in Brisbane as a student, try and find the cheapest student accommodation in Brisbane, and the same goes for other cities as well. Seeking out the most affordable suburbs and co-living spaces can be useful.
10. Rent Negotiation
Don’t be afraid to negotiate with your landlord. Research rental prices in your area and present your case for a rent reduction based on market rates or property improvements.
11. Rent-to-Own Opportunities
Explore rent-to-own options where a portion of your monthly rent goes toward building equity in the property. This can be a viable long-term solution for those looking to become homeowners.
12. House Sitting
Register with house-sitting websites and offer your services to homeowners who are away for extended periods. House sitting can provide free accommodation in exchange for taking care of someone’s home.
13. Bartering
One of our favourite frugal living tips? Explore the possibility of bartering services with your landlord. If you have a skill or expertise that could benefit them, propose an arrangement where you exchange your services for a reduced rent amount.
It might not always work but when it does, you’ll be glad you asked!
14. Negotiating Parking Costs
If you need parking but your rental property doesn’t include it, negotiate with nearby parking lots or garages for discounted rates. Explain your situation as a long-term customer and inquire about any available discounts or special arrangements.
15. Tiny House Living
For those who crave frugal living in Australia, consider downsizing to a tiny house. Not only will you save on rent, but you’ll also significantly reduce utility costs and overall consumption.
16. Sharing Storage Space
If your rental property provides additional storage space, consider splitting the cost with a neighbor or someone in your community. This way, you can both save on storage expenses while still having access to the extra space you need. Of course, you’ll need to clear this with your landlord first!
17. Renegotiate Lease Terms
Approach your landlord to discuss the possibility of renegotiating your lease terms. Propose a shorter lease period or a flexible arrangement that works better for your budget.
18. Rent Reduction for Property Maintenance
Offer to take on minor maintenance tasks around the property in exchange for a reduced rent amount. This benefits everyone by reducing expenses for the landlord and lowering your rent burden.
For example, you can offer your landlord your services in maintaining the garden while you live there, a task that the landlord would otherwise be paying for. Frugal living in Australia is possible!
19. Live-in Property Management
Consider becoming a live-in property manager for an apartment complex or residential property. This role often comes with free or significantly reduced rent, allowing you to save substantially.
20. Get a Rent Subsidy
There are a number of government rent assistance programs that can help you pay your rent. If you qualify for a rent subsidy, you’ll be able to get help paying your rent each month.
The National Rental Affordability Scheme (NRAS) is a government program that helps to make rental housing more affordable for low-to-moderate income households. The NRAS offers financial incentives to developers and landlords who rent out their properties to eligible tenants at a discounted rate.
To be eligible for the NRAS, tenants must meet certain income and asset requirements. They must also be Australian citizens or permanent residents.
The NRAS is a great way for low-to-moderate income households to find affordable rental housing. If you are eligible for the NRAS, you can find more information about the NRAS on the Department of Social Services website.
Here are some additional details about the NRAS:
- The NRAS offers financial incentives for up to 10 years.
- The NRAS is available in all states and territories of Australia.
- The NRAS is a great way to find affordable rental housing in a competitive market.
What is the most frugal way to live?
The most frugal way to live is to live simply and avoid spending money on unnecessary things. You can also save money by being mindful of your spending and making a budget.
How do I start frugal living?
To start frugal living in Australia, you can start by creating a budget and tracking your spending. This will help you to see where your money is going and where you can cut back. You can also start by making small changes to your lifestyle, such as cooking at home more often or buying used clothes.
How can I live frugally without being cheap?
It is important to remember that frugal living in Australia does not mean being cheap. Frugal living is about living within your means and being mindful of your spending. It is about finding ways to save money without sacrificing your quality of life.
