Monday Night Finance- Volume 12

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400 Best frugal ways- save thousands in 2020

Lots of people are trying to save money now that the pandemic is causing record unemployment. Are you looking to cut expenses? Then this article is for you. In it, Jo from More Money Tips lists 400 different ways to save money. While you may already be doing some of these items on this list, with such a comprehensive list you’re bound to find a few frugal tips you haven’t even thought of yet.

238: Avoid unnecessary car trips. Consolidate your errands to minimize driving around and wasting gas. Double check your list of errands so that you won’t miss anything that will cause you to take another trip. ~Jo from

The article is subdivided into different categories. There are 76 ways to save money on groceries, and another 12 ways to save money on restaurants. I’ve been practicing tip #40, “use vegetable scraps to make stock” for years. It’s a great way to reduce food waste and use up carrot tops and onion peels that would otherwise be composted. Other categories include saving money on finances, lifestyle, health, energy, transportation, water, holidays, children.

Spend less, save more, invest more

Retirement is one of life’s biggest investment goals. Everyone wants to have a comfortable retirement. However, retiring involves decades of conscious saving and investing. Are you on the right track? Do you even know where to start? In this article, Mr. Highway from Highway to Retirement lays out some advice on how to put yourself on the fast track to retirement.

The sooner you realize that every dollar you spend today is worth $5.75 in 25 years, the faster you will realise the benefits of spending less, saving more, and investing more. ~Highway To Retirement

Mr. Highway’s advice can be split into three distinct stages: spending less, saving more, and investing more. With compound interest, every dollar you spend today has the opportunity cost of $5.25 twenty-five years from now. So cutting unnecessary spending can quickly boost your retirement savings. One tactic presented in the article is to ask yourself if you’d still make the purchase if you knew it cost 5 times as much. Once you’re spending less, you will want to save that money (and not divert the savings to a different category of spending). By investing those savings, they will grow and fund your retirement.

Actually I’m not okay

In North America, we have been socially distancing for 6-8 weeks depending on where you live because of the novel coronavirus. These social distancing requirements have changed not only our economy, but our habits and everyday lives as well. It’s a big adjustment to switch from having kids who attend school to helping them learn virtually while working from home. Likewise, it’s not possible to go to the gym to workout or have drinks with friends at a happy hour. In this article, Chrissy from Eat, Sleep, Breathe FI shares how the COVID-19 pandemic has changed her life (beyond having to cancel her trip to Japan).

Next, there’s the disconcerting strangeness of this whole COVID situation. It’s like we’re at war… but not really. ~Chrissy from EatSleepBreatheFI

Chrissy is happy to report that her family has not contracted the coronavirus. However, while normally an optimist, Chrissy shares that in many ways she is struggling from the pandemic. She lists 20 things that she misses or has missed since social distancing began. She then lists several major fears that are consuming her attention. How many people will get sick? How will the impact the economy? What about school aged children without WiFi? If you have similar concerns, check out the article for a thoughtful look at these issues.