5 Frugal Habits That Make Living Alone More Affordable, According to Kate Kaden

0filadendron · Getty ImagesLiving alone on a tight budget? A few overlooked money-saving habits could make a bigger difference than you think.Living alone, if you’ve never done it before or haven’t done it in several years, is a little intimidating on the financial side. It can feel overwhelming at first to juggle monthly rent or a mortgage, utilities and other expenses every month. However, if you manage your money carefully, you’ll find it’s easier than you thought to fly solo.

Frugal living YouTuber Kate Kaden recently outlined her top tips for how to afford living alone on a tight budget in a video, and chances are good you might already be following some of her advice.

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As you plan out your expenses for each month, Kaden recommended rounding up to a higher number than you expect for the total in your budget.

Some of your expenses will be fixed, like rent or your mortgage. Others, like electricity, will fluctuate. Rounding up means you’ve set aside enough money to act as a buffer in a worst-case scenario situation. If certain expenses turn out to be much higher than anticipated, you’ve got it covered.

If you only have yourself to feed, consider building a capsule list for your supermarket runs.

Kaden recommended picking ingredients, like bread, eggs, cheese and potatoes, which go a long way for making breakfast, lunch and dinner. By adopting a capsule grocery list approach, you’ll cut down on excessive costs and simplify every shopping trip.

Don’t feel pressured to fill your new space with trendy pieces of furniture and subsequently rack up tons of credit card debt.

Reach out to family or friends and see if they have any gently worn kitchen tables, chairs or dishware they’re looking to get rid of that you can (gladly) take off their hands. Accept anything you receive, which you can use with gratitude.

Living on your own means being extremely practical about your utilities.

Need to run errands? Kaden recommended batching them by picking one day of the week to do all your errands to save money on gas. Leaving the room? Make sure to turn the lights off. Doing laundry? Wash your clothes in cold water when it’s appropriate.

If you can live without tons of stuff, don’t buy it. Otherwise, you’ll find your new space quickly gets cluttered and you may end up running out of money earlier than anticipated.

This doesn’t mean you can’t enjoy your life as a solo living individual. Take care to spend your money on what matters to you the most and on the things you need during this phase of life. In the meantime, keep your eyes out for free fun, like local libraries you can visit, nearby parks where you can exercise and go for walks and other events happening in your new community.

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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