Suze Orman's 7 Most Realistic Frugal Living Tips (That Aren't Completely Annoying)

Living frugally often gets a bad rap, conjuring images of extreme couponing or never enjoying a night out. But Suze Orman, the celebrated financial guru, offers practical tips that balance saving money and living well. By following Orman's advice, you can take control of your finances without feeling like you're sacrificing everything fun or indulgent.

Let's dive into these smart tips, which are each a great way to stop wasting money while living life to the fullest. 

According to Orman, automating savings is one of the simplest and most effective ways to build wealth. By setting up automatic transfers to your savings account, whether monthly, biweekly, or weekly, you're prioritizing your financial future without thinking about it.

Start small if necessary and gradually increase the amount. Automating this process ensures consistent savings, and the money you don't see in your checking account is money you're less likely to spend impulsively.

Streaming services, gym memberships, and premium apps can quietly drain your budget. Orman recommends reviewing your subscription list monthly to identify services you no longer use or enjoy. Canceling just one or two unused subscriptions could free up hundreds of dollars annually without affecting your day-to-day lifestyle.

When shopping, Orman suggests asking yourself: "Do I really need this?" Shopping smart doesn't mean sacrificing quality — it's about being mindful of your spending.

Maintaining discipline when shopping can help keep more money in your wallet and help you stay out of debt.

Dining out is popular, but frequent restaurant visits can quickly drain your budget. Orman advises cooking at home to save money while enjoying delicious meals, a practice she lives by.

Planning your meals and cooking in bulk can help you avoid the temptation of takeout. You can even make it fun by experimenting with new recipes or hosting potluck dinners with friends. The money saved can go toward other financial goals — or that occasional special night out.

Frugality doesn't mean you have to deny yourself enjoyment. Orman champions creating a "splurge fund," a portion of your budget explicitly allocated for leisure activities.

Whether tickets to a concert, a spa day, or a weekend getaway, having a designated amount for fun ensures you can splurge guilt-free without jeopardizing your financial goals. Planning for indulgences allows you to enjoy life's pleasures while staying on track financially.

Leasing a car might seem convenient, but Orman says it's rarely the most cost-effective choice. Over time, leasing can be more expensive than buying and holding onto a car for years.

By owning your vehicle, you avoid endless monthly payments and build equity in something you can eventually sell. Plus, with proper maintenance, a well-cared-for car can last a decade or more, saving you thousands in the long run.

Suze Orman encourages embracing minimalism, starting with your closet. A minimalist wardrobe isn't about sacrificing style but investing in versatile, high-quality pieces you love and wear often. By cutting down on impulse buys and avoiding trendy fast fashion, you can save money while still looking put-together.

Suze Orman's approach to frugal living doesn't involve extreme measures; it involves thoughtful decisions that align with one's values and financial goals. From automating savings to setting aside money for fun, her tips are realistic, practical, and — most importantly — livable.

What could you do with the money you save by following these strategies? Whether boosting your bank account or investing in your future, small changes today can lead to significant rewards.