Frugal Trends That Will Impact You in 2024

The future of saving money begins by looking at current frugal trends. Let’s talk about trends in frugal living and what we think they will do in 2024 – and how they can help you prepare for higher prices in the new year. The times they are a'changing - and so is frugality.

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We're Hope and Larry and we love practical frugality. We raised our four sons, debt-free, including paying cash for our home when our income was well under the national average. For tips on saving money, budgeting, paying off debt, and setting goals (while living with a spirit of joy and abundance), subscribe to us here on YouTube and visit us at our website and on social media.

Information on Under the Median represents our opinions only. We are not medical doctors, medical professionals, nutritionists, or investment professionals. All content found on Under the Median is intended for informational purposes only. Please be sure to exercise due diligence and always contact a professional with any questions you may have regarding any information you have seen or heard on our YouTube channel. Use caution when following instructions in this video. The creator and publisher of this video will not be held responsible for any adverse effects that may arise from the use of any method on this channel.

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[cindiiscurious]

College professor here: I’ve seen a big change in my students over the years. They don’t wear labels now, thrift shop for clothes, and pride themselves on knowing how to cook great meals for friends. So different than I was at their age in the mid 90’s!

[malissachavira]

The only thing that is hard about thrift stores....I have watched prices go up and up and up over the last 3 years. And they will only continue to go up.

[deeplansandbudgets]

Thrift stores are no longer a value. I see items sold at the dollar store priced for $3. I see Walmart Shirts that sell at Walmart for $6 listed at goodwill for $9. You have to know your brands to get any value.

[alissonvonderlane]

Working from home; no bus pass, no 'I forgot my lunch home so I have to by it again', 9hrs more in my life!!! I LOVE IT!!!

[heathertackett]

You should do a video on frugal Christmas. Not just frugal gifts but what i really want is frugal experiences that build memories!

[seekingtheminimumlevel]

What I've noticed is that clothing prices at second hand stores have almost doubled in our area. My habit is to change out of work clothes as soon as I get home to make those clothes and shoes last longer. Also, I wash my clothes inside out to make them last longer and of course hang everything to dry. Hint - not every clothing item needs to be washed after one short wearing especially if it's not hot and you do not have a strenuous job where you sweat and get dirty.

[vickirobison]

We bought our first home in 1981 at 14% interest...a very small home. Happy to say we are now retired and mortgage free in another modest-sized home. We are able to live (and save) on only our social security because we have no debt. It brings a lot of peace of mind. Thanks for your channel.

[kerielkins]

With 6 children I have been scouring thrift shops for Christmas gifts. Bags of small toys for stocking stuffers, brand new games in boxes, books, etc. We have always bought at thrift stores, but we have never relied on it so much as we have this year.

[anneyday]

The problem is that it's harder to buy things that will last. I bought things for renovating my bargain home, from reputable companies with the eye towards them being here for the long run. To many of these items from faucets to ceiling fans, to switches, appliances and even a rain barrel have failed under low use. Glad to be mortgage free because I bought the home when the time & price was good, and I did a ton of work myself, but I am generally angry at the poor quality of things and how many I have had to replace already in just 3-4 years.

[katiejon]

It’s not so much that CNBC missed the point of “no spend challenges”, it’s that they actually understand and are afraid of consumers suddenly realizing how much power we have. This trend in thrifting is great - but there is the reality of the effects of supply-and-demand. Prices have already started to climb in thrift stores. Eventually that means retailers will have to modify their business plan (meaning their prices). The way we spend our money is likely the most powerful tool in effecting change... and the powers that be (which includes the media) are afraid that people are s going to accidentally learn this as they attempt to navigate this nightmare of an economy. Great video guys!

[faithrada]

Sometimes... a crisis Can turn into a blessing. We were looking to buy a house back about 40 + years ago when interest rates were 21 1/2 % for a building loan!
That sounded so insane we chose to build WITHOUT a mortgage.
It WAS a challenge and not always fun... but we managed, and in the end it was well worth it.

Because of the financial collapse, LAND was suddenly a good deal and we got 5 acres. We waited 2 years to afford the foundation.. a few more years and we did the Septic system and well... Then the frame and windows.. and then we moved in... with plywood floors, sheets for doors and cardboard boxes for our dishes. Basically we were camping out... INSIDE.
We did some work ourselves and sub contracted the rest.
Now we sit rocking on our front porch... reaping the rewards of all that hard work...so many years ago.
It's like my dad always used to say... " Do your work before your Play "

[judypeters]

Last week we discussed our pizza eating habits, during Covid we made our own when we could find ingredients. But once the pandemic was over we went back to our old habits, started with takeout, went to frozen and after tossing out half a pizza last week, didn’t taste good and we just couldn’t eat it. Our next pizza will be back to our homemade ones including homemade crust and sauce.

[beccacoleman]

This is not for everyone, but I think the best decision my husband and I made was to move in with his parents. There are 7 of us in a doublewide trailer (his dad, mom, brother, him, me and our two kids, along with 3 cats and 3 dogs) and we love it. His parents have a small "apartment" with their bedroom and full bathroom and a kitchenette and TV room...his brother has the converted garage...and we have the main house space with master bedroom, master bathroom, original kitchen and dining room, sitting room, and built two bedrooms into the livingroom space for the kids. We all have our own space and we all share the mortgage payment, which includes our solar field that takes care of most of our electric needs. Looking to add wind at some point but it's not a big hurry and we are conservative with electricity anyways, living without certain home appliances like clothes dryers, small space heaters and the like. Like I said, not a popular way of life, at least in America, but we are comfortable in our small spaces and have more than we need, for sure. And when my in-laws get old and need caring for, I look forward to doing so until they go home to be with our Savior, and I hope that my children will see the value in multi-generational homes as my husband and I age as well.

Side note: the space that my husband and I and our two kids live in is about 30x30, so nearly tiny house size. Personally I love it, I'm a minimalist, but I also have energy/health issues, so having a slammer space to upkeep is great. I never want to live in a large house. Small hobbit holes for me!

[heatherncasey]

I have been cooking at home, but the times I have eaten out, I have usually been very disappointed. I find I can usually make better food at home for much cheaper and probably healthier. Not in all cases, but most cases I have felt this way lately.

[elizaC]

Glad to see you two back doing videos together. Please keep getting rest when you can, we don't bounce back as quickly from stressful events as we age. So when you feel tired, listen to your body, even short rest periods helps our bodies recover.

[cassandrahodgen]

We bought what some would consider a "small" home, about 1300 sq. ft., in 2021 with a really good interest rate--2.875%. We've managed to pay down 10 years' worth of it just in the couple years we've been in it. So grateful we got that rate!

[jacquelinehenry]

Welcome Home Larry! For you of course, the studio is THE home😂❤

[dennismilby]

It dawned on me I could close off my upstairs because I was not using it being unable to use stairs. I now rent out my upstairs for $520 a month.

[MrsC]

Love these ideas. As the boomer daughter of parents who grew up in the Great Depression, I can relate to so many of these ideas. My dad was an electrician and our neighbor was a plumber. They use to swap services all the time. Many hours were spent helping my mom fill Green Stamp books for household items. Who remembers Green Stamps? Also, I do periodic no spend challenges when I know that I have a pricey repair or necessary item to buy in order to have the money available without interfering with our regular budget. Thanks for these helpful tips. Hope Larry is recovering well and sending healing vibes to him.

[lorrainreed]

I have been working from home since 2007. I was amazed at the amount of money I saved just on dress clothes and the 45 minute each way drive. I downsized from 10 pair of slacks to 4, from 10 blazers to 2, from 25 dresses to 10 - I like to wear dresses to church, except when it is very cold, so kept more of those. Savings on wear and tear on the car, tires, as well as gas. I had always brought my own lunch, so not much savings there, however, on late days, I was often too tired to cook, and would stop at the drive-thru on the way home, now eat dinner at home every day except for a rare treat. No more expensive coffee pick me ups either.