7 Simple Strategies for a Frugal, Prosperous Life

By Stefanie O'Connell

If you have a limited amount of time and energy to devote to frugal hacking -- and let's face it, nobody is walking around with an excess of either resource -- it's best to use them on the bigger savings strategies. Sure, the little things absolutely add up over time, but clipping coupons requires more effort per dollar saved than snagging a better interest rate on your mortgage, for example.

Rather than driving to grocery stores all over town to cash in on small savings from various clippings or driving to the big-box retailer two towns over just to utilize a $10 off promo, think bigger. Don't let the excitement of scoring a deal or freebie cloud your judgment as to whether the pursuit of those savings are truly worthwhile. After you factor in time, gas and wear and tear on your vehicle, how much are you really saving anyway?

The small frugal hacks of daily spending are a great way to develop a habit of savings and conscious spending. Utilizing coupons and cashing in on deals when the opportunity present itself is a resourceful way to save an extra buck or two, but for the bigger, longer-term savings, consider these "ultra" hacks.