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10 Frugal Living Trends That Will Impact You In 2024

As we enter 2024, we will see trends that encourage is to live a more frugal lifestyle. Here are some of these trends. If you would like to support my channel!: https://www.buymeacoffee.com/williamsauQ Mint Mobile (save on your cell phone): https://mint-mobile.58dp.net/rn6rJQ Books I'm Reading The Dawn of Everything: https://amzn.to/3DZiaeI Who Moved My Cheese: https://amzn.to/3E0TNgF Outlier: The Story of Success: https://amzn.to/44gJxvF Chapters 00:00 Start Here 00:34 Increased Demand For Smaller Housing 01:40 The Increase of ‘Insurance Model’ Businesses 03:04 The Expansion of the Secondhand Market 03:49 The Increase of DIY 04:54 The Increase In No Frill Budget Alternative Options 06:08 More ‘Rack And Shelf’ Style Stores 07:23 No Frills Restaurant Alternatives 08:18 Small Businesses Offering Incentives For Cash Spending 09:49 Younger People Living At Home Longer 11:32 Stealth Wealth Although we have been seeing trends of materialism and consumerism this past year, as we enter 2024, we will also see many frugal living trends that impact how we live. In this video, I talk about 10 frugal living trends that we will see in 2024. 1. Increased Demand For Smaller Housing If you want to buy a house nowadays, all you will be able to find are very large houses because that is all that is being built; however, I think people are starting to see the cons of big houses and wanting smaller housing. In 2024, I believe we will see an increased demand for smaller housing. 2. The Increase of ‘Insurance Model’ Businesses Insurance companies make money by having a large population of people buy into it, but only a few people end up using it. We are seeing this business model become more popular with businesses outside of insurance like cheap gyms. In 2024, I believe we will see more of the cheap memberships. 3. The Expansion of the Secondhand Market Up until about 5 years ago, the secondhand market was very limited where we could only get it from a few places. In recent years the secondhand market has exploded as there are tons of places online you can buy secondhand things. 4. The Increase of DIY The internet has also allowed people to learn how to do things themselves rather than hire someone to do it. In 2024, I believe we will continue seeing this trend of DIY. 5. The Increase In No Frill Budget Alternative Options When you fly in an airline, there are two routes you can go: the expensive route where you get a nice service or the budget route where there are no frills. Although the budget route is not as comfortable, you save a lot of money by using these options. In 2024, we will see more companies offering "no frill" alternatives. 6. More ‘Rack And Shelf’ Style Stores When you go to the grocery store, there are two extremes: the first being Whole Foods that focuses on the aesthetics and the other being Costco that looks like a warehouse with racks and shelves. People are going more to these more basic places to buy things because consumers value prices over the shopping experience. 7. No Frills Restaurant Alternatives Restaurants have gotten very expensive in the last few years and we have seen the rise of food trucks that offer slightly cheaper prices with no amenities. I believe in 2024, we will continue seeing this rise of no frill eating out. 8. Small Businesses Offering Incentives For Cash Spending Small businesses prefer when customers pay with cash because they don't have to pay a fee to the credit card companies. Recently, we have been seeing companies offer incentives for their customers who use cash. In 2024, we will continue to see the rise of small businesses incentivizing customers to use cash. 9. Younger People Living At Home Longer In the millennial generation, it is very common to have a bunch of student loan and consumer debt and this is partly because they moved away from home when they weren't ready. I believe we will see the coming generations want to live at home longer to not be strapped by debt. 10. Stealth Wealth Stealth wealth is this idea of not feeling the need to show off your wealth. We often think wealthy people are very materialistic, but people are starting to understand that wealth is what you don't see and not feeling the need to flaunt their wealth. **Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **