15 Tips to Save Money From Around the World

From the vibrant streets of Turkey to the bustling markets of Marrakech, cultures worldwide have very different insights on frugality and fiscal prudence, and indeed there is a lot we can learn from looking at other parts of the world.

Today, I want to present to you 15 tips to save money used by various cultures from all around the globe. These pearls of wisdom not only illuminate the universal desire for financial security, but also demonstrate the beauty of adapting practices to stand the test of time.

Stay tuned for budgeting tips to save money, inspired by long standing practices of our fellow nations.

1. Japanese Kakeibo

The first tip comes all the way from Japan. The Kakeibo method advocates for mindful budgeting, meticulous recording of every expense and then reflecting on the financial habits.

This way individuals can gain clarity on how they are spending their money, recognize their spending patterns and identify areas for cutting back and saving.

This is a very common way the Japanese budget, and it fosters a culture of financial mindfulness.

2. Swedish Lagom

The Swedish concept of lagom means “just the right amount”. It encourages a balanced approach to consumption by avoiding excess in all areas and embracing a simple lifestyle based on moderation.

By adopting this guideline, individuals can attain a harmonious and sustainable lifestyle by steering clear of unnecessary expenditures.

3. Indian Jugaad

In India, Jugaad refers to the art of frugal innovation. This resourceful approach involves finding inventive and cost-effective solutions to everyday challenges, emphasizing the importance of creativity over excessive spending.

It is all about your repairing, reusing, recycling and, very importantly, repurposing.

4. Dutch Fietsen

In the Netherlands cycling, or Fietsen, is a common economical mode of transportation. Embracing this practice reduces fuel expenses and encourages a healthier lifestyle, showcasing the financial and physical benefits of sustainable commuting.

Since in the Netherlands most of the land is very flat, with very few hills that would require maneuvering, it makes great sense to ride your bike.

5. Italian slow food movement

Originating in Italy, the slow food movement promotes the idea of savoring meals and embracing local seasonal ingredients.

By cooking at home and supporting local farmers, not only do individuals save money, but they also contribute to more sustainable and healthier eating habits and benefit the local economy.

6. Brazilian Troco

The art of bargaining, or Troco, is deeply ingrained in Brazilian culture. Haggling over prices in markets and with street vendors is not only accepted, but expected, showcasing the financial benefits of negotiating for a better deal.

7. Australian bill busting

Many Australians practice something called bill busting, which is actively seeking better deals on utilities and services. Regular reviewing and negotiating bills helps people trim unnecessary expenses and find cost-effective alternatives that will contribute to long-term savings.

8. German cash culture

Many Germans have a preference for cash transactions as opposed to credit cards. This conscious choice instils financial discipline, as individuals are more attuned to their spending when dealing with tangible currency. This helps reduce the likelihood of impulse purchasing.

9. Chinese red envelopes

In China, during celebrations, money gifted in red envelopes is considered much luckier if it is saved rather than spent, creating a savings mindset.

10. Mexican potluck social

In Mexico, potluck socials are a common occurrence, where friends share the cost of meals, reducing individual expenses and enjoying a communal atmosphere.

11. Norwegian Dugnad

Dugnad is the Norwegian tradition of community work, where neighbors collaborate on tasks, saving collectively on labor costs.

12. Thai budgeting jar system

Thais will use jars to allocate money to specific categories, in order to promote disciplined spending and savings. It would not be uncommon to have several different jars, all with individual savings.

13. South African Stokvels

Stokvels are communal savings clubs in South Africa, where members contribute and take turns receiving a lump sum. This facilitates collective financial growth.

14. Finnish Sauna Loyalty

The loyalty cards or memberships we use could be inspired by the Finnish sauna culture, where you can receive discounts on regular expenses at the saunas, such as coffees or gym memberships.

15. Bulgarian home gardens

Many Bulgarians cultivate their own gardens, growing vegetables and fruits. Maybe consider starting a small garden of yours, as well, to produce some of your own food. This not only reduces grocery expenses but also provides you with fresh locally sourced produce.

Tips to save money

From the meticulous budgeting of Kakeibo in Japan to the sustainable approach of Lagom in Sweden, these global money-saving tips offer a diverse array of strategies to achieve financial well-being.

Embracing the wisdom of different cultures allows us to weave a tapestry of financial habits that promote mindful consumption, sustainable living, and a wonderful connection with the rest of the world.

I suggest you spend a couple minutes reflecting how you could incorporate pieces of these practices into your own life, in order to live a more frugal lifestyle and gain financial security.

Do you have any frugal tips to save money which are particular to your part of the world? Let me know in the comments down below.