7 ways to frugally support the economy

If you’re anything like me, chances are you’ll do whatever it takes to hold on to your coins. Going even a dollar over one’s budget is a failure in the frugal community. And there’s no shame in that. 

With the economy taking back flips and cartwheels these past few months, saving cash whenever possible isn’t a bad idea. But it became a problem when it turned into a nationwide trend.

  • Businesses have shut down at rates paralleling the Great Depression, and it looks like certain industries may take decades to recover. And while that’s no individual’s fault, it’s still a tough pill to swallow. 

So as a penny-pinching consumer, how can you support the economy without breaking the bank?

frugal consumer

7 ways YOU can support businesses (on a budget!)

1. Social media sponsoring

I’m sure you’ve heard of social media marketing ( a.k.a. A modern business’ best friend. ) But digital support can totally go both ways, with consumers grabbing hold of the reins.

That’s right– even if you’re not an influencer with tons of followers, your posts can have a huge impact on your social connections. People are always more likely to follow the lead of someone they know and respect than an absolutely stranger.

Your personal testimony is more effective than an ad will ever be. So find out what that small business’ hashtag is, snap a shot of yourself either with the product or mid-service, and post.

Even if you don’t want to spend a bunch of money on the company’s products, you can still encourage your friends to try them out. And if they have an online shop or website, don’t forget to include the link in your post. 

Plus most businesses have social media accounts of their own, so definitely don’t hesitate to tag them as well. They’ll really appreciate it! 

social media marketing

Pingster is great for sharing photos of local businesses and tagging their locations. The photo will be shown nearly exclusively to local consumers who can even use Pingster’s built in “GPS” to direct them to the business.

If you prefer to use other social networks, then shouting out @pingsterapp on Instagram, Facebook, or YouTube is a huge help to Pingster. Tag your posts with #pingster and we’ll check them and probably repost.

2. Taking advantage of deals

No matter how bad we may not want to, everyone has to shop. It’s how we shop that defines our bank accounts. As a frugal buyer though, your budget is strictly set.

Meaning you can either buy a few higher-priced items or a bunch of lower-priced items. However, you probably don’t want to sacrifice quality at the expense of buying cheap goods.

So what should you do to get the most bang for your buck?

Shop deals, discounts, sales, bogos, and anything else with a marked down price.If you know from the get-go that you’re not going to spend more than a certain amount of money, then try and support as many different businesses as you can. 

Companies offer discounts for very specific reasons, and regardless of what that reason is, you’ll be helping them reach the goal they were willing to sacrifice a bit of revenue for.

You don’t have to be a generous buyer. But being a generous consumer can go a long way.

3. Word of mouth

Though one of the most basic forms of advertising, word of mouth is as effective as ever. If you find a business good enough to talk about, then talk about them. 

  • Share your positive experience with anyone willing to listen. Keeping great businesses secret is a great way to help them shut down.

  • Not trying to guilt-trip you or anything, but it’s the truth. Of course, you don’t have to sound like a walking advertisement. And you definitely don’t have to squeeze in promos during conversations where it wouldn’t feel natural.

  • However, if there’s an awkward silence– go for it. If someone compliments a product you got from the business – go for it.

  • And if someone asks you for a recommendation, don’t hold out on a business that’s served you well.

economy

4. Coupon surfing

I don’t know about you, but as a frugal consumer myself, coupon surfing is a very enjoyable pastime. It’s kinda like a mini black friday whenever you whip a coupon out. 

And when you actually view the price drop and think about how stupid you would’ve felt had you not used the coupon, the time spent coupon surfing is totally worth it. In more situations than a few, the one and only thing holding me back from a purchase was the final cost.

Factor in shipping and taxes and it’s a no for me. But coupons are game changers. The lessen the risk associated with the purchase. 

economy

They help you make confident buys with less regrets. Plus coupons make shopping very intentional. Instead of buying on impulse, you already know what you’re going to buy before you enter the store or search the online inventory.

So you don’t have to feel any post-buyer regret and you can still support businesses that typically fall out of your spending range. 

5. Second Hand buying

I’m fully aware that second hand shopping isn’t anything new. Hitting up goodwills and thrift stores have been pastime favorites for many, many years. 

However, second hand buying in 2020 has taken on a totally new form. That’s right; everyday consumers are able to make serious cash selling their used clothing and other goods through mobile apps. 

  • Mercari, Poshmark, and Depop are fabulous platforms for finding gently used clothing (designer brands included) at affordable, even garage sale prices. And Ebay has long been around for buying used and new goods in all departments.

  • Letgo and Offerup are all about connecting with sellers looking to get rid of items while getting a little something back in return. From furniture to toys to technology, textbooks, cooking supplies and more, there are always individual sellers out there relying on sales for their side hustle.

  • Supercharging the economy involves supporting entrepreneurs and side gig workers. So save your money and skip retail.

6. Leaving reviews

Who knew business support could come in the form of a few sentences and stars? Reviews are literally some of the best things you could ever leave for an up and coming business.

In the initial phases, most companies are trying to build brand awareness more so than anything else. They can’t expect sales if nobody knows who they are.

  • Fortunately, consumers like you and me have the power to provide businesses with the positive online presence they need. A couple of 5-stars is all they need for other customers to trust their services.

  • And thorough, though-out reviews are extremely useful for people deciding whether to buy or not.

  • If you can’t muster out anything else, it’s okay to leave a generic review, but the more specific the better.

  • A super economy needs super reviews right?

7. Supporting small or dying businesses first

economy

Walmart, Target, and Amazon are mega companies who are going to survive with or without your frugal support. It’s the dying companies and rising businesses who could use your sales and promos.

I know that it’s in our nature as consumers to go with the brands we’re familiar with. Theoretically speaking, supporting unfamiliar businesses doesn’t improve our lives in any way.

However, while it may seem like a burden to make the switch to some lesser-known company, it’s what our economy needs to thrive. Small businesses carry the country a lot more than most people realize.

  • So instead of hopping on Amazon because it’s convenient,  try narrowing down what you’re searching for, and opt for a niche-specific company. Even buying from different companies through major ecommerce platforms isn’t quite as effective as buying directly from the businesses.

  • Your traffic to either a physical or online location is what boosts their brand awareness and encourages purchases from other buyers.

  • Economies don’t thrive on monopolies. They thrive on thousands of businesses offering thousands of services. Support these businesses and you’ll support the economy.

Final Thoughts

You don’t have to be a superhero to leave a super impact on the world around you. Even frugal consumers have the power to supercharge the economy. 

With all this being said about opening up your mind to new businesses, Pingster would sit quite nicely on that list. Pingster is a social network offering a global community without the intimidating numbers. It’s totally free, with no in-app purchases and was created to genuinely better the lives of everyday people.

Whenever you’re looking for new businesses or places, Pingster is your go-to for immediate findings. You can even share shots of your own business.

Now that’s one way to supercharge the economy without spending even one cent.

Pingster Username: cierrasmith
Display Name: Cultured Simplicity
cierra smith
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