Top Ten Frugal Tips for High-Income Earning Women

Top Ten Frugal Tips Women

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This is a guest post from my fellow woman physician blogger, Dr. B.C. Krygowski. She’s a palliative medicine physician who discovered FI & Frugality as a way of life. She blogs at, and she has ten tips that any high-income earner should try out to add more frugality to their lives.

# 1. Look into Home Exchange.

Home exchange saves me serious money because I can swap homes and cars with other families for overseas vacations.

# 2. Schedule a half-day to sit down and figure out your priorities.

Do you say you want to be mortgage-free more than anything, yet you continue to take four (or more) exotic trips a year? Your life actions say something different than your words. Maybe consider cutting the exotic trips down to one or two a year and put the money you’ve saved towards paying off your mortgage instead.

# 3. Track your expenses.

Doing this helped me to find acceptable, but less expensive ways to achieve the same quality of life.

# 4. Commit to one month of decluttering your house.

Seriously, this is guaranteed to make you spend less money. You’ll be horrified at all the stuff you toss, give away or donate during a one-month declutter binge. In the future you will stop buying so much stuff.

# 5. If you have an Aldi near you, learn to embrace Aldi.

Shopping at Aldi helped us slash our food bill The trick is to stock the car with bags and quarters so you can get a shopping cart and bag your own groceries. Aldi saves us time too: it’s the quickest grocery store to get in and out of. They also now deliver with Instacart.

# 6. Learn to cut hair—don’t be afraid, you can do this!

When my husband started to read Mr. Money Mustache, he went to Walmart and bought a color-coded, foolproof hair trimmer. It came in a plastic container with instructions. I discovered that after a few tries I could cut men’s hair. I estimate this $22 investment saved us about $6,000 over the years of cutting not only his but our two boys hair. Plus it’s saved us time because I don’t have to wrestle the kids into the car.

# 7. Stop shopping.

Send your significant other into the store instead. My husband goes in with a list and only exits the store with what’s on the list. It’s like he has blinders on when it comes to impulse purchases.

# 8.  Embrace the Instant Pot.

Not only will this fantastic device save you time, but oodles of money too!

# 9. Learn how to store food properly, so you waste less.

I have to admit though, I’m a visual person, so the mushrooms kept going bad when we’d put them into brown paper bags. Out of sight, out of my epicurean mind. I’ve taken to propping them on their side on the shelves at eye level, so they’re the first things I see when I open the fridge door.

# 10. Periodically examine your expenditures sheet with your significant other.

This falls under “What are your goals/priorities?” We sit down a few times a year to examine our spreadsheet and analyze where we should spend not only less but also more money.

Girlfriends, I have faith in you taking control of your finances—you got this!


B.C. Krygowski

Final Thoughts on Frugal Tips for High-Income Earners

It’s easy to fall into the trap of allowing a high income to dictate high spending. You certainly don’t have to use all these tricks all of the time. However, by making frugality a priority in your life as B.C Krygowski does, you’ll be surprised how much money you can save and invest without feeling like you’re making huge sacrifices.

Join the Wealthy Mom MDs Facebook Group to continue the conversation!

Did any of these frugal tips surprise you? What do you do as a high-income earner to keep more money in your bank accounts each month?

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  1. Crispy Doc on January 28, 2019 at 12:59 pm

    I’m a huge fan of B.C., so I’m thrilled to see her share her philosophy on this platform. There’s plenty here for men to learn from as well. Looking forward to the day more physicians cut hair at home!

  2. B.C. Krygowski on January 29, 2019 at 8:27 am

    Thanks for including me on your awesome blog!

    • Miss Bonnie MD on February 4, 2019 at 12:19 pm

      Thanks for sharing awesome tips!!

  3. NAD on January 29, 2019 at 3:07 pm

    I wouldn’t call these “frugal” ideas for everyone, but hubby (MD) and I (engineer) clean the house ourselves. We finally stopped using a housecleaner 2 years ago and it’s been great so far. The key is to do one tidying or cleaning task for 15-20 min a day, and you can keep up provided you don’t have a 6000 sq ft home.

    I stopped using rewards credit cards and switched to cash back credit cards. I found the payback was much better with cash back credit cards. I also take advantage of the price matching feature on our Citi card.

    I get hand-me-down clothes for the kids from relatives and friends. Some things I’m even able to consign. I only shop for myself and my husband twice a year, at the end of a season, and follow a list of “needs”. I rarely “want” anything anymore except more time!

    The next thing I want to tackle is cable TV….would love to hear tips on that if anyone has any!

    • Miss Bonnie MD on February 4, 2019 at 12:19 pm

      Many people have successfully “cut the cord” – I personally do not watch TV but Matt does…I basically ordered the cheapest plan that still included sports for him.

      • Asia on February 17, 2019 at 9:52 am

        I’m new to the idea of posting and such, but thought I’d share some tips as my fellow woman has begged me to do for years.

        By delaying gratification, living on half my income as a resident and simplying investing, I was able to take almost a year off after residency to enjoy the life I sacrificed in my 20s and early 30s for medicine lol. Ask yourself this, do I really need that expensive designer bag or can I get away with the company tote bag to store my things? Do you really need 5 pair of black riding boots? Buy on sale when clearance of course and declutter, give away, price match and coupon. Learn to cook a new meal and limit going out to eat. Exercise at home and save on the gym membership that doctors often forget about or the lack of time to go. I have plenty of tips as I’ve been doing this for decades… ask me anything! As for cable, I love ATT Uverse ( they give me promotions for loyalty and will always credit my bill)

        • Miss Bonnie MD on February 17, 2019 at 2:22 pm

          If you’re on Facebook, would love to have you in my new group!

    • Robyn Hitchcock on February 17, 2019 at 1:18 am

      I got wire antennae and a $10 monthly Netflix subscription and don’t miss cable at all

  4. PracticeBalance on January 29, 2019 at 11:43 pm

    I’ve been cutting my husband’s hair since before we were married! I actually (gasp!) started cutting my own ends last year, too. And we use our Instant Pot almost every day. Great tips, B!

    • Miss Bonnie MD on February 4, 2019 at 12:20 pm

      Ha, not sure I am brave enough to start cutting hair….hmmmm

  5. B.C. Krygowski on January 31, 2019 at 8:42 am

    Thanks PB! Now I want to learn how to cut my own hair! 🙂

  6. Nancy Zutshi on February 16, 2019 at 10:25 pm

    Excellentt suggestions for any one and every one who works hard at earning every dime. My only criticism is that why an assume that every working woman or a man has to have a significant other . There are a lot of happy successful high earning men and women out in this world today who are self sufficient and independant

  7. Angie Irak on February 18, 2019 at 8:49 am

    Great article for traditional families. I agree with Nancy though it focuses on couples and makes a point that man is less distracted in the grocery store and should be doing the shopping. It is not very empowering if you happened to discuss it with your daughter. Same thing with cutting the husband’s hair or son’s hair, but no mention of how a woman herself can save on hair dresser’s cost. I have been using touch-up products for my graying hair roots for some time with semi success. It would be more useful to me if I got tips about that.

    • Anita on February 18, 2019 at 10:01 pm

      Just dye your hair every 4 weeks. save time and money.

    • Padma Sripada on February 19, 2019 at 6:38 pm

      Here’s what works for me–I keep my hair short, and the bangs cover my roots. I use Clairol, measure out 1-2 tablespoon each of the colorant and developer, mix and apply with a brush to the roots every 2-3 weeks. Saves money, but most importantly time! While the color is working I clean up my whole bathroom–something you can’t do stuck in the chair at the hairdresser’s!
      Love Netflix. MSNBC and NPR play on my Google device, so I don’t need cable. Without cable TV I have more time to catch up with my girlfriends and cousins on the phone while clearing out the closet or dusting furniture! I have to say I love the iRobot and Brava Jet to clean the house–worth every penny. And the Air fryer and insta pot are terrific too!

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