Being frugal doesn't mean you only buy and eat the cheapest food possible, or try to penny pinch on everything you can.

The rising prices of daily necessities, including food, water, gas and electricity, are also making grads pinch every penny to make ends meet.

Also, if you really want to penny-pinch, and you don't need to be using premium fuel in your car, ditch the premium gas and use the cheaper stuff.