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This post is about what does it really mean to be frugal.
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What Does It Actually Mean To Be Frugal
You may have heard of the term “frugal” before. Often times this term is associated with being cheap but that can’t be further from the truth.
According to Merriam Webster’s dictionary, “frugal” is defined as:
1: careful in spending or using supplies. 2 : simple and without unnecessary things a frugal meal. Synonyms include: sparingly, thrifty, economical.
Being frugal or living a frugal lifestyle is not to be wasteful but rather resourceful with money.
In my point of view, frugality is a way to decrease consumption while making economical choices that benefit one’s well being.
Why Is It So Difficult Being Frugal
Don’t get me wrong, I have nothing against frugal individuals. I, myself, try to be as frugal as I can be. It’s not easy saying “no” all the time. It’s hard for me being a strict frugal person all the time. Because I am not a natural born saver… There I said.
If I am honest, I like to spend some money on myself for special occasions like my birthday or my significant other and family. I don’t care much for Christmas presents nowadays because as I have embraced a minimalist lifestyle, I really don’t want to accumulate more things and stuff in our place.
The good thing is, that I really only like to buy things that I value and appreciate and actually put to use. I also like quality over quantity when it comes to just about everything I buy, which can be more expensive.
But nevertheless being frugal means you have to be consistent and it’s hard to be consistent all the time. Since there’s a lot of temptation to buy things in our society and especially if you are not a natural-born-saver, it can be even difficult.
What Are 5 Easy Ways To Be More Frugal Right Now
1. Try To Lower Your Utility & Monthly Bills
Try to get a better plan with your provider. Sometimes letting them know that you’re thinking of switching will result in the provider giving you a better deal as they do not want to lose you as a customer. You would be shocked to see how much you could save year after year, if you chose to call your provider ever so often to see if there was a better deal for you available.
2. Make A Shopping List & Meal Plan
Before becoming more frugal, I used to wander the store and put everything I possibly liked into my cart. I would imagine a meal and then buy all the ingredients. However, most of the time, I wouldn’t even get to cook the meals so a lot went to waste (food and money!). I never knew how to meal plan until I learned it. It gave me a way to be more resourceful with foods, making more than one meal out of ingredients and thus saving a ton more money. Nowadays I rarely leave the house without a shopping list. Oh, and never go grocery shopping on an empty stomach!
Make a shopping list and start meal planning and you will see how much you get to save at the end of each month.
3. Pay With Cash Using Cash Envelopes
One big thing how you can become more frugal is actually paying with cash. It’s hard to hand over a 100 dollar bill to pay for something. You will think twice about your purchases as you visually see the money being spent. Paying with cash has definitely made me more frugal.
4. Practice Minimalism – Live Simply And With Less
If you begin to practice minimalism, you will learn how to live with less. This can literally address any section in your home and life. From the kitchen to bathroom to your closet. If you start practicing minimalism, “frugalism” will eventually become part of it automatically. You won’t spend as much and if, you will spend only money on items that you will truly see yourself loving and using.
5. Look For Other Ways To Save Money In Every Area Of Your Life
Constantly look at everything in your life where you can save money. If you continuously analyze areas where you can do better financially, either quitting a subscription service or buying generic brand items at the store and pay with coupons, you will see how much money will add up. You will live economically – frugally and save more money to advance towards financial happiness.
Are frugal people cheap?
Why Being Frugal Is Sometimes Seen As Being Against Spending Money
Sometimes people who are frugal and don’t want to spend money like most people in our society can be labelled quite quickly.
When you are frugal, you still are OK with spending money but you plan ahead and make the best economical decision for yourself. You appreciate and buy things that are important to you and that have a higher purpose. You buy quality over quantity and you question every purchase critically.
What Are The 10 Benefits of Being Frugal
The benefits of being frugal are enormous and vast and I have only listed 10 here:
- Being frugal gives you the opportunity to save much more money and also live a conscious life bringing only items into your life that make economical sense and have a meaning to you.
- By living a frugal life you are setting yourself up for financial success.
- You are always looking at everything from an economic angle.
- You don’t want to pay full price on items.
- You are able to distinguish between your wants and needs.
- You become Eco-conscious.
- You feel less money stressed.
- You don’t get influenced easily by society of what to buy, wear, the latest trends, gadgets and so on. You make your own buying decisions based on needs and wants.
- You instill frugality into your lifestyle and you pass this mentality on to others in your family.
- You encounter financial surprises with confidence because you always plan ahead.
CONCLUSION: WHAT DOES IT REALLY MEAN TO BE FRUGAL
Being frugal is a lifestyle choice. It does not mean that you are cheap. As a matter of fact, many frugal individuals still like to do purchases but these are usually well thought out and usually qualitative better purchases. Frugal individuals like to plan and make wise economic decisions, and these are characteristics to have for personal finance.
This post is about what does it really mean to be frugal.