MISCONCEPTIONS ABOUT FRUGALITY

MISCONCEPTIONS ABOUT FRUGAL LIVING

When I refer to myself as being a frugal person, I see it as a positive, I think that it means I am doing smart things with my money and time. It is a choice that I made because when I began learning about frugality I loved all of the ideas and things that went along with frugal living. This is not something that I do out of necessity, but something that I do because I want to. It’s something that I am proud of and work to improve on all of the time. I do think that to some extent frugal living is for everyone. Some people may not want to take it as far as others, but I’m not sure why anyone would not want to be more in control of their resources. I think the reason why more people don’t understand frugal living is that there are misconceptions that cause people to think frugality is much different than it actually is. So, they turn away from it before ever really learning more. Today, I am going to talk about some of those misconceptions.

FRUGAL LIVING IS ONLY FOR THOSE STRUGGLING FINANCIALLY

Frugal living can be a great benefit for those who are trying to get out of a difficult financial situation. However, it is not only for those who are struggling financially. Many people with all different financial situations from very low income to very wealthy practice frugality. Wealthy people more often than not did not stay that way from not paying attention to their money. While people at different income levels may have different ideas on what might be a reasonable budget for certain things, frugality is not about how much you are spending. Frugality is about making sure you are spending your money on the things that matter to you and living below your means so that you can save for the future.

FRUGALITY IS ALL ABOUT SACRIFICE

Pretty much anything that is worth the effort and the outcome you will get is going to require some type of sacrifice. No matter how much income or wealth you may have there is pretty much going to be another level of income or wealth above you. Based on our assets and income we all have to decide what way we will use those resources. I never feel like I am making a sacrifice by choosing to spend my money on one thing versus another. Nobody has unlimited resources, so there are always choices to be made. So, yes there is some level of sacrifice because we have to choose some things over others. We can’t have everything.  Nobody can. But, when we choose frugality we can usually have more of what we want out of life because we make sure that we can use our money in the best ways possible. I don’t really see that as living a life of sacrifice.

FRUGAL PEOPLE ARE CHEAP

This one really drives me crazy! So often when I talk about budgeting or anything related to saving money people assume that I am cheap. It’s like as if unless you were cheap you wouldn’t be bothering with budgeting and managing your money. People that are cheap sacrifice quality in order to get the lowest price. People that are frugal often spend more on a quality item because they know it will last. Or they may buy good quality items at a lower cost by getting them secondhand. However, that is called getting good value for your money, it is not being cheap.

FRUGALITY TAKES TOO MUCH TIME

If you are not already living a frugal lifestyle, there will be some time involved in setting up a budget and paying more attention to where your money goes. You will probably take some more time to think about how you might do things differently. Most people who learn how to manage their money develop habits that just become natural to them. It is not as if you are spending hours every day figuring out what to do with your money. Everything takes time.  The amount of time you invest into living a frugal life only allows you to live an even better life because you focus on the things that matter most to you.

FRUGAL LIVING IS NOT FUN

I honestly feel like discovering frugality has made my life more fun and enjoyable. It allows me to really think about what I value most and how I want to spend my time and money. Being frugal does not mean sitting at home and saving every penny. Living a frugal life allows you to use your money wisely which usually allows you to find more ways to have some money for the things you really enjoy. It also allows you to be creative and find ways to save money while still having a great time. Frugality allows us to see that fun does not have to come from spending lots of money. There are many simple things that we can do to have a great time.

Thanks so much for checking in! If you would like to hear the podcast version of this topic check out Lola’s Frugal Life Podcast! Also, be sure to check out my other blog posts on this site!

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