WHY CHOOSE FRUGAL LIVING?
You can hear the audio version of this discussion on my podcast at Lola’s Frugal Life Podcast, on Apple Podcast, and many other platforms!
WHAT IS FRUGAL LIVING?
Living a frugal life generally means being very intentional with your spending. I say being intentional with your time too! But, it’s mainly about managing your money in a way that allows you to choose to spend where it matters and not spend your money where it doesn’t matter. Frugal living doesn’t mean you must live without and buy cheap, low-quality products. In fact, those of us that have really embraced the benefits of frugal living usually recognize the benefit of buying high-quality products that last. Most truly frugal people have no interest in buying cheap products that have to be replaced frequently. However, there will still be those that think you are cheap when you say you are frugal! Frugal living is about getting the most out of the money you have available to you and it has so many benefits outside of finances alone.
THE BENEFITS OF FRUGAL LIVING
One of the most rewarding benefits that I have found in frugal living is generally living a more simple life. This does not mean that I don’t work hard or have goals that I am focusing on. But, by being mindful of how I spend my time and money I can cut out many things that might otherwise take up my time and financial resources. Another amazing benefit of living frugally is that you will feel less stressed about money. That does not mean you will never feel stressed about money. If you can figure out how to make that happen, I would love to hear it. But, when you live frugally, you are in control of your money and how you spend it.
There is much less stress around money when you know what you have coming in and where it goes. There is a much different feeling in spending money that you have allotted for a certain expense, then just spending money and hoping you have enough later on. Due to the nature of paying closer attention to where your money goes, you will very likely meet your financial goals quicker when living a frugal lifestyle. Those goals might be paying off debt, building an emergency fund, saving for retirement, saving for a vacation, or any number of other things!
FRUGAL LIVING DOES NOT REQUIRE DEPRIVATION
Living frugally can help you greatly in improving your financial situation. By being more thoughtful about where your money goes you will end up with more money for saving, investment, and staying out of debt. While some might see living a frugal life as depriving yourself, I completely disagree. In fact, I have never been happier since I discovered the benefits of frugality. Frugality allows you to get the most out of the things you have and spend less on things you need. You can live a frugal life and still have the things that make you happy. When you live frugally you will find cost-effective ways to prioritize the things that you enjoy most in life.
DON’T BE DISCOURAGED BY OTHERS
Living frugally can sometimes feel difficult when people around you don’t share your values. It’s important to keep yourself encouraged regardless of what some people might think about your choices. Remind yourself why you want to live frugally and what you will get out of the choices you are making. Set specific goals for your frugal lifestyle and track your progress. Celebrating your wins can help you see what you have already accomplished. Surround yourself with people who share your values and goals. Not everyone is going to think that frugal living is the way to go, but having some people that feel the way you do will help you stick with your intentions. Remind yourself that living frugally is a choice that you’ve made to make your life better, not the other way around!
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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