(Updated May 2021)
Are you looking to be more frugal? Frugality often means different things to different people. I like to think of being more Frugal as living within your means and buying quality items that will last! Sure, I love saving money, but NOT at the cost of being or buying things that are cheap.
I also believe in being intentional with your money and planning ahead to avoid spending more. These beliefs have helped my husband and I pay off our care and house and we are now completely debt-free. We have also been able to save for our retirement, our children’s college funds, and invest money (hello compound interest) all while taking at least three vacations per year (what we love to do).
Frugal living is definitely worth it and is a means to the end of your financial woes.
There’s a song I listen to with my sons on the Disney Channel that goes, “built to last, built to last. That way things don’t go too fast.” This song, of course, refers to the three little pig’s houses. The straw house, the stick house, and the strongest house that withstood the test of the big bad wolf, which was “built to last.”
You often hear people say, “They don’t make things like they used to.” I often wonder why? Why did after one year, my stainless steel refrigerators rust? Or my two-week-old shirt gets a hole in it after washing?
Are these items frugal or cheap? I would go with cheap!
Frugal means buying items, even if they cost a little more, that will stand the test of time.
Why Live Frugally?
If you want to get ahead financially, living frugally is key.
Many people do not know this but many millionaires live a frugal lifestyle. If you hope to become debt-free one day and perhaps financially independent, then living frugally can help you get there and it is not as hard or boring as it sounds. I look at it as a challenge!
Some people may roll their eyes at frugality. But I always try to remember frugality is not a life sentence. Once you have a budget in place, pay off your debt, build an emergency fund, and save for retirement then it is okay to splurge on yourself once in a while as long as you continue to live within your means.
In fact, if you want to be more frugal, you can do things such as price comparison and research items before you buy. In this way, you will be buying quality over cheap products that do not last.
