What is Frugal Living?
Frugal living is a lifestyle that involves careful planning and spending as well as avoiding waste. Some people may choose frugal living out of desire and some may incorporate such a lifestyle out of necessity. It’s not about being cheap; it’s really about being practical and making the most of available resources through various methods of saving money, reusing existing items instead of buying new ones, and finding bargains and good deals. The premise is that a person shouldn’t pay more for something if he or she doesn’t have to. People who incorporate the concepts of frugal living into their daily lives generally adopt a strict budget and try very hard to stick to it. They tend to purchase the most inexpensive products if those products are a good value. Many frugal living families also take advantage of sales and use coupons. They recycle, revamp, trade and find other innovative ways to get as much as possible out of what they have and what they earn. Frugal living and simple living
In its simplest form, frugal living represents a commitment to resourcefulness and thoughtful spending. Advocates of a frugal lifestyle believe that it is important to make wise financial decisions. They’re not necessarily afraid to spend money, but they insist on carefully evaluating their options before making a purchase.
Have you been thinking about trying the frugal lifestyle? Are you wondering how one goes about living frugally? You are probably not alone. Many people these days are making a commitment to frugality. However, if you think that frugal living means dooming yourself to a life of deprivation, think again. Frugal living is not just saving a few pennies here and there when you happen to remember. And, frugal living is not about sacrifice and deprivation; it’s about making smarter financial decisions. So what is a frugal lifestyle? • Frugal living involves smarter money management. Make a budget. Know how much you have in the bank, how much income you can count on and how much money you need to cover your monthly bills. When you have a budget in place, you’ll know just what you can afford, and more importantly, what you can’t afford. Know where you stand with debt repayments, savings goals, and investments—take charge of your money and make it work for you. Don’t spend more than you make, bo
