BE FRUGAL TO SAVE MONEY THE HEALTHY WAY.

People often confuse being frugal with being cheap which is the total opposite. You can be frugal by spending your money only on the necessary things in your life.

In short, being frugal is about spending your money strictly on your needs, not your wants.

But with that being said, there are times when frugality can be toxic – which is a real bummer when you don’t know how to be frugal in a healthy way because it can be life threatening.

So in this post, we’ll be talking about:

 

1.   What it means to be frugal

2.   How to be frugal in a healthy way.

3.   Frugal Living Tips you can use to save cash.

 

So let’s jump in.

 




What it Means to Be Frugal

 

To be frugal is to be intentional with how you spend your money. 

For instance, instead of buying that cup of coffee, you can save that cash by making your own coffee at the comfort of your home.

And I know the frugal meaning on most dictionaries, limits frugality to food items but that’s not the case. 

Being frugal is a lifestyle. 

You intentionally choose a specific lifestyle in order to spend less whether it’s outdoor activities or habits. 

Being frugal is not limited to food.


HOW TO BE FRUGAL IN A HEALTHY WAY


So you want to be frugal but you don’t want to overdo it. It’s the best approach to make sure you don’t end up stressed out. So here it goes.

 

Figure out what you do need and what you don’t need in order to be frugal

 

Once you understand what you don’t want to do when you’re being frugal, then it will become easier on the things you want to do.

The reason I say so is because we humans have unlimited wants.

If you get a bike today, you’ll probably want a bike stand or a bike bag to hold your coffee.

Your wants never stop.

But once you figure out what you can live without, then it becomes easier to be frugal.

So rather than trying to figure out what you need, deciding what you don’t need will eliminate your wants significantly and help you become frugal in a healthy way.

 

Figure out what your goals are for being frugal

 

At the end of the day, you don’t intend to be frugal forever.

Frugality should not be a way of life.

At times, you’ll want to go to MacDonalds. Other times, you’ll want to visit Maldives or buy that sectional your home really needs to look pretty.

And that doesn’t fall in the frugality category. So that’s why you need a goal.

When you have a goal attached to your frugal way of life, it becomes easier to be frugal.

You have something to look forward to at the end of it all and that makes it worthwhile.

If you are just frugal for the sake of being frugal, you won’t be able to keep it up for a long time.

And ultimately, you might end up becoming a cheap person.

Want to know the difference between a cheap person and a frugal person? Keep reading.

 

Prioritize Your Expenses

 

When you start being frugal, you’ll need to figure out what purchases, activities and habits you’ll have to stop. 

And that can be really hard.

So write down a list of the most important things in your life that you can’t live without.

Keep it to your needs ie food, clothes & shelter.

Then, find activities or habits that can be substituted.

For instance, if you take out your kids to the park every weekend, you can buy swings and kids play area to entertain your kids at home. 

(And that will save you all the money you spend every weekend going to the park)

Finally, cancel out all unnecessary purchases or habits. 

For instance, you don’t need new jewelry. You can live without that new pair of red bottom heels.

 

Be frugal the healthy way. Avoid the toxic way

Give yourself days when you can splurge on yourself


As the old saying goes, “Too much of everything is poisonous.”

When you decide to be frugal, it can get overwhelming especially if you have a habit of spending cash – which is usually the reason people decide to be frugal in the first place.

And because you don’t want to fall back to your old habits, it’s good to give yourself a treat at the end of every week when you’re frugal.

It will keep you motivated to continue on your frugality journey.

 

DOES FRUGAL MEAN CHEAP?

 

While being frugal does mean having to spend less and prioritizing your expenses, it doesn't mean being cheap.

Being cheap involves buying substandard things because they cost less than the rest. When you're being cheap, you go for the cheapest option available.

When you’re being frugal, you buy the things you absolutely need.

For example, if I am being cheap, I’ll buy a fake leather jacket. If I want to be frugal, I’ll not buy a leather jacket if I already own one.

Also, there’s the possibility of being cheap and spending more.

A frugal person simply buys the necessary and saves the rest but when you’re cheap, you don’t consider the amount of money you’re spending (just that the items are cheap)

So being cheap is not to save but rather to acquire more at the cost of less.

 

HOW CAN I BE HAPPY AND FRUGAL?


How to be happy and frugal:

1.   Learning to substitute purchases.

2.   Focusing on the long-term benefits of being frugal rather than the short term discomforts.

3.   Create a Flexible Budget in order to be frugal and happy.

4.   Disassociating happiness with material possessions but rather meaningful connections.

 

 

Learning to Substitute purchases


When you're being frugal, you are not sacrificing your happiness.

You can still eat what you want to eat, do the things that you want to do as long as they don't cost you unnecessary spending.

For instance, instead of buying a burger at MacDonald's, you can make one right at home. It will cost you way less to do it at home than buying.

 

Focusing on the Long-Term Benefits of Being Frugal


The long-term benefits of being frugal will make you happy. Imagine buying that new house or getting that new car that you really want.

Don’t you think that’s happiness? Heck yeah it is.

You’ll be able to achieve your goals when you’re able to save more. And being frugal can assist with that.

Hence why you can be frugal and happy but it’s only possible when you don’t focus on the short-term discomforts.

 

Create a Flexible Budget to be frugal and happy


The one mistake I see people making when they decide to be frugal is that they create a rigid budget.

That can make you unhappy with being frugal.

Remember when you create a budget, it is not fixed. Life happens.

That’s why it’s good to have some wiggle room in your budget like having some spending money or treat days.

That will make you happy and frugal.

The only difference with happy frugality and sad frugality is the availability of spending money in your budget.

Finally, a budget will help you spend less and that will not only help you achieve your goals but it will also help you make great financial decisions.

And financial literacy is one habit that will make you a happy fellow in the future.

 

Disassociating happiness with material possessions but rather meaningful connections


Happiness comes from the actions that you do not from the possessions that you have.

The more that we hoard the more we get attached to material things and that's not the true spirit of happiness.

Happiness is spending time with the people that you love, having meaningful conversations, enjoying your own company, and sharing heartfelt moments with your loved ones.

And you don't need $1,000 or more to get to enjoy such moments.

That is true happiness.

So when you’re being frugal, remember what the spirit of happiness really is so that when things get thick you’re happy even if you don’t have spending money.

For instance, you might have to be forced to practice some of the frugal tips because of lack of money to sustain your current lifestyle.

That shouldn't make you unhappy and frugal because you’ve got friends and family.

 

HOW DO PEOPLE BECOME FRUGAL?

 

The best way people become frugal is by downsizing on all your expenses and ditching anything that is unnecessary, highly expensive to maintain, and avoiding any waste.

Those are the basic rules of becoming frugal. 

Once you've got them mastered, you're well on your way to becoming a frugal person.

 

CAN FRUGALITY HURT THE QUALITY OF MY LIFE?


There's always a balance of life that you should always try to maintain.

My mother always told me too much of everything is bad even love.

And the same goes for being frugal.

You don't want to become overly frugal and neither do you want to be frugal forever.

That's why it's good to explore business ideas that are highly profitable to help you generate money on the side.

So in order to avoid frugality hurting the quality of your life, make sure you don’t overdo it, don’t do it for too long, and find a way to make money so that you can ease up on the budget.

 

CAN BEING FRUGAL MAKE YOU RICH?


Frugality can make you rich if you save the money that you don't spend and invest wisely.

But if you do not invest or make smart money choices, then all that expense tracking and slashing will be all for nothing.

When you start living frugally you need to have an end goal in mind. That’s how you get rich.

For example, building an emergency fund, buying a house, investing in the real estate business and so forth can make you rich.

So if done right, being frugal can make you rich.

 

WHERE DO YOU START WHEN YOU WANT TO LIVE A

FRUGAL LIFE?


Start by tracking all of your expenses.


Keep receipts to all the purchases for that entire month. 

Don't overthink it, just keep a track of your spending habits. 

This will help you in the future when analyze and cut off all unnecessary purchases.


Estimate how much you’ll need to get to your goal & cut down.


Then, break that number into monthly goals and figure out how much you will need to be saving monthly.

You should have a solid figure.

Now, cut down on all unnecessary items first, then spending habits, then your lifestyle, then your day-to-day activities.

 

36 Ways You can Practice to be Frugal


1. USE AN ENERGY SAVING BULB.

2. MEAL PLANNING.

3. EATING AT HOME AND AVOID EATING OUT IN RESTAURANTS OR EVEN CLUBBING.

4. PRACTICE SOCIAL MEETINGS AT HOME INSTEAD OF PUBLIC PLACES.

5. CUT ON HOLIDAY TRIPS.

6. BULK BUYING.

7. BUY ORGANIC PRODUCE IN THE FARMERS MARKET OR...

8. GROW YOUR OWN PRODUCE RIGHT AT HOME OR..

9. BUY ONLY THE PRODUCE THAT IS IN SEASON.

10. SAVE UP ON ENERGY.

11. CUT DOWN ON RENTAL EXPENSE.

12. SHOP USED CLOTHES AND ITEMS/ THRIFT ITEMS.

13. DO YOUR OWN HOME RENOVATIONS.

14. BULK COOKING TO SAVE UP ON GAS.

15. FREE TV AND NO SUBSCRIPTION.

16. PAY YEARLY PLANS RATHER THAN MONTHLY PLANS.

17. SAVE ALL THE COINS INSTEAD OF BUYING CANDY AND UNECCESSARY ITEMS.

18. CUT DOWN ON THAT GYM MEMBERSHIP AND JUST EXERCISE AT HOME.

19. PRACTICE HOMESCHOOLING.

20. HAVE A LEFTOVER DAY AND EAT THE LEFTOVERS TO AVOID ANY WASTAGE.

21. CHECK THE EXPIRY DATES ON ALL THE FOOD YOU BUY AT THE SUPERMARKET.

22. MAKE YOUR OWN HAIR AND DIY PAMPER AND GLAM UP.

23. AUTOMATE THE SAVING SYSTEM AND THEN SPEND LATER.

24. SELL ONE OF THE CARS/ DOWNSIZE ON THE CAR IF THE MAINTENANCE IS HIGH then..

24. BUY A LOW FUEL CONSUMPTION CAR.

25. DRY YOUR CLOTHES ON A HANGING LINE OUTSIDE OR A HANGER INSTEAD OF USING A DRYER.

26. USE THE WEMO INSIGHT SWITCH TO REGULATE POWER CONSUMPTION OF GADGETS IN YOUR HOME.

27. RIDE A BICYCLE TO WORK IF YOU'RE STILL GOING TO WORK.

28. USE A PREPAID CELL SERVICE.

29. LOOK FOR ONLINE BUSINESS IDEAS TO START TO INCREASE INCOME AND DECREASE THE TIME.

30. USE THE IMPROVED ENVELOP SYSTEM.

31. PAY DEBTS IN PHASES.

32. CAPITALIZE ON FLASH SALES.

33. CUT OUT ALL THE SUBSCRIPTIONS THAT DON'T ADD ANY VALUE TO YOU.

34. CUT DOWN ON DRINKING ALCOHOL OR PARTYING.

35. BUY GROCERIES ITEMS THAT CAN MAKE DIFFERENT DISHES.

36. MAKE COFFEE RIGHT AT HOME. STOP WITH THE STARBUCKS COFFEE.  







 


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