So you want to save more money, eh? Well, that’s the goal of Earn More and Save – here, we’re all about sharing inventive ways to save more money. When you save more, you can invest more, which will ultimately increase your net worth over the long haul.
Today’s topic of choice is “frugal living.” Perhaps you’ve heard of it, maybe you haven’t. In either case, learning more about the movement can help you trim the fat from your lifestyle and sock away more of your income to grow your family’s nest egg.
Understanding Frugal Living
Anyone can say that saving more dough is important, but actually living that assertion is an entirely different story. It’s tough as heck to carry out a lifestyle of savings when the world costs so much to live in. To top things off, there’s the added pressure of “keeping up with the Joneses” to deal with, too.
A frugal lifestyle demands a fundamental change in the way you live out every single day. It also requires a shift in your cognitive awareness – you must begin to consciously and actively track the way you spend and save your money.
According to Reddit’s Frugal subreddit, “Frugality is the mental approach we each take when considering our resource allocations. It includes time, money, convenience, and many other factors.”
Frugal living is more than a mindset or new budgeting technique – it’s a movement. One borne as a reaction to the economic crisis that’s plagued the U.S. for years now. The movement has caused frugality to become fashionable, which is why countless websites, local groups, and resources have emerged to help newbie frugal liver
WiseBread posted an excellent write-up about transitioning to a frugal lifestyle. In it, the author recommends avoiding a couple of rookie errors when making the switch. First, don’t spend money to prepare for becoming frus find their way.
It’s bigger than cutting coupons, skipping lattes, and carpooling. Frugal living is a frame of mind. When done right, it will begin to touch every aspect of your life and create a wealthier you – for life.
How You Can Start Living Frugally
gal. This may sound counter-intuitive, but you’d be surprised – many people feel the need to load up on necessary items such as books, expensive goodies from the health food store or affordable supplements from sites as tophealthjournal online, and good coffee (to brew at home, of course) before they get started on the road to “frugality.”
Instead, start your frugal journey by deepening the money-saving techniques you’ve already worked into your lifestyle. Think brown bagging your lunch, finding free venues for date night, or mix-and-matching your existing wardrobe pieces instead of springing for new clothes each season.
WiseBread’s piece also suggested moving slowly into the lifestyle. If you make dramatic changes overnight, you’re essentially dooming yourself to failure. It’s better to ease into frugality small change by small change, until you’ve made each one a habit. Frugality is all about finding a balance, a groove – and moving your priorities to the forefront of your mind instead of focusing on what you can buy.