Living a frugal life is more popular now than it was ten years ago. Some say frugal, some say cheapskate, but it is true that more people need to think about living this way. Living frugal means to buy the things you need with spending less money. Why should that way of life be looked down upon, when the frugal people are laughing all the way to the bank and the spenders are drowning in debt.
If you are keeping an eye on the state of the economy then you must know that frugal living is the way of the future and soon, it may be the only way to survive.
The Advantages of Frugal Living
There are many advantages to frugal living. The main one being if you learn to spend less money then you can work less because you don’t need the money. Some may say that having more free time but less money isn’t an advantage because you don’t have the money to spend on days out, but if you are truly frugal, then you would have saved any disposable income for the days when you can work less. Similar to any early micro retirement.
If you are thinking of making the decision to switch to a frugal life, then here are a few tips to get you started:
- Take a packed lunch to work and don’t pay over priced cafe prices.
- If you do need to eat out then make sure you have a look at voucher or coupon websites and pick your restaurant depending on if you can get money off the bill or not.
- Minimalism is the future – Have a minimalist wardrobe and decorate your home true to the minimalist style. Buy one type of every piece of clothing, ie one pair of jeans, shoes, tops, jackets and pick clothing that matches with everything. If there is only you in your home, there is no need for a massive couch, buy a 3 seater for comfort and get it second hand.
- Entertainment – There is free entertainment everywhere really. Go to museums, go to 2 for 1 days at the cinema. You don’t need cable, you can watch TV on the internet now.
- Free Haircuts – Women spend thousands of dollars on haircuts every week, but id you go to a training scheme or school, then you can get your hair done for free. Yes they are trainees and may go wrong, but they are under strict supervision.
- Commuting – Ride your bike to work or commute with monthly passes, or carpool with a colleague.
- Exercise – Exercising is a sore point because everyone thinks you have to pay a gym subscription to exercise, but you can street run. You can buy cheap weights from a store or you can buy a DVD program and do that once a week. Yes, you will have to pay for the DVD but it is a lot less than a gym membership.
- Thrift/Second Hand Shops – Never buy new, simple. Thrift shops will have clothing that may be a little damaged, pay pennies for the items and then mend them.
Living frugal is a very good way of life. It helps you save money and you stay out of expensive debt. People look down on those who live frugally because they have a reputation of being cheap, but you can laugh all the way to the bank with stress free living.