Being frugal does not necessarily mean you are rich. Some people are frugal out of necessity – to survive. Others are frugal because that is what they know – upbringing. Others are frugal because they know they can save money and achieve their goals in the end.
Others are frugal because they take it as a challenge to see how much they will have saved over a certain period of time. Irrespective of your goal, this article addresses people who ‘feel’ rich because they live frugally. I talked to several frugal people online, trying to understand what the lifestyle meant for them. Here are some of the best observations.
They Have the Freedom To Do What They Want
One person had saved the equivalent of six month’s salary and was living frugally. According to him, he did not worry about losing his job because he had a ‘cushion’ that would help him maintain his current lifestyle until he found another one. This was a very liberating thought for him. Others said their lifestyle allowed them to spend whatever they wanted at the grocery store without worrying about cash. Another had an emergency fund set aside, giving him abundant peace of mind.
They Have Few Wants
Most frugal people who feel rich say they pick and choose carefully what they think is important to them. They do not waste money on things that do not matter to them. They live a very minimalist lifestyle, free of clutter.
$100 Can Go a Long Way Depending on Where You Purchase
One person offered an illustration: If you had $100 to spend on clothing and walked into a luxurious store brand, the money may not even get you a single item of clothing. The same amount can buy multiple pieces of clothing if you step into a thrift shop. And you still get high-quality products. It is all about quality to frugal people. They do not care much about the brand name as long as they get something quality at a good price.
Being Rich Is Not About the Numerical Value
Many frugal people say you do not need to have much money in your bank to feel rich and happy. Some say they know people who have a lot of money saved in their accounts but are constantly unhappy. Having your financial affairs in order fulfills one, irrespective of the dollar figure your bank reads.
Being Frugal Is a Lifestyle
Most people living this life say they would not change it for anything. They are content. They feel they are getting their money’s worth when making deals. Some take it as a challenge to see how much money they can save. Being frugal does not equate to being cheap. It is all about getting value out of every dollar spent. Frugal people enjoy creating memories more than they enjoy buying stuff for the sake of buying things.
You Never Have to Worry About Money
Frugal people live a stress-free life because they are not worried about money. They know how to control their urge to spend and their impulses. Their lifestyle may not change much when they come into more money. It only helps them to achieve their goals earlier. Frugal people who have saved and invested well end up being rich eventually.
They Prioritize Experiences
Frugal people value creating experiences over anything else. They will gladly spend top dollar to travel and enjoy whatever the world has to offer but can be reluctant to spend a few extra pennies on something they feel they want but do not need.
People Who Grew Up Poor Share The 20 Ultimate “Poor” People Hacks
Life’s thrown us a curveball, and our bank accounts might be staging a rebellion, but fear not! We’ve got something up our sleeves- a treasure trove of tips and tricks that will have you grinning ear to ear as you outsmart the very concept of scarcity. Being broke? It’s not a limitation; it’s a canvas for creativity!
20 Of The Worst Mistakes You Can Make In Your Life
Life is like a roller coaster- it’s filled with exhilarating highs, nerve-wracking lows, and unexpected twists that can leave us hanging upside down. We all make mistakes along the way, right? Because at the end of the day, we are only human!
15 Tips For Frugal Living On A Tight Budget
If you are looking for tips for frugal living on a tight budget, this post is for you.
Being on a tight budget means looking for even the slightest opportunity to save money. It could be saving to clear your loans, for a bigger purchase, or even for early retirement.
12 Frugal Hacks That Make All The Difference
A Reddit user who started the frugal journey with his wife a couple of years ago wanted to know the frugal hacks people had that made all the difference.
According to the OP, shopping grocery sales every week and planning their meals helped cut their bill from $250 to $100 per week. Other users shared their stories about frugal hacks they had that made some difference in their lives. Here are some of the best ones.
14 Frugal Living Tips To Learn From Warren Buffett
Legendary investor Warren Buffett is one of the wealthiest people in the world and, for a time, was the wealthiest. It might surprise you, then, to learn that Buffett is a proponent and practitioner of frugal living and always has been.
This article was produced and syndicated by A Dime Saved.