12 Mindset Principals of People Who Excel at Saving Money

Have you ever wondered what is in the mindset of people who are very good at saving money? And we are not talking about cheapskates. We are talking about frugal people who have mastered the concept of saving money. What drives them? Is it discipline?

Do they focus on a set goal? I aimed to find out what motivates people who are great savers. My research online yielded some expected and other interesting ideas that offered a glimpse into the mindset of people who are great at saving money.

The ‘Hour for X’ Factor

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Instead of asking yourself how much money you are spending on a particular product, ask yourself how many hours of your wage you spend. For instance, if you are paid $30 and find a product costing $90, ask yourself if it is worth three hours of your time. 

Pay Yourself First Approach

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Whenever your check comes in, pay yourself first. Have everything divided into percentages. Use the money to accumulate cash and cash-flow-generating assets. 

Resist the Urge To Spend Whenever You Get Money

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Understand that saving and investment will have long-term stability and happiness compared to liabilities bought for the sake of it. Savers love the long-term benefits of saving more than they love a new car or new gadgets.

Window-shop Before Buying

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Go online, look for all the things you love, add them to a cart, and then log off without buying anything. You will have fulfilled the notion that you may be missing out if it is something you really need, you can come back later and make a purchase.

Companies Do Not Care About Your Well-being

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Companies spend money on marketing to ensure you buy the things they promote. They are promoting a culture of consumerism. You have to resist being pulled into this culture if you want to save money and thrive.

Delayed Gratification

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Write down something you wish to buy and take several days without making the purchase. If it is something you really need after those days have passed, make a purchase then. Most people find that the urge has already passed.

Have an Anti-consumption Mindset

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Some people hate spending money with a passion. They try to get rid of everyone and everything that pushes them to spend. They view ads as untrustworthy and manipulative.

Have Financial Integrity

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Live below your means. Pay bills on time. Avoid debts. Save for the things you need. Have an emergency fund. Have a sinking fund for things you anticipate will crop up soon.

Joy of Seeing Money Grow

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Other people love to see the figure of the money they have going up. This makes them feel less guilty when they decide to reward themselves with a vacation or spoil themselves now and then.


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Sometimes, living with less is better and can help you accumulate money as you do not need to buy things you do not have a purpose for.

Use Things Until They Are Non-functional

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Buy quality products and get the maximum value out of them. Use these products until they are no longer functional. 

Avoid Fancy Things

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Some people do not like the fancy lifestyle. They would rather save their money and live a simple lifestyle. For instance, they would rather camp on free state/forest lands than go to hotels, buy cars in cash, and buy everything they can second-hand to save some money.

12 Frugal Hacks That Make All The Difference

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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.

12 Frugal Hacks That Make All The Difference 

12 Items Frugal People Proudly Exclude From Their Shopping List

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Frugal people are known to spend their money wisely. They live within their means and don’t spend a lot of money. According to a thread on Quora, here are some common things frugal people never buy.

12 Items Frugal People Proudly Exclude from Their Shopping List

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

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Have you ever wanted to make a lot of money from a side hustle and quit your 9 to 5? You may know about the typical side hustles, but I bet you never even heard of these lucrative side hustles!

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

9 So-Called “Frugal” Habits That Are Actually a Waste of Time and Money

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Not everything is frugal! I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!

9 So-Called “Frugal” Habits That Are Actually a Waste of Time and Money

10 Stupid Scams People Won’t Stop Falling For

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It seems like every day there is a new scam popping up, promising to make you rich or solve all of your problems. Yet, despite the prevalence of scams and the numerous warnings about them, people still fall for them.

10 Stupid Scams People Won’t Stop Falling For


This article was produced and syndicated by A Dime Saved.