14 People Share How They Changed Their Lives Forever With Their Frugal Savings

One Reddit user wanted to know what people did with the money they saved being frugal. The OP says that they adopted a frugal lifestyle to accomplish their goals. They were able to pay her 5 figure student loans and put a 20% down payment on their house. They were also able to travel internationally twice a year and have a 1-year emergency savings.

They also have some money invested. The OP says they do not live or spend as their peers do, but knowing they are financially secure makes them feel better. The OP wanted to know what other frugal people did with the money they saved being frugal. 

Other Reddit users chipped into this conversation to highlight how they spent the money they saved being frugal. Here are some of the best responses.

Allows Me To Be Generous

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Frugality allows one member to extend generosity to others, “It lets me be more generous and loving with the people in my life! I’m not stressed about putting dinner with friends on my card in case someone doesn’t pay me back straight away, I can get nice gifts for people, and I’m able to act as a support system for people I love when they’re having a tough time.”


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One user is frugal because they have to survive, “Survive, pay my bills, rent and medical debt.”

Another agrees with this, “This is the most realistic answer for most of us, I think. It’s not only frugality by choice, but out of necessity.”

Saving for Retirement

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One user wants to have an easy time when they retire, “I save it for retirement,” he adds, “Has (being frugal) allowed me to pile up a large sum in my retirement accounts and likely I can choose to retire once I hit around 60 years old.”


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Some are frugal because they want their money to grow, “Right now, a high yield savings account or CD is actually a good place to put some of it,” one user says, “No debt, and independently wealthy. That’s my goal with my savings.”

It Is a Necessity

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One user cannot help being frugal, “Being frugal is a necessity with my family. I’ve been underemployed or unemployed for around 3 years. My husband makes a slave wage. My son contributes. It’s just not enough. So I use whatever skills I have to organize our finances so we can pay rent and eat and pay utilities and take care of our cats. There is nothing left.”

Allowed Financial Independence

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Being frugal allowed one family to set itself on a financial independence path, “Allowed us to pay off our home many years early. Allows us to have an emergency fund available in case a major expense hits unexpectedly (new transmission, furnace repair, dental expense, etc…).”

They Bought a Home

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A user is proud to have bought a home after being frugal, “So far, we’ve bought our home (a cheaper older condo, and we re-did the kitchen, bathrooms coming next year) and go on two vacations a year. We’re not flashy, but I always quietly fill up with pride when my flashier friends who are renting complain about housing prices and rising rent.”

They Can Face Layoff Confidently

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The money this user has saved gives him the confidence he won’t have to worry in case of a layoff, “We also have a chubby emergency fund which allowed me to face a layoff with a positive attitude. It actually takes me aback when people react with pity like we’re suddenly in deep. With no debt at all and a cheap-ish lifestyle, I’ll get a new job slowly at my pace rather than rush to the next offer because I’ve got loans to pay. Feels great!”

To Buy Books for Charity

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One user is obsessed with buying books for charity, and being frugal has enabled them to do so, “I’m Mrs. Claus, so I use all the money I save to buy books and toys for the children Santa and I visit at preschools during the holidays. We hit all the garage sales and yard sales we can during the summer to stock up on newish books and toys. Every classroom teacher gets a free book, and every child gets a toy. We’ve also spent a fair bit on our costumes.”

Lose It in the Stock Market

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One user highlights how he lost all his frugal savings in the stock market, “Goddammit. I sat on the sidelines as stocks went up and up and up during covid, knowing it would crash. Eventually said, guess not!, so I put in my money and it crashed… lost like 25k almost instantly. Good news is I expect this to be a 30 yr investment, but it still stings a bit.”

Help Support My Extended Family

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“We are supporting my sister-in-law and niece while she finishes her degree (putting our money where our mouths were to help her escape an abusive marriage). And my brother-in-law while he figures out adulting. He finally got a full-time job that actually meets CoL pay and benefits and is able to save. Right now, he is on track to be getting his own place next spring. SiL will be graduating come December, and she has already networked with the local hospitals and pretty much has a job locked in,” illustrates one user

Enjoying Live Performances

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One user lives for concerts, “Concerts. Music is very personal to me, and going VIP to meet my favorite artists/seeing them live is just.”

Giving to the Food Bank

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Another loves giving back to society, “Since I have more than enough money to live the rest of my life, I give generously to the food bank and started working there a couple of weeks ago. I also send money to people running for political office. I sent Lucas Kunce money last week; he’s running to unseat Josh Hawley. Next week I am sending money to Colin Alred, who is trying to unseat Ted Cruz.”


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Another is saving everything they can so that they can have surgery, “I need surgery. So, all the money I save is going straight into the savings pot for that. I’m hoping I’ll have it mostly scraped together by the end of this year!”

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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.

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

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10 Stupid Scams People Won’t Stop Falling For

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20 Hilariously Outdated Pieces of Boomer Advice That Leave Millennials in Stitches

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This article was produced and syndicated by A Dime Saved.