FRUGAL LIFE 101.

What is frugal living?

Frugal living is a lifestyle change whereby a person endeavors to spend less on the unnecessary in order to save for future goals.

For the most part of my life that I have been living a frugal life, I have been called a lot names like miser, cheapskate, selfish etc. but then I have to ask myself if it’s about them or about me, my future goals and those of my children?

Looking around me I have often wondered what those things that I can live without are. Many of them I came to the conclusion that if I did not need them then, they were unnecessary. I felt that if got rid of them and only spent on my basic needs then could have more in terms of savings, investments.

Sometimes it makes me cringe to hear people say that they have to or more jobs yet they hardly enough to go by let alone to save. Why work that hard and have nothing in your pockets or even in your savings account. It’s crazy if you ask me.

We, especially us ladies,-don’t get me wrong-are always spending money on this and that and by mid-month we are asking for loans and salary advances. It’s a vicious cycle to tell you the truth and you will only realize it when it’s too late.

Frugal living is ways in which you can make your savings grow by simply living without the unnecessary. Like all other life style changes, the frugal life is not everyone I know, but most people trying to grow a business have been frugal without knowing that they were frugal. They moved to a smaller house, got a low maintenance car, ate less, walked to work and to meetings, spent less on grooming etc. until a time when their goals were achieved.

By eliminating those things that you do not need helps to grow your savings not only for emergencies and goals but also for holidays and for difficult times. For example, you could lose your job at any time so would need something to fall back on in the meantime as you search for a new job, start a new business or you could go back to college/university to try a new different course and hit the job market again.

Frugal living is never easy. Temptations are everywhere at every turn and you will most likely lose friends since you won’t like to be called a miser would you? Absolutely not! But……as your savings begin to grow you begin to feel better about yourself as your goals begin to materialize.

To be honest the frugal life is addictive I have never been more independent financially without having to ask for loans and advances.