There is plenty of advice on how to live frugally. It can range from as simple as how to make your own bread to how to make electricity or even how to collect rain water. There are many online forums where people discuss how to make your own electricity for home use and how to sell the remainder.

Frugality really depends on your own lifestyle. The way I see it, being frugal is thinking before you purchase anything. Turning down the heat to save on utilities or turning of lights when you are not in the room is a good way to start. Shopping when items that you want are on sale is another way to be frugal. Also, asking yourself if you really need an item before purchasing it is also being frugal.

However, being frugal is not about reusing foil wrap or plastic baggies nor is it about collecting rainwater or making your own
electricity. It is not even about a pair of slack that you did not buy. It is simply about thinking before you spend money. It is also about conservation and it is about managing your finances so that you save money.

Finances vary from household to household because every family has different earnings and different goals.  It may not look frugal to you if another family has a large expensive van.  However, that family might need a large van because they might have a
child who is disabled and they need to accommodate a wheelchair. You might buy your groceries in bulk to save money and splurge in other ways.

Every household has to look at how they spend their money and make a decision as to where they want to cut costs to become more frugal because being frugal does not mean going without things that you want.

Frugal shoppers are very careful about how they spend their money and they make the most of the money that they earn.  In fact, frugal shoppers have everything that they want without the financial hurt because they spend the time making wise financial decisions by making their money work for them rather against them. In essence, they spend less but have more.

Frugality is all about spending less money for the things that you need and living within your means and investing the savings to make more money. It is also about making goals and adhering to them. Which type of person are you?  Are you the type of
person who spends your money before you make it or are you the type of person who knows beforehand how and where you will spend your money?

In order to be frugal, you really have to take a close look at your finances to see how you are spending your income.  For the most part, it is not how much money you make but it is actually how you spend the money that you earn that is the most important thing. If you are spending more than you earn, you have a serious situation on your hand. You simply have to spend less than you earn because if you don’t you will run into serious financial problems. This is what frugality is about because it easier to spend less money than you earn than it is to earn more money. Would you rather spend less or have to deal with multiple credit card payments or loan payments every month.

Look for methods that will work for you and your family and live the frugal lifestyle.  You will be glad you did.

 

Filed under: How to Live Frugally

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