Frugal: The Benefits Of Mind Over Money
“You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.”
― Dave Ramsey
How can being frugal change your life? What are the benefits? Is it really, as some presume, a lifestyle of denial and boringness? This article will describe the benefits a lifestyle of frugality can bring. You may be pleasantly surprised. You might be one of those who think that is a good choice for others but not for you. But maybe you might want to look at the benefits first. It IS a lifestyle, not just something you do to save money, although that is a plus. Before launching into the benefits, it is good to know what the foundation of frugalism is.
Being frugal first and foremost involves:
These points need to be considered first. While we absolutely need to spend money on things like food, clothing, transportation, housing, heating, there are also many ways we can save. There are also things we spend money on that have, perhaps, become more of a habit or perceived need rather than an actual need. By looking long term at our goals – where we want to be and what we want to be able to do in the future (and with whom) – all of these points are essential to consider when beginning the frugal journey..
So, without further ado, here are some awesome benefits of living a frugal lifestyle:
Adopting a frugal mindset and way of living also means finding new ways to live without consuming excessively. Frugal thinking is all about finding alternatives that are cheaper and less wasteful. We may have to learn a lot of new repair skills and breakthrough conventional ways of doing things. It may mean becoming a Fixit expert rather than depending on experts to fix things. It can also mean finding or inventing new uses for items we already have rather than buying new ones. Frugal thinking also means changing our mindset about our concept of the market place.
More Financial Options
Since frugal living involves being more mindful of money, earning it, saving it, and investing it. Frugality practitioners tend to be very strategic about managing the resources they have. Careful and mindful planning means that they are prepared for financial dry seasons or crisis. They have more freedom to weather these seasons, take risks, change jobs or even start new businesses. A frugal lifestyle allows you to live a purposeful life while not being deprived of anything. It can open up more options to travel or engage in new hobbies. A frugal way of living puts the practitioner in the driver’s seat of the finances rather than letting money (or lack of it) control them.
Peace of Mind and Simplicity
Frugal lifestyle practitioners opt for a less stressful way of living by consciously opting out of a consumer-driven lifestyle. They do not feel the need to “keep up with the Jones” or anyone else. They do not feel the need to have their children on the best sports teams or in the best schools (it’s all about money and appearances really). Typically they try to not live for others (what they see or think), but prefer to optimize their lives by living a simple meaningful existence. They prefer the slower and less expensive route of benefitting from free or inexpensive experiences that prioritize connection overconsumption.
Fewer Consumer Choices To Make
Shopping can be a very exhausting endeavor whatever we are trying to buy. there are so many options and places to shop. It can be exhausting and extremely time- consuming to research the information to help us make the best choices. Even physical shopping at a mall is tiresome. Not only is it often hard to find what you want at the right price, but it can take a lot of time to do so. The whole process can be dizzying and draining. The choices are endless. Frugal people opt-out. Because they are aware of what they want in their life, and what their priorities are, it is easier for them to avoid consumer rollercoaster. They make choices based on their priorities and not based on what is sold in the marketplace.
“If you will live like no on else, later you can live like no one else” – Dave Ramsey
More Time for Things That Matter
Frugality practitioners typically function on a needs basis and will buy only when it is absolutely necessary. This frees them up to focus on more productive endeavors. They are not only frugal with money, but also with their time which they value highly. A frugal lifestyle is centered on the people and experiences that matter as defined by each person. Living according to the world and the consumer culture can take huge chunks out of our precious time (which we spend working in order to pay for the consumer products) and of course, ou bank accounts. By living frugally, we can have more time to spend with those we love and doing the things we live to do.
Frees Up Ressources To Give
Because frugal people are wise with both their time and their money, they save both. Doing so also means that they free up these resources to give out to others in terms of aiding financially or volunteering their time. This freeing up of resources lines up with the mindset of living a more meaningful life by focusing on people and experiences rather than the accumulation of things and the subsequent or complimentary loss of time and money. Essentially this lifestyle choice frees people up to be who they are meant to be and do what they were meant to do – help and give back.
A sought after benefit of living frugally is the option to retire from your job early (if you want to). Being wise and mindful of money and resources sets people free from the debt payment cycle that forces people to remain in the workforce long after they would rather not be there. Because this way of living does not follow the “buy now, pay for the rest of your life” philosophy, but rather, chooses the “live below your means and buy only what’s necessary”, philosophy. It allows people to accumulate financial resources to be able to stop working without worrying about financial loss.
Good For the Environment
A frugal lifestyle is also very environmentally friendly. Since there is very little adherence to corporate consumption and waste, frugal practitioners tend to impact the environment in a more helpful way. Consumer consumption wastes resources: food waste (packaging and throwing out food), energy resource waste and product waste. They tend to use and reuse what they have and find new uses for items on hand. they tend to fix, build things on their own and cook their own food as well as make their own cleaning products. So frugal living is good for the environment.
Gives A Healthy Perspective of Needs
Finally, a frugal living puts life and living into perspective – a global perspective. Typically frugal people tend to be mindful of the impact their choices have on themselves, their family, but also on the world around them. This lifestyle choice helps us to reflect on what we truly need to live a well-balanced and meaningful life. It helps us reflect on the wastefulness of consumer culture and the impact of such consumerism around the world. It also brings us more in tune with the need to make conscientious and non-wasteful choices. Frugal living helps us to understand the difference between wants and needs and strengthens our revolve to not cater to our own wants.
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Diana Lynne’s passions are family, traveling, learning, and pursuing a debt-free life. She also loves hanging out with family, friends and being with her dog Skye. Diana is a Quebec City girl. who loves living life. You can connect with her through Livingandstuff.ca
- February 24, 2020