Living frugally does not necessarily mean living a life of poverty or constantly having to deprive oneself of the finer things in life. 

The deprivation of anything and everything from one’s life is most certainly not what the frugal living lifestyle is all about. In fact, it is quite the opposite, because with frugal living the individual is able to keep expenses low, pay off debts faster, save and invest comfortably, and therefore live a happier and more prosperous life in the end.

The very premise of frugality is to achieve a lifestyle of low spending and high saving while still being able to enjoy a fairly pleasant lifestyle that is neither deprivative nor overly lavish.

The following are a few tips to know in order to achieve frugality:

Bigger is…worse?

Learning to be comfortable with smaller size elements that work well and are equally compatible with the individual’s lifestyle is a step that must be taken in order to achieve peak frugality. 

From houses to cars to holidays to spending allowances and so much more, today’s society has glorified that bigger is always better. But, is it really? Although it may seem nice to have everything in large sizes, with a little bit of knowledge and research anyone can find smaller yet equally suitable elements to replace those of a larger size.

Going big is not only a wasteful opulence but can also lead to huge debts, which is a step in the opposite direction you want to be going in!

For some, leasing or renting may present a more financially attractive package than owning. 

This is because when there are ownership issues involved, some unexpected hidden costs also pop up. These hidden costs can rack up to quite a hefty number, so renting may be a better option after all.

With the savings (or, moreover, the money not spent) for all these hidden expenses and costs that come from ownership, the individual now has a wider range of opportunities available to them that may bring about an even better financial standing.

Food

When it comes to food and eating out, most individuals don’t really realize just how much can be saved by only tweaking a few minor things. Eating frugally yet healthily is one way to keep expenses in check. Taking the trouble to fix meals at home is more cost effective than going out to eat all the time. 

Some individuals go so far as to prep their entire week’s worth of food in a matter of hours in a process known as meal-prepping. This may be a viable option for one looking for a quicker way to eat healthily. 

Whatever options you choose and decisions you make in increasing your frugality, it helps to keep track of your everyday expenses. Many people aren’t able to recall how much they spend on food monthly.

With the help of some budgeting, coaching and conscious decision making, the road to frugality is not as much of a difficult one as it may seem.

Frugality savings