Learning to be frugal is one of the best skills you can teach yourself. Here are a few tips on how you can cultivate a money saving mindset.
There are numerous pieces literature and online resources you can find in order to educate yourself on frugality. Look for books about how important it is to live within your means. Find reading material that better explains how decluttering and simplifying your life can lead to less spending, greater happiness and satisfaction. There are so many knowledgeable authors who have written books that give incredible advice. If frugal living is something you’re interested in learning more about, find the literature that can teach you.
Leave Stereotypes Behind
Being frugal isn’t always met with positivity. An article written by Michelle Schroeder-Gardner explains, “The word “frugal” has many negative associations. People think that if you are frugal, then you are cheap, boring, and even a bad person.” Logically we know that none of these things are true, but these negative connotations have certainly tainted the word ‘frugal’.
There is also an assumption that frugality comes from a place of desperation. It’s hard for some people to believe that you would be frugal without cause. The above mentioned article goes on to say, “Being frugal isn’t always what happens when you are out of options. Sure, there are times when people must buckle down and spend less than they usually do, like if you are living paycheck to paycheck. However, living a frugal life can go beyond cutting things from your budget. It can be something that isn’t just a short-term solution– it’s one that you can benefit from for the long-term.”
Declutter and Downsize
Frugal people aren’t weighed down by unnecessary possessions and clutter. If you have too much or don’t appreciate the things you have, it’s hard to live a happy life. Downsize your possessions by getting rid of things you don’t need or use. Continue to declutter your life until you feel less stressed. You’ll also find yourself appreciating what you have so much more.
A big part of being frugal is constantly making adjustments. You’ll need to do things like create a budget and develop frugal shopping strategies (coupons, yard sales, etc.). Once you have these plans in place, you can troubleshoot problem areas and streamline your life. Don’t be afraid to keep adjusting. Frugal living takes a lot of practice!
Weigh Wants vs. Needs
Make distinctions between your wants and needs. When you understand the fundamental differences between the two you can begin to live more frugally. Wants are not things you should be indulging on a frequent basis. Take care of your needs first- the things you must have in order to survive. After that, develop a love for saving money.
Living frugal can be quite uncomfortable, especially at the beginning of your journey. However, as time goes on, you’ll be grateful to have learned these skills.