| What is frugal living? How does frugal living help me save money? |
| Frugal living is just a way to get more of what you have. In addition to earning more money, you can live frugally to maximize your resources. As you can see below, frugal living is a part of an equation to boost the wealth you can accumulate. Many people focus on maximize earning, but neglect to minimize spending.
maximize earning - (minimize spending) = wealth that you can accumulate
While people have different definitions of frugal living, many agree that living frugally reduces wasting resources, not just money. Frugal living helps you with your budgets and helps you to achieve your financial goals faster. |
| Does frugal living mean I have to make a drastic lifestyle change? |
| No. It is up to you how much lifestyle change you want to make to live frugally. You can start small and move gradually towards bigger changes.
For example, you can start by bringing your lunch to work. If you spend just USD $5 lunch every work day, you are spending $100 per month on lunch alone ($5 X 20 work days in a month). Bringing your own lunch not only saves you money, but also helps you lose weight because you can control the portions and you know what goes into your food. Bringing your own lunch is a small, easy, and feasible step towards frugal living. |
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