When most of the western world is driven by consumerism, choosing a life of frugality almost seems like an act of rebellion. So why be frugal? Why not just go with the flow and join in? I thought I’d explore the different reasons people choose a frugal life. Personally, I’m frugal for all of the reasons below, how many do you feel apply to you?
What is Frugal?
A lot of people think being frugal is the same as being cheap– always choosing the cheapest option and doing anything not to spend any money. Really, frugal could easily be renamed to intentional or mindful spending. Getting the best value for money and choosing to take time over purchases instead of impulse buying.
Freedom and Control
The more you buy, the more you need to earn and the more complicated life gets. The more stuff you have, the more housework, upkeep and ongoing expenses there are. So, by being frugal you are naturally making your life simpler. It can often feel we don’t have any control over our own lives by trying to meet the demands of others. By minimising financial needs, many people can decrease their work hours or give up work entirely, giving them the freedom to choose how they spend their time.
To Look After the Future
Whether it’s for their own retirement, or their family, spending mindfully can mean living more comfortably in the future. By reducing unnecessary spending in the present, many frugalists are able to retire early, pay off their home fully and leave a healthy nest egg to their loved ones.
To Reduce Stress
Let’s face it, life is stressful, especially if debts are involved. Living frugally can significantly reduce stress, by freeing up money to clear debts and knowing the bills can be paid. Also choosing a frugal life can include choosing to opt out of many stressful (and expensive) social conventions and give a greater appreciation for living simply.
To Be Creative
As I said in the About Page, being frugal is a very creative way to live and lots of people thrive on this! Some people simply enjoy seeing what they can do with what they have and it becomes like a game to find new ways to save and use what you already have.
To make dreams come true
Many frugal people just don’t want to spend money on small things because they have a bigger goal in mind. Buying your first home, travelling and starting a business are just some of the reasons people forego unnecessary expenses.
To help the environment
Let’s face it, consumerism is not a friend to the environment. Many frugal habits also happen to lessen the strain on natural resources and reduce how much goes to landfill. For many people the environment is more important than money and the main reason they prefer to live frugally.
Valuing Quality over Quantity
Now more than ever it’s too easy to be tempted to buy things we don’t need regularly. Many people are tired of cheap quality products and choose frugality so they can afford less things but better quality. This, in turn tends to actually save money as the better quality items last longer.
Necessity
Of course for many there is no choice but to watch every penny and living in poverty is a growing problem in many countries. Here in the UK the statistics of people living in poverty are very worrying, with 22% or 14.4 million in 2021/22. If you are struggling, please consider contacting charities such as Shelter, Citizen’s Advice and The Trussell Trust.
For some people, being frugal is a temporary necessity, but for others it’s a way of life. I myself find it fun and very empowering, but it’s also nice to have a break from it occasionally to avoid burnout and a rebound spending splurge. It’s important to make sure frugal living doesn’t spill over into being cheap and have a detrimental effect on your standard of living. Make allowances in your budget to enjoy yourself and being frugal can be an amazing lifestyle choice.