This article has everything you need to know about benefits of frugal living.
The thought of being frugal brings fear to those that want to enjoy life.
Frugal living is not that extreme. It may seem difficult at first, but after a while, it becomes fun and you are amazed by what you have achieved just by compromising.
Living a frugal life is easy, when you form good habits; you won’t find it difficult maintaining them.
Most people confuse frugality as being cheap and living a life of deprivation, they believe the more you have money, the more you should spend it.
On the contrary, being frugal is a life filled with potentials and capabilities; you actually get smarter and view life from a different perspective.
You determine what you want in life and device a means to achieve it, eventually you realize that life isn’t as tough it is seems after all.
Living a frugal life is easy, when you form good habits; you won’t find it difficult maintaining them.
People embrace frugality for different reasons. For some, it could be that they are going through some tough time, others it may be that they just want to cut down on their expenses and save more.
It could also be because economic hard ship and job insecurity. Whatever be the case, being frugal is beneficial.
Benefits of Frugal Living
1. Saves money
Frugality is a means of getting rich slowly; adjusting your spending habit could result to great fortune without your knowing it.
When you cut your expenses, you will be amazed by the amount of money that could save within a short time. You will be able to pay rents, bills and education without difficulty.
It leads to financial stability; you can be able to pay for emergencies. You realize that there is little or no chance to borrow money.
2. It frees up time
Unplanned spending could actually make one spend an unbelievable amount of time shopping.
When you live frugally, you spend less time on material things; you spend less time in traffic or working and less time paying bills.
You find yourself becoming more social because to spend more time with people and as well spend quality time with your family and love ones
3. You spend wisely
When you know the amount of money you have, you will buy what you could afford at a particular time.
Being frugal, helps you discover the important things in your life that needs utmost attention, it creates more spending options and you control your wants.
You realize that you don’t necessarily need to have the latest gadget, flashiest car or latest designer outfit. Being frugal helps you to make tough decisions; you choose what best to invest your money.
4. You are happier
If you don’t have lots of expenses to make you realize that you have little to worry about. When you are financially confident you worry less which brings about peace of mind.
Living a frugal life make you happier and satisfied. When you look at your achievements, the amount of money you have saved, you feel proud about yourself.
SEE ALSO: 15 Best Frugal Living Tips That’ll Save You Thousands In This Year
5. It leads to appreciation and contentment
Living a frugal life makes you appreciate the resources you have and be grateful, you feel contented with what you have instead of whining for expensive things, you start seeing life from a different perspective, you find that you don’t necessarily need the most expensive things to be happy, just a loving family and food on the table is enough for you to be happy.
This will also increase your generosity towards the needy, you feel you already have enough; you give without difficulty to people that are in need.
6. It brings about creativity
Frugality opens a world of possibilities; it strengthens your imagination and makes you start thinking outside the box.
You start looking for alternative way of doing things and most times discover your hidden talents. Frugal people do a lot of things themselves without necessarily seeking the help of a professional.
They fix their cars, garden, cook, fix leaking roofs in other to save cost and them willingly learn things they can’t do thereby acquiring new skills. Being frugal keeps the brain alert
7. Reduces Stress
Spending less reduces the hassle you have to deal with on daily basis.
Frugal people have lower stress level than others, due to their planned life, they borrow less hence they have little or no debt to pay and they work fewer hours because they have fewer expenses to make.
People who make large expenses most times borrow in other to meet their needs hence, having more debts to worry about as a result, they work more hours and sometimes add more workload to in other to make enough money to pay their debts which leads to stress (1).
Stress could lead to heart problems, depression and anxiety. People that live frugally are less likely to having these health problems
8. Healthy living
Frugal people live healthier lives, they make good food choices, instead of junks and fast foods they eat better foods also when you cut down on meat consumption for more vegetables, and you reduce your fat consumption which balances cholesterol level and body weight.
Cultivating your own foods or buying directly from the farmers instead of groceries is not only cheaper but healthier.
People that live frugally also exercise more. They tend to do most things by their selves in other to save cost.
For example, a frugal person will prefer to move his stuffs by himself packing out of a house. Biking to work to save on cost of owning a car is also a way of working out
9. Ability to switch career
People with large expenses most times are trapped in their jobs; they tend to keep working a job that they don’t feel happy with because they have little or no savings.
Being frugal can actually help you live your dream, with low expenses and enough savings, you can quit a job whenever you want for a better fit without difficulty.
10. Retirement
Living frugally helps maximize retirement investments and creates a possibility to retire early, if have low expenses but earn big, you could save your excesses for your golden years, you find out that you must have saved much within a short period of time and you can even retire at a very young age and live off your savings.
SEE ALSO: How To Save Money Each Month: 15 Ways To Save $150 Per Month
11. Green living
Some of the things frugal people do not only saves their money but also saves their environment. Frugal people waste less of everything, from food, water to energy.
For example they make compost for their garden, choose to walk instead of driving and reuse grocery bags instead of getting a new one all the time.
These save the environment for detrimental effects caused by wastes and emission of poisonous gases.
12. You control your life
When you do things by yourself, you run your life. You know what’s in your food, and know exactly your financial earnings. You can as well manage your future effectively.
No matter what comes your way even if it is marriage, travel or paying for college, you should be able to handle it and the ability of handling unforeseen circumstances without going into debt is the key to a healthy financial life (2).
13. You set a good example
When you are a good money manager, you set an example for the younger generation, your kids most especially. They go on to live more frugally which could lead to a better life for them.
Thank you for reading this article about benefits of frugal living and I really hope that you take action my advice.
I wish you good luck and I hope its contents have been a good help to you.
