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Did you ever thought of saving money? Most probably YES, right?
But did you ever asked yourself, WHY? It's not only about solving your financial problem or saving money for future, it's about learning some great life lessons. Our every action must have a bigger and long term purpose instead of short goals and so is frugality.
This is my first experts round up post on my blog, regarding frugality. WHY? Because this is the first step toward our positive financial change. Apart from that, this is one of the most asked questions on Quora regarding financial issues and one of those questions has over 100 answers. Hence, I thought to get some valuable insights from the experts about being frugal. I know, this blog is not a financial blog but it's part of it and hence I am focusing on saving money through gift cards, claiming freebies, shopping hacks, buying inexpensive gifts and so more through my blog.
Let's get to the experts and know about their real life experience and knowledge about being frugal. I mainly asked the same question to these 5 experts which was "What are the Advantages of being Frugal?" and requested them to share their personal and practical point of view.
Alexa from Single Moms Income
For me, frugality was what allowed me to first create financial stability and then helped me to achieve all of my other goals. Thanks to keeping my expenses low I was able to quit my day job and pursue self-employment even when I was only making around $1,800/month. I knew that with more time and work I'd be able to substantially increase my income and savings but only if I was able to sacrifice and embrace frugality from the start. An added bonus is that frugality fosters creativity and helps you get clear on your priorities. When you only give yourself a certain amount of money to spend each month you have to make tough decisions and focus on the things that really matter.
Francisco from Passive Income Wise
Being frugal is not just about saving money, it's a lifestyle. Frugality is, basically, consume what you need. This allowed my family to have more time to things that really matter, stress less over things and, of course, save money for our first property. Plus, it's good for the environment.
Since we changed our mindset at home and started being frugal, we save an average of $800 extra every month, and it does make a huge difference in the long run.
Other advantages of being frugal are that it boosts your creativity and it teaches you to live better with less. In addition, if you go through economic difficulties in the future, you will be already trained to control your expenses.
Deacon Hayes from Well Kept Wallet
Freedom! Having no debt, and money in savings because of living frugally gives you freedom, which is what life is all about.
Kim from Tales of a Ranting Ginger
Saving money where possible allows me to spend more on the quality items that really matter. I can save on toilet paper and have extra for good food or extra curricular activities for the kids.
Lisa Washington from Of Life and Lisa
One major advantage of frugal living is that my family and I are able to enjoy a life of simplicity. There's no pressure to perform! We spend less time, energy and money on distractions which allows us to focus on things that actually make a difference in the world.
Honestly, I am just amazed to know such deep meaning and advantages of frugality. Hope you got it now, that being frugal is not just about saving money it's about freedom, creativity, living fearless life and so more.
I am eagerly waiting for YOUR story about how frugality has changes your life. Let me know via comment and if you think you have something tremendous to share with my readers then I will be glad to have you as my interview guest on this blog.