Finding yourself in a frugal frame of mind is a good way to be. Because you’ll often find that spending money aimlessly will get you in trouble. Not only can thing bring on financial issues such as debt, but you can also poison your mind and end up in a vicious spending cycle. So, when you choose to live in a frugal way, you’re often doing the best by your own mind, as well as your finances and family.
The Frugal Way
Frugal living is a great way to ensure that you have everything you need, but that you’re not frivolous with money. Frugality doesn’t have to affect your lifestyle. It’s easy to believe that you’re going to have to radically change your life (and suffer for it) if you want to live a frugal existence. But that’s not always true. You simply make smarter decisions, look to cut back where you can, and generally aim to not waste money. And that’s the difference. Living frugally is about making the most economical decisions, and prohibiting waste. So, you get to make the most of what you have!
Issues With Frivolity
The main issue with frivolity when it comes to finance, is the detrimental effects it can have on your money situation. It’s easy to use credit cards to pay for everything, not realizing how much interest you’re paying, or how much debt you’re building up. It’s easy to pick up takeaways, a new pair of shoes, and enjoy an evening out with friends because it’s what you want to do. But when you’re not conscious about the money you’re spending, you can also damage your mind as well as your bank account. Because spending can become addictive. And before long, you may find that your spending is out of control, well beyond your means, and you’re left in a financial mess.
But Don’t Be Afraid
However, it’s essential that you don’t let this stop you from spending money altogether. Sometimes, you can be so set on cutting back, being frugal and avoiding frivolity that you completely cut yourself from living life. And that’s not what frugal living is all about. You just need to learn to be smarter with your money, and that means making the right investments, not none at all.
Where It Counts
But, you just have to ensure that you’re spending where it counts. Because not every kind of expenditure is frivolous. If you’ve saved up, thought it through, and shopping around, why shouldn’t you invest in certain things? Whether it’s the finest quality Hypnos mattress to help you get a good night’s sleep, a relaxing sofa, a new family car, or even a family holiday. Spending where it counts is the idea here. You can invest, but it’s exactly that – investing in your future or your family. Not spending frivolously.
Finding A Balance
Because it’s all about balance. Just like overspending can be an issue, you may find that you’re holding yourself, your finances, and your family back by being too frugal. You still need to be able to live your life and have fun, so it’s all about finding a balance and making frugal living work for you.