Can Frugality Make You Happy-Personal Finance Post

Can Frugality Make You Happy- There are some Frugal Rules to accomplish the latter…

Frugality and happiness aren’t something society usually put together. Frugality often brings up images of great sacrifice. We think of the miser who lived in poverty only for others to find millions saved after the miser passes away.

What was the use?

Frugal living isn’t necessarily what you may consider it to be. Frugal people live very happy lives. They find happiness in meeting goals, reducing their financial burdens, and living stress-free.

How happy can you be when you are drowning in debt and struggling to make ends meet? You aren’t living frugally, but you aren’t happy either.

The frugal person often sees each step towards being debt-free or early retirement as a great success. They don’t focus on that outfit they didn’t buy or that new car they aren’t driving.

They focus on having spending money left over at the end of the month. While also focusing on the things that really matter, which includes paying their credit obligations on time.

Frugality Can Be A Challenge

Frugality is also a huge challenge for some people. They cannot imagine themselves looking “cheap.” That of course is the wrong perception of living a frugal life.

When you decide that living a different life that can set you financially free, at some point, you forget about what other people think. You can start being creative with your money and the way you live.

Many people love moving from one thing to another, looking at the way to cut costs for each category. For example, you’ve cut your utilities, you stop shopping for pleasure, and now what about your groceries or gasoline consumption?

I have a cousin who has never worked a public job. Her husband worked, they lived frugally, and they have been set for a good life after retirement. They did not splurge on buying “things.” They certainly did not try to live like their neighbors or their family. While living modestly within their means, they accumulated their wealth.

It Is Important to Have Goals

The goals that you associate with the need to be frugal will keep you going. The daily, weekly, and monthly victories and challenges will keep you interested and determined. Each time you reach a goal, it brings more excitement and courage to keep at it. Once you reach a debt-free lifestyle, then your life will be stress-free as well.

It is important to write down your goal of living debt-free. Each goad you explore and accomplish will eventually get you to that final goad. It is a great feeling to know that all you have are your living expenses.

Then think about a short-term goal of having two thousand extra dollars a month. This is where you put the money in a safe haven account to make sure it is not spent, and then it will accumulate to 5k, 10k, etc. Think about it!

Dollars that aren’t already spent before you make them is what one of your goals must be. Think about retiring early to do something you enjoy instead of something you have to do.

Dwell on following your dreams when there is more money budgeted. Think about having money saved so that you have a surplus if something out of the ordinary happens.

Frugality will get you where you need to be to enjoy life now, and later on as well.

Now wouldn’t that make you happy? Of course, it would, and this is something that you can do.

There Are Frugal Rules -One size does not fit all…

Frugal living is something that you undertake for the long haul. It isn’t something you can pick and choose to do one day and not the next-that is, not if you expect to see progress toward your goal. You do have a goal, don’t you as we spoke of above?

If not, read the final tip here first. Below are several things you need to keep in mind if you are considering a frugal lifestyle.

Not every frugal idea is workable for everyone.

There is a balance between frugality and the time that it takes to meet your goals. This is unique for each person. Some people have time to make their own laundry detergent, and others may make their own homemade bread. Some people only have the time to do simple things. Such as reading the labels to see if the off-brand ingredients are the same as the name brands. You don’t have to use every idea you hear about in the same fashion as everyone else.

Start saving your savings

When you save money, you need to go ahead and put the money in a jar until you have enough to put it in the bank. If you save $20 on a shirt you didn’t buy, put that $20 in your jar. If you save $1.59 on groceries, put that money in the jar. Many grocery stores receipts will even tell you how much you save. That makes it easier for you.

Spending money you save in one place on something else is still spent money. The goal must be to save what money on what you are buying and then put the overage to saving.

Do Your Homework

There are lots of ways to save money, no matter how much of it you have – or don’t have. All you need to know is where to look to find the savings.

The first thing you need to do is eliminate ALL of your unnecessary expenses such as eating out on the weekends, buying lunch at work every day subscribing to magazines, newspapers, and cable television.

It’s OK to reward yourself once in a while, but if you are really looking to live frugally, you owe it to yourself to save every single penny you can!

Finding ways to reduce your expenses

To find other ways to reduce your expenses, take a close look at your checkbook and credit card statements. You should also call your credit card companies to see if they will lower your interest rates.

You’ll be amazed at how many ways you can save money, especially once you start looking carefully at how you spend your money every month.

For those expenses you can’t eliminate, it’s time to start shopping around for the best prices. Things like car insurance, groceries, clothing, and gifts can be found at very reasonable prices if you take the time to seek out the bargains.

The same is true of many of your monthly expenses – like long-distance telephone service, internet service, all types of insurance, mortgages, and in some places even your utility bills.

So, if you’d like to save yourself lots of money every month – and who doesn’t – start shopping around and looking for ways to lower your monthly bills right away. Add this to cutting out unnecessary expenses and you could find yourself being able to save thousands of dollars each year.

The initial investment of time to seek out the best values will be well worth it in the long run.

Set Your Goals And Stick With Them – Then you will know the answer to Can Frugality Make You Happy

You have to have a reason to be frugal. Whether you want to get out of debt or go on a cruise, you have to have a goal. Don’t just leave it vague. Write down the specific steps you are going to take. Look at your goals every day.