frugal living is the act of being very intentional with your spending and if done properly you can
prioritize the things that matter most to you you'll be able to spend money on the things you
value and cut back on things you don't necessarily need there's no clear path to frugal living it's
a general lifestyle that encourages people to give up what they don't really care about
in exchange for what they really want sometimes it means spending more time to save money but it can
also mean spending money to buy yourself time the best part about frugality is that you're able to
create your own approach you decide where you will live stingingly and where you will live largely
frugality might not look very appealing on the surface but in truth
living frugally has a bunch of benefits and once you get to experience all the amazing benefits
frugality has to offer you might not want to look back now let's look into some of these benefits
1. frugal living is good for the environment the good thing about spending less is that
you're accumulating less stuff and using fewer services and although frugality and minimalism
are slightly different they have similar practices and oftentimes result in the same outcome
some of the most basic concepts of frugal living are actually environmental friendly even though
you weren't setting out to do so for one using less energy by using energy efficient light bulbs
turning down the ac in summer and unplugging electronic devices when not in use to reduce your
electricity bill you're doing the environment a favor driving less often to conserve fuel
also has the same effect it's also good to prepare natural fresh foods instead of buying
pre-packaged meals by using whole ingredients that are closest to their natural state
you not only save money but you also lessen the impact that packaged food has on the environment
give yourself a waiting period for all your non-essential purchases if there's something
you want take a few days before purchasing it and reconsider whether you still want it or not if
this is applied constantly you save yourself a lot of money and at the same time cut down on waste
while still having the things you genuinely want by buying less not only does your wallet thank
you but also your surroundings because you're reducing the amount of goods to be produced
two frugal living can improve health and reduce stress about 73 percent of americans attribute
money to being a major cause of stress turns out frugality is actually a great solution
to this stressor you don't have to constantly pursue more money to cover all your expenses
if you look into frugal practices that don't interfere with your way of life
you'll still be able to do the things you enjoy and feel less stressed out
people who live a frugal life have improved health because living frugally tends to lower
stress levels reason being they don't have a lot of expenses they need to think about people who
are in debt constantly have to work to earn more and pay it off having increased workloads and
add to that concerns about making payments is a cocktail for heightened stress levels those who
choose to live frugally on the other hand are able to live debt-free and even those who do have debt
are still able to relax because their daily costs are low there are also a number of ailments linked
to stress which are less likely to happen to those who lead a frugal lifestyle at a basic level
stress can reduce the function of your immune system which increases the chances of getting
other illnesses including mental health problems but people who live frugally may not be prone to
getting these issues since they're not as stressed 3. frugal living allows you to appreciate life
and focus on what matters another benefit of frugality is that you're able to have more money
for things that matter life isn't all about money and the things you own after all we shouldn't only
think about the things we can get with money but also the experiences it offers us you can always
use some of the money you have saved up to go on vacation with friends or family or spend it on
something you truly value in other words in a way that will allow you to make the most out of life
living the frugal life makes you fully appreciate what you have not only do you feel the utmost
gratitude for the life you live but you learn to make the best of what resources you have instead
of getting rid of your possessions when you no longer have any use for them you repurpose them
when you're grateful for what you have and mindful of the hard work and efforts invested on your part
to acquire it all you let little go to waste 4. frugality can improve social relationships
sharing things is one of the most powerful ways of saving money these include your possessions ideas
and activities and aside from this you also improve your relationships or form new ones
with those you're sharing with share babysitting duties with the parents of your children's friends
share your garden tools with your neighbor they lend you their shovel this week in the next
you lend them your gardening sheers share meals with friends the common denominator here is that
they're all social they all involve interactions with people your friends neighbors people in the
community etc and there's definitely a lot to be learned and gained from these interactions
5. it's easier to help the causes you care about spending less money leaves you with funds that you
could use to donate to the cause that's important to you it's nice to know that you're furthering a
cause you care about but contributing to charity actually has more life benefits including health
benefits and a lasting sense of joy you can easily elicit this feeling by being a little
frugal and giving to others hard to believe as it may be someone can be frugal and generous at the
same time and this is because being frugal is not about just spending less but also spending money
on the more important things being frugal doesn't mean you're selfish as a matter of fact frugal
people are more generous when it comes to making donations offering services and giving tips and
whenever they give to family the church or other people in general it always comes from the heart
we should always be willing to give being generous with our time money and resources
helps build other people up and also solidifies our happiness on top of that being generous
especially to those closest to us cultivates and strengthens the community to which we belong
you don't really need much to have a good life you can be satisfied with a simple
frugal life this means there's money to save or give generously to others
it means you are able to share the fruits of your labor as you see fit now if you've been getting
value from this video so far pause the video right now hit the like button and go ahead and
click subscribe if you're new that way you'll be notified of all of our inspirational videos
just like this one done great let's continue 6. frugal living can help you retire early
intentionally living a frugal life allows you to carefully plan for your financial freedom
and reach your financial goals a lot quicker each time you decide to spend less on something that
adds little value to your life you get to put that money into something that matters to you
so if you're planning to retire early you need to build up enough wealth to sustain you
during your retirement years if you allocate more money towards retirement retiring early
might be a possibility first of all you have to define what retirement means to you
retirement to some may mean not working ever again and to others it means they want to pursue
their passions without having to worry about money some might want to retire to a quiet modest life
while others might want to travel the world and live lavishly before you can plan accordingly
figure out what you want and expect from retirement building frugality into one's life
starts gradually the benefits of spending less and saving more aren't apparent from the get-go
it can take quite some time before you can garner up enough to support the lifestyle
you desire so what can you do to prepare for the day when you have enough to finance your lifestyle
have a spending plan in place in the same manner in which you had a savings plan to
create financial independence come up with a detailed plan that will ensure that your money
will last your lifetime and in this way you'll set a clear spending limit so you know how much
you can spend without feeling anxious or guilty that you're risking your future financial security
7. frugality leaves more money to save an interest living a frugal lifestyle frees up more money for
you to save and invest and you'll be able to do this by adjusting your spending habits you'll be
amazed at how much extra cash you'll come up with after cutting back and with it plan for a better
future not everyone is able to save and invest for the future mostly because we tend to overspend
but when you're frugal there's always something extra to put away for your future and that of your
family if you don't have any debt to pay off or the one you have isn't a lot you can use the extra
cash to look into long-term investments which have been proven to be one of the best ways to become
financially wealthy the few dollar bills you save each month by being frugal could be used to invest
and it has the capability of making a huge impact on your finances as the years go by
eight you're more content frugal living is all about learning to live with less improving your
financial situation and not comparing yourself to others by embracing a frugal lifestyle
you come to the realization that your journey is different from others you have different goals
and priorities so when you're invited over to someone's house that happens to be bigger and
nicer than your own or that they drive a much classier car than your eight-year-old previously
owned car you don't feel bad or uncomfortable the moment you form a new perspective and learn
to live within your means and focus on the important stuff it removes the envy from
your heart that you might normally feel when you see someone who's wealthier better off than you
and when you practice frugality you get to see how often people spend well beyond their means
just because someone has a fancier house or car doesn't necessarily mean they have more money
in fact in many instances they're drowning in debt frugality may seem like a lot of work to many
who have simply concluded that it's not worth it but those who are frugal know that it doesn't
take a lot of extra time and that the benefits of frugal living to a great extent outweigh
the sacrifices and time spent i hope this video has changed your views about frugality
also let us know your thoughts with a comment down below with that said
thanks for watching have a good one and i'll see you all in the next one