Definition Of Frugal - Are You Money Savvy?The definition of frugal is to be economical with your money or resources and being thrifty. It seems like for ages some people have scrimped and saved their way to live well. And some have even used that saved money to invest it in different types of passive income. These people have been called frugal or even by some "cheap". Which is not the same thing. What I’m talking about is someone who uses their money wisely, not a cheapskate. A cheapskate tries to get everything for free. Who Who uses their money wisely? You might be surprised to know (like I was) that many self-made millionaires do. They usually don’t go around spending carelessly. They know how hard they have worked to get where they are and appreciate the value of a dollar. But anyone can adopt this lifestyle of spending wisely. I have and have gotten used to the idea that my money goes further. What is your personal definition of frugal? Taking the time to look for good deals can help you in the long run. What What can you save on? I’d have to say, pretty much everything. Home expenses Clothes Car expenses Personal care - like haircuts, manicures Do you look for deals in the paper? Look for online coupons? Check out my frugal tips page for more ideas. Why Being frugal is especially important now. Why? Well, if you can save a few extra bucks you can begin to create a nest egg for yourself, if you don’t have one. Just in case. Having a nest egg of money makes you feel more secure. I mean, what if something happened and you didn’t have the money? By being savvy with your spending you have more freedom and options for those “What If's”.
When A definition of frugal can also be what you say. These are the 5 magic words that have saved me a ton of money! When you are about to buy something, before you hand over your credit card or cash, sincerely ask the person, “Is that the best you can do?” Oh my golly! You won’t believe how many times the person will give you a price break if they really can. And usually they will. How Ok, so begin by keeping a log of your expenses (like getting receipts) - major and small. The small ones really get you. Lots of small purchases add up super fast! A cup of coffee… a pack of gum… a bottle of water… going out for lunch… a movie rental… Before you know it, a day’s worth of little expenditures has become a big expenditure. How do I know this? I’ve been there, done that. I began to get a receipt for all the things I bought in a 2 week period. At the end, I added up everything. And I was totally shocked and amazed at how much I spent on the little things. I had to make some changes fast or else always be broke. Return from Definition of Frugal to top of page. Or go to:
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