Why Frugal Living Can Enrich Your Life In The New Year

Why Frugal Living Can Enrich Your Life In The New Year

You may have said to yourself, “I need to start living more frugally… but it’s just such a change, I am not sure I will even know where to begin.” This is just one excuse many people give themselves when it comes to living frugally.

Since a new year is upon us, now is the time to start living frugally and here are 10 reasons to do so:

frugallivinginthenewyear11. You will be getting ahold of your finances, which is the best New Year’s Resolution you could make. Living frugally will almost always make most people start really budgeting and watching where the money is going and searching out new ways to do even better.

2. If you have children, you will be setting an amazing example for them on gratefulness, as well as how to live within their means as they get older. This is one of the best gifts you can give your children as it sets them up for success in their adult lives.

3. You will learn new skills. Living frugally means finding new ways to do things. This doesn’t necessarily mean harder ways to do things, but less expensive, instead. For instance, you may find that some of the issues you called a plumber about can be taken care of very simply at home by you.

4. You will find that the quality of your life improves because you are looking for more experiences rather than things.  You will treasure things more. You will find more reasons to smile.

5. You will be able to make and reach goals. No more hoping, wishing and dreaming for the things you want. By cutting little expenses, you will be able to make them happen!

6. It’s fun! If you start to live a different lifestyle, you will find that you may get hooked on looking for a better and cheaper way to do things. You will get little rushes of excitement when you “score” a good deal, find a free event or save money you didn’t think you had.

7. You can be more prepared for the future by living frugally. Many frugal living households find that they can create an emergency fund, a savings and stock up on necessities much easier when they start to live frugally.

8. You can get out of debt by living frugally. By taking a good honest look at your finances, you can start to pay off debts by eliminating expenses that are not necessary. We paid off $38,000 in debt in under two and a half years doing this!

9. You will find you have more time. Most people think living frugally will take more time out of their lives. The opposite is true. For instance, if you have a stockpile of day to day essentials, you will spend less time grocery shopping.

10. A frugal lifestyle will allow you to give more where you want to. By cutting unnecessary expenses, you will have more of your finances open for giving where you want including charities, events and your time. You will find that you may end up living so frugally you will have more than enough for your own family’s needs that you can donate extra to places and people that need it.

If jumping in with both feet seems overwhelming to you, start small. Start writing down every penny you spend. Once you have a good idea of your money in and money out, start examining your expenditures and find ways to cut back. Do simple things like turning the cable television off. We cut out cable by purchasing a Roku and subscribing to Netflix. That brought our television bill to around $8 a month! Reduce the number of times you each out each month by half and cook at home. Then start snowballing… roll the money saved into a debt payment or your emergency fund. You’ll be surprised how fast it adds up.

Comments

  1. Sandra VanHoey says:

    Great points you made and something we all need to apply to our lives. I know I try my best in things I purchase to use y coupons which I have saved a bundle on. We can always improve and save money and it may take a bit more time but well worth it.

  2. alicia k (Petite Pilates Pixie) says:

    more savings = better living!

  3. Julie Wood says:

    I have always stayed out of debt by living frugally. There is a peace of mind when not overspending and having the stress associated with the extra bills. I am going to start writing down and keeping track of the grocery spending because that is a place where overspending happens.

  4. Rosie says:

    I’ve always been frugal, and it is its own reward! All the benefits you say. I think people who like to be big spenders, or just don’t want to put the work into the detail it takes to be more frugal, they underestimate greatly how much they would save – and how great it feels! And if you think you can afford to live “high on the hog” because you have a great job, etc., circumstances can change unexpectedly, then you wish you had been more frugal. Never too late to start! It is the perfect New Year resolution!

  5. Rosie says:

    Being frugal is its own reward. I think people who take pride in being big spenders and even look down their nose at people counting pennies and saying that little piece of soap, etc., don’t realize how much they can save. Also, how much fun it is, to think you outsmarted losing some money for what would have been an expensive repair, etc. It is a great New Year’s resolution to be more frugal, it is “green” all the way around!!!

  6. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  7. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  8. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  9. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  10. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  11. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  12. ellen beck says:

    Living frugally doent mean you have ‘less’ oftentimes it means you have more. Instead of chasing after new and better things you can spend time on more important things like your kids, pets, family and serving others.

  13. Tanya Holland says:

    This has been something we have been trying to do. Maybe we can finally figure out how to do it and stick to it.

  14. Stephen says:

    A great resolution for the new year for most people! Thanks for sharing it.

  15. Rust says:

    Since I’vve found all the coupon and store ad sites online I have managed to make substantial savings in my grocery bill. I think that extra time hunting for coupons and deals online can pay off in a big way.

  16. Michelle F. says:

    Great tips and information. especially #2.

  17. md Kennedy says:

    One great benefit of a frugal lifestyle is that I find my house is so much easier to keep clean – less “stuff” really helps in this way.

  18. Richard Hicks says:

    SOme wonderful advice for all. Living frugal is a lifestyle for us!

  19. I love the focus on prioritizing debt pay-off and giving. We were able to pay off $65k in debt in a few short years by living frugally as well, and have loved the freedom of being able to give as well. SO good!

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