It struck me today-why bother? Why do (or should) we spend the time or effort to be frugal?
The answer to this question is highly personal. For me:
#1-Because it provides peace of mind. I don’t have to be constantly worring about how to feed my family, make my payments or escape the bill collectors.
#2-Because it provides future security. Our frugal lifestyle allows us to save for retirement.
#3-Because of philosophy-I hate waste. I don’t want to waste my money or my time. Frugality just fits in naturally with that philosophy.
#4-Because I find it challenging. Living frugally is like a strategic game. . . how much can I save? What can I do without? What can I use instead?
So what are your reasons for living frugally?
{ 17 comments… read them below or add one }
To extend your #4 point that it’s challenging, I would have to say that the challenge is fun.
I’d also add to your list that “It’s how I was raised.” Although I often think that answer is a cop-out in other situations, in this one it works.
I find that for me, it’s a healthier lifestyle as well. Eating out is usually completely off the menu, so I cook at home with a lot of fresh fruit and veg. And I agree with Annie, it is fun. I love hunting for better deals on the things I use.
I agree with your points. The best one I can add comes from my belief system: good stewardship. When I can stretch the resources provided me I am doing my best to respect it with as little waste as possible. It also allows me to make charitable contributions, which is extremely important to me.
I agree with you and I learn alot from you so, maybe helping others is a reason why.
1)Security: Retirement and to counter-act Hubby who at times becomes a spendthrift. Last summer he went on a spending binge and putting #2 in danger. So we are digging out.
2)Preference to send our kids to parochial school.
I ask myself the same question everytime I see my “fancy” friends going out to dinner, buying really fancy cars and houses, but then I take a good look at my savings and it suddenly makes all the sense in the world:) Atleast I can lay my head down on the pillow without as many worries:)
I love #4. Since I started this journey, I realized how much fun it really is…I love seeing how much money I am saving and if it is really making a difference. The answer to that question is YES!!
I totally agree with #1 – peace of mind creates so much less stress in your life.
Rebecca
@alice
For me being frugal is just the way I have always been, sort of putting my socks on every morning, I just don’t think about most things anymore.
Beyond that I really do hate waste, I do not mind spending money on an item that will provide the value or more of what I spent for it, but I hate waste.
That is what stops me from buying convenience foods, or buying clothes full price at the mall, when I know I will get them cheaper either elsewhere or when they go on clearance.
Lastly for me it is an environmental thing too, I try hard to be conscious of our carbon foot print, so by being frugal I know I reduce that a lot too.
I guess I’m frugal for all the same reasons you are. Even if it wasn’t an economic necessity for me, I would still do it. I too hate waste. It’s fun to see how long I can make things last, how little I can spend, and how much I can save. It’s also about the environment, and making as little impact as possible. I guess its just in my frugal Yankee blood!
Survival is my reason. I got to see my family lose a house in the late 80s recession. We lived without electricity and the basics. That suffering taught me this is the only way. If you cannot control your finances you cannot dig yourself out of a hole. My relatives lived in a fantasy world buying what they could not afford, did not need and lost it all. Keeping up with the Joneses is not what is important. Survival is.
I have always been very tight with money most of my life. I grew up with a single Dad who had a drinking problem. As an adult I have always been very careful about money to be sure that I myself could provide for my family. My husband is a bit of a spender so it has been an issue in our home about funds being allocated for which purposes. Over ten years we have learned what works and what doesn’t. I think those are normal marital growing pains and my husband now enjoys the game of frugality. Peace of mind for me is important. I hate waste, I try to do my best and I am always on the lookout of new ways of saving. I do have my days that I cannot prepare a meal and that is when my planning that Jenn talks about goes into effect. If not my family will eat eggs or cold cereal for dinner. They get over it!!!!!!!
Now that I’ve lived frugally, I could never go back – even if we won the lottery. Why would I pay $5 for something I could get for $1 with coupons and waiting until it goes on sale? I don’t love the extra time and energy that always goes into living a frugal lifestyle, but I feel so much better about not being wasteful.
I am frugal because I have no choice. LOL Well, I choise to sahm to DD. To me it really isn’t a choice with the cost of good daycare.
I posted on this last week. Being frugal is about being a good steward to the resources we have and keeping an eye on the long-term.
Redefining Frugal: Identifying Big Priorities
Your point #1, peace of mind, should be reason enough.
Many of your reasons and the above reasons apply but I have one more.
Being frugal in most areas allows us to afford more in areas where it really matters to our family, organic foods for one.
Living within your means rocks! By that I include some saving, investing and occasional splurging but I don’t go into debt to do it. I do not want to have to deal with debt collectors.
I like being able to afford what I need and then get some of the things I want. Living frugally makes me consider what is important and prioritize.
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