Rich men use most of their money to get richer. Poor men use most of their money to look richer.” -Mokokoma Mokhonoana

When we say live a frugal lifestyle. Sometimes people misunderstand for buying cheap things or they think frugal is equivalent of a miser.

Being frugal is not buying cheap or low-quality products or services it is also not being a miser.

Being frugal is about living a simple life and spending money where you get the maximum value out of it.

Value in terms of serving the purpose, saving the time, value in terms of how it is going to affect your mental and physical health.

Buying things just because everyone has one is not what a frugal person does.

A frugal person avoids wastage, utilise the existing goods in the best possible manner.

Just for example.

What do we need to keep ourselves fit.

Exercise daily for 30 to 40 minutes. You can do this without any equipment(s), or you can just go for some basic things like a set of dumbells, or a yoga mat.

What you don’t need

• A costly pair of shoes

• A great health tracking device.

• Costly gym membership.

• A costly and great looking lower.

• An amazing set of headphones to listen to music while working out

• 4 to 5 apps that can help you in your workout.

Advantages of being Frugal

• You will save a lot of time.

• You will save a lot of mental energy.

• You will live in peace.

• You will be happier.

• You will be more satisfied.

• You will save more, invest more and create enormous wealth.

• Your Patience will increase.

• Overall your physical health will also improve as frugality will let you avoid some unhealthy habits and purchases.

How to be Frugal

• Delay gratifications

• Avoid wastage

• Delay your luxury buying decisions.

• Don’t buy/spend because someone else is doing it. His income levels or his needs or wants may be different from yours. You don’t know whether he is using his own money or borrowed money.

• Don’t follow influencers, who just show off stuff or unnecessary promote brands which they themselves are not fans of.

• Don’t try to copy your favourite social medial influencer.

My Wealth Disclosed

Read more about savings here

Neeraj Arora

Savings

Savings - The ultimate tool to be financially free and create wealth. The first money lesson I taught my daughter is the concept of savings. Saving for rainy days, what we normally call emergency funds. Savings for living a life with no tension while going to sleep. This is my favourite one, saving with goals. I call it “NO TENSION FUND…

Read more

a year ago · 4 likes · Neeraj Arora

I am not saying that you should become some monk or start living like one. Frugality (The quality of being frugal) is about living life to its fullest (may sound contradictory) but only in terms of things that really matter to you.

All the best

Regards

Neeraj Arora

सीखते रहें, क्यूँकि सीखना बंद तो जीतना बंद