To some people frugality is a choice, to others, it becomes a necessity. Life sometimes makes you live on less, and it doesn’t ask if you like it or not. But then again it’s often the challenging times in our lives – whether financially or otherwise – that teach us a lot about ourselves and make us better.
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Frugality is a thing of managing financial resources effectively and a thing of spending less money, something many people associate with deprivation and sacrifice, subsequently being unhappy. But you know what? Canadians who’ve adopted this lifestyle could be happier than most of us. Here’s how.
- Motivation
When you set your mind on doing something when you work towards a goal, and you accomplish that, how do you feel? You feel happy, right? And instantly motivated to pursue further interests, to challenge yourself to something even bigger.
That’s what thrifty people do: they set goals to keep them motivated and motivation is important because it leads to reaching our goals, which ultimately brings us satisfaction.
- Passion & hobbies
Because of good money management, frugal people can afford to follow their passions and invest in their hobbies. They have the money to do it because they’ve learned to save on other things: things like food, things like clothing, and things like entertainment.
They don’t worry or feel guilty about spending money on hobbies because they know they have the resources and they know they’re putting money into something meaningful.
- Travel
Everyone knows travel makes you a happier person, but most people can’t afford vacations and many people who do go on a vacation struggle to come up with the money for it or worry about how they’ll make ends meet once vacation time is over.
You’d be surprised how often frugal people travel, and without worrying about having no money to cover expenses. Their secret is saving up and traveling cheap: that means low accommodation costs, public transport, foot explorations, free places to visit etc.
- Priorities
Frugal people sometimes own the latest in technology or the latest in something. You see some traveling so often and others upgrading their television set to the latest model and ask how they afford if they are not wealthy?
They can afford because they prioritize. If traveling is their goal, then they are willing to drive a used car or live in a smaller house. If it’s a new TV set they’re saving for, then they’re happily committed to making meals at home instead of going out five days a week.
- Perspective
With living a frugal life frugal people learn what’s important first and foremost to them. It’s a different perspective of life that they gain with learning to live within their means.
Frugal people work towards not getting attached to the material things they own. But a frugal lifestyle also offers or is at least a way to gain financial stability. In turn, financial stability gives people a sense of control over their life and a sense of confidence about their future. They have less to worry about.