Frugal living is an alternate lifestyle that is being considered due to the pandemic. Those uncertain situations eventually lead people to think more of fueling their emergency funds rather than spending on fancy lifestyles.
The pandemic was able to describe people’s financial condition, their retirement fund saving and how strong the financial foundation is.
Adopting frugal living means we prefer to prepare our healthy meals from home than eating out, buying high-quality local products regardless of brands, and excluding ourselves from having the latest fashion or gadgets.
Nevertheless, a frugal person will set the standards for their quality of life without being bothered by people’s opinion. They decide to intentionally obtain their long-term financial goals.
Several studies have explored this lifestyle recently. Not only they associate it to personal long-term financial goals, but more to human life sustainability in the future.
The Covid-19 pandemic and climate changes, therefore, were the main reasons behind declaring and campaigning frugal living to today’s generation.
How to Live a Frugal Living Lifestyle
Here are some frugal living activities you can try:
Track Your Expenses
Writing down your daily expenses will help you track where your money is spent. Evaluate your spending wisely to stop buying things you don’t need.
Achieving financial freedom is one of frugal living goals. You need to save more to earn more money in the future.
Take Advantage of Promotions
A frugal will take advantage of promos to spend less on their needs.
Use Eco-Friendly Products
Having eco-friendly products is a must for a frugal person. They might cost more but have longer durability.
Reuse Second-hand Things
Maximizing use of second-hand things prevents you from buying new ones. You can shop secondhand or preloved products that are worth wearing. Another way to be frugal is doing your meal preparation, a list of your daily food intakes which is prepared at home. It is way more frugal compared to eating out.
Sort Your Platform Subscription Fees
More digital platforms have preoccupied entertainment in the past years and companies will charge you the subscription fee. Start subscribing to some platforms only, excluding the irrelevant
Set Your Priority
Living a decent life, a frugal person is able to save more money. Your priority should scale from buying primary needs first, instead of secondary to cut your expenses.
Compare Prices before Buying
Make sure to spend your money on the best quality product at a cheap price. You can always compare the product prices or take a similar product when the stuff you need costs more. The alternatives still work the same way and you can spend less on them.
Of course, there are many benefits if you run this lifestyle. Such as:
- Have a secured future: Your frugal living eventually leads to a secured future because you have more savings. The asset value is increasing over time that earns you more money in the future.
- Achieve financial freedom
- Lead a calmer life
- Help the environment: Living a frugal lifestyle will make you consider using more eco-friendly products. While they are beneficial to your finances, you also help the environment at the same time.
You can’t go wrong with giving yourself a try to live a frugal life. It is capable of handling and giving you a secured financial life