Friday, 28 June 2013

Being Frugal is Fun

Being Frugal Is Fun - Your Time Is Worth Something Too


 Some people earn money. However, they do not know how to spend it judiciously. Some of them squander away the money. They called prodigal or spendthrift people. For this, they suffer a lot in their life. They cannot get money at the time of need. They cannot give their sons education. They cannot give their daughters in marriage. They run into debts. They lose all and at last, they are on the street.

If I want to know what a word means, I usually run to my dictionary or do a quick search online.  Keeping true to my normal mode of operation, here is what I found in my first search for the meaning of "Frugality."

Love what you are doing, being frugal, is such fun! Stay focused on living frugally. Do not give up, saving money in today's world takes time, but I feel my time is well invested. When sitting down to watch a television program, I cut and file coupons, or look through the newspaper for other money saving offers. I am passionate about saving and talk to friends and family to find out what ideas they can share in living frugally. I never fail to read the Thrifty Fun newsletter. If I do not have time, I move them from my email inbox to a folder created just for the Thrifty Fun newsletter. Have fun saving and remember to share with others!

If I sat down to choose a catch phrase to define frugal living in today's world, I would probably say frugal living equals "living within your means."

 The reality is all riches have limits.   Some of us live with more limitations in the riches department of life than others, but even the largest fortune can still run dry if no restrictions are set on spending.   After all, how many mansions, yachts and private jets does one billionaire really need?

By cutting back on basic expenses, it can enable you to live out your dreams, get out of debt, and find yourself on the road to enjoying a financially stress-free life.

Why Live Frugally?

I have found over the years that people choose to live frugally for one of the following reasons:

1) Limited income
Whether someone's just starting out in an entry level job, or perhaps a young family choosing to have one parent home full-time, there are a variety of situations that make it necessary, either temporarily or long term, to live on a small paycheck.

2) Emergencies
Unemployment and medical emergencies are two common and usually unexpected difficulties that can throw even a financially well-off family into the "we-have-to-reduce-our-expenses" mode of living.

3) Debt reduction
With consumer debt rising each year, many find themselves juggling debt, maybe even borrowing money from one credit account to pay the monthly fees on another.  Reducing debt can seem like an overwhelming prospect, but for people who are serious about getting out from under the heavy weight of monthly installment payments; frugal living can be the perfect solution.

4) Stages of life
College students, young married couples, single moms, and retirees can all be in stages of life when there is a lot more months left at the end of the money and it becomes needful to examine the budget to look for ways to pinch a few pennies here and there.

5) Philosophical
Many people look for ways to reduce their spending as they voluntarily choose to simplify their lives, maybe to allow more time to connect with their families, community, and hobbies.

The Benefits of Frugality

Reducing spending can have far-reaching benefits beyond just today's grocery bill.

1) Achieving dreams
By cutting back on monthly expenses, many people are able to fulfill dreams they may have decided were out of reach:  Going back to college, being home full-time with their children, working from home, buying a home, starting their own business, pursuing a favorite hobby, or acquiring acreage in the country.

2) Becoming debt-free
The first step for getting out debt is to stop going further into debt. Choosing to live within your means is the beginning of debt reduction.

3) Easing stress
Pinching pennies in daily life can allow you to re-prioritize your expenditures and have more available for things like vacations and hobbies, and if you don't have to work as much just to meet basic expenses, you'll have more time to spend with your friends and family.   If you are in over your head financially, a huge stress
reliever is putting an end to phone calls and letters from bill collectors.

4) Reducing ecological footprint
One-way that frugal living helps the environment is when someone chooses to use more homemade food items; it cuts down on relying on over-packaged convenience items.  Those items may make life a little simpler in some ways, but the packaging adds a huge amount to local landfills.

So whether you're a single mom trying to make ends meet, a middle-income family deeply in debt, or you have life dreams you'd like to accomplish but think you can't afford, frugal living could be just the ticket to get you on your way to accomplishing your goals.

Everybody has to learn a lot from story narrated above. Frugality is the most necessary quality for every person. The students should practice frugality at their every walk of life.

Posted by : Doshti

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