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Why Frugality Will Change Your Life

10 Reasons Why Frugality Will Change Your Life Frugality is an idea that has the potential to change your life. It might sound too simple to be true, but this idea has allowed me to do many things in my life with very little money. It's allowed me to travel the world, graduate debt free, and move across the country to Colorado. In this video, I discuss this concept of "frugality," which means carefully managing your money and not wasting anything. I discuss all the benefits that come with spending less and being more conscious of your money. 1. Freedom Becomes Realistic Money allows you to have more freedom in your life. The truth about money is that it is much easier to save $1 than make $1. When you are frugal and live below your means, freedom becomes more realistic because you need less. 2. Life Can't Hit You as Hard No matter who you are, life is going to hit you; however, it won't hit you that hard if you are frugal. If you live a lavish lifestyle where you spend a lot of money, life can hit you hard because if something happens, like you lose your job, you will need more money to cover yourself. If you are frugal, life won't hit you as hard because you will be able to cover the expenses. 3. Money Respects You Money has two personalities: savings and debt. Savings is the personality that respects you and will take care of you. Debt is the personality that does not respect you are will walk all over you. When you are frugal and conscious of your spending, money will naturally respect you more because you won't have debt. 4. Risks Become Less Risky You need money to take a risk in life, like quitting your job. When you are frugal and spend less, you naturally need less, so your money will last longer. The risk you take will be less risky because your money will protect you in the meantime. 5. Money Goes Further When you are frugal and are conscious of your life decisions, your money will go further. For example, if you go on a vacation for a week and stay at a resort and spend a lot of money, you might spend $2,000 in a week. However, if you go to a cheaper region of the world and stay at humble accommodations, that same $2,000 could last you for a month. Your money will allow you to do more things if you are frugal. 6. Life Becomes Easier Life will never be easy, but life doesn't need to be as difficult as we've made it out to be. Many problems in life come from worrying about money. When you are frugal, your life expenses are lower and naturally that takes away some stress that comes with money. 7. You Don't Have to Panic When it comes to money, there is an entire industry of people trying to profit by making you panic. People talk about recessions, market crashes, and other terrible financial events. However, no one knows what is actually going to happen and when you're frugal, life is cheaper and you don't have to worry as much because, like I mentioned before, life won't hit you as hard. You can block out the noise and not panic. 8. You Become an Individual What makes someone an individual does not come from what shoes or car they're driving, what makes someone an individual comes from their thoughts, beliefs, and experiences. When you're frugal and spend less money, you focus more internally for identity rather than externally. 9. It's the True Path to Contentment I don't believe you'll ever find contentment from material possessions. I think you can find enjoyment, but you will never be satisfied. A result of being frugal is becoming content because it forces you to be happy with what you already have. 10. You're Doing It For Yourself It seems like everyone is doing life for other people. Buying a new car or new watch to impress other people, but the reality is, is that nobody cares. You can waste so much money buying things to impress people, but no one really cares what you have. There is nothing wrong with having nice things, but there is something wrong with having nice things to impress other people. When you are frugal, you spend less because you are doing life for yourself, not other people.