Frugality is definitely not for everyone. It can be a hard, but rewarding, path to walk. While the financial benefits of frugality (like being debt-free and saving for the future) are pretty obvious, there are some non-financial benefits that most people don’t actually consider.
Being frugal will reduce your stress
Frugal living means living without the money-related stress that plagues more than 70% of Americans. Sure, you’ll likely still worry about some things, but imagine not having to worry about your debt or knowing that you’ve got enough savings that you can manage just fine if something unexpectedly breaks. Imagine having a secure nest egg for retirement, and being able to stick to a monthly budget. Sound like a dream? It’s totally attainable if you’re frugal.
Being frugal will give you more free time
Keeping up with the Joneses can be awfully tiring and it takes up a lot of time. Being frugal means less worry about what the current trend is, and less time trying to figure out how to make ends meet as you go on expensive trips that you can only barely afford. Instead, you live within your means and have more time for the things that really matter to you—be it family, spending time on a hobby, learning something new, or simply relaxing and enjoying life.
Being frugal is good for the environment
Part of being frugal is spending less money and making the best with what you have. This means repurposing and upcycling items on occasion, but it also means buying higher quality items that will last longer. Both tactics are great for the environment as they make less waste and lead to less pollution in the long run.
Being frugal is healthier
Prepackaged foods are expensive, so if you’re really interested in being frugal, then that probably means that you’re buying and making your own food from scratch more often. This is actually not only cheaper, but better for you as prepackaged foods tend to have more preservatives and chemicals in them. Additionally, frugal people usually are more active which also has health benefits.
Being frugal gives you perspective
Being able to not worry about finances, understanding living within your means, and valuing the dollar correctly all means that frugal people have a better perspective on wealth and life. This often means that, despite what you might think, frugal people are actually among the most generous people there are, as they better understand how the world works.
So, why are you frugal? What benefits have you noticed? Tell me in the comment section below!