Why Embrace Frugal Living
As someone who’s always been frugal, I can vouch for the benefits of living a frugal life. There are so many! For those who need a little more convincing, here are my top reasons to embrace frugality:
Frugality is the simplest, quickest way to improve your finances. When compared with increasing your income, living frugally is far easier. You don’t need special training, knowledge, or tools to save money. Simply pick a tip and get started TODAY!
It’s Easier Than Earning More
Being frugal can play a huge role in helping you reach financial freedom. How? It increases the gap between your income and expenses. This gap is your savings. When invested wisely, your savings are what will get you to financial freedom.
It’s Freeing
Some people think frugality is difficult and takes the fun out of life. They’re just doing it wrong! The truth is—living a frugal life can be completely painless.
It’s Painless (When Done Right)
#1
Revisit your recurring expenses to see if you can reduce, cut or optimize them. For example: do you still read that magazine? Could you get away with less mobile data? Revisit your expenses annually (at minimum) plus anytime your needs or life situation changes.
Regularly revisit recurring expense
#2
Every year or so, shop around and get two to three new quotes on your recurring expenses. Switching to a competitor or taking advantage of promotions could save you hundreds.
Shop around and get new quote
#3
Instead of leaving for a competitor, try negotiating with your biller. Call and ask to speak to the retention department. Mention how long you’ve been a customer, then negotiate for a discount or get them to meet (or beat) a competitor’s rate.
Ask for loyalty discount
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