I’ve noticed that the habits of frugal people tend to be universal. While not every frugal person in the world does the things I’ve listed below, there are some common threads like not being wasteful and not being materialistic. There are a lot of people that associates being frugal with being cheap… and that is wrong!
Being cheap is about spending less even if it sacrifices quality, value and time in order to cash in on some short-term savings. Cheap people settle, because to them money spent is money gone.
A frugal person thinks ahead; the frugal person plans, budgets and creates a road map to your destination. Being frugal is about prioritizing your spending so that you can have more of the things you really care about.
Frugal people budget and know where their money is going at all times.
Frugal people don’t splurge. They are always taking the future into account. If you use all that you have now, you will not have any reserves for later.
When frugal people take vacations, they believe in shopping around for the best bargains.
Frugal people know the value of a dollar better than most. They don’t mind on looking for a good deal, they will spend time shopping around.
Frugal people are not “cheap.” Being frugal often goes hand in hand with generosity. Because they don’t spend a lot of money on themselves, they aren’t bothered by parting with their money to help others.
Frugal people buy used. Rarely will they pay full price for anything! Especially big-ticket items (cars).
Frugal people rarely upgrade their lives, they see no reason to inflate their lifestyles.
Frugal people don’t feel pressured to send their children to expensive private schools.
Frugal people couldn’t care less about the latest fads and trends.
As I said before, this list is not complete. But, if you want to be frugal, this list is a great place to start!
If you like this article you will LOVE this one: Frugal vs Cheap | There is a Difference