Why does the word frugal get such a bad rep? Maybe it’s because we associate frugal with being cheap and with having no fun. Luckily, that’s not the case. We can lead fabulous and fun-filled lives while being frugal. Here’s how…
Frugality means caring about value. Value meaning, what you get for a certain price and knowing what other things of value that price can get you as well. It’s about understanding the opportunity cost of our purchases. Sure, we all want to retire, debt-free, take that two week European vacation with our friends and eat out at expensive restaurants every night but that might not work with most of our budgets. Being frugal is about making choices to maximize the value, enjoyment and happiness you get for your money. You might have to cook and open a bottle of wine at home a couple nights instead of going out with friends, but it will be worth it when you pay down that credit card debt or are able to get that [fill in the blank] you’ve been wanting to save up for.
Next time you make a choice to save and opt for something important, remember you are being fabulously frugal! Get what you really want by knowing when to pass up what you kind of want in that moment.
Ashley Feinstein started The Fiscal Femme to share what she knows about personal finance and living well within one’s means. She is a certified life coach through the International Coach Federation (ICF) and the Institute for Professional Excellence in Coaching (IPEC) and specializes in personal finance and leadership coaching. She has worked in the financial services industry for 5 years and graduated with a BS in Finance from the Wharton School at the University of Pennsylvania. To learn more, visit her site, Knowing Your Worth or click here and fill out the form in the sidebar to meet with her for a free consultation!
Leave a Reply