Living a Quality Frugal Life

by David Bakke

frugal life, save moneyI have seen it all over the place lately-TV, radio, the internet, etc. You need to start living a “frugal” life. Clipping coupons, cutting out excess from your budget, saving for the future, and so on and so on.

And honestly, it is all great advice. However, for those of us who might be a little newer on the scene to exactly what a “frugal” life is, I want to pose on question: “How much is enough?”

What I mean by that is, how frugal is frugal enough? You can find different ways to save money every single day in every single way. How much of it do you do? How far do you go?
The reason that I ask this question is that I think that you need to maintain some sort of balance in your life. No matter how far in debt you may be or how much of an overhaul your spending habits may need, I think it is possible to take this concept too far.

I have been living “frugally” for many years now. However, I firmly believe that it is a “quality” frugal life. I do not consider myself to be “cheap” and I am not awake till 4:00 in the morning trying to figure out how to save 10 cents on a gallon of milk.

I have tempered my frugality with a few ground rules that may prove to be useful, should you ever decide to go “frugal”.

1) Adopt it and forget it. The biggest and best ways that I try to save money in my life is by adopting a habit or a system that may require some work or research on the front end, but once adopted into my life, takes little time at all. Revamping where and how you grocery shop, for one. I had to research a little in the beginning where to get the best deals-now it takes me no longer than it did before to pick up the groceries. Running my dishwasher and washer/dryer at nite. I had to “remember” to do this in the beginning, now it is just a habit.

2) The Time Factor. I personally use a theory that if I can’t “save” or “generate” enough money in relation to the time it takes out of my life, relative to my salary at my regular job, then to me, it’s not worth doing. You might as well just work a second job then. If I can’t generate somewhere in the area of $15-20 of revenue or savings for one hour’s worth of work, I usually don’t do it.

I could go on, but I think you get the point. If you spend your whole life or all of your spare time saving pennies here and there, what kind of life will you be leading and how could you possible enjoy your savings?

Living frugally is important, especially in this day and age, however living a “quality” frugal life should be your ultimate goal.

To learn more about this and other personal economy topics, check out my recently published book “Don’t Be A Mule: A Common-sense Guide to Saving More, Spending Less, and Generating Extra Income in Your Everyday Life.”

Comments on this entry are closed.

Previous post:

Next post: