Reasons to Live Frugally Even When You Don’t Have To5:33 AM
Another thing that is said is that people live a frugal lifestyle because they cannot afford any better. Not at all, there are actually millionaires who live a frugal lifestyle. Just because you watch what you spend doesn't mean you lack the financial means to spend more. A frugal lifestyle is a choice, not a compulsion. If this gets you interested, you can find out more on the topic of frugality at www.discountrue.com. Let’s talk about just why you should live frugally, even when you don’t really have to.
#1. Why would you give away your hard earned money? Whoever said that money doesn't grow on trees was right. Most of us work hard for every dollar, pound or euro we make, as very few people are born into wealth. Since you've struggled so hard to make your money, why would you part with it, without giving it a second thought?
#2. Spend more time with your children. A frugal lifestyle helps you spend more time at home, with your children, as it takes away the constant pressure on you to make a lot of money, which makes people work longer hours and neglect their families in the bargain. Frugal living allows you to watch your children grow up, read a good book with them, help them with their math, and work on their science and arts and crafts projects. What would you give to play baseball in the backyard with your son each evening? Also, since you’d be spending more time with your kids, you’ll be more involved in building their core values.
#3. No more debt. Nothing hurts your peace of mind more than debt – whether it’s a bank loan, a student loan, mortgage payment or a credit card debt. When you live a frugal lifestyle, you save a lot of money, which can be used to pay off existing debt and to avoid falling into any more debt in the future. Eventually, you’ll free yourself from the burden of debt.
#4. Frugal living gives you more options. When you live frugally, you will have much more money to spend, even if you don’t want to, and this gives you a lot more options. You may use this extra money in a way that’s beneficial to you, such as joining an elite skill development course that costs a lot of money. Or, donating to an aid agency fighting the Ebola outbreak in Africa. Buying a worthwhile gift for your partner on your anniversary, or an Apple iMac for your kid for her college work.
#5. Save for retirement. Well, you need to look at saving for retirement right now, even if you’re only in your twenties. Who knows, there may be no money left in Social Security in a couple of decades time, at the rate at which we’re going.
#6. Prepare better for an emergency. Frugal living means you will have a lot more cash on hand, which is so important in an emergency. It could be a medical emergency, something equally serious
– such as being laid off from a job, or a serious accident which means you won’t be able to work for
a while. A frugal lifestyle helps you deal better with such situations. It allows you to take a year off from work and learn a new skill, if needed.
#7. Leave a better planet for your kids. A frugal lifestyle is essentially an environmentally friendly one. If a majority of the people in the developed world begins leading a frugal lifestyle, then the global demand for fossil fuels would come down by quite a lot, which means there would be less money available for religious extremists to play with and terrorize the world. And yes, the threat of global warming would be reduced, significantly.
We hope we have convinced you just why you need to live frugally even if you don’t have to. Obviously, this list is by no means final. If another reason comes to your mind, please feel free to share in the comments section.
Disclaimer: This is a sponsored post