Frugality Doesn’t Have to Be Painful

With our current state of consumerism, social media, constant advertisements, and availability of credit cards, it is no wonder many people feel like the only way to live is within debt. That isn’t the case, though. It is possible to live a happy and fulfilling life outside of debt. It does require being smart with your money and living within your means. Living a frugal life doesn’t mean you have to miss out on life’s greatest pleasures. It usually means you actually get to participate them. Being more intentional with your money helps you be more intentional in other aspects of your life, as well.

Financing a Short-Term Lifestyle

Many people get into debt because of their focus in on short-term pleasures. They want the nicest car, the biggest house, and the coolest toys. The thrill of these purchases wears off fast. That car quickly loses its new appeal. That big house is hard to maintain. And, you lose interest in the cool toys. These purchases usually leave you with nothing real but debt.

It is possible to a very fulfilling, rich life without getting into debt. Frugality gets a bad rap. Living within your means shouldn’t be frowned upon. It is actually a happier life than accruing a bunch of debt and living in stress while you try to work enough to pay all your bills. Start by refraining from buying something you won’t remember in a week. This doesn’t include basic food, clothing, and shelter needs.

Take the time to review your spending. Do this by looking over past credit card and bank statements or tracking your spending for a month. Are you spending an inordinate amount of money on convenience foods? Trying planning most of your meals ahead of time. Eating freshly prepared meals is rewarding in itself and much better for you than fast food. The library is a great resource to have in your frugal arsenal. You can borrow movies and books of all kinds. You can test out new genres without having to invest money you don’t have. Many libraries act as a hub for the community. When you stop in to borrow a book or DVD, you can catch up on all the happenings around town.

Strong Financial Character Traits

If you have fallen into the trap of seeking short-term thrills, don’t worry, there is a way out. It requires changing some of your old habits. It requires recognizing what actually adds value to life. You can even buy a house with bad credit, but it does require some work. Certain people are more prone to get out of debt than others. They have certain character traits that help them keep their eye on the prize. If you don’t have these traits naturally, you can cultivate them over time and through practice.

•       They make wise decisions. Debt is not a tool. It is not an essential aspect of everyday life. This means taking the time to confront any debt you have gotten yourself into. Get rid of it as quickly as you can and focus on making wiser money decisions in the future.
•       They practice patience. Be willing to wait, work, and save. Resist the urge to buy something in the moment. A lot of times if you step back, you realize the object is not worth the cost. If it is, it is worth being patient and working for. This means saving the cash to pay for it.
•       They have confidence in their financial plan. When you take the time to look at your finances and make a plan for getting out of and staying out of debt, it is important to believe in that plan above all else. Have the confidence that financial freedom will be worth any short-term sacrifices.
•       They have a goal. Remind yourself of the goals you have set for yourself and the rewards you will reap by reaching them. Sometimes the reward is pride and freedom. It will be worth it in the end. Make a plan to reach that goal with check points along the way.
•       They realize materialistic things lack real value. Think back to some of your most memorable moments. What made them special? I bet it wasn’t “stuff.” Many of our best memories involve people and experiences. That is where you should invest your time and money. Instead of buying a big screen television you can’t afford, save the money and spend the time you would have in front of that nice new tv with someone special instead.
•       They are willing to make sacrifices. The funny thing about most of these sacrifices is that they end up not really mattering. You really don’t need the premium cable package. Enjoy the outdoors instead, read a book, or borrow a movie or series from the library. Budget cuts are temporary. If you find that the things you cut actually brought you joy, you can reinstate them once you have reached your financial goals.
•       They are responsible. A responsible person knows where their priorities lie. Paying bills is more important than going to the bar every night. They can be depended. They realize that they are responsible for every decision they make in their lives.

Having a strong financial character encourages good life character traits as well. By changing your habits, you discover what is important in your life. Maybe become financially stable requires sacrifice, but maybe the things you were investing in weren’t worth it anyway.

Living a more frugal lifestyle doesn’t mean you have to live an unhappy existence void of all pleasure. Many times, the things that get a person into debt are short-term pleasures. Take stock of your financial situation and taking control of your life, shifts your focus to what is actually important. Typically, that is not a nice new car or a huge house. It is the people you spend time with and the moments that make up a good life. When you realize that, your journey to financial freedom will seem less like a sacrifice. Get involved in your community. Visit a library. There are many things to take up your time that does not require money.