Today, I want to talk about Frugality. I know it’s a topic I keep coming back to but it really is that complex!
According to the dictionary, someone frugal is economical in use or expenditure.
As I was researching to write this, and to write a podcast episode (you can check it out here!), I cringed! I remember many years ago, ten, maybe even 1twelve years ago, I came across the term for the first time. I was all excited and decided I wanted to be frugal. I researched it for weeks and in the end I decided I could never be frugal! (that was right before I had no choice but become extremely frugal! but you know all about my story already!)
I remember thinking, at the time, that frugal people were cheapskates! And, sure enough, the questions that come up online when you search the topic can be pretty harsh! No, I don’t believe that frugal people are cheapskates but I do believe that extreme frugality can lead to it! Let me explain. Frugality is a good thing. It’s a habit we should all create because it can help us get ahead financially. It also makes us be more intentional with our spending. Living below our means should be one of our core rules, in our day to day.
No need to get on the defensive here, I like nice things and expensive things, but does that mean that I have to make choices? Absolutely yes! I don’t consider myself a frugal person because I don’t think I’m that intentional with my spending or my saving for that matter! But I believe it’s possible to reach a middle ground.
As in extreme spending or extreme saving, extreme frugality is not a good thing. It is actually considered a disease when “Frugality is a symptom of obsessive compulsive personality disorder (OCPD), when a person “adopts a miserly spending style toward both self and others” – notes the American Psychiatric Association.
Like in everything in life, balance is the key! We must strive to reach that point where we are comfortable with what we spend and what we save and how we do all the things. Like I said, I’m not a frugal person, I don’t save the potato peels (that’s in the podcast!), however, I’m trying to find my middle ground! That point where I’m comfortable with what I’m doing in and with my life.
How about you? Are you frugal? Could you be? Are you going to try it? Would you like to know more about how to become frugal? If so, leave me a message or send me an email and I’ll get on it!
S – The Sparkling Budgeteer
