In this day and age where frugality is almost anything but a choice, what are the myths that underlie this way of living? And more importantly what are the actually truths of living frugally?
1. People are frugal because they have no choice. This can be true for some, but most have just prioritized their spending. If you think of everything you buy in terms of how much of your time you’ve sold for it, it can help retrain your thinking.
2. Frugal, tightwad, and cheap are all interchangeable. This is just simply a lie. Someone who is cheap often opts for the cheapest option despite quality. A tightwad hates to spend money and when it’s inevitable will still try to find a way to avoid it. Frugal folks will wait for the best deals and sales before buying something. They stop impulse buying, they do their research and they wait until the best possible moment to buy.
3. Frugality is about self sacrifice and denial. This simple isn’t true. Someone who lives frugally don’t feel denied because they have their spending prioritized. The real self sacrifice for someone who enjoys living frugally would be if they started living above their means.
4. Frugal people pinch every penny and clip coupons all day. Well sure, the super committed ones do, but who are we to judge? I have a friend who is a couponer and she loves it. She views it as a game “how much can i save this time?” or “how many items can I get for under $100?” I spend a lot of time playing piano and crafting, they spend a lot of time couponing. There are several levels to frugal living and as long as you’re living in one that’s enjoyable to you, that’s all that matters.
5. Frugality is impossible this day and age. While it is a bit harder when you live in certain areas to live self sufficiently , it’s not impossible. In a nation of excess there are more options for frugality and ingenuity is less about opportunity and more about motivation and ingenuity
6. Frugal people don’t care about fashion or trends. What a mean thing to say! Not all frugal people sit around in their hand-me-down acid wash jeans and mom pants. I will tell you that I have several designer bags but wait until I can get them at a really good price before I buy. I just have to know where to look. Most of the items in my home are from yard sales, thrift stores and discount racks. It may take patience and frequent checking but you can find a lot of name brand things if you hit the right good-will in the right areas.
7. Frugality is too hard. Well this may not be a myth, it is easy to conquer. Like anything, practice makes perfect. Retraining your brain to think and act frugally simply takes patience and practice. Before you know it, you’ll be doing it without much though and enjoying all the extra cash in your account.
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