Abundance and frugality seem like two different ideas. A lot of people will find it impossible to find abundance when they are living this type of life. But if you understand what a frugal lifestyle is really all about, you will realize just how frugality can be far from being restrictive.
People think that being frugal means you need to stop buying things that you do not need. While that is true, the more accurate description is to buy things in moderation so you do not compromise the more important expenses that you need to spend on. Taking frugality and implementing it in every aspect of your financial life could mean a lower monetary expenditure but that does not mean you live less. What you have to understand is that a fruitful and fulfilling life should not depend on what you can and cannot buy.
Living a frugal life will take some getting used to – especially when we grew up in a consumerist society. We got used to buying things just to depict our financial success. That is not really the best way to live our lives. If you really want to feel abundant, you need to focus on things that go beyond what your money can buy you.
How can you be frugal and abundant at the same time
One thing’s for sure, you need to change your perspective if you really want to feel abundant while living a frugal way of life.
Abundance is simply defined as having more than what you need to survive. We all associate it with what money can buy. It can be cars, a home, clothes and other things that will make our lives more comfortable. This is true but our error lies in putting a price tag on these things. You need a car but you don’t need a luxury vehicle or a sports car. You need a home but you don’t need a million dollar 7 bedroom home if there is only 3 of you. You need clothing but you don’t need a closet full of designer outfits. What you need is a couple of pieces that you can mix and match. That is how frugality will get you to think..
Here are a couple of real descriptions for a frugal person.
They know how to stretch the value of their money so they get as much as what they need without spending too much of it.
They understand the importance of smart spending even when they can afford it.
They know how to substitute expensive expenses with more economical ones.
They prefer to do things on their own instead of paying someone else to do it for them.
They do not need to keep up with the Joneses just to feel like they are as successful as they are.
They recognize the value of things that money cannot buy and they concentrate on getting these.
The list can go longer than this but you should get the point. To help you accomplish a frugal lifestyle, you need to live on a budget. This tool will help you identify what you can afford to spend on and what you cannot. It helps you identify what expenses you need to remove and exchange for more cost efficient ones.
Budgeting is not really difficult because there are several templates online that can help out. National Debt Relief has a budget plan worksheet that you can use. There are also other budgeting templates from About.com or the website of finance expert Dave Ramsey.
How your attitude is important in a frugal lifestyle
In implementing frugality in your life, we have mentioned that you need to change your perspective. This is because you need to change your attitude about living a frugal life. While a frugal budget can help you out, it will be very difficult to implement it if you do not have the right attitude towards it.
Here are some traits that you need to have to ensure that your frugal lifestyle will not feel like a burden.
Be goal driven. Frugality is not just something that you adapt for nothing. It has to stem from a past experience and a need to achieve something. It can be getting rid of all your debts and building up your emergency fund. You need a goal so all your financial decisions are aligned with it.
Be optimistic. Think about it this way. If you want to buy a new phone even if your old one is still working perfectly for your needs, frugality will dictate that you pass off the purchase. To be optimistic about it is to think about the savings that you will get that will help you achieve your financial goals – instead of focusing on what you are keeping yourself from buying.
Be content with non-material things. To help make frugality easier to understand, you need to develop the attitude that will make you content with what you have that money cannot buy. These can include your family, friends, your skills and other talents. These can all help you live a fruitful and high quality life if you only understand their real worth.
In most cases, you need to let go of your expensive entertainment expenses if you really want to live a frugal life. This is where your creativity will play a huge role. There are many ways that you can enjoy your life without spending a lot. You can feel just as tranquil relaxing in your community park and you do not need to travel far for it. Watching rental movies will give you the same satisfaction as watching it in theaters.
The whole bottom line is this: by using your money wisely, you will feel abundant because you should have enough savings to be able to fund the things that you have to purchase. You can meet your needs without putting yourself in debt for it. Also, material things that you need to purchase will not be the basis of your happiness. You will get the same amount of satisfaction by not buying things as long as you know the more cost efficient alternative. The financial security and stability should be enough to make you feel very abundant – despite losing the things that you used to really enjoy in life.