what is frugal living

What is Frugal Living? Here's the Explanation and How to Do It!

What is Frugal Living – What is frugal living? Maybe you've heard of it. But, don't really know, let alone apply frugal living in everyday life. Or, have you ever thought that frugal living has anything to do with frugal living? Has it ever crossed your mind to try frugal living?

Instead of spending money wisely, some people actually use the money they have for the things they want. In fact, they don't really need it. So, how to live frugally?

One solution to this problem is to apply frugal living. What is furgal living? Then, how is it implemented? Come on, see 7 ways to apply frugal living below!

Also Read: Tips to Avoid overthinking Financial Problem

What is Furgal Living

furgal living

Frugal living is a lifestyle that emphasizes a function rather than satisfaction. In other words, furgal living is a lifestyle that trains us to live frugally and prioritize needs over wants.

Examples of applying lifestyle furgal living is to reduce eating out or restaurants and choose to cook yourself at home. In this way, expenses for eating can be reduced and the desire to spend is reduced budget more for eating out can be replaced by eating at home which can be cheaper.

7 Ways to Apply Frugal Living

what is frugal living

1. Find the Cheapest Price

Many of us immediately buy goods or other necessities without reviewing how much the price should be. As a result, some of these goods are purchased at high prices.

Some items do have a standard price, but of course we can compare the price of an item with other items in different stores. Thus, we can get the desired item at the lowest price.

2. Collect Your Money

the application of frugal living with frugal living

How to apply frugal living the next is collecting money. Some people collect their money to make more money.

Indeed, it never hurts to set aside some money that is owned. That way, we, slowly, can multiply the wealth we have in the future.

3. Sort Your Daily Food

frugal living

We eat at least three times a day. Some people eat without taking into account the price or the money spent on one meal. In fact, they do not hesitate to squander their money just to fulfill their desires.

We recommend that we start by measuring how much the price or money is worth spending to meet our daily food needs. That way, we can use money efficiently and not excessively.

Also Read: Bad Habits in Managing Finances to Avoid!

4. Frugal Living, Save on Goods Usage!

save money with frugal lifestyle

The desire to buy new things is often the cause of the drain of our money. Clothes, bags, notebooks, and items that are not disposable at least we can use as much as possible. That way, we can save space at home, you know! At the same time avoid the items that accumulate.

Stop wasting money just to buy something that is not very significant function. Maximize the use of the item. As long as these items can still be used and function properly, why waste money and buy new items?

5. Record Your Expenses!

Recording expenses may be an activity that is underestimated. However, in fact, recording routine expenses can be one step to implement frugal living.

By recording routine expenses, we can find out how much maximum expenses are. In addition, we can also be more careful in spending the money we have.

Now, recording expenses is no longer manually, you know. You can take advantage of money management apps to make it easier to record your expenses. Guaranteed practical, deh!

6. Save Your Bills!

Today, most families cut off most of the monthly money they have to cover bills. Actually, there is nothing wrong with having bills, however, these bills should not make us extravagant so that we don't use money optimally.

We recommend that we re-select our needs, especially monthly bills, such as electricity and various other things. These steps can lead to a reduced monthly bill. Thus, of course, we can save more and adopt a lifestyle frugal.

7. Sell Unnecessary Items

frugal lifestyle

Perhaps, we unconsciously have piled up clothes that are not really needed. Or completely unused. Try to sell these clothes. In addition to increasing the space capacity, we can also take advantage of the money from the sale, you know.

Items that are not used, especially those that cause bills, should be sold to reduce the existing bills. With this step, of course we can save more and reduce monthly bills.

Also Read: How To Get Rid Of Consumptive Behavior: How, huh?

Those are 7 ways to apply frugal living. Maybe it looks simple. However, if you start to do it and be consistent in living it, you will definitely feel the benefits.

Other than the frugal living, You also need to control your finances through financial applications. One of them is Whiz. With various features in it, you are guaranteed to find it easier to control your finances.