Frugal living never means living cheap. A majority of people fear compromising their quality of life (level of comfort) when thinking of living frugally. In practical terms, you can feel rich while living frugally.
While millionaires don’t get rich by splurging on designer labels and lavish cars, frugality is a critical factor that helps them build wealth.
The core of frugal living is to be intentional about financial priorities —
- cutting back on unnecessary expenses
- saving money to achieve your financial goal — pay off debt, saving for early retirement, travel, etc
Being rich is closely connected with frugality — you’re wealthy because you have been frugal and by being frugal you’re en route to getting rich.
It not really much requires hard work; just being smart with your money and making small, gradual changes.
If you’re already a frugal living person you know the experience with frugality is enriching, freeing, and soothing in itself.
Still, if you’re just starting off the frugal path, here are ways that will make you feel rich while living frugally.
Before we begin, let’s take a look at how to become rich, or successful in any field of life?
To specialize in something we take courses or study the time-tested skills and techniques that have been followed by experts in the particular field. The exact steps that lead them to success.
Here we will study and repeat the traits of rich people and make changes as per what we can afford in our frugal lifestyle.
How living frugally can let you feel rich?
According to merriam-webster.com Rich defines — having abundant possessions and especially material wealth.
The feeling of richness is associated with peace, freedom, confidence, power, and most importantly abundance. The state of calmness and freedom can be achieved when you’re in control of money.
Being economical and vigilant about money, and the consumption of consumables is frugality.
A person committed to spending less, saving, and sticking to the budget simply can make fortune.
However, an individual, earning a prime grade income is enslaved to the paycheck and cannot be rich — if he spends above his means, fails to plan investments, and shortfalls retirement funds.
The competitive rush to become wealthy is stressful and dissatisfying. But with frugal living, based on lack of financial pressure, you’re relaxed and fulfilled in life.
Like building any habit, going frugal is going to seem a little difficult in the beginning yet rewarding in the end.
Similarly, building these habits and consistently following them will definitely take you from feeling like a rich to actually being rich.
9 LIFESTYLE CHANGES THAT CAN MAKE YOU FEEL RICH WHILE LIVING FRUGALLY
Organize your space:
Think of poverty and you have these dirty, cluttered, cram-full, overflowing spaces in your mind. And neat and orderly thoughts of a prosperous home.
Did you ever notice the most fabulous mansions of your favorite celebs or tycoons? Besides being stylish and luxurious, they’re super clean, minimal, and well-organized.
Many surveys have shown the direct effect of mess and clutter on our mental health.
People with unclean, cluttered houses report depression and fatigue compared to those with clean and neatened places.
Briefly, clutter and chaos are interlinked with a negative sense of emotions — stress, irritation, uncertainty, gloominess.
Contrarily, people with clean and orderly homes are restful, positive, and perky.
So the first — easiest, economical, and effective step in feeling rich while living frugally is to clean and organize your living space.
There’s a bunch of stuff that can give your home an elegant, new look.
- An accent wall
- a fresh coat of paint or wallpaper
- built-in bookshelves
- high-end fabrics for curtains/drapes and couch, or chairs
- updated window treatments
- doorway renewal
- statement lighting decor items — chandeliers, lamps, fixtures
- furniture and cabinets re-do — repainting and refreshing knobs and handle
- upgrading hardware
- solid colored or antique accessories
- statement art pieces.
- historical pieces
Little changes go a long way in making your home look expensive.
Routines Routines Routines:
Inaction, idleness, or lack of structure results in stress and anxiety. Being in charge of your behaviors gives you a sense of control over life.
Are your casual activities clear and certain? Do you know when will you have lunch and what time you’ll be going to bed?
Routines help you get more done. It is the significant reason why rich and successful folks are happy, healthy, and productive.
Rich and successful people know the key to making constructive implementation of your time is to add predictability to your day.
Routines eliminate uncertainties in your day and make you feel more relaxed and in control, truly important to make you feel rich.
With frugal living, setting up :
- a meal planning routine reduces grocery costs
- a good exercise and self-care routine saves up on medical bills
- a household routine economizes domestic bills.
Thus, allowing you more time, money, and saneness.
Master your time (the precious resource):
[click_to_tweet tweet=”‘ Life, if well lived, is long enough.’ — Seneca” quote=”‘Life, if well lived, is long enough.’ — Seneca”]
We all hope that we had a few extra hours in our day yet how do we use the time we’ve been endowed with? Instead of taking charge and starting living the life of our dream, we mess around wasting it on entertainment and dawdling.
Rich people, in no case, procrastinate by marathon watching a TV show or rather overextend themselves attempting to manage their entirety.
They set clear goals. Create schedules. And perfect-tune professional and family life.
Establishing goals and a good time management system is a foolproof way to master your time and consequently your money.
[click_to_tweet tweet=”‘ The mind is everything. What you think you become.’ — Buddha” quote=”‘The mind is everything. What you think you become.’ — Buddha”]
Your mindset can thoroughly influence your living. Stephen Covey came up with the phrase abundance mindset in his bestselling book The 7 Habits of Highly Effective People.
Here, we’ll use the term to draw inspiration to develop the feeling of abundance through stocking up on the essentials.
Stockpiling serves in numerous ways. In addition to saving money (since most people buy items on sale), it’s like creating a mini-mart to comfortably pull out the items from the ample stack.
A pretty convenient way to sense plenitude.
Create multiple income sources:
Aside from getting finances in place, entrepreneurs are well known for having multiple streams of income.
Additional income sources impart a safe future.
In addition to saving more money, making extra income through diverse sources is just as important to become financially stable.
- Real estate or good investments scheme
- Side hustles like buying and reselling something
- Starting a YouTube channel
- Starting a blog
- Developing an app
- Setting up online courses
- Renting out extra space
- Selling your own products online
To quote a few.
It is always a clever move to use your talents/skills to possess varied revenue streams than relying on a single venture.
The thriving community is famed for its values and life philosophies. The way we think leads us to where we arrive.
In this journey of life, rich and poor, both witness victories and downfalls. How to respond to it depends on each person’s life philosophy.
To control one’s process of thinking is a difficult job in all.
A life philosophy is nothing but discipline.
Build a good life philosophy to impact your life in a positive way in all that you do.
We all know the millionaires value their health and educate themselves concerning their physical and emotional wellbeing. Still, it is also true that they can afford to buy good food, have better access to medical aid, and are less stressed about their living.
When living frugally, you can improve dietary intake, have better insurance coverage, form good habits to enhance the quality of your life.
To become rich or frugal, for that matter, you want someone who can be your shining example, an influential person.
Author Rachel Wolchin said, “Surround yourself with people that reflect who you want to be and how you want to feel, energies are contagious.”
The biggest thing you can do to radically improve your finances is surround yourself with well-off.
Wealthy and successful have the power to broaden your philosophy.
As Buddha said, “The mind is everything. What you think you become.”
Engaging with a frugal friend may help you find out-of-the-box money-saving ideas, teach you how to make profits from unique income streams, maybe about a good investment plan, and so on.
On the other hand, acquaintance with a big spender would just encourage you not to give a crap about money.
Enjoy small luxuries:
Having great fun and entertainment is the key idea behind enjoying small luxuries.
The appealing part about small delights is they’re (mostly) low-cost and affordable. But the important part is — devoting time to stop and smell the roses.
Wanting to feel rich while living frugally, you have to bring in the fun elements.
For women, small luxuries can be as simple as receiving a bunch of fresh flowers, receiving breakfast or coffee in the bed, a movie date, a surprise takeaway, a fresh haircut, catching up with friends over lunch, a handwritten note/letter, and similar. These small things are enough to make all the differences
Be sure to relish little indulgences to boost yourself in a hectic life.
These few attainable lifestyle changes will make you feel rich while living frugally. Let me know your thoughts in the comment section below. Thank you so much for reading! Wishing you all the best in the world!