What is Frugalism?

Frugalism

Here at Money Save is Money Earned our focus is to help you understand financial systems and provide you with tips and tricks to save big money. A big part of our philosophy for saving big money revolves around this idea of shifting your mindset from consumerism to frugalism.

What Frugalism Isn’t

If you tell someone you’re frugal, they almost always automatically assume you’re cheap. Sure, cheap does mean costing less, but it also means of decreased value. That is the key difference between frugalism and being cheap.

What Frugalism REALLY Is

Frugalism is a general outlook on life, as well as a way of thinking and acting. The dictionary definition of frugalism is the act of being frugal. On the other hand, the definition of frugal is economical in use or expenditure; prudently saving or sparing; not wasteful.

Understanding How Money-Related Systems Work

Credit cards, student loans, payday loans, and other debt-causing systems feed off consumerism. These institutions make money when you have debt, which is why they encourage it. People are continually taken by creditors who “make it work” for them, all the while not realizing that they’re walking into a trap.

Using That Knowledge to Save Money

Knowledge is power, but power is useless unless you do something with it. Once you have the knowledge, you need to put that knowledge to good use and begin working the system to save money.

Getting Maximum Value and Usage Out of the Purchases You do Make

Once you have an understanding of how money-related systems work, it becomes easier to save money through buying items that get you maximum value and usage, rather than making decisions based on social status or other factors.

The Bonus Key: Letting Go of Social Status and Image

The above statement brings us to our bonus 4th key. This key is the secret to opening the Pandora’s Box of frugalism. It’s like a cheat that unlocks secret levels to the game of frugalism.

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