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.
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.
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.
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.
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.