Living frugally doesn't mean feeling deprived

It's a common misconception that living frugally is stressful. I suppose many envision worrying about every nickel and dime spent and that concern over money causes stress. This isn't the case; at least, it isn't for most people who live frugally. Living a frugal lifestyle is more about simplifying and spending less to enjoy a simpler and less extravagant lifestyle.

Living frugally means that you can earn less, consume less and still enjoy life. If you can earn more money, or buy more things while still living a comfortable lifestyle, go for it. There is no need to deprive yourself (if you consider living frugally to be deprivation) if you can make ends meet, save and stay out of debt. If you have trouble with any or all of these, however, frugality can help you dig out of debt, save money, and avoid living paycheck to paycheck. It can give you stability. Even after your finances are in order, though, frugal living is beneficial.

So why would you want to continue living frugally when you don't have to? Well, there are several reasons. First, you'll be able to save more for your retirement. In a time where Social Security seems uncertain for people in our generation, you'll want to sock away as much as you can for your golden years. You'll also be able to build up a larger emergency fund which, as I've mentioned before, helps you avoid credit card and other forms of debt. If you think that being frugal means never indulging, that's also a misconception. Being frugal helps you indulge once in a while because, by being mindful of your spending, you know that you can afford the occasional indulgence like a new computer, tablet or other wish list item.

Once you've lived frugally, you'll likely never go back to your spendthrift ways entirely. Living simply allows you to work less and enjoy life more. This type of lifestyle is easy once you get the hang of it, so there's no need to throw away good habits. It offers peace of mind and confidence about your finances. If you think of it more as a lifestyle change than a financial diet, you'll stop feeling deprived.

Photo by Monkey Mash Button, Via Flickr.