The reason that most people adopt a frugal lifestyle is probably to improve their finances. Learning how to reduce your living costs can have a huge impact on your net worth. Given that money worries are the most common form of stress in modern society, improved lifestyle can have long lasting effects. You can pay off debt, afford new adventures, or maybe even retire early thanks to your frugal ways. However, saving money isn’t the only benefit to be had from taking this approach to spending. In fact, it can enhance your life in various other ways. Here are some of the additional rewards that you may not have previously considered. If this doesn’t give you an extra incentive to get started immediately, I don’t know what will.
Make Money
Frugal living isn’t only a great way to save money. It also gives you an opportunity to actively earn money too. Let me explain. When you learn to find enjoyment in not spending, you may end up finding new ways to spend you time. Some of these activities could provide you with side hustle income.
Many hobbies can easily transition into a money-making activities. I started crocheting to save money on a baby blanket for Trey, but ended up discovering a new hobby that is really relaxing and enjoyable. Now, I can create crocheted items to give as gifts or sell for money.
There is a sense of satisfaction that comes from creating something from scratch. Sewing or constructing things for your home can provide you with far greater quality items in comparison to manufactured ones. You can save money by using fabrics from around your house or go a bit fancier by purchasing these things called artistic fat quarters to transform your home or make crafts to gift or sell.
You could also start a blog on your favorite topic as a frugal hobby, with the possibility of making some extra money.
A major part of frugal living is learning to be resourceful. There are plenty of things in your home that you don’t need any more. You can drag that stuff to the curb, or find a way to reuse it in a different way. I’m on my third year of no shopping for new clothes, but still have some “new” things in my wardrobe thanks to the fun hobby of upcycling or refashioning clothing. I’ve even seen some people sell this type of clothing for a profit.
If you’re trying to improve your finances, it’s good to know that taking some effort to save money can actually end up putting extra cash in your pocket.
It’s Fun
Leading a financially conscious life is often a necessity. However, the list of added benefits goes on to include having some fun. I know, who would think that saving money is fun? I think we’re all looking for little challenges in our day-to-day lives. It can be fun to come up with new missions and goals when it comes to saving money. I know that as we have continued to pay off debt, it motivates us to keep finding new ways to outdo our prior savings accomplishments. It feels good to hit goals. A frugal lifestyle can truly be both financially and intrinsically rewarding.
Improve Your Health
People tend to focus a lot of attention on money. We get depressed because of debt or euphoric after going on shopping spree (although that “high” doesn’t last very long). A frugal lifestyle can help increase your net worth, while improving your health so there are more years for you to enjoy the fruit of your labors.
Many of the frugal living ideas fall into the realm of green living. Simple tasks like growing fruit and vegetables will help you live a more active lifestyle, while also improving your diet. Skipping on fast food to save money will be good for your health. A good example is quitting smoking due to the skyrocketing price of cigarettes. If you go really extreme with your frugal efforts, you might consider riding a bike or walking, instead of driving your car. This physical activity is great for you, and it saves money on gas.
Although it took a few years for us to fully acclimate to our new frugal lifestyle, it now feels like second nature instead of a sacrifice. Our priorities have shifted so that instead of buying stuff, we’re saving our money to be put towards a better purpose. You can use money to buy freedom. The added benefits of frugal living are just icing on the cake . . . homemade of course 😉
Watch for a new Monday Medley coming in a few days – updates on birthdays, big life events, the garden, our finances, vacation plans, free family summer activities, and more!
You are so right. Trying to come up with frugal alternatives can expand your mind and turn into money makers on their own. I’m on team walking + public transportation. It’s so good for my body. I’ve never worried about “getting my steps,” because it just happens in the natural course of my day.
ZJ Thorne recently posted…Net Worth Week 15 – Dental Pain Edition
We used to eat a lot of fast food. While we don’t really eat that well now (ex. organic, kale, etc.), I do feel healthier these days because of eating more homemade food.
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