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To me frugal doesn't have a concrete definition, it just means being smart with your money. You don't have to give up on anything you want or wipe your butt with newspapers to save on toilet paper, because that is just ridiculous. Frugality is being smart with your money. Researching purchases, understanding finance and it's costs. Keeping a rainy day fund, shopping for the best deal and by best deal I don't mean the cheapest, I mean the highest quality acceptable at the lowest price. Approaching large purchases like cars and homes with an eye towards getting what you NEED at a price you can afford. I could go on and on, but I think you get the point.
Frugal living to me is living within my means, maybe a little below. Looking for bargains at the stores for my once weekly shopping trip. Using coupons for things I always buy. Re-using things, recycling. Making my own cleaners. Mending clothes instead of buying lots of new ones. Buying used books and trading books with others. Walking or biking wherever I can instead of wasting gas and driving 5 minutes down the street.
Preparing my own meals from scratch. And the list goes on.
I only buy things I really need and even then most of the time I change my mind and walk away. If after the next few days I still think that I need it, I will consider buying it.
I try to buy the best quality for my budget, because I believe that if “you buy cheap, you buy twice”. Every month my total spending is less than a half or my paycheck and I save the rest. I eat well, but I cook. I have nice wardrobe but I do wash some clothes by hand and never use a dryer ( dryers damage fabrics). I take care of my stuff and seldom replace them with a newer model or style. I use coupons or rebates if they are available for an item I want to buy, but I would not buy junk only because is on sale.
I try to live green and I recycle.
Using your money wisely.
Example: I needed a washer/dryer for my new home... instead of going "inexpenseive" i bought high quality because this was a purchase that would increase the life of my clothing, I got the HE appliances that would use less water and electricy and I knew this would be a purchase that i would have for 10+ years. I just did the same for my new refrigerator - plus I read the consumer reports, do my research and verify the product I'm spending MORE money on is really worth it.
Using your money wisely.
Example: I needed a washer/dryer for my new home... instead of going "inexpenseive" i bought high quality because this was a purchase that would increase the life of my clothing, I got the HE appliances that would use less water and electricy and I knew this would be a purchase that i would have for 10+ years. I just did the same for my new refrigerator - plus I read the consumer reports, do my research and verify the product I'm spending MORE money on is really worth it.
I agree... in a long shot this is going to be frugal. Because frugal not necessary mean cheap. Frugal is also "to last longer, because is a top quality".
When my husband and I agreed to marry, he wanted to go and pick out an engagement ring. I told him that I did not want a ring, we needed to use the money to pay off debt that we both had. Naturally, he thought he had died and gone to heaven to get such a lovely and financially sensible woman to agree to marry him (LOL).
I extremely agree with this. It just about kills me when I hear how much people spend on a ring and their weddings!
I think frugal living is using money thoughtfully and wisely to ensure to lead a life without money stress.
Frugal is no mortgage or car payment, all bills paid off monthly and spending only about 25-30% of our net income per month for necessities : utilities, food, gas, cable/internet, phone and the annual items like our taxes and insurance. The rest goes into savings and investments. (We own our house and our car which is 5 years old). Spending is simple: if we really don't need it, we don't buy it.
It is simply common sense spending that my parents and grandparents ( all living thru the Depression ) taught me.
Frugal is no mortgage or car payment, all bills paid off monthly and spending only about 25-30% of our net income per month for necessities : utilities, food, gas, cable/internet, phone and the annual items like our taxes and insurance. The rest goes into savings and investments. (We own our house and our car which is 5 years old). Spending is simple: if we really don't need it, we don't buy it.
I think you're trying too hard to put definitive lines on frugailty. Is having a mortgage bad if you have multiple properties that are bringing in revenue? Is a car payment un-frugal if it results in a significant tax write-off? Is spending 25-30% on necessities frugal or insanity if your income is $12,000/year? How about $100,000,000/year?
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