Why would anyone choose to live frugally when you can choose to live in the moment and have anything that comes your way? All you need to do is keep up with the payments. So why deny yourself?
#1 Reason - Freedom From Debt
As long as you can afford the payments, what's the problem?
The problem lies in when a hiccup occurs in life, and it will. That hiccup can come in the form of an unexpected layoff, pay decrease, or a major life change, such as the birth of a child, loss of a loved one, etc.
What happens when you can no longer make the payments? Stress occurs.
Back when the crash came on Wall Street which started the Great Depression, many men ended their lives because they could not handle the stress. While this is an extreme example, it shows how much it can affect a person. Stress can cause problems in your marriage, to your physical and mental health. There is a freedom that is felt when there is no debt and you have an emergency fund. A hiccup can happen and you are able to survive through it. While there will be some stress, it will not be nearly so great.
Reason #2 - Great Gain
Living frugally allows you to succeed in other areas of your life. Once you are debt free, it's wise to continue frugal living. This doesn't mean being a miser, Frugal according to dictionary.com means: economical in use or expenditure; prudently saving or sparing; not wasteful, i.e. a frugal manager. None of this means living on nothing so you can save, save, save with no end goal except having a pile of money. It means you are not wasteful and that it would not be wise to blow every bit of income, even if you are debt free. Yes, you do want to enjoy what's there, you only have one chance on this earth, so by all means spend a bit more, but also save as you go along for other more responsible areas such as retirement.
Reason #3 - Contentment
By living frugally we can learn self-control. We don't buy it if it isn't in the budget. We delay pleasure at times to be responsible and take care of our family and finances better. The by-product of all of this is contentment. We realize that we have all that we need and that God provides for our needs.
There are many more reasons for frugal living than I have listed here. These are just 3 great reasons I give you to ponder. So many times we feel once we're debt free, frugal living is done. It's more than that, it's a lifetime journey. True frugal living isn't just about how to spend the least amount possible, but to use the resources God has given us to the best of our abilities. It also allows us to give more to those less fortunate.
Let's Hear from You!
What are your main reasons for living frugally. Are you still trying to become debt free or get through a tough spot in your life? Have you passed that and now you want to be the best manager of God's resources?
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Living a Frugal life Works For Me and is truly a Finer Thing for which I'm thankful for at Graituesday! Here's another slip for the Tip Jar. This post is linked to 30 Minute Blog Challenge, Thrifty Thursday, Frugal Fridays, Thrifty Tip Tuesday and Tightwad Tuesday.