We are all users.
We are in love with consumption.
We deny it. We think the adjective frugal is a polished euphemism for cheap.
There is a difference.
Unfortunately, you have to be frugal first to understand the difference.
There are things you need and there are things you just want.
Desire is the magic currency that advertisers love to create out of thin air.
It’s one of the dark arts. (only half-joking)
Desire leads to consumption.
Consumption gives you an initial high, but it wears off sooner than you’d expect.
Just look back at any of your last few gadget buys – how long did the awesome last? :
A week?, 2 weeks?…
PROTIP : Seek out real lasting value, whenever you encounter the need to acquire something.
Used things often do the job just as well as brand new things.
NEW Cars are a notoriously terrible investment that come to mind.
PROTIP 2: When in doubt, invest in Experiences over ‘Stuff‘. Travelling to new places is always a good bet.
Being frugal doesn’t mean buying the cheapest item on sale.
Get the item that just does the job, without compromising on bare minimum quality requirements.
The real-world difference between that item and the fanciest brand is a single handful of percentage points.
Caveat: NEVER skimp on safety, especially when your loved ones are at stake.
Caveat 2: Don’t be a CHEAPBASTARD. Nobody likes you guys/girls either. :p
P.S: Being frugal in your 20′s makes you a ‘millionaire-next-door‘ sooner than your friends who partied through it.
Compound interest is sufficiently indistinguishable from magic to me, on most days.