It seems like it’s a highly popular topic.
A quick check reveals that there are many websites on frugality.
Not only that, almost all financial gurus ask you to be frugal.
I am not against the idea of being frugal but here’s my own concept of frugality… but with a twist.
Let’s step back and think of it for a moment: what is money?
Money is the medium or exchange to get what you want.
As you can see, money is not at all important.
It’s what it can bring you IS.
If you are so thrifty that you deprive yourself of a quality life then frugality means nothing to you.
Yes you must save. But you shouldn’t save on things that can bring true happiness to you.
Instead you should splash on things that you really CARE about.
Let me give you some personal examples.
While I will try to save on clothing by buying them during sale, I still buy expensive gadgets and utensils that I love.
I bought a MacBook Pro in October 2010. (You would never go back to Windows after getting hooked on a Mac. Sorry I digress.)
And I bought a kitchen utensil (they call it the smallest kitchen) for $2,000. If you are at all interested to find out what it is, check out my review of this superb machine here.
I bought high quality latex mattresses.
I spend on high quality food produce (eg: organic vegetables, nuts and seeds).
I rather go traveling than spend on the latest tech gadgets.
As you can see, you should not sacrifice the quality of life in the name of frugality.
Again, I am not saying you should not be frugal but when it comes to things that you really love (and those that can enhance your quality of life), by all means get the highest quality products.
The way I see it is 100% frugal is pointless.
And occasional self indulgence is good.
Here’s a warning though: you only splash on things that you can afford to pay cash.
Otherwise, your life will not be of any quality if you accumulate tons of debts.
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