My Four Rules to Living Frugal

As a proud frugal man it isn’t easy being me. Where others spend money to go out Saturday night I find myself at home watching TV (not on cable though) and relaxing. Through my experience I found the best way to being frugal is saying “No” to your wants and spending when the time is right. Most people imagine that being frugal requires hoarding your money in a hidden cave and keeping it there until your unfortunate demise. But to me being frugal is picking your needs over your wants and being financially smart. Here are my four rules to live by to encourage the frugal community.

#1 The 24-Hour Rule


Making a big purchase is a big decision. My definition of a big purchase is anything above $100 and your threshold may be higher or lower. No problem. But also be aware that buying is an emotional process that consumers go through and trust me because I was in sales for two years. Don’t believe me? Just think about the last time you made a big purchase and remember if you were happy or sad after the buying process.


The best way to take emotions out of the next big purchase is putting time in between. Before you make the purchase take a whole 24 hours or more to deliberate over the rationality of your situation. You may find out during that time the item is not worth the money or find a better deal. Either way, take time to consider all your options before swiping your card.

#2 A Sale is Still Spending Money


Black Friday is coming up and you can bet your bottom dollars that people will take “advantage” of all the sales. But to live a frugal life you have to see through the smokes and mirror. A “big sale” is a selling tactic used by stores to make an item seem more affordable to you. The reality to your wallet is money is still being spent no matter the amount of the sale.


If a TV normally sells at $2,000 is on sale for 50%, you do not save a whopping $1,000. On the contrary actually, you only spend $1,000 on a depreciating asset. Obey this rule to avoid the trickeries to catch you into spending your hard earned money.

#3 Cash Only Rule


When it came to eating out, my wife and I were avid spenders on the daily basis. We went to eat with friends, fast food and date nights of course. Needless to say at the end of the month our so-called “budget” was shot and I had a headache from wondering where all our money went.


Luckily we listened to Dave Ramsey and found out what a cash budget is. It is basically a budget where you operate on cash at all times, simply right! To me it was a sink or swim method and we learned to swim with flying colors. It helped this frugal man stick to a budget at all costs.

#4 Want vs. Need


As this paragraph is being written there are thousands of advertisements that are being planned just for little ole you. Advertisers are ahead of the game when it comes on finding out what you want and getting products in front of your eyes. It is imperative to know the difference between a want & a need. A want is any item that WON’T stop your daily life. A need is any item that WILL stop your daily life.


A vehicle is needed for transportation to work, grocery store and other average trips around town. You may however want a BMW Series 6 that can cost you $60,000. However your budget may not have that type of room for a large car payment every monthly. Therefore you need to shop smart and perhaps find a Honda Civic for half the price. Know how to distinguish between a want & need.

Good luck on your frugal journey. Remember these four rules to apply into your daily living and the results will show for themselves. Don’t forget to subscribe and follow us on social media!

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  1. Your 24hour rule is a great idea. Got to take the emotion out of purchases as they never make you as happy as you imagine. In fact, we generally have an overinflated sense of how awesome this product will make us feel. These grandiose ideas are rarely achievable and the product fails to meet those unrealistic expectations.

    One trick you can use is to turn the price of something into how much time of your life it took to earn it. Rather than saying this tv is $800, ask yourself whether it’s worth a week of your time working to buy this tv … or whether you can make do with the one you already have.

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