Can a frugal lifestyle make you happier?

The most common question I get about living a frugal lifestyle is, “does it actually make you happier?” People wonder how denying yourself free spending could lead to anything but misery.

The frugal lifestyle isn’t about self-denial and sacrifice, it’s about saving what can be saved and an awareness of your own spending habits.

I am no longer restricted by my income because I know how to spend and how to save. I actually feel more freedom and less stress, because finally I am able to meet my obligations and save for my future.

Your frugal lifestyle needs a reason

While a frugal lifestyle may eventually lead to less stress and more money, it’s never easy to change your spending habits. Try doing it without a reason and you’re likely to fall on old ways.

Why do you want to live the frugal lifestyle and live on less? Is it to retire early or buy your dream home? Maybe you’d like to travel more or maybe you just want to stop worrying about money.

Whatever your own personal catalyst, write it down. Keep pictures of your dream goals around the house or the office. You’ll also need to keep track of your progress to stay motivated.

It’s important to use actual expenses when you’re working through your budget. Use the past three months of bills so you have a good average of what you’re paying out each month.

The frugal lifestyle and keeping your budget

Now total all your earnings from all sources. After you subtract your earnings, this is the amount you have left over at the end of the month. Go over your budget and determine where you are willing to make sacrifices to get out of debt.

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