Friends and family might poke fun at your frugal ways, but there are reasons you shouldn't be ashamed of frugality. Knowing how to stretch your pennies is an art that few people have mastered. Nowadays, most people are interested in upgrading their lifestyles and buying the newest gadgets. As a result, they fall deeper into debt. But your story is different. For that reason, here's why you shouldn't be ashamed of frugality.
As a frugal person, you spend your money wisely and you don't shop just because you can. Therefore, you might have fewer items in your house than someone else. This isn't necessarily a bad thing. In fact, this can reduce clutter in your home. And the less you have, the less you have to maintain.
People who always buy the newest and latest things are often slaves to their employer. Because of their spending habits, they have to earn a certain amount each year to maintain their lifestyle. Therefore, there isn't a lot of freedom or flexibility regarding their work. If you're frugal, however, you spend less money, so you need less money to get by. Because of your frugal ways, you might be able to work fewer hours each week without sacrificing the things you need.
Society may have you believe you need things to be happy. But the truth is, less is more. So what if you live in a smaller house or drive a regular car. If you have fewer bills than the average person, you'll also have fewer financial stresses.
Rather than let money control you, being frugal gives you control over your finances. You control how you choose to spend money, and how you don't. Also, you don't let friends and family dictate how you spend your dollars. When it comes to personal finances, you're a leader, not a follower.
Children often imitate the financial habits of their parents. For that matter, if you're a frugal person who spends money wisely, your children are likely to do the same as they become older. They might have more money in the bank than their peers, better credit, and they might enjoy freedom and flexibility with regards to their employment choices.
While your peers are spending their money living the good life, they probably have little in their savings accounts. Frugal habits can help you reach savings goals. Whether you want to build a 3 to 6-month cash cushion, save up for a house or plan better for retirement, spending less and saving more helps you reach these goals. Also, when you have a difficult time financially, the money in your bank account can help you survive tough times without ruining your credit or borrowing cash from family.
Working 40 hours or more a week takes the majority of your energy, and there might be little time left for exercise, spending time with family or enjoying me-time. But if you're frugal and you have the opportunity to work less, there's more time in your schedule to actually enjoy life. Imagine only having to work 25 hours a week, or having the flexibility to take time off to go on a vacation.
Being frugal has its benefits, and don't let others tell you differently. Are you ashamed of your frugality? If not, tell us why.