Why I am so frugal: Frugal Wealth | Frugal & Happy

I am who I am. Why I love being frugal. Like many of us, I tend to be frugal yet generous with others. I dichotomy that I find beautiful.

=== Azul's "Scammer" Warning & Disclaimers (PLEASE READ!! ===
Be careful of scammers. In the comments, I will NEVER suggest you contact me, offer any investment products, recommend an adviser or anything similar. Some scammers ask for investment help in the comments and later, other commenters post how "great that idea/investment/person is" in the replies. This is a scam. Do not fall for it.

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MY VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer):

The decisions on how to invest, when to retire and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the decision that is right for you and your family.

This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor may NOT be suitable for all investors.

This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

I don't believe in "get rich" programs. Rather, I believe in doing your homework and working with professionals who are a fiduciary to you 100% of the time.

[davidleong]

Since I’m Frugal on myself, It gives me margin to be able to practice generosity to others! This brings me great joy!

[briandillard]

My parents taught me to be frugal. Thank goodness. I was divorced in my mid 30s. I remarried a few years later, and I’m debt free before age 50. Having the right spouse is everything.

[chriswalter]

Azul Wells' insights have been a game-changer for me! His practical approach to financial management has empowered me to take control of my money and work towards a debt-free life and a fulfilled retirement.

[mikeykpe]

From Australia. Great life story mate. I've been divorced and lost more than 75% at 50 years of age. I have a mortgage again and it's a challenge but money doesn't buy happiness but I'm happy. I love setting goals and I plan to own my home before 60. I act slow and steady and never give up and never envy what others have. Cheers

[RM-bxzt]

Frugality is not being cheap, it is the wise use of one's money and resources.

[Art]

Just found your channel. I've always tried to live on half of my takes home pay and keep an excel spreadsheet of my take home/outgoing with formulae that calculate the percentages for me.
After being a stay-at-home mom until my late 30's, my first job earned me $16, 000. I saved $5000 that first year: slum apartment, beater car cut my own hair, etc.
In succeeding years I managed to save as much as 52% of take home. My co-workers used to tease me about not joining them for lunch or drinks, and were shocked when I splurged for a 2-week trip to China.
I always had my mortgage and car payments paid several months ahead, just in case of job loss.
Recently retired. No mortgage, no debt of any kind. Living solely on social security quite comfortably because its still more than 50% of my final salary. Also manage to put money into savings and give generously to charities.
Frugality gives me a natural high because I regard it as a game.

[cfmgomes]

"trying to be debt free by the time you are 50 I think it is really a good goal" Great advice!

[mindfulnessretreat]

I am frugal because spending money makes me anxious. Having a no debt and a lot of money in my accounts is like a security blanket. Also it is like a game for me to find the most cost effective way to manage and complete a task. We grew up without much money and we had find creative ways to get things and do activities. I don't know how people feel comfortable having consumer debt. The only debt I had was a mortgage. Even with that I had a tenant and that paid for my mortgage. I am so frugal I made my house pay for itself. I raised my son and I was not frugal with my family.

[pensacola]

Frugal does not mean cheap. It just means being mindful with your money, and getting the best value.
You will get a lot more out of life if you get the most out of your money. Don't be wasteful...

[marygoodsell]

I love your videos and I loved what you said, one house, one spouse. This is so true! My older husband has had dementia for years and in the early years I was very unhappy and also in poor shape financially. But I stuck with it, I can say that I am very focused, I am the best caregiver any one could have, and I am super rewarded! And your advise is very helpful! Thank you!

[daveschmarder-]

A friend told me that someone told him that he thought I was poor as a church mouse. I just smiled and thought, SUCCESS!

[GraceMontenegro-nyov]

Hi Mr. Azul, I am happy that I found your channel. I am Mexican and frugality is not something that is practiced frequently enough in my culture. I have practiced frugality for about 10 years now and I love it. It's given my life a whole different direction. My goal is to be a better administrator of what God has given me and my family so that I can teach my children the same lesson and help the those who are not so fortunate. Thanks for making these types of videos. God bless you.

[ronandersen]

Azul, I earned my PPL at 62 and now I’m working on getting my Instrument rating, I’ll be 65 in 3 months! Self employed for 39 years, love your channel and your life’s philosophies! Safe flying!!

[lauraholland]

I agree it's a mindset- I see it as an exciting challenge, not a sacrifice.

[stevethomas]

One of my best buds ran away from home around 30 years ago. Bought a sailboat and headed for the Carribean, ended up on St John. This guy can fix/do about anything, plumber/home builder. Found a salvageable 56' all wooden sailboat. Refurbished it and sailed it to Europe. He and his wife worked for nine months and sailed for three, did that for ten years. They would put the boat up in whatever country they were in and repeat. His philosophy was "I won't be able to do this when I'm older = I'll work a few more years". Got to join them in the Greek Iles and later in Sicily, incredible memories. Doing a 14 day river trip through the Grand Canyon trip with him next year. Stretch run

[robsemeniuk]

Azul, you have a special talent of blending financial and philosophical advice. I had a little chuckle as I am a car guy. When you said your smart purchase of reliable transportation was a 2006 mini Cooper …you have been lucky. I would’ve bet you were going to say Camry or accord. your message of being frugal towards material possessions is a good one. Our society is so conditioned to buy more. These are often empty achievements with fleeting sense of reward. Wise message of spending your money on what truly brings you joy.

[trentmeidinger]

Great insights! My dad was very frugal and would say, “Never spend more than you earn” and “A fool and his money are soon parted.” Drove the family crazy but he was financially sound. However, he never conveyed peace about money; he compared to others, fretted about potential job loss (never happened) and often commented how he could “lose it all.” Now I am 52 and have no debt yet have no peace of mind about it. I continue to worry just as I did throughout the years leading up to this point in life. Money is more emotionally complicated than I realized.

[roselynthompson]

Hey
From the highlands of Scotland here. I have just found you. You are talking a lot of sense. We are frugally minded also and cars mean transport from A to B and enable us to explore. We live in the country so it is a necessity. Dear old Volvo is gamely plodding on for us. 4WD of course. We don’t want boats or fancy cars but you are right about the experiences and sucking in the fresh air and beauty around us and finding beauty and interesting people in other countries. We are from farmer stock too, in our sixties and thankfully still fit (one stress related big scare for hubby). We realise that there is more behind us than in front and definitely have no time to spare for soul-suckers. Keep pressing on joyfully and maybe you will make it to the north highlands sometime. We will be travelling more now we are heading for semi-retirement. We will be part of our sons’ business which is amalgamating with ours. Family is so important. We have few but very good friends where we can be ourselves that is so much more rewarding. ❤ rock on!

[mikefixac]

First video I've watched from Azul. How likeable. Azul's not trying to push his way of thinking on anyone. He just smiles and shares how he chooses to live his life. What gets me, is that I think for most of us, our parents, perhaps grandparents, had tough lives. That's just the way it was back then. It's only relatively recently, we can live lives with much abundance.

[huwwilliams]

Love your videos… My personal favourite mantras ‘one house, no spouse’ ( a modification of yours, hehe), ‘spend less, retire earlier’, ‘change the car when when it can no longer be repaired’ (I bought my jeep Cherokee when it was 1.5yrs old, it is now 24 yrs old, I’ve only ever had 2 cars for my whole adult life - I’m 54)