10 Frugal Living Rules That Changed My Life

10 frugal living rules to live by.

Chapters

00:00 Start Here
00:20 All Things In Moderation
01:10 Settle Because You Can't Have Everything
02:01 Limit Your Options
03:06 Be Creative
03:54 Always Buy Quality
04:48 Never Buy Quality At Full Price
06:01 Don't Save For The Sake of Saving
06:53 Always Stay On Top of Things
07:36 Always Have Some In Reserve
08:15 Choose Freedom

As a frugal minimalist, there are certain rules I have established to help me reach my goals and make this lifestyle more sustainable. In this video, I share 10 of those rules.

1. All Things In Moderation

In moderation, nothing is really bad for you. It is the repeated action of something that makes it harmful. As a frugal person, I try to live every aspect of my life in moderation not living in excess nor deprivation.

2. Settle Because You Can't Have Everything

Many people run into financial problems because they try to have it all; however, in life you cannot have it all. Life is about settling and picking and choosing what you want.

3. Limit Your Options

We are living in a world of abundance where we have more options than we can deal with. As a frugal person, I choose to live a more simple life where I limit my options so I don't overwhelm myself.

4. Be Creative

When you limit your options in life, you end up being more creative because you are not always taking the easy route. As a frugal person, I try to find creative ways to live rather than paying to do something easier.

5. Always Buy Quality

Many people think that frugal people are cheap and get the cheapest of everything, but that is not true. Frugal people buy high quality items because in the long term it lasts longer and saves them money.

6. Never Buy Quality At Full Price

Although frugal people buy quality items, they try to find quality items at a discount like buying used. This allows them to still have nice things, but avoid the cost of it being new.

7. Don't Save For The Sake of Saving

Just because you are saving money doesn't mean that you are saving money. Often companies use saving as a marketing strategy to get you to buy more. Frugal people buy things they need, not just to save money.

8. Always Stay On Top of Things

In life, things get out of hand when you stop paying attention. Frugal people understand that small things eventually become clutter and always stay on top of everything that comes into their lives.

9. Always Have Some In Reserve

Life can be very uncertain, but you can bring some certainty back in your life by having a reserve or emergency fund. This brings some financial security to you in the uncertain world.

10. Choose Freedom

Money can either buy you stuff or freedom. Frugal people choose to spend more money on freedom than stuff because they know it's the best thing money can buy.

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[ElAgustin]

What's one rule you've establish in your life?

[jamesr]

I have a rule that if I do not use something for 2 years, I get rid of it. I either sell it or give it away.

[michellehamilton]

Having savings is so helpful because then you're not in a mindset of lack. It is empowering to know you could spend money but you're choosing not to.

[betsylatham]

Many years later, I can still hear my mother’s voice say “it isn’t a bargain if you didn’t need it in the first place”

[bernitup]

I have always struggled with people around me thinking I am greedy and money hungry but what they don't realize is that I am working hard to one day have freedom... while they continue on the daily rat race...

[CliveBirse]

So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 56 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!

[stevelamb]

I love this guy, I have spent money like water all.my life in now 66 . I have decided this year to pay off all my debts, 2 credit card and 2 loans. As he said if you commit for a time to pay off you 6:14 debts how great you will feel once your debt free . I'm in the 2nd month now last month a spent only what I needed and I'm doing well, looking forward to the end of the year and seeing my progress.

[GrannyLinn]

I couldn’t agree more! My parents were careful all year so they could spend the summer in Colorado instead of Texas. We never hurt for anything important; we just didn’t waste, and I still don’t. Usually.

[mikaela_reads]

I so agree with your point about learning to settle. This (my) generation pushes the idea of having it all when it can become toxic and unhealtht. We don't have to have it all. That greed is going to make us unhappy.

[mattwilder]

I love that you said flat out…you can’t have it all. It’s damn true for most of us

[Helena-oury]

As Charlie Munger said in one of his last interviews “ a big house and lots of stuff is a pain in the ass. Buy well once and then you don’t have to do it again “

[Katherine_xs]

I am so happy I found your channel. I had some unexpected car problems lately and one less source of income coming in and I was prepared thanks to your frugal/minimalist living motivation and tips😂❤

[BaronGitanoCafe]

Congrats on your new couch. It was a great deal. Enjoy.

[tericollier]

My Mom taught me to garage sale shop for things like furniture (all things, actually) at higher end neighborhoods where obviously there was more income than our neighborhood. Because, she said, the items there are discarded and expensive quality because the residents simply wanted redecorating or something new. This has worked for me. A $200 sofa that originally cost someone $2, 000. Yeah!

[tamihill]

I started living more frugual.. I rather pay my debt off. Then eat out alot..

[ayysweetstea]

This guy needs to speak to a lot of people around the world lol. Haha Opens peoples thoughts. Interesting hearing this!.

[professormustard]

One of my friends gave me a $2700 West Elm sleeper couch that she never used just because she decided to redecorate her formal living room. 😃

[tamihill]

Love your plant really make your apartment nice

[crazyadventuresandreviews]

I was stopping at store and buying a 24oz beer everyday, here lately I only drink one on the weekend. And only eating out once a month. With vehicles my wife drives the newer but used car and I own two very old vehicles with over 200k on them that way we have at least one to drive out of state with if necessary. This has worked and been a money saver.

[PurpleRose]

1:30
I wouldn't say settle. Rather, as you go on to say, prioritize. Don't settle, ever, prioritize and get those priorities.
As you say 4:25, quality over cheap. Settling would be getting cheap, prioritizing would be getting quality.