How Frugal People Refuse to Be Average with Money

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AFFILIATE DISCLOSURE: Links included in this description may be affiliate links. We participate in the Amazon affiliate program and several other affiliate programs, as well. If you purchase a product or service with the links that we provide we may receive a small commission. There is no additional charge to you.

When it comes to money – being average is NOT necessarily a good thing. That's why frugal people refuse to be average with their money.

We sometimes believe that being debt free, knowing how to save money, being frugal just drops out of the sky and lands on some lucky people. But, that’s not true. In this video, we’ll reveal exactly what we do, the top ways that we consistently spend far less than average, and how you can do it, too.

//WATCH MORE FRUGALITY VIDEOS:

00:00 - Introduction
01:00 - How the Average American consumer manages their money
04:00 - Frugal people recognize destructive spending patterns
04:30 - Track your income and expenses
05:43 - Make sure your spending plan is prioritized
07:00 - How frugal people put limits on their spending
08:15 - Why frugal people don't buy into fads
10:35 - Don't allow peers to pressure you to spend money
11:45 - Keep a written list of goals
14:07 - How to adopt frugal flexibility
17:00 - Frugal people have frugal friends
19:23 - Frugal people don't follow the path of least resistance
22:23 - Create money challenges for yourself
23:23 - Figure out the ROI on purchases
24:41 - Frugal people are conscious spenders
25:40 - Frugal people do the math

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//COME SAY HI!

//ABOUT:

We're Hope and Larry and we love practical frugality. We raised our four sons, debt-free, including paying cash for our home when our income was well under the national average. For tips on saving money, budgeting, paying off debt, and setting goals (while living with a spirit of joy and abundance), subscribe to us here on YouTube and visit us at our website and on social media.

Information on Under the Median represents our opinions only. We are not medical doctors, medical professionals, nutritionists, or investment professionals. All content found on Under the Median is intended for informational purposes only. Please be sure to exercise due diligence and always contact a professional with any questions you may have regarding any information you have seen or heard on our YouTube channel. Use caution when following instructions in this video. The creator and publisher of this video will not be held responsible for any adverse effects that may arise from the use of any method on this channel.

//CONTACT:

[bluefoxblitz]

My grandparents had a saying, take care of the pennies and the pounds will take care of themselves.😊😊

[asavannah]

I sometimes say to my husband: I don’t care about what other people do, I only care about what we do!

[elizaC]

Being on the same page as your spouse is the best place to start.

[dorothyueck]

My wash machine died last January. Instead of running out buying a new one on credit I’ve been going to the laundromat. I live alone and can’t believe how easy it is to get all my laundry done once a week. Have also met some nice people.

[lindadorman]

I love not being average! Some people never budget, some budget once a month...I budget every day. The first thing I do in the morning is check all my accounts and credit score, pay bills and update my financial tracking spreadsheet. It takes less than 20 minutes and it's become part of my daily routine. What started as a depressing chore has become a fun game for me to put over 60% of my income into savings.

[Just...Peachy]

I think it really comes down to self-esteem. Only when you truly don't care what people think can you be free. Then you can happily drive the old car, wear the same clothes over and over etc.

[MaryEavey-dcsk]

I just turned 65 in April; plan on retiring in a couple of years. I just paid my car off the first of July. The only debt I have left is a 401k loan that will be paid off in December if nothing extra is thrown at it. The interest on that loan is going into my 401k account so I have saved it for last.
I got divorced in January of 2019 from a spendaholic. Since June of 2018 to December 2023 I will have paid off over $40, 000 of debt on my own income. I am so happy going solo and not having to plug someone else's holes in the boat. Life started at 60 for me!

[sophiakitts]

We used to joke that almost everything in our house, except the kids, was second hand. Even the dog. And the house was ‘used’ too! Thanks for another informative and thought provoking episode. Your doppelgängers in Knoxville.

[StephanieGiese]

When my children were small we didn’t have a lot of extra money, so I would reserve fast food restaurants for dessert. In the winter our McDonald’s had an indoor playground which was a huge help as a young mom. We would go after eating at home and spend $1 on a pack of three chocolate chip cookies, and the kids each got to eat a cookie and spend time in the playground. Sometimes we would splurge and spend $3 on ice cream cones. They loved it and it never broke the budget.

[bundydata]

I'm retired and I'm saving $1080.00 each month in four various mutual funds. When I worked I made about 48g but I lived on about 18g the rest went to 401k. No one knew I started late in my early 30s. Things seemed impossible I'd already worked 14 years and had debt. Wreck set backs, so I turned it around.

[estherletteney]

Don't forget to check every gift card for any balance left. I had a $5 for a local restaurant in my email. I figured I'd treat myself to a specialty drink pay less than $1. I had points on the card so my drink was free!! That was a good start to the day.

[patriciarodriguez]

I wish I was more confidently frugal. I can be extremely frugal around my family but when I’m around friends, I tend to be embarrassed :( they don’t support themselves and don’t have (rent, loans, pge, etc) like I do. And I get embarrassed to order the least expensive items on the menu but deep down it’s what I can truly afford!

[cathyphillips]

Here in Ontario Canada, I am in the 5th week of Air Quality Warnings from the wildfires, and the 5th day of Heat Warnings! All this to say that I have had to buy an air purifier and an air conditioner for my apartment. This is why you should have an emergency fund! You never know what is going to come up.

[EmilyEmilyEmily]

I'm trying to focus on the small amounts adding up because frankly that is all I can spare. It paid off today, I had been placing $5 in a separate account every week or so recently- trying it out as a savings account. It wasn't much so far, less than $40 but I am broke, the already paid but still broke kinda broke 😂 So to get some groceries and pet supplies I used my little savings. I was so tired and frustrated after work I REALLY wanted to go get Mexican food but instead I made a better choice and the amount was just right to get us through the weekend. Still working on additional income but I appreciate reading the comments for ideas and also knowing most people go through this or are currently.

[wendyw]

Y'all are "Under the Median" so I was surprised you didn't include the US median income. It's $31, 133 per person (2019) and the median for a family income $69, 717 (2021). (Source were Data Commons & Motley Fool) The billionaires and millionaires skew the average income to the point that it makes normal people feel defeated. I enjoy your channel and sometimes find helpful ideas. I'm widowed and retired, so a family-oriented frugal mindset doesn't always help me. Learned my budgeting skills 50 years ago, but it's always great to learn new ideas.

[Dollcan]

We have a 3 year plan for getting out of debt and have found ways to cut 10% on our grocery spending. I feel so encouraged by you both!

[dabneydee]

Regarding peer pressure - all my friends make fun of me because I drive a 25 year old car and refuse to splurge on a new (or new-to-me) upgraded model. My reasoning is - why should I get rid of a car that still does its job well, and doesn't cost me anything except the usual maintenance and the occasional repair. It may not be as sexy as a newer model, but I honestly don't care. I have the money earmarked for a new car once something major breaks down, but until then, I'll continue to suffer the mockery of friends and family!

[AEvans]

Congratulations on 160, 000 subscribers🎉🎉🎉
That's 160, 000 people who appreciate the benefit of your real and applicable advice.

[ivy]

Listening to older people talking about wisdom is always a good thing. And you guys do a great job!!

[trishacarlson]

I've never fit in my entire 34 years, why would I start now? LOL I just love you guys. I don't have much of a community except my YouTube videos, so I really appreciate you all. <3