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Save Money Now

The Truth About Frugal Living

By Gregory Thomas

Here's a question for you: What's the impression or image you have in your head when you think of someone who is a "tightwad," living a somewhat frugal lifestyle?

Does the stereotypical image of an old, feeble-minded miser with dirty old overalls, worn-out sneakers with a fisherman cap pop up in your mind? That's OK. Stereotypes are hard to get rid of, especially the negative connotations sometimes associated with budget-related terminology.

All too often people assume frugality and budgeting are for poor, low-income families. Only the less fortunate have to worry about these things, right?

First off, throw out all these misconceptions. Wipe them from your mind. They no longer exist. Instead, let's take a look at the bigger picture – the purpose and reason for wanting to budget, conserve and lower your bills.

In our society, it is very easy to get caught up in all the glamour of the rich and famous. You know, all the fancies in life. Isn't everybody supposed to be gorgeous, drive fancy cars, dine at the most expensive restaurants and have beachfront property to come home to every day?

We have this image of the wealthy and all the luxuries they spend their money on, and we sometimes try to replicate this in our own lives. More specifically, we don't want to be seen as if we are financially challenged, so we spend our money the way we think wealthier people do. We buy what they buy. Go where they go. We spend our money carelessly without even giving it a second thought. It makes us feel good because we've briefly made people think that we are wealthier than we really are. Sometimes, we even trick ourselves into believing that we actually have more than we really do.

Want to see more?

• Do You Want to Save More Money? How to Successfully Begin the Process
• Save Money Now: Lower Your Expenditures
• Start Small, Save Big: 10 Things You Can Do Today to Save Money
• Talk about it!