Being Frugal When Saving Time And Money

Nowadays, calling someone frugal is more of a virtue, like giving a badge of honor to that person. Being frugal or cheap is sometimes used interchangeably, but the terms have different meanings.

Being overly cheap or extreme frugality without reason and lack of generosity is a symptom of obsessive-compulsive personality disorder (OCPD) by the International OCD Foundation.

1. Having A Purposeful Mindset Adopting a frugal mindset means being more thoughtful about your purchase decisions.

2. Motivate Yourself By Knowing Your Goals It is easier to save or manage money when you have a plan for your future. Determine your short and long-term goals.

3. Prioritize Spending To Improve Your Financial Health Frugal spenders tend not to be compulsive shoppers, accumulating lots of material possessions to regret.

4. Price Vs. Value Buying solely on a price basis without regard to quality is a hallmark of cheapskates. Those who are frugal make economic rather than impulsive decisions.

5. Frugalness Is Good For The Environment Practicing frugality has become part of the minimalism cult and more acceptable in recent years. 

6. Be Frugal About Wasting Time Time is money. Both are valuable resources, but time is more precious because it is finite. We cannot replenish time.

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