Frugal Living

Frugal Living is defined as a concept where a person allocates funds with full awareness, with good consideration and analysis accompanied by a clear strategy for achieving future financial goals.

Some practical steps that can be taken in implementing Frugal Living include:

1. Make sure you have clear and reasonable financial goals.

Financial goals are certainly something that is needed, which can improve the quality of our lives. Formulating clear and reasonable financial goals will help us to achieve them, so that all the efforts made are not in vain. Financial goals could be collecting funds for a wedding, buying a house, saving for a child's education, planning for early retirement, securing sufficient emergency funds, or having sufficient retirement funds.

2. Always analyze needs vs wants before spending your money.

The results of analysis of consumer behavior show that spending to fulfill a lifestyle is much greater than spending on buying goods that are really needed. So it can be concluded that a lot of money is spent buying goods that do not provide the benefits that are actually needed.

3. Avoid consumer debt

You can imagine how chaotic your financial situation would be if you had to buy consumer goods, which you may not really need, but must be purchased on credit. Let's stop this bad habit now.

4. Feel comfortable not being influenced by trends

Continuously following developments in fashion, gadgets, cars, or other objects is something that is strongly avoided in the concept of frugal living. Trends are marketing strategies to increase consumer demand. Avoiding the cycle of consumerism and not doing impulsive buying are behaviors that must be maintained in frugal living. Stop thinking about other people's expectations of us.

5. Have the perception and awareness that life is not just for now.

There is still tomorrow, there are still children who need to fight for it, there are still future generations who will depend on this earth for their lives. Frugal living is not only for your own good, but for the sustainability of the earth.