When we stop grabbing, clinging, striving for more more more, then we can slow down and really enjoy life.

Also frugality is different for everyone. Maybe for a film buff, they would cut out other things so that they can have money to spend on films.

Depending on age and whether you have a family to provide for, what you need to sacrifice will be different. When you’re single you can be more indulgent in your spending even if you don’t have a lot of money. When you have a family (like I think Leo’s site says he has 6 children!) then you don’t mind making sacrifices for the betterment of your family.

Another thing about ‘less is more’ is that this way of living is really good for the environment too.

Everyone should live their life in the way that makes sense for them, but if you’re looking to become better at frugality (to save for “expansion” in your future) then this post is a good place to start.

Nice writing as usual Leo!

I grew up not well off, and know that there is no feeling better than money in the bank. It allows one to stop thinking about money and live, even when the unexpected happens.

I also have the uncanny ability to be attracted to the most expensive items in a shop!

I brown bag lunch, Netflix instead of cable, buy consignment furniture (always get nice comments about my home, no IKEA here), have nice quality clothes that last a long time, found that going to bars really isn’t that much fun since it’s always the same old story.

The first thing I’d recomend is to slow impulse buying. Just think about each item you are buying before you get into line, and ask “Do I really need this?”

Second, keep a water bottle in your car. Get one from REI, EMS, or other hiking store. This keeps you from stopping at 7-11 when you are thirsty, saves a buck or two or more a day. Fill it with tea or iced coffee or whatever from home if you want.

If you don’t piss it away a little at a time: 30th birthday spent in Puerto Rico, Ritz-Carlton Concierge level, $500 dinners. Spend it when it counts!

I make a fairly substancial income. My wife stays home with the kids. I save about $30k a year for retirement. But, I have no savings for short term needs (like buying a new house). Subtracting $30k from my income still leaves a fairly decent ammount. My wife asked if I wanted her to work to make more money. I said that was not an acceptable solution. Her making $20k-$30k a year isn’t worth the affect on out kids (having to put in daycare). Cutting back on little things is a much better solution. We’ve already figured out how to cut out $120 a month and it has been relativel painless.

This also gives me the peace of mind that if I lose my job, our real expenses are less.

Great discussion!

I hear your point, but I don’t think the two are mutually exclusive. I do both. I think frugality is an important starting point for many people who overspend and are getting themselves into debt … but it makes sense for others as well. If you’re trying to increase your income, why waste it by needless spending?

Think of it this way: If you currently make $30,000, and then make an additional $10,000 through your website or ebay or other side business … does it make sense to spend most of that extra income, or would it make sense to cut your spending even more — if you cut your expenses by $5,000, you’ve just given yourself a $5,000 raise, in effect.

I suggest that people do what works best for them, but for myself, I am frugal while at the same time, I have increased my salary, I make extra money through free-lancing, and I have a decent side income through my website. Combine them and you’ve got a winner!

Thanks for the excellent point and the opportunity to clarify my article.

Gaining more and more… hmmm … let me see.. for a population explosion.. i dont think this is a good idea..

The above steps which I have been practicing for a long long time is the best way you can understand yourself…

The more you want.. the more blinded you are.. (simple.. but yet so complex..)

One way is to cut expenses and the other is to increase income.

Some people are good at cutting expenses and others are good at creating new income. Because you do one, doesn’t mean others can do the same.