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Frugal, Not Cheap: The Mindset That Builds Real Wealth
Retirement Guru: Understanding money
Too many people confuse being frugal with being cheap. Others think it’s just about sticking to a budget. But frugality is neither penny-pinching nor accounting obsession. It’s a way of life. And for those planning a secure, meaningful retirement, it’s one of your greatest allies.
What It Really Means to Be Frugal
Frugality is about aligning your spending with your values. It’s not about how little you can spend, but how well you can spend on what truly matters. Frugal people don’t chase bargains for the sake of saving a few dollars, they make conscious, long-term decisions that support their priorities, goals, and well-being.
The Five Pillars of Frugality
1. Intentional Spending
Spend less on what doesn’t matter to you so you can spend more on what does. That could mean skipping daily lattes so you can fund travel, your child’s education, or early retirement.
2. Smart, Not Stingy
Frugal isn’t about choosing the cheapest option. It’s about choosing the best value. Sometimes, that means paying more for quality, durability, or peace of mind.
