Frugal living Is life more difficult for those of us who are frugal

Frugal living Is life more difficult for those of us who are frugalFrugal living Is life more difficult for those of us who are frugalHeres an interesting question about frugal living If you live a frugal life, is yur life harder than the life of someone who spends a great deal more money than you? Or, is it easier?Lets get a little bit deeper If youre frugalbecause you have to be, rather thanbecause you choose to be, does that change the scenario?To this humble blogger,life becomesmeasurably easierwhen living frugally.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moreWhat does it mean to live frugally? Does it mean sacrificing the nicer things in life? Sometimes, but elendlage always. Frugal people knowvaluebetter than perhaps anyone.Value is ameasure of worth within the context of your family. Once we understand the true meaning of value and how it impacts our life, our decision-making process becomes that much more effective.For example, a frugal person may not opt for the cheapest t-shirt in the store, provided the shirt fits and feels comfortable. If another brand offers a better quality product, but at a higher price, the more expensive option might be the better buy because it will last longer.A few examples of how this works in practiceA frugal person might buy a more expensive product because itll last longer than a less expensive optionA frugal person may choose a less expensive option when given a choice between things of relatively equal valueA frugal person is not afraid to spend money on things that provide measurable valueRemember,frugal does not equal cheap.Frugal living beats many of the alternativesCompare frugal living tothose who live paycheck-to-paycheck.Naturally, worry over finances is the source ofprofound stressfor many Americans. Losing a job means the dependable source of income is no longer guaranteed, jeopardizing the livelihood of the family.Fr ugal living, on the other hand, often implies a savings account. It means we are spending less than we are making, generally by a wide margin. It means we have money left over month-to-month.Now, compare frugal living to ahigh-income earnerwho treats him or herself to the nicer things in life. Its great tomake lots of money, but high spending habits put us in a position of weakness.Spending large amounts of money creates a scenario where weNEEDa high-income just to keep up with our lifestyle. Often, it means we cant take a sabbatical without significantly curtailing our outward flow of cash. Or take a less stressful but lower-paying job. Our options are limited.Finally, match frugal living up with aperson with inherited wealth.Its great to fall ass-backward into money, but what happens to that money when its notearned? When money is not earned, its also not appreciated. It is not an accomplishment. In other words, its notvalued.When we dont understand how value influences our decisi ons, we quickly squander our would-be advantages and replace them with self-inflicted weaknesses and incredible debt.What happens when we are frugal?Again, frugal people are not cheap. While they do very often spend less money than the average consumer, they do so because theyassess value differently. They are typically much more resourceful, and they conserve and squeeze the most out of everything that they buy.They are economical. Believing in maximum output with minimalinput, frugal people tend to be less wasteful and aware of the influence that the things they buy have on their life.Frugality is aboutliving smarter.Smarter with moneybuy based on value, not based purely on cost. The previous example of the t-shirt illustrates a scenario where price may not necessarily equate to value. Most often, we get what we pay for. It is our job to assess how much value we truly need out of the things that we buy. Its a balancing act, and it can take some practice to get right.Smarter with t ime useParetos 80/20 principleto maximize your time spent doingwell, everything. Very often, we are most productive during a few relatively short periods of the day. Take advantage of these times by doing the things that make the biggest difference in your life.Thats right dont clean the bathtub during your productive hours. Work on your start-up business. Write an article for your blog. Apply for that job. Do that assignment that should have been done weeks ago. Whatever means the most to you and your future, do itSmarter with skills fix your own car when possible. Replace that faucet instead of hiring a plumber. Become your very own Mr. Fix-It and stop paying for someone elses labor whenever you can. You will make mistakes along the way, but thats how we humans learn. We dont learn a thing bydoing everything rightthe first time.When we live a frugal lifewe can take a sabbatical without a second thought about finances. We have enough saved to withstand a sudden loss of our job. An emergency would likely not bankrupt us.If we begin to hate our job, we can move on to something else, even if that means earning less. In fact, we can simplyquiton the spot if things get schwimmbad enough. Virtually anything is possible when we dont live paycheck-to-paycheck.My dad used to tell me You can haveanythingyou want, but noteverything. He was right.And frugal people know this firsthand.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people