We often start out in life looking up to people who has great virtues and follow a set of principles in their lives. They become our role models, our idols and our heroes. Often the same people we idolize and try our best to imitate are also the most successful people around. They can be anyone, our parents, movie stars, celebrities, wise teachers and gurus – they can even be our friends. Rarely would you see successful people waste their money away for no reason and even if there was a valid reason to spend it to, they would always hold back and think on their decision before making them.
They are called “frugal people” or people who are thrifty and it is one of their defining qualities that made them successful in life. But they don’t do it automatically, no, they’ve learned to become frugal from life experience and they follow these 7 habits.
1.) Being Proactive
– Frugal people don’t let things just happen, especially when it comes to their finances. They always take the proactive role in managing their money and that is why they have control over their lives and achieve their goals more efficiently than other people. Due to their proactiveness they have more freedom to do whatever they want and get what they aim for 90% of the time.
2.) They Work for the Future
– If your lifestyle revolves around your payday, then you’re not frugal, because frugal people create a lifestyle optimized for a 10-year period that will eventually make them financially stable or financially free. Anyone who knows them personally will be able to observe these changes with clockwork precission! The more money and wealth they build, the more time they’ll have and the more they become free from the worries of life.
3.) They Prioritize Important Things
– The best thing about frugal people is they know who is the most important person in their lives; themselves! Unbelievable, isn’t it? But that is why they succeed where most people don’t. You don’t see them worry over paying their monthly mortgages, or loans, or insurance premiums. No, you always see them preparing to create an income and they always save or invest their money before paying their bills. Why? Because paying bills won’t get you anywhere in life, but an investment will.
4.) They only Go for “Win-Win” Situations
– Frugal people always go for the good stuff that’s more than what their money’s worth, simply put, they know how to hassle to get discounts and freebies. This is an important attitude in life as most people think that paying more for something will solve the problem that it’s causing. In fact, this notion is wrong and you can actually get things for free or for a cheaper price without sacrificing quality.
5.) Seek First to Understand, Then to Be Understood
– The life of a frugal person starts very much like yours and mine. They were once incompetent in managing their time and money and like most of us, have also failed in life many times over. But they learn from their mistakes and tend to improve on it by understanding the fundamental nature of making the mistakes in the first place. Once they figure this out, they then change their lives and behaviors to avoid risks of failure. Ultimately, they will decide that bragging on how much material wealth they’ve got does not benefit them in any way and thus their frugal nature is born.
6.) They Synergize
– Frugal people do not spend money on things that they don’t need. As mentioned earlier they spend money for their future and while they do enjoy life’s excess sometimes (i.e. go on vacation, travel to different places, buying fancy clothes and accessories, cars etc.), they by no means do it on a regular basis. It’s mostly one-off every year or even a couple of years. For example, they would most likely find out that paying Netflix’s monthly membership plan is a lot cheaper than getting cable TV, therefore, by instinct, they would discard their existing cable TV plan or will not consider it completely. You’ll be able to observe this in their lives if you ever knew a frugal person and most of the time they don’t care about people’s opinion about them.
7.) They are Sharp as a Samurai’s Sword
– And the most important thing that frugal people do regularly is that they never stop learning. What they learn they apply to their lives and devise constructive and innovative ways to make more money and create more opportunities for their future. If they are married and have a family, then you can be sure that they also invest in each of their family member’s future. They’re like architects and they build impregnable castles.
Other Things You Need to Know About Frugal People
You too can be a frugal and successful person and all you have to do is follow these tips in order to improve your lifestyle. Whether or not you personally know frugal people, no one can deny that their principles in life are quite effective. In fact, most frugal people are not only rich, they are also influential and are involved in key positions that make important decisions that affect many people. Because of this also, they inadvertently share their success to the people who are the beneficiaries of their decisions.