Save Big On Expenses - Frugal Living - The True Secret Of The Hustler

Living frugally does not necessarily mean living in poverty or having to constantly deprive one’s self of the finer things in life. Depriving one’s self of anything and everything is not what the frugal living lifestyle is all about. In fact it is just the opposite, because with frugal living you are able to keep expenses low, pay off debts faster, save and invest comfortably.

I have been accused of being 'cheap' and I like to correct people and say that I am living frugally or I am a minimalist. Makes it sound a little less, well, cheap, haha. I learned this lesson in life from my grandfather on my Mom's side. He was an old school teacher, but was introduced to the stock market in the mid 80's when he retired from teaching and did extremely well over the years. If you would look at him wearing the same clothes for my entire life, you would have thought otherwise. But when he died, my mom and aunt were very surprised to find out that he had some serious stacks that he left them.

Being Frugal

Learning to be comfortable with smaller size elements that work well and are equally compatible with the individual’s lifestyle. Again, it's not about giving up the things you value in life, it's about cutting out the things that you don't. You don't have to live this big lavish lifestyle to be happy. In fact, most people with the biggest, newest, and the best stuff, are in most cases the most miserable as well.

Although it may seem nice to have everything is large sizes, from houses to cars to holidays to spending allowances, with a little bit of knowledge and research anyone can find smaller yet suitably tailor elements that are equally if not better. Think about it, you want a big huge house, well who is going to clean that big house? If you pay someone, that can get really expensive down the line. If you have the big expensive car, it most of the time comes with some big expensive maintenance bills. If you have a smaller place, with less things, you have more time to focus on the things you want to focus on.

Don't let your stuff own you! Having too many things, leads to too many headaches. Living a light weight lifestyle opens you up to all kind of opportunities because you are not tied down by the weight of your stuff.

Leasing and Renting Vs Owning Your Living Space

For some leasing or renting may present a more financially attractive package than actually owning. This is due to the fact that when there are ownership issues involved, all expenses and cost are born by the owner itself, and these hidden costs can be quite substantial.

Therefore with the savings from all these hidden expenses and cost that come from ownership, the individual can look for good investment opportunities that may bring about an even better financial standing.

This can go for things such as vehicles as well. If you want the experience of driving that awesome sports car, then go rent it for a night, take your significant other out on the town, then take it back and not have to deal with the expensive maintenance and insurance.

Eating Out Can Drain Your Wallet

When it comes to eating expenses, most individuals do not really realize just how much can be saved and how to go about making these adjustments to procure the intended savings. Eating frugally yet healthily is one way of keeping the expenses in check. Taking the trouble to fix meals at home is more cost effective that going out to eat all the time, especially in this inflationary landscape, but I digress.

It is much healthier for you to eat at home vs out anyway because you know what you are putting into your body. Also you know how much to make for yourself or your family vs making oversized portions that will go to waste.

Learning some basic cooking skills goes an extremely long way in life. If you have a small little space for a garden or some plants, you can also learn how to recycle and regrow many veggies like celery, romaine lettuce, carrots, etc. Learning to grow your own food can save you a ton of money in the long run.

Learn The Financial System Or Get A Financial Advisor

Financial education is one of the most important things that people are not taught in schools and growing up. Unless you were lucky to have successful people in your family or around you to help guide you, you were basically left to your own devices to figure out how to manage money.

Learning how the banking system works, how to manage your assets, what are true assets, and more, can help you get a solid focus on your savings and goals for the future. If this stuff still scares you, confuses you, etc, then it's okay to reach out for help from a financial advisor.

With so many options available to make good investments it can be quite confusing for the individual who is not savvy and does not possess the important elements it takes to be a good and sound investor. The various investment opportunities available, also comes with a lot of confusing jargon, that the individual may not be able to relate to, causing further confusion and maybe even contributing to some poor judgment calls.

Most people are busy with the everyday routines and distractions, that sparing the time and energy to delve into the mostly confusing financial investment opportunities is really not an option that can be fully explored. Although some may take the plunge, most would rather engage the services of a reputable financial advisor who would be able to completely concentrate on finding the best investment opportunities for their clients.

As these financial advisors are more knowledgeable on the various sorts of investment tools available, their opinions would be better accepted. Most financial advisers depend very much on the recommendations of satisfied clients, to expand their portfolios of customers, thus being experienced and good investment advisors is part of their attention grabbing tools.

Financial advisors are also trained to help an individual plan and budget according to their financial capabilities and this can be useful to an individual who is currently not able to enjoy or capitalize, on his or her own financial standing.

The downside of a financial advisor is that they will take a nice sized chunk out of your profits for managing your money. So the more you can learn, the more that you can take control over your own finances and your own financial life. This is the ultimate way because you don't have to pay a manager. But, be ready to pay market tuition. This means be prepared to take losses and learn lessons. It's all apart of the experience!

Getting Involved

Other things you can do is to continue to follow us at Hivehustlers for more posts on personal development, being an entrepreneur, and more!

Also go get involved in communities like @leofinance where people, just like you, are all learning together how to navigate these crazy financial markets! You can learn an amazing amount from the different people coming from different walks of life!

I have learned an amazing amount from just being apart of these communities and having people help guide my way! This is one way you can save money on an advisor, and get an amazing education from people that are doing it right along with you!

Keep calm and Hustle on!

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