Category Archive House Architecture

ByCurtis Watts

Why Would A Person Choose To Live A Frugal Life?

For some reason, there is a myth out there that living a frugal life means you are living a boring life. Some even believe that if you are frugal then you are a bad parent, a bad person, and a bad friend.

If you don’t believe that, I recommend you read the comments on the next frugal living-related article on a major website such as Forbes, YahooFinance, or something similar. One thing that will be in common with most of the comments is the negativeness from many of the commenters.

I’ve even overheard conversations myself where people think I’m missing out on life because they assume that all frugal people just sit at home all day and do nothing with their lives.

That is FAR from the truth. I know many who are taking part in frugal living and I think they are some of the best 🙂

Sadly, many aren’t interested in frugal living because they believe the myth above.

There are many reasons to live a frugal life, though. Continue reading below to see the reasons for why many choose to take part in frugal living.

 

1. You want to be comfortable in your financial situation.

Seeking financial freedom is something that many are aiming for by living frugally. Being frugal may give you a better chance at reaching this since you are most likely honest with yourself about how much money you earn, how much you spend, and how much you need in order to survive.

Knowing that you are in control of your financial situation is a great benefit of living a frugal life!

Not being comfortable may even lead to debt, which I discuss in the next reason…

 

2. You want to avoid debt.

No one actually wants debt, right? By choosing to live the frugal life, you may be able to avoid debt much more than the average person.

By avoiding debt, you will have less stress due to the fact that you won’t be worried about the next bill you have to pay and the amount of interest that is building up.

You will also be more likely to retire earlier, buy the things that you actually do want to buy, and more.

Related article: How To Live On One Income

 

3. You want a simpler life.

Bigger isn’t always better. More isn’t always better either.

By living a frugal life, you are most likely making do with what you have, buying and using quality items that will last, and so on.

By having less stuff and less clutter in your life, you will live a more simple life that you can truly enjoy. Material items do not always equal happiness. Sometimes they just add stress, debt, and more. Think about it – the more stuff you have, the more likely that something will break, something will get lost or tossed to the side, and so on.

 

4. You know that you can still have fun while being frugal.

Anyone who thinks you can’t have fun while being frugal is crazy. You don’t need to spend a ton of money or be rich in order to enjoy life.

Yes, you can still go on vacations, buy your dream home, have a family, spend time with friends and family, and more. Being frugal doesn’t mean that you are giving up fun things in life.

Side note: I recommend looking into Digit if you want to trick yourself into saving more money. Digit is a FREE service that looks at your spending and transfers money to a savings account for you. Digit makes everything easy so that you can start saving money with very little effort. Read Digit Review – A New Way To Save Money.

 

5. You want to appreciate everything and anything around you.

When we were spending more due to lifestyle inflation, we realized we weren’t really appreciating the things we were spending our money on.

We were buying things, not enjoying them, and just being a little lazy because we weren’t in the right mindset. I didn’t like feeling this way because I felt wasteful and even guilty of the way I was behaving.

Life is great and you don’t need to be rich in order to enjoy it. By living a frugal life, you are more likely to appreciate what you have.

Would you rather enjoy each meal you eat, each item you buy, and more? Life is a great thing and appreciating the little things can be a great feeling.

Are you interested in frugal living? Why or why not? Why do you believe some are so negative about frugality?

 

The post Why Would A Person Choose To Live A Frugal Life? appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

ByCurtis Watts

Home Ownership vs Renting As A Minimalist Lifestyle Decision

When it comes to buying a home or renting, there are many things to consider. While there are tons of resources on the financial implications of both options, I’d like to share my thoughts on buying versus renting from an intentional living and minimalist perspective. The decision to buy or rent is just as much a lifestyle decision as it is a financial one. Ultimately, if the decision to buy is made, a home affordability calculator is a great resource to get started.

Longevity and Flexibility

It’s important to consider how long you’re planning to be in a certain area and how much location flexibility you need when you’re making the decision to buy or rent. When renting, the leases are typically 12 months or less and there may be options to work out a more flexible move-out date with the landlord or management company. If you end up needing to move to a different area, you have more flexibility to do so.

It becomes a lot more complicated if you need to move away from a home you own. You’ll likely need to sell the house or rent it out—options that require more time and resources than if you were renting an apartment. With the amount of investment and time that a house requires, it’s probably best to stay in a location for at least a few years if you’re going to buy.

Personal Values

Think about how you want to spend your time. Similarly, it’s also important to consider how much responsibility you’re willing to take on. During the time I lived in an apartment, I barely changed a light bulb. There were no repairs, no additional investment and no worries.

For the past five years I’ve owned a home, it’s a whole different experience. I spend time cleaning the gutters, mowing the lawn, buying and fixing appliances and other maintenance activities that you never have to think about when you’re renting.   Regular or unexpected repairs can quickly add up to large sums when you own a home. Part of the benefit of renting is that you don’t have to deal with or budget for anything like that.

Customization

Another thing to think about is how much customization and control you’d like to have. A home you own can be customized to your exact liking, a rental on the other hand has more limitations. From painting the wall a different color to making bigger changes to your living space, you’ll have greater control if it’s your home. With a rental, any customizations would need to be approved by the owner.

Amenities

Amenities are another lifestyle consideration when it comes to buying or renting.

Most likely, an apartment will have more amenities than a typical home, such as a workout room, pool, large party room or even a concierge service. Of course, you may have the option of building or adding similar amenities to a home you buy, but it can be pricey and impractical investment. If you want a pool without the cost and maintenance that owning one would require, then renting an apartment with a community pool is the way to go.

From my perspective, whether you buy or rent has a significant impact on your lifestyle, particularly over the long-term. Thinking about what’s important to you and how you want to spend your time will help you determine what best fits your desired lifestyle.

The post Home Ownership vs Renting As A Minimalist Lifestyle Decision appeared first on MintLife Blog.

Source: mint.intuit.com