Have you ever heard someone say “I am not cheap, I am frugal”? Well bottom line is frugal people usually have ways of saving that the average person might not have ever considered. For example they may pay themselves first. They do this by investing in their retirement fund or other savings accounts first, then pay other bills using the money that is left.
Most people pay their bills first, and then save or invest if there is any money left. Frugal people realize that having money to invest is the most important priority, and they take care of that priority first. If there is not enough money left to pay the bills, then frugal people find ways to make their bills smaller so they can fully fund their investment goals. Other ways they save, they eat out less, live in a smaller house, and they make spending decisions in terms of needs and wants, while most people think in terms of having more and better stuff than their friends and neighbors. We can definitely learn some saving ideas from frugal people.
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