Living frugal is not something just the economically challenged do. In fact, living frugally is something we all do at some point or the other in our lives. Even the richest of people have gone through phases in their lives when they have had to be careful in their spending habits and be thrifty.
There are many reasons why people have to spend sparingly. Sometimes it may be by choice. But more often than not, prudent living is not a lifestyle choice people make willingly. Circumstances force them to be thrifty. Here are some reasons why people may choose to live frugally.
Circumstances That Perpetuate Living Frugal
In families where only one of the partners is working, it pays to be prudent. With the economy so volatile, one can loose their job real fast. In such circumstances, thrifty and careful spending is advisable.
Large families where parents have to support many children may also need to be sparing. In addition to being careful about their spending habits the families have additional stress about saving for college funds.
Single parent families also often find themselves living frugally. The lack of emotional and financial support from a partner can take its toll on the family and force the family to be economical.
Sometimes even the rich live prudent lives. This is often seen in cases where an individual is a self-made person or comes from a low economic background. The lack of money in the early years forces the individual to be sparing with money. Such habits are hard to break. So even when the money is plentiful, the person may be saving more and spending less.
Thus, living frugal is sometimes more a necessity than a choice!
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