The biggest misconception about living frugally is that you have to do without everything.
What it really means is that you are smarter with your money.
Living frugally doesn't necessarily mean lowering your standard of living.
Living frugally essentially means being frugal with your money and expenses.
This means living well below your income and then using the money you save to invest in your future.
Be smart about your spending
Living frugally doesn't mean you have to significantly lower your standard of living.
However, it will require changing your habits and spending habits regarding how you spend your money on a daily basis.
Being frugal means that you clearly understand the difference between a need and a want.
The choice between living comfortably with little savings and saving for the sake of large savings depends on the chosen priorities.
If it is more important to enjoy life now, then choose comfort and small savings.
If you intend to have a secure future, it is better to save now.
