I think much of the utility of frugal living is the mindset it ingrains in you. It becomes a valuable life skill that has a much wider impact than simple finances. You gain a reflexive ability to determine the true value of a purchase, both in the now and in the future.
Say you have 2 people earning $30k/yr. One is trying to live frugally, the other is not. Suddenly the latter gets a $10k/yr raise "just by asking". I'd wager that the person with the deliberate, frugal mindset will still have more discretionary cash the day before payday than the one who got the raise.
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I think much of the utility of frugal living is the mindset it ingrains in you. It becomes a valuable life skill that has a much wider impact than simple finances. You gain a reflexive ability to determine the true value of a purchase, both in the now and in the future.
Say you have 2 people earning $30k/yr. One is trying to live frugally, the other is not. Suddenly the latter gets a $10k/yr raise "just by asking". I'd wager that the person with the deliberate, frugal mindset will still have more discretionary cash the day before payday than the one who got the raise.