Frugal living is a lifestyle
To be extremely frugal, frugality must be a lifestyle. Frugal living is a mindset that becomes a way of life. The “extreme” comes in being creative to go even beyond your regular means of saving and cutting back.
Perhaps you have started making out a monthly budget and are following that perfectly. Maybe you have started putting ten percent of your income in a savings account. You may be frugal out of necessity, or you might be practicing the frugal lifestyle in order to accomplish future goals, such as putting money away for a vacation, a house, or retirement.
By living extremely frugal, you will achieve your goals much faster. You might even find that you enjoy the frugal lifestyle, as you feel good about living on what you need without all the excess. Extreme frugal living is challenging. If you are the type of person who loves a challenge, you might see that finding ways to live even more frugally is really quite fun.
What does “frugal” mean?
To live frugally means to live cheaply, perhaps to scrimp, to cut back, sometimes to excess. “Excess” is an ironic term to be used with “frugal,” but it indicates the extreme direction that frugality can take.
While “frugal” and “thrifty” are sometimes interchanged in their usage, frugal refers more to cutting back and saving money. Thrifty living does include cutting back and saving money as well, but being thrifty also contains an element of innovation and managing things well. In order to practice being “extremely frugal,” we have to commit to be both frugal AND thrifty in our daily living.