Frugality is a common practice of wealthy people. Frugality is the ability to manage money well and avoid wasteful spending.

Making money is not enough to make you rich. There are so many people who make good money but eventually waste it all. If you want to accumulate Wealth, you must be frugal. Being frugal doesn’t mean that you are stingy. It means you have the financial sense to manage money well.

Being frugal doesn’t mean you are cheap. Always go for the best quality that you can afford. Wealth is created when we can successfully make, manage and multiply money. And for this to happen, frugality is very necessary.

Tips to enhance frugality:

1. Save first and spend what is left

2. Identify essentials and cut off unnecessary expenses

3. Sell what you don’t need

4. Pay for good quality not flashy or trendy

5. Cut down unnecessary subscriptions

6. Invest more and delay luxury

7. Cut down expenses on “aso-ebi” and ceremonies

8. Stop trying to impress people by spending big

9. Live a simplified lifestyle

10. Cut off bad debts

#SaveFirst

#SpendWhatIsLeft

#MultiplyYourIncome

#IdentifyEssentials

#InvestmoreandDelayLuxury

#StopTryingToImpress

#CutOffBadDebts

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