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Summary: Frugal living involves make decisions that require the least expenditure of money, time or energy. Cook dinner instead of going out, and walk instead of drive to nearby locations in order to live a frugal life with help from a registered financial consultant in this free video on money management.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
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"This is financial adviser Patrick Munro talking about frugal living. Frugal is the term meant for being very careful with your time, energy and of course money. A frugal lifestyle involves sticking to the very, very basics of life and not getting involved in any extraneous luxury events. If you have an opportunity to drive your car for instance and it's not too much trouble, you would tend to walk to your destination therefore not expanding anything along the lines of expenses for transportation and at the same time you have made a good use of your time because you're getting exercise at the same time. This is a frugal act. If you come into time for dinner and your residence and you decide you'd rather go out for a nice expensive meal as many Americans do, a frugal individual would choose against that. They would cook their own meal in their own house and if they can't possibly eat the meal cold and therefore save on electricity, then they're even more frugal. There's no transportation cost in going to the restaurant. A frugal lifestyle is a life choice but many people in recessionary times choose to do just that. It's an element of survival. This is Patrick Munro talking about a frugal lifestyle."
eHow Article: About Frugal Living
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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