12 Frugal Living Habits To Adopt In 2024 | Simple Ways to Be More Frugal in 2024 | minimalism + saving money

If becoming more frugal is one of your goals in 2024, it is good to be aware and develop habits that make frugal living easier. In this video, I share 12 frugal living habits to consider adopting in 2024.

1. Defining Frugality For Your Own Lifestyle

One common misconception about living a frugal life is that it is one thing and all frugal people live the same way; however, that is false. Frugality looks different for different people based on their life. It is important to define what frugality means in your own life.

2. Prioritizing Your Values

Frugality isn't about going without things, but rather prioritizing your values and using more money on those things. It is important to know what your values are and stop using money on things that don't bring you value. 

3. Practicing Contentment

Many people choose to buy nice things and spend a lot of money simply because they lack contentment in their life. It is important to be in the habit of practicing contentment and being grateful for what you have.

4. Defining Enough

Frugality isn't about not having a good quality of live, but rather about deciding when you have enough in life. How much money and possessions do you need until you have enough? It is important to define enough in your life.

5. Being Self Sufficient

We live in a world where people are outsourcing every aspect of their life instead of doing it themselves. It is important to be in the habit of doing things on your own.

6. Embracing DIY

Nowadays it is so easy to learn how to do something on your own just by a quick search on the internet. Frugal people are in the habit of doing things themselves rather than paying for someone to do it. 

7. Investing In Index Funds

Investing is a great way to build your wealth over time. Frugal people are in the habit of investing in index funds to grow their wealth.

8. Having A Long Term Mindset

Many people are in a bad financial situation because they always think short-term. Only accomplish financially if you think long-term. Frugal people are in the habit of thinking long term to reach their goals.

9. Being Consistent

The key to achieving something in life is by being consistent over a long period of time. Frugal people are consistent in their habits and choices to achieve their goals. 

10. Having Self Control

The biggest person that will harm you financially is you and if you are unable to control you, it doesn't matter of external forces. Frugal people are in the habit of controlling themselves so they can make better decisions.  

11. Living With Balance

Frugality is not about under spending nor over spending. Frugal people are in the habit of finding a balance between the two extremes so their lifestyle is sustainable. 

12. Doing What You Want To Do Because Frugality Allows You

When you make decisions to spend less and save more, you start to have more options in life. Frugal people embrace those options and do more of want they want in life.