Growing up I used to drive my sisters crazy with my tight wad prowess. We would get our weekly allowance and they would be begging my mom to take them to the nearest convenience store to buy some candy. Meanwhile I was socking my money away and begging them to share their hard earned candy. Cut to a few years later and we would all go to the mall. They would order their favorite chow mien noodles from their beloved Chang Chang and I would beg them to order a water for me and then watch them eat it.

Now there were positive things that came from my frugality. I bought my own bedroom set at the ripe old age of nine. I always had money when my friends wanted to go do things. I continued with these same habits through college and into marriage.

However, my way of life was not a way of living that most people (including my dear husband) can live with. We have struggled with trying to meet in the middle, but I think we are finally getting there. For instance, we have negotiated that my husband has a certain amount of money each month that is all his and he can do whatever he likes with. If he wants to spend it all on soda and eating out, that is his prerogative. If he wants to save the money up for a few months for something he really wants, that’s great too. It is his own mad money.

My sister and I had a lengthy discussion the other day as to what being frugal means, as our definitions are quite different. We both have different ways of being frugal and both have different reasons for being frugal. It really got me thinking about what being frugal is and what it means to me.

I think being frugal means something different to everybody. Some people are frugal out of necessity. To some people being frugal means saving a little money here and there so you can buy that hot pair of designer jeans. For some it is spending as little as possible on the every day things so that you can save for your future. For others it is just something that you are doing right now because you are scared of the current economic state. Others are frugal just because that is the kind of life they prefer (I think that is the category that I identify with the most).

Whatever your reason for being frugal,I think the single most important step for your success is to set up a lifestyle that you can sustain. Do not make yourself feel like you are destined to a life of deprivation. Also, if you are new to a life of frugality, ease yourself into it. Don’t think that you will change your entire way of life over night. Look for painless ways that you can stretch your budget. You will be surprised at what you can live without.

Being frugal doesn’t have to mean that you rinse out and reuse old sandwich bags and make all of your children’s clothes, but it can. I think being frugal truly can be fabulous. I feel like I lead a fabulous life. I don’t have all of the latest and the greatest, but that is okay. I clip coupons and shop around and try not to buy anything at full price, but these are all things I can live with.

What are your reasons for being frugal and what does being frugal mean to you? We would love to hear your thoughts in the comments.

Photo by ES