Hii guys !!
Nice to meet you again .
Today I will share the concept of frugality with you .
As far as I know , Frugality is embedded in a Middle class Indian but we are generally not aware of it . To some extent we unknowingly practice it in our daily life . Yet we don’t acknowledge it hence never continue to its fullest capacity.
Like we generally rely on public transport rather than using personal vehicle to travel to and from office .
Buying ration in bulk rather getting it at retail , which saves both money and time .
Making good dinner at home rather than going to a fine restaurant.
Waiting for festival discount to buy fridge or television online
These are some examples of frugalist in India .
But what do we do with the money saved with these frugal steps ?
We generally don’t care or calculate the total amount saved by being frugal , hence this amount gets used in an unnecessary expensive purchase .
This happens when we don’t ask our selves these questions –
- Am I purchasing it due to peer pressure?
There are times when your neighbour buys an expensive SUV , which also makes you want to buy that same car but you don’t realise that you have only three members in your family home right now (you ,wife and a child ) .
You can also accomodate your family into a WagonR but you choose not to because getting a smaller car will not make you feel good infront of your neighbour. A car’s purpose is to be comfortable,have a good milleage and take you to your required destination.
- Do I really need to upgrade this ?
The trend behind a mobile purchase always dies after 2-3 years . When you buy a mobile because it was viral and trendy at that time , then you will surely buy another mobile when the the trend dies off .This way you are not buying a mobile but a trend which is temporary and will surely pass out .
A mobile’s purpose is to call and take good photos and videos that’s it . If your 2 year old mobile still fulfills these requirements,then you should continue using rather than hopping on to a new trend .
- Can I postpone this purchase ?
There are times when you want to get some good jeans but they are too expensive . You end up buying for a hefty amount it because it was too good to ignore .
But in reality in 15 days you were about to get good diwali dhamaka discount on that jeans saving you a good amount . This is why you always wait when in dillema.
- How often will I use this thing ?
Wearing a 20k suit for your friends marriage that you are never ever going to touch in your life can be stupid decision. Frequency of utilisation also matters along with its utility.
If you are not going to wear it more than once it twice then you can always explore renting a suit in a much cheaper rate which can end up saving you a hefty amount .
- Am I paying the real value or only for the brand name ?
Getting a branded 1 lakh rupees watch which shows the same time that a 5k rupees watch shows just for the sake of its brand value is a big red flag .
95 percent of that 1 lakh is only for that brand name on that watch which is basically a gimmick . Staying loyal to the purpose or utility of a gadget is way much important than being addicted to its brand value .
- Should I invest instead of splurging ?
Buying things that adds a purpose to your life should be considered as an investment. Despite the depreciating nature of many of these assets , if these assets fulfill your requirements for a long period of time then you can always term it as an investment because it stopped you from splurging your hard earned money on frequent replacements or unnecessary upgrades .
Why frugalism is important for a middle class person?
Salary itself won’t sustain you , you also to think outside the box to save money . The money saved via frugalism can be invested for future . This behaviour if continued throughout your life can snowball into a huge corpus for your retirement . The higher the gap between your income and expenses,the better your future will be . And this can be achieved through frugalism .
MIDDLECLASSINVEST 
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