Contest - How Frugal are Our Steemians?

Hi Steemians,
It's another day of the week and I'm delighted to participate in this contest today organized by @shiftitamanna which talks about How Frugal are Our Steemians? I will be attempting the questions below as a sign of my entry.

I want to believe that all those who are Steemians all over the world would also want to participate in this wonderful contest because it is a contest that is recommended to know how far we have been spending as Steemians.

✅ Are you frugal in spending?

To be frugal means to be wise or not to be extravagant in your spending. So based on the definition above, I will say I'm not frugal in my spending as a Steemian.

I'm a member of club5050 hence whatever I earn, I always save 50% of it. This has helped me to get to the high I am today. I have been able to build my SP to about 1k+ within a very short time.

Steemians who are not frugal can't retain club status and that means they won't be able to participate in most contests because one of the minimum requirements is at least club5050.

✅ How much frugality is necessary in our lives?

I don't think is necessary to measure frugality in our lives and the reason is that we all have plans or a target and we will only get to our target when we are disciplined and ready to work harder.

You are supposed to be frugal about things that are not compulsory or necessary for spending so that you can be able to save a lot. When anything becomes so important you must ensure you do it because that is the essence of saving the money in the first place.

✅ Tell us 3 tips on how to be frugal.

To me, the tips on how to be frugal are the once I'm listing below.

• Always stay satisfied with the little you have no matter what and ensure you don't admire things a lot up to the extent of wishing to have it

• Always know your capabilities and go for things in your capacity. Don't follow those who have more than you in their spending because what they may be spending is just a fraction of what they are saving.

• Always have a way to ensure you are satisfied with no matter how little what you have at the moment. We can not have all that we desire at the moment.

✅ What about the Advantages and Disadvantages of frugality?

Merit of frugality

Frugality has an advantage and to me, one of the major advantages is that it helps you to save for future use or investment. Everyone will need money at some point, hence saving now may solve an issue tomorrow.

Demerit of frugality

As we all know, anything that has an advantage also has a disadvantage, and frugality as a case study is no different. So in my opinion one of the demerits of frugality is that it leads to problems within ourselves or people around us since we find it difficult to give because we are trying to save.

I want to invite @yakspeace, @drhira, and @suboohi, to join the contest in this community and share their entry participation.