Contest - How Frugal are Our Steemians?

Hello friends,
It's a pleasure on my path to share with you all my entries in this week's contest which is titled How Frugal Are Our Steemians?, which is organized by @shiftitamanna. It is an interesting contest and I would love to drop my entry ASAP.

source

Before we go ahead I would like to invite @lhorgic, @m-fdo, and @yakspeace to join this contest in this community today and share their participation as well, I do hope to see and read your entries as well.

✅ Are you frugal in spending?

Yes, I'm always very frugal in spending. The Steemit platform has taught me to always learn how to spend less and also have some savings for the future. You will agree with me that every Steemian must learn this principle especially those who need support from the Steemit team.

The Steemit team also wants us to be frugal in our spending and that is the main reason they brought in the club status initiative which helps us to save more than we are earning.

A good example is if you earn 20 SP and 20 Steem on a post, you will have to still power up at least 10 Steem among the ones you earn to remain in club status and remember that the 20 SP is already saved automatically.

✅ How much frugality is necessary in our lives?

Being a frugal person is good but let it not be too much that you will starve yourself or those around you because you want to save money. I say this because some people can become sick because they didn't eat good food with the money they have just because they are being frugal.

So in essence, don't be too frugal that it will affect you negatively. If the need arises for the money you have been saving, make use of it because only those who are alive are the people who will get to enjoy the money whether you like it or not.

✅ Tell us 3 tips on how to be frugal.

In other to be frugal, all you need is to first cut off from unnecessary expenses i.e. things that are not too important. This means that you must know the difference between your wants and your needs and then prioritize them accordingly.

Don't always involve yourself in competition with another person if you want to be a frugal person. The reason is that if you are in any competition, you will always spend on the basis that your friend is also spending which is not a good one.

Lastly, to be frugal, you need to have a plan and then stick to the plan no matter the situation or condition you find yourself. Learn to work in every circumstance as they present themselves.

✅ What about the Advantages and Disadvantages of frugality?

Everything thing that has an advantage also has an advantage and the case of frugality is not a different one. So now let's consider the advantages of being frugal.

The major advantage of being frugal in my little understanding is that helps you to save for the future and also to have a good financial or economic plan that may better your life tomorrow.

On the other hand, the major disadvantage of being frugal is that it may have a side effect on some people who will later become stingy even to themself because of how they have become too careful in spending.

These people look at having fun once in a while as being extravagant because of the mindset they have about spending which will result in stingyness.