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Everyone on earth wants to be rich in life but a few can avail of this adjective. Frugality and rich are different words with dissimilar meanings in English Dictionary. But there lies a friendly relationship between the two words. Now come to solve this top-notch question- ‘Can frugality make you rich???’ If you are a committed woman/mom to maintain frugality in every walks of your life and like to add an adjective tag ‘Rich’ with your name in society, I earnestly request you to go through this article from beginning to end. In this article, I will try to unveil a mysterious truth of the topic question-Can frugality make you rich???

1. Understanding the words, ‘Frugality’ and ‘Rich’

The Noun word ‘Frugality’ means the state of being frugal and the proper management of material resources and money. A frugal woman spends her money carefully and wisely, bringing her life worth. By avoiding waste, she can utilize her limited properties ensuring greater success in life. On the other hand, the adjective word, ‘Rich’ means having a great deal of money or assets. A rich woman can lead her life in whatever way she likes with her wealth. But the meaning of the word ‘Rich’ varies from person to person. I think only frugality itself cannot make you rich, but it can help you to be rich in the truest sense of the term.

2. Frugality Helps You Create Financial Margin In Your Life

There is a proverb- “Cut your coat according to your cloth.” I think without having no financial margin in your life, you are sure to spend your money irresponsibly. And this process can make you financially indebted in the long run. You should determine first how much you earn and how much you spend. In this case, if you spend more than you earn, you won’t be able to reach your goal to be rich. If you want to get rich, some frugal habits will help to make a financial margin in life. This financial margin can save you a lot, which paves the way to being rich. So, as a frugal woman, you should have a financial margin to maintain your expenditure strictly.

3. Frugality Helps You Make Better Long-Term Financial Decisions

A frugal lifestyle helps you to make better long-term financial decisions. Practicing frugal habits like building a powerful frugal mindset, planning a monthly budget, making a shopping list, buying groceries from discount supermarkets, buying second-hand items, buying in bulk, etc can accelerate your savings. With these savings, you can invest in more beneficial projects which gives you a decent time value for your money in return. For example, you invest $100 in a business for 10 years, and over time the business provides you with $10000. In this way, you can invest your savings in various profitable functionings that give back you bulk passing over time. So, frugality helps you to make better long-term financial decisions and this process can make you rich by degrees.

4. Frugality Can Help You Find Contentment

A spiritual saying is that ‘Happiness lies in Contentment’ whether you are rich or poor. To speak frankly, you will never obtain absolute peace and happiness on earth with all your resources. If you ever have been able to obtain the whole world, it will not give you pleasure in mind until achieving another one. Because naturally human mind’s desires are infinite and unstoppable. For example, as a simple woman, if are influenced by your neighbors or friends that you need a BMW car to drive or a luxurious apartment to live in, it will destroy your mental peace plus it may drive you to be crazy to adopt dishonest means. But it is said that nobody can get the real meaning of life by adopting dishonesty, because honesty is the best policy to lead a truly peaceful life on earth. So it will be a sagacious decision to remain content with what you belong to. However, you can be contented with your feeling by practicing frugality in all walks of life leaving the extravagant life. Frugality with a strong honest mindset may not make you rich overnight, but this spiritual quality gives you a pure feeling of peace and happiness in your heart as well as the necessary wealth gradually. In this way, frugality helps you to find financial contentment in life.

5. Frugality Helps You Simplify Your Finances

There is a wise saying- ‘Simplicity is the best way of life.’ If you want to get rich, you have to ensure your financial simplicity. Here maintaining frugality in financial life can play the best key to your success on the way to being rich so far, I think. If you cannot afford these: try to avoid living in a luxurious apartment, driving an expensive car, wearing pompous clothes, using glamorous furniture, taking expensive meals outside, buying costly toys for your kids, etc. It is nothing but foolishness or showing off when you depend only on taking a large amount of loan to afford for these what I have mentioned above. You might think that you can lead a very glamorous and happy life by availing of all earthly enriched belongings even being indebted a lot. Truly speaking, the frequent thinking of repaying your loan for this will destroy all peace and happiness in your mind at the end of the day. Instead of being indebted, you can simplify your life financially. Here, frugality can be the key to making you a financially independent woman/mom.

6. Frugality Keeps You Focused On Your Financial Goals

As part of practicing frugality, you must determine your financial goal at first. Nobody can succeed without fixing up his goal. On the way to being rich, you must have a financial goal. It may be short-term or long-term. For example, after 20 years in what financial position do you want to see yourself, and for this how much savings do you need weekly, monthly, yearly plus in what investment will give you more profit, etc? Calculate all financial matters using a calculator. Ensure that you have specific financial goals to get rich and stay focused on them until you get your expected success. I think that your frugality will keep you focused on your financial goals so far.

Final verdict

Can frugality make you rich??? To get the mysterious answer, I have tried my best to explain this by using a lot of words, sentences, examples, and arguments. To sum up, what you have saved according to your financial goals by maintaining frugality in all walks of life must be ensured in proper and profitable investments to get you rich. After a long discussion, I can say that only frugality itself cannot make you rich, but on the way to being rich, frugality can play a pivotal role to a large extent, and I believe it strongly.