Why Live Frugally When You Have Future Prospects?

Some people were born gifted with the frugal mentality (not me), some people were forced into pinching every penny (not me), some people came to the sudden realization that when she graduates in two years she’ll have $50,000 in college loans and $15,000 (and mounting) in credit card debts (me), and some people are considering the frugal lifestyle and just need some more information.

But, at this stage in our lives when we have the whole world at our feet and our earning years ahead of us, why live frugally? Let’s consider several reasons why.

  • You were born to it. Well, good for you! Be proud, be happy, and be generous in sharing your tips and knowledge with the rest of us.
  • You have to. For any number of reasons, you have to live frugally to survive. Perhaps the financial aid office didn’t give you enough money this semester and you’ve already maxed out your credit cards. Perhaps an emergency wiped out all your monetary sources. Perhaps you spent too much at that last vacation in Cancun. Whatever the case, do not despair. Eventually, the hard time will pass you by and, in the meantime, this website will give you tips on how to survive the worst of it.
  • You realized that your total debt is more than your First Real Job potential income. Congratulations, you are in an excellent position. You will (you hope) have income and you have the added advantage of developing frugal habits and thought patterns that can only serve you well in the future. This website will help you get into the frugal mindset, get out of debt, and start enjoying life.
  • You are considering a frugal lifestyle. Wow. I admire you. Making the decision to live frugally when all of your friends are planning to go to Cancun or Mammoth Mountain for winter break is tough. You may feel alienated, left out, and deprived. But don’t! Think of the advantages that you will gain. No fear of not having money when you need it. No stress from doing something you don’t want just because your friends are. No debt to give you nightmares. Time and peace of mind to concentrate on your studies, friends and family. This website is here to support you. So go ahead. Choose to live frugally. You won’t regret it, I can (almost) promise you that.
  • Your future prospect isn’t so rosy. The economy is on the down swing and you, poor thing, chose the wrong field to study. Now, instead of that $60K job, you are actually looking at a $25K future…and you still have the mounting credit card debt load. Don’t worry yet. With a few adjustments, you’ll have that debt paid off in a few years and no matter the future income, you will still be able to live within your means and live comfortable lives. Trust me on this one, I’ve done calculations.
  • You have new family to think of. Eeck! I run from commitment like the plague but you’ve chosen the route of no-return. Now, you’ve got adult responsibilities, two futures to consider, and you still have to finish your college career. No problem. I’ve got a college friend with a three years old daughter, full class load, and no job. She lives frugally of necessity (financial aid doesn’t cover nearly enough) but she’s happy, loves her studies, adores her child, and is generally doing very well for herself. You can do it too.
  • I‘m sure there are more reasons for choosing to live frugally just as there are many reasons for living a high consumption life, but I am sure that once you start living frugally, you will never look back. The skills and advantages you will gain as a frugal college student can very well mean that you get to retire at the age of 40 when all your friends are still trying to pay off their school loans. Just think about that.