Frugality

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fru·gal (frgl). adj.

1. Practicing or marked by economy, as in the expenditure of money or the use of material resources.

2. Costing little; inexpensive: a frugal lunch.

Frugality is the quality of being frugal, sparing, thrifty, prudent or economical in the use of consumable resources such as food, time or money, avoiding waste, lavishness or extravagance. In some contexts it may also be the practice of acquiring goods and services in a restrained manner, and resourcefully using already owned economic goods and services, to achieve a longer term goal.

Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratificationby means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing cost-free options, using barter, and staying well-informed about local circumstances and both market and product/service realities.

Frugal living is practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money.

Tommy started his first online business at the age of 19 which is still going strong to this day. Tommy also owns a convenience store and a modest portfolio of 3 properties.