From coronavirus to economic contraction, frugality should be on everyone's mind. A frugal person is someone who likes to live and lead a simple life with the quality of being economical with money or food. S/he does not believe in living beyond his or her means. Practicing frugality has its own set of benefits and advantages. A frugal person prefers to live and enjoy an environmentally friendly life, who has more time to spend on himself or herself and priorities straight. He or she does not demand perfectionism in any aspect of his life, which enables him or her to lead a happy, peaceful, content, and satisfactory life.
Benjamin Franklin, a renowned personality, who was a founding father of the United States and along with that a great writer, politician, scientist, and inventor, also wrote some tips on frugality. The following are his ways of frugality:
Benjamin Franklin was not "against" wealth and the luxuries of life. His only question for the people who used to live a life full of luxuries was how they afforded a life of luxuries without harming others. Now you must ask, how were they harming others?
He believed that the actions of such people were hurting others. His whole idea was around the fact that he wanted people to show some generosity. He preached that one should never waste anything and always do well with others and oneself. His ways of frugality revolved around doing charity to help others. Especially in the times of COVID-19, and economic contraction, it is time to help others and be generous.
BE EXTREMELY FRUGAL, TILL YOU HAVE PAID WHAT YOU OWE
Here Benjamin says that one should never give the power to anyone to have control over you or your liberty. Whenever you ask someone for money or when you owe someone, no matter how less or big the amount is, that person has control over your freedom. So Benjamin believed that no matter how thriftily a person has to live his or her life, even if he has to eat a slice of bread for dinner, he should, till he has paid the person back. Benjamin's ways of frugality revolve around a much-known fact, which is, debt will always ruin a person. One should enjoy life and its fruits peacefully and with no stress and embrace everything that comes with living a debt free frugal life. If it isn't necessary, do not take debt on
HAVE PATIENCE, DON'T BE GREEDY
Benjamin believed that if one has decided to invest in a business or start a new business, then he or she should work extremely hard, both mentally and physically, to make it successful. He should spend hours and days trying to make it flourish no matter how slow or impossible the process they may seem. He says to be hardworking and have patience, both in life and in general. Do not grope at every opportunity that might seem to be beneficial or more fruitful.
Hopefully, these humble tips from poor Richard will help you navigate 2020!