Are you also being tagged as “kuripot” by your friends? Don’t worry. There is nothing wrong with it. Sometimes, other people might think that being kuripot is the same as being selfish. But in reality, it has nothing to do with frugality. So yes, you can be frugal and generous at the same time.
3 Things to Understand About Frugality
My frugality started as early as grade school. As the son of a seafarer, there are times that my father will have to wait for several months before returning to work. I have witnessed how difficult our situation during those trying times. It is why I know the value of money at a young age.
Thus, I know you have a reason that drives you to being frugal.
Here are the 3 things to understand about being frugal.
1. They do not buy anything if it is not in the budget
A frugal person does not buy anything that is not part of their budget. But it doesn’t mean that they hate spending money. They just know what to prioritize and stick to the plan.
They also spend money but on things that are only important to them. It can be family vacations and other experiences.
2. The reason behind being frugal
Like what I shared with you, I am frugal because I don’t want to experience financial difficulties again. This is part of my ultimate goal of becoming financially free.
Others have goals to achieve or things to buy. It is like being cheap in some areas to spend in areas that are more important to them. In contrast, some are also frugal so they can buy bigger and better things in life.
3. Frugality and Generosity
Believe it or not, you can be frugal and generous at the same time. Because being frugal is more about spending the money on more important things in life.
A frugal person is not automatically selfish. I know you will agree, most often than not, they are more generous in giving tips, services, tithes, donations, etc. Aside from it, when they give to the church, family, and other people, it always comes from the heart.
On the other hand, some spenders feel like they are generous because they spend too much. Again, in reality, spending money will not equate to generosity.
At the end of the day, money is just a tool. So spend it wisely and do not forget to share it 🙂
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded financial advisor with clients ranging from lawyers, doctors, engineers, accountants, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.