077: Thoughts on frugality

As I've learned to manage money over the years, I have found myself going back and forth on the idea of frugality.

In one sense, frugality is great. 
You spend less money, therefore you need to earn less money and it lasts you longer.

On the other side, frugality is stupid.
You put yourself in a scarcity mindset that says "We only have so much money". And you make decisions based on the idea that you will always have little money.
Frugality also prevents you from investing in yourself or your happiness.

Now, it's easy to go to the flip side and start to spend like crazy. 
That's stupid too.

But somewhere in the middle there is a powerful place.

A place where you realize that it's ok to spend money if it will bring you happiness.
And it's ok to spend money if you are investing in yourself, your partner, your team, or your company.

And a place where you can level up your mindset to realize that you can always make more money. 

It's a thin line to walk, but powerful if you can figure it out.

One question I have used to validate a purchase is "Will the amount of money I spend on this purchase give me adequate life happiness?" 

It's a simple question that lets you evaluate if the purchase is worth it.