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Home » Living Stingy, Saving Big: Smart Money Habits for a Better Future

Living Stingy, Saving Big: Smart Money Habits for a Better Future

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Ask yourself this, is living stingy that bad? We’re told that being stingy is a negative trait. Moreover, we’re led to believe that plenty of people have issues with stingy people. But are any of these statements actually true?

Living stingy is a matter of choice. And contrary to the negativity it perceives, stinginess will put you on a path to financial freedom, should you do it correctly. Living stingy through smart money habits will help you in many ways. Most importantly, it will save you from worrying about money. Therefore, living stingy equals living frugally.

We aim to educate our readers on how to take charge of their financial futures. Living stingy is one way to make better financial decisions for yourselves. So, our stingy living guide will educate you on why you should embrace the stingy lifestyle and how to live stingily. But first, what exactly does living stingy mean?

What Does Living Stingy Mean?

Living stingy means getting the most out of your hard-earned money. For some, it means not caving into social pressures and spending. For others, it means saving for a better future. With all that said, stingy people get a bad rep for being selfish, constantly cutting costs, and being too right with their money.

But there’s a difference between being stingy and living stingy. Living stingy doesn’t mean not making the occasional sacrifice. Instead, it’s all about being smart with your money, focusing on better money management and financial planning.

Therefore, living stingy can be best explained as a personal finance choice where individuals utilize smart money management habits for a better future.

Why Should You Embrace the Stingy Lifestyle?

If you need convincing as to why you should try living stingy, look no further than the following reasons:

Living Stingy Helps You Better Save Your Money

It’s easy to get carried away with needless spending when money isn’t an issue. But it can also be difficult to desire more when there is none. So regardless if money is or isn’t an issue, stingy living will help you dry the unnecessary desire to overspend on luxuries and stuff you don’t need. The emphasis on saving money is ever-present when adopting a stingy lifestyle and mindset. Therefore, you make it easier to save money for a better future.

Living Stingy Helps You Eliminate Debt

We all have bills to pay and mouths to feed. While some people have it worse than others, it’s no secret that we all get overwhelmed with monthly payments. According to the Urban Institute, the number of Americans in credit card debt is 64 million. But credit card debt isn’t the only debt Americans find themselves in. 

When in debt, it’s difficult to get your finances in check. Furthermore, debt puts a ton of strain on our finances. So eliminating debt becomes a priority for millions of Americans. There are few better ways to do that than to adopt a stingy mindset

Living stingy will help you eliminate debt by preventing you from going overboard with your spending. 

Living Stingy Makes You Financially Healthy

Excess debt and money issues are huge problems on their own. But what happens when an emergency occurs, such as an unexpected medical bill or your car breaking down? Undoubtedly, the last thing you want is to scramble money from friends and family just to make ends meet. 

These situations are “perfect” for testing our financial health. After all, you must find a way to pay for the emergency. So why risk it when you can adopt smart money habits and be prepared for everything life throws at you? Apart from the potential negative stigma, living stingy will make you financially healthy again.

3 Smart Money Habits to Help You Live Stingy for a Better Future

There is a way to be stingy without being cheap. All it takes to make stinginess work is adopting the following smart money habits:

Make a Budget

First things first, if you want to get your finances in check, you must make a budget. A budget is the ultimate financial planning tool, and it’s a crucial aspect of stingy living. A budget will allow an overview of your finances. It will pair your income against your expenses to provide a complete picture of your financial situation. 

Once you know how much of your money goes into what, you’ll know where to cut back and by how much. When creating a budget, make use of the numerous budgeting rules out there. From the 50 40 10 to the 60 30 10 budget and different variations, you can’t live stingy without one. 

Set Your Financial Goals

What do you hope to achieve by being stingy? Do you plan to save for the future, invest your money, or become debt free? While everyone has different goals and reasons for adopting the stingy lifestyle, it’s important to have a clear objective of what you hope to gain from it. 

By setting goals, you have an objective to strive for. That makes it easier to sacrifice luxuries by knowing you’re doing it for a better future. 

Cut Unnecessary Spending

You can’t convince the bank to eliminate monthly payments. But you can convince yourself to cut unnecessary spending. Cutting costs and excessive spending is the ultimate smart money habit that every stingy person has developed. Regardless of the negative perception stingy people get, they’re the best when it comes to saving money on things they don’t need. 

You need to be just as good at that if you want to live stingily. So, look at your budget and find possible areas to cut back on. For example, if you have a Netflix and Amazon Prime subscription, get rid of one of them. When on the subject of subscriptions, look at your subscription list to eliminate all the subscriptions that add little to no value. 

Once you eliminate a few, you’ll be surprised at how much you’ll save on your monthly recurring payments. 

Other Habits to Try

These aren’t the only smart money habits to try to live stingily. Plenty of others are just as good, if not better. So here are additional smart money habits to keep in mind:

  • Scout for deals, discounts, and coupons when shopping
  • Buy groceries and items in bulk from big-box retailers
  • Pack your lunch to work
  • Compare insurance products 
  • Sell stuff you no longer need


Living stingy doesn’t have to mean a bad thing. Quite the opposite, adopting the stingy lifestyle can put you on a fast track to financial independence. By adopting money management habits and tricks, you’ll be one step closer to getting your finances in check. And that’s only possible if you try living stingy. 

How Can I Be Stingy in Life?

By being smart with your money and saving when possible, you can live stingily and improve your financial future. Of course, living stingy doesn’t mean you can’t reward yourself occasionally. But it’s crucial to be smart with your spending.

Is Saving Money Being Stingy?

No, saving money doesn’t equal being stingy. Saving money is completely different from being stingy. While saving is a crucial aspect of living stingy, the latter refers to adopting a mindset that enables you to have a better financial future. 

Is It Bad to be Stingy Person?

Stingy people get a bad reputation for being selfish, constantly cutting costs, and being too right with their money. But a stingy person isn’t a bad person. Quite the contrary, stingy people want to lower expenses for a better future. 

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