Here's the 2 things to you need to understand to start frugal life.
1. Quality
Quality of product is always ignored when we see a cheaper product. But cheap doesn't always mean that it is not expensive.
Buying cheaper product should not be your first standard. Putting Quality as your basis in spending for something is a must. Buying a cheap pair of shoes that cost PHP.300 is not that good if you have to replace it every 6 months. But a PHP.1000 pair that will last for 3 years will create a big difference.
2. Utility
Spending is not always a negative it is sometimes an addition to your asset. Maximizing the utility of your money should be your priority when it comes to spending for something you need or want. For new model of mobile phone, if the benefit you will get for buying the new model is equal or not greater than the old model buying will not be a wise decision.
A sale can also be a great thing when you're trying to cut your spending but buying things on sale when you don't need it will eliminate its benefit. A price is always high when you don't need it.
By taking Quality and Utility into consideration every time you try spend will benefit you greatly. It doesn't only make you cut your expenses but it also allows you to make the most out of your money in the long run.
A sale can also be a great thing when you're trying to cut your spending but buying things on sale when you don't need it will eliminate its benefit. A price is always high when you don't need it.
By taking Quality and Utility into consideration every time you try spend will benefit you greatly. It doesn't only make you cut your expenses but it also allows you to make the most out of your money in the long run.