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Of course, there are other reasons why people prioritize saving money, too.
I think a lot of this is learned and is a familial thing.
Sometimes, its second nature to save money.
But its also about more than that.
Its about having the freedom to make choices without being constrained by financial limitations.
It was this way for Christensen until it became something more.
Living frugally is about making intentional choices that align with long-term goals, he said.
For me, one of themost effective waysis embracing a minimalist lifestyle.
By focusing on what truly adds value to my life, I avoid unnecessary expenses.
For instance, I prioritize spending on experiences over material possessions.
This not only saves money but also enriches my life with memorable moments, he said.
This practice has also allowed me to explorenew culinary skills, turning a necessity into a hobby.
For Choate, there are quite a few strategies hes implemented over the years.
One example is using automatic transfers to move a portion of my income directly into savings accounts.
This way, I prioritize saving before spending.
He also said he invests in index funds to grow his savings over time.
I also take advantage of loyalty programs and credit card rewards, he added.
Christensen said she simply lives very frugally, which in turn has helped her save even more.
I make my own coffee at home and cut and style my own hair.
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