Two Ways to Beat Frugality Fatigue

Here are Two Ways to Beat Frugality Fatigue.

The reality is too many people who embrace frugality to improve their finances take on too much, too soon and end up burning up.

Number 1: Set up targeted savings accounts for specific goals.

If you are living frugally so you can save a large percentage of your income, saving without a tangible plan can get extremely old. This is especially true if you’re not saving for gold that could be a decade or more away like retirement. To help ward off this type of frugality and saving fatigue it can help to set up targeted savings accounts for different goals. Maybe you want to retire early and travel, but you also plan to remodel your kitchen once your kids leave the nest. In that case setting up a few targeted savings accounts for your home remodeling project and future traveling lifestyle could add enough substance to your saving plans to keep you on track.

Number 2: Create a slush fund.

Even if you’re trying to pay down your debt or save up for a big goal it can make sense to have a slush fund for you to spend however you want. If you reward yourself with the occasional want and still hit your goals you may be able to keep up your frugal lifestyle for a longer stretch of time and maybe even forever.

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