Frugality is the practice of being economical with resources, especially money, by avoiding waste and unnecessary expenditure. It emphasizes mindful spending, making thoughtful financial decisions, and often prioritizing needs over wants. People who practice frugality typically look for ways to save, reuse, and repurpose items rather than purchasing new ones.
While it is sometimes associated with a minimalist lifestyle, frugality doesn't necessarily mean going without, but rather making the most of what one has. This mindset can lead to financial independence, sustainability, and reduced consumption of resources, contributing positively to personal savings and environmental conservation.