Living stingy might not sound like the most glamorous lifestyle. In fact, most people associate the term with being cheap, skipping out on fun, or pinching pennies until they scream. But it doesn’t have to mean sacrificing joy or depriving yourself. In fact, it can be the gateway to financial peace, clarity, and freedom.
At its core, living stingy is about spending with intention. It’s learning to say “yes” to what truly matters and “no” to the things that drain your wallet and don’t bring lasting value.
Here’s exactly how I embraced this mindset, and how you can too.
What does living stingy actually mean?
Stingy means not generous or liberal, sparing or scant in using or spending. It is one of the least flattering words that can be used to describe someone and it associated with quite a negative stigma.
But what if I were to tell you that when it comes to personal finance, stinginess, in every positive angle of the word, could actually be the difference between you retiring comfortably or having to work well into your retirement years.
It could be the parachute that could save you from endless (and mindless) spending on things that add no value to your life. It could even save you tons of money!
So, let’s clear up the confusion. This lifestyle isn’t about hoarding every dollar or avoiding generosity. It’s about being selective, intentional, and resourceful. It’s the process of being mindful of what you spend your money on as well as the act of thinking critically about the amount of time you invested working so you can make a specific purchase.
It’s asking questions like:
- “Do I really need this?”
- “Is this purchase aligned with my goals?”
- “Am I buying this out of habit or emotion?”
For me, it looked like rethinking my daily habits, my spending triggers, and my goals. It wasn’t about never buying things, it was about learning about frugality and how to spend smarter. And the results? More money in the bank, financial independence, and financial peace of mind!
That said, here’s exactly what I did to leverage living stingy to create mindful spending habits.
1. I asked, “Does this spending spark joy?”
This simple question saved me from hundreds of impulsive purchases.
In the past, I’d buy things on a whim. A trendy top from a social media ad, another skincare product I didn’t need, or yet another journal I wouldn’t use. But most of those purchases ended up forgotten.
Now, I pause. I ask myself, “Will I still be using this a month from now? Six months? Will I even care?” If the answer is no, it stays in the cart (or never makes it there at all).
Living stingy taught me that joy doesn’t come from having more, it comes from being content with enough.
2. I created a budget I could actually stick to
When I started living stingy, budgeting became my best friend. But not in the old-school, restrict-everything kind of way. Today I create a monthly budget that reflects my actual lifestyle.
That means:
- Including a small “fun money” category including saving up for my luxury purchases
- Budgeting for eating out once a week (instead of five times)
- Automating my savings so I didn’t forget
This approach doesn’t mean never enjoying your money. It means being the one in control of how it’s spent.
3. I set financial goals that motivated me to stay on track
Living stingy gave me the clarity to define what I was really working toward. I wanted an emergency fund. I wanted to pay off credit card debt. I wanted to travel without guilt.
When those goals were clear, spending money on things that didn’t serve them became easier to skip.
I remember almost buying a new designer bag during a sale. I wanted it badly. But then I asked myself, “Will this move me closer to financial freedom?” It didn’t. So I passed, and later used that same money to knock out a chunk of credit card debt.
4. I decluttered and sold what I didn’t need
Living stingy also meant rethinking the stuff I already owned. I had clothes I never wore, gadgets I’d forgotten about, and books I never opened.
One weekend, I did a major cleanout. I sold gently used items on Poshmark and Facebook Marketplace, earning a few hundred dollars. The rest I donated.
The experience taught me two things:
- I’d spent way too much on things I didn’t need
- I didn’t want to make that mistake again
Now, when I shop, I always think about how I’ll use the item long term, or whether it’ll just end up in another donation bin.
5. I became more intentional with my time
Living stingy isn’t just about money, it’s about resources, including time. I used to spend hours scrolling shopping apps, watching influencer hauls, and browsing online sales for fun.
Now, I fill that time with things that cost little or nothing but bring real value: reading, journaling, walking, cooking, learning a new skill.
When you protect your time like you protect your wallet, you start to build a life that feels fuller—without buying more stuff.
6. I cooked more and ate out less
Food used to be one of my biggest expenses. I’d order takeout multiple times a week and justify it by saying I was too tired to cook.
But once I started being more mindful, I got real about those habits. I learned to meal prep simple recipes I actually liked and started planning my grocery trips.
I didn’t cut dining out completely. I just made it an intentional treat. Cutting back even one restaurant meal a week added up to serious savings over time.
7. I paid myself first
One of the biggest behavior and mindset shifts in my stingy living journey was learning to pay myself first. I stopped saving “whatever was left” at the end of the month and started moving money to savings as soon as I got paid.
I set up an automatic transfer to a high-yield savings account so I wouldn’t even have to think about it. Even if it was just $25, I did it consistently.
Over time, that habit became second nature, and my savings started growing faster than ever.
8. I saved every windfall
In the past, when I got a bonus or tax refund, I spent it right away. New clothes. A weekend trip. Fun stuff, but nothing lasting.
Living stingy shifted how I viewed those windfalls. Instead of splurging, I used that money to pay off debt, grow my emergency fund, or invest in my future.
When I got a $2,000 refund one year, I used it to pay off my smallest credit card balance. The relief I felt was so much better than anything I could’ve bought with that money.
9. I became a smarter shopper
I didn’t stop shopping completely—but I got way better at it. Now, I:
- Wait 24 to 48 hours before making non-essential purchases
- Check my budget before clicking “Buy”
- Shop preloved for certain things (I love good thrift stores)
- Look for quality over quantity
- Use coupons
Living stingy isn’t about being cheap, it’s about being strategic. It’s about making your dollars go further by making smarter decisions.
Expert tip: Create a “value-based spending list”
One of the most effective ways to stay committed to living stingy is to create a value-based spending list—a personal guide that outlines the things you do want to spend money on guilt-free because they align with your goals, values, and lifestyle. This helps you cut spending on things that don’t matter and still enjoy what does.
For example, I prioritize travel and self-care essentials, so I budget for those intentionally, even while cutting back in other areas like takeout or impulse shopping. This approach keeps me motivated and prevents burnout because I’m not depriving myself, I’m being purposeful. Revisit your list monthly and adjust it as your goals evolve.
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Why you should consider living stingy
Living stingy will open doors for you that you might not realize are within your financial reach. It will help you set boundaries around what truly matters and weed out time-wasters. It will also help you to really pause and think about what makes you truly happy and fulfilled.
Almost no one would pass up the opportunity for an all-expenses-paid trip to Australia for vacation. However, if you asked those same people if they could pull it off based on their finances, most would say no.
What many people don’t realize, though, is that having a defined goal (i.e., a trip to Australia next December) and mindfully working towards it (i.e., cutting out wasteful spending on clothes and unnecessary subscriptions) could really help in making this dream a reality. It just takes a little effort.
If you’ve been standing on the outside looking in at the world of personal finance, why not take the first step today? It’s never too late to begin.