The Virtue of Being Frugal

Being frugal doesn’t mean being stingy—it means being wise. It’s the ability to distinguish between what’s essential and what’s merely flashy. It’s about valuing resources, spending with purpose, and resisting the constant pressure to consume. Frugality allows us to live within our means, reduce stress, and focus on what really matters: experiences, values, and peace of mind.

A True Story: Ronald Read, the Janitor Who Left Millions

Ronald Read was a Vermont janitor and gas station attendant who lived frugally his entire life. He patched his clothes with safety pins and never flaunted wealth. When he died in 2014, he shocked everyone—he left over $8 million to a local hospital and library. He had quietly invested and saved over decades. He lived simply, gave generously, and proved that frugality—combined with patience—can build astonishing wealth and impact.

Three Quotes from Books on Frugality and Simple Living

In Your Money or Your Life (1992), Vicki Robin wrote:

Frugality isn’t about saving money—it’s about aligning your spending with your values so you can live with more meaning and less regret.

~ Vicki Robin

In The Millionaire Next Door (1996), Thomas J. Stanley revealed:

Most millionaires live well below their means. They are frugal not because they have to be—but because it’s how they became wealthy in the first place.

~ Thomas J. Stanley

In Walden (1854), Henry David Thoreau stated:

I make myself rich by making my wants few.

~ Henry David Thoreau

Five More Real Quotes on the Power of Frugality

From a 1748 letter, Benjamin Franklin advised:

Beware of little expenses; a small leak will sink a great ship.

~ Benjamin Franklin

In an 1894 essay, Booker T. Washington wrote:

Economy is half the battle of life; it enables us to make the most of what we have, and shows respect for the work that earned it.

~ Booker T. Washington

In a 2007 interview, Warren Buffett said:

If you buy things you don’t need, soon you’ll have to sell things you do. I’ve always tried to live a life that’s a little under my means.

~ Warren Buffett

In Letters from a Stoic, Seneca noted:

It is not the man who has too little, but the man who craves more, that is poor.

~ Seneca

In a 2015 blog post, Mr. Money Mustache wrote:

Frugality is not deprivation—it’s the highest form of self-respect. It’s the discipline that buys you freedom.

~ Peter Adeney (Mr. Money Mustache)

Life Lesson:

Being frugal is not about denial—it’s about freedom. When we spend less than we earn and avoid excess, we create space for generosity, resilience, and long-term happiness. Frugality protects us from debt, distraction, and dependence. It makes us mindful of what really brings joy—and it’s rarely stuff. A frugal life is not a small life. It’s a strong life. A life rich in meaning, not possessions.