“By sowing frugality we reap liberty, a golden harvest.”

Agesilaus II, King of Sparta

Live in a spacious house, buy whatever you want, be certain about your future and have no limits. Sounds like the dream life we’ve all imagined at least once. What if we told you you could make that dream a reality? How? Frugal living is the answer!

Cheap vs. frugal

You may well protest that “no limits” and “frugal living” can’t go together, but you’d be wrong. Living frugally doesn’t mean living cheaply: it means living rationally — not just looking at the price of a particular product or service, but also at its value. 

We’ve all heard the famous quote, “A miser pays twice”. Sorry, folks, but it’s true. Everyone’s had that experience: you buy the cheap version of a product, thinking that you’re saving money, but before long, it breaks, stops working, becomes useless and you end up having to buy it again. So, it turns out that you can actually save money by spending a little more now for a product of good quality, which will last years and save you those unnecessary expenses in the future. That’s what frugal living is all about.

Be as cool as Ed Sheeran

The tendency to frugality is common in all sectors of society, and celebrities are no exception. One of the most popular singers on the planet, Ed Sheeran, has a net worth of £220 million. In his own words, he allows himself to spend only about £1,000 per month. Who knows, perhaps the redhead cutie has such a high net worth thanks to his frugal living.

Why frugal living?

As an app that takes care of our users’ finances, we at Orca have decided to dig into the concept of frugal living in more detail. So we’ve talked to some cool guys about their lifestyle. Tom and Manolis shared their frugal living insights with us. 

First of all, they say, income isn’t as important as financial literacy and a conscious approach to money. In fact, many of us began to think about this precisely when the onset of the Covid-19 pandemic made us consider starting to invest

Secondly, frugal living is a great instrument for those who want to start to manage and distribute their income wisely. 

Here are a few examples of how to live frugally:

  • Breathe new life into old things. Sometimes, we all want a change, but that doesn’t mean we have to buy new things. Use your imagination, repaint your old furniture, add some interesting decor. This way, you’ll not only save money, but also get to practise some artistic meditation.
  • Coffee lovers, this one’s for you. Instead of spending money on coffee-shop coffee, make it at home. Yes, you might say, “But it only costs £3”, but that “only” becomes £90 by the end of the month. Think about it.
  • If drinking coffee in cafés is your guilty pleasure, and you’re not willing to sacrifice it, at least invest in a reusable cup. Our planet will say a big thank you. What’s more, some cafés will even give you a discount if you bring your own cup. 
  • Continuing with drinks, choose water instead of juices or soda. Firstly, it’s cheaper. Secondly, it’s healthier, which means you won’t spend a fortune on medicine.
  • Keep your investment costs low. Instead of buying a stock twice for £100 each time, think about buying it once for £200 and incurring fewer fees.
  • And finally, rather than putting your excess savings in a bank at a low interest rate, where inflation will eat away at  your savings, why not consider investment? 

Orca is keeping up with the frugal living trend and helps our users to invest wisely. Of course, it’s up to you whether to invest or not, but the frugality approach is well worth a look, if you want to make that dream life a reality


Orca does not provide investment advice. If you have any doubts, you should contact an investment adviser. Terms and conditions apply. Your capital is at risk.

Orca is an appointed representative of RiskSave Technologies Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 775330).

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