This is Optimal Living Daily, Living Frugally, man loving it by Tyan of tynan.com, and I'm Justin Mollick.

Welcome back to our usual Sunday bonus episode where I share an episode from one of the other podcasts in the Optimal Living Daily network,

usually overlapping with the kinds of themes that come up here.

And this one's coming from Optimal Finance Daily.

You can follow or subscribe to that show wherever you're hearing this. But with that,

let's get right to the post and commentary from Diana as we optimize your life.

Living frugally and loving it by Tynen of Tyneen.com

I've talked before about how important it is to live frugally.

A lot of people probably brush it off because it sounds like too great of a sacrifice or not

relevant to them, but I think that's a mistake.

It is possible to live frugally and to love it at the same time.

In general, that's a key to how I live my life. I try to figure out what the empirically correct

thing for me to do is, and then I convince myself to love it. How much money you should be saving

is hard to determine. It depends on your age, your earning ability, and your goals. I'll say this,

though, there is some way for you to save more than 50% of your income. That number is probably shocking,

as most millennials have a negative savings rate. I'm not saying that you will do it,

or even that you should, only that you can. It's worth considering poor immigrants, many of whom

work minimum wage jobs and still manage to send significant amounts of money back home. Some people

are doing it. You will never be frugal unless you have a good reason to be, a sacrifice requires an

angle. But the problem with saving money is that you don't know

what you'll want or need the money for in the future. The universal benefit of saving money,

though, is that it maximizes freedom. Saving money will pop up options in the future that you can't

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