Frugal living indicates prioritize spending money on those things that matter. It is a lifestyle when you cut down all the excess spending from your life. If it is done properly, you might be able to prioritize the things that matter to you most. But being extremely frugal may cost you more at the end of the day.
If you cut down the essential items like entertainment, it may cause frustration. Your life may become hopeless which may create instability in your mind. Then you may need psychotherapy or other treatment that will cost you more in the long run.
Extreme frugality sets up a false standard of living. It is quite hard to sustain for an extended period. We don’t need too many sacrifices to lead a normal lifestyle. You just have to realize what you require and what not. If you find anything which is required for your well-being you have to spend for it. You need to remember that you are earning to live a better life. We all are working hard and spending our money to be happy.
When you are planning for raising a family, it may be difficult to maintain extra frugality. If there is no change in a family situation, you may continue for a certain time. Because spending can increase substantially after a particular point in life.