“Frugal” and “millionaire” hardly sound like they belong in the same sentence, but they may be more intertwined than you’d think. Millionaires stay millionaires by making good choices with their money, and money coach and self-made millionaire Em knows this.
She recently posted a video on TikTok to acknowledge the judgmental comments she receives on her posts. While some bash her for making more expensive purchases when she calls herself “frugal,” others think she shouldn’t be buying cheaper items when she’s wealthy. There’s really no way for Em to win here, but she continues to post her videos to teach smart money habits to others and help them gain control of their wealth, too.
Since she’s a “frugal” millionaire, viewers comment on the fact that Em wears higher-end brands of clothing, such as Patagonia and North Face coats. She said, “People seem to think being frugal means being cheap or that you can’t own nice things, but it’s about being mindful of what you buy, and personally, I enjoy having a high-quality coat when I live in the rainy, windy, and cold Pacific Northwest.”
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High-quality items can last a lifetime, compared to cheaper items that you may have to replace every few years. This saves you so much more money in the long run. Debt.com supports this approach, saying, “Owning a high-quality, durable product can bring a sense of pride and satisfaction that you may not get from a cheaper, disposable item. Knowing that you have made a wise investment in a product that will last for years can be very rewarding.”
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Whether you have a child or not, everyone knows that childcare is expensive. Despite being frugal, Em hires a nanny to take care of her toddler for about 5-10 hours each week. “Frugality isn’t about deprivation and not being able to enjoy luxuries that add value to your life,” she stated. “I budget for a nanny because I value being able to have time for myself to focus on my passion projects, and it’s within our means.”
The operative word in Em’s statement was budget. She budgets for a nanny because it’s valuable to her. Some people might budget for a cleaning person or for yearly vacations. It’s really no different.
Nannies Matter, a nanny and child care service, noted, “Unlike a babysitter or childminder, a nanny offers a more structured and professional approach to childcare, and assists in children’s growth and development. For many families, having a nanny is a necessity, as it allows them to return from a busy day at work to a stable and happy household.”
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People may wonder why a millionaire would ever shop in the clearance section, but Em shared that it’s about using smart money habits. She doesn’t hesitate to use coupons, shop clearance, and stock up when things are on sale. “Being frugal and shopping clearance and saving money is exactly how we got here in the first place, ” Em explained.
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Many comment on the fact that Em buying clearance items could be taking away from others who need it, but she argues that having wealth doesn’t mean she’s disqualified from buying lower-cost items. She’s always mindful about what and how much she buys, so there is plenty left over for others.
Em participates in her local “Buy Nothing” group, a platform for people to lend or give unneeded things to others. She mainly uses it to give items away or to borrow something instead of having to buy it. Em also avoids claiming any essential items, such as diapers or food.
Not only is this entirely free, but it’s environmentally sustainable too. Rather than throwing out used or unwanted items, someone else in your community may be able to find a better purpose for them. This is a fantastic and easy way to get rid of old clutter and save money on things you’d rather not buy.
Em may be in a different financial bracket than most of the people criticizing her videos, but the truth is, she doesn’t deserve the hate. She used good money habits to build wealth, and now she has the bank account that affords her financial security. She shouldn’t apologize for that, and she shouldn’t apologize for wanting to share her knowledge with others.
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Kayla Asbach is a writer currently working on her bachelor’s degree at the University of Central Florida. She covers relationships, psychology, self-help, pop culture, and human interest topics.
