Who Am I? I am Binit, and I go by the moniker Mr Money Frugal, and also the founder of mrmoneyfrugal.com.
You might be thinking, Why would anyone call themselves Mr. Money Frugal? Well, my reason is quite simple - I believe money is a simple tool to fulfill the basic needs of life, rather than a means to fulfillment, or satisfying deep and entrenched wants and desires.
My philosophy about money is minimalist. I am not ashamed to admit that I do not take money beyond a necessary convenience. So, get it and use it for the tool it is, but never lose sleep about it.
Do not get me wrong, you should be wealthy. But listen to me, you can measure just about how much of a hold money has on you by primarily how you spend it.
This same awareness is what helps people invest wisely too—whether through disciplined planning with a SIP calculator or building long-term understanding inside a mutual fund learning platform. Spend it on clothing, shelter, and food, the three basic needs of man.
Again, buy the cloth that will cover you up; build or rent a house that provides security and shelter from the elements, and finally, eat what will make you healthy and nourished.
However, we live in a world where money is used to transact the much deeper needs of men, hence why many squander their hard-earned cash.
Designers' clothes for a sense of worthiness, castles and mansions to feel better than others. Expensive trips to impress a world that cares little about them. This, in essence, is not frugality.
A key aspect of frugality is how much people spend on food. And in this case, I am talking specifically about the perception of the difference between street food and restaurants.
I share in this writing my own view on what is frugal, and a money saver for travelers, based on my own experience a couple of years ago.
My Trip to Udaipur, Rajasthan In 2021
I made a trip to the historic city of Udaipur, located in Rajasthan. A beautiful city abundant in luxury and a vibrant nightlife. She also has her abundant share in facilities and amenities that cater to the average and the poor.
Think of it as any capital city in India. For the few nights I was in the city, I lodged in a five-star hotel- Ramada by Wyndham Udaipur. This is a beautiful hotel, with a very unique architecture, and it is spread over a large expanse of well-landscaped land. You could see the magnificent sajangarh palace from the hotel.
Now, back to my being frugal, why would I choose to stay here? Well, because it suited my needs.
It was an easy decision, one made from a clear understanding of my basic need for shelter, as well as a knowledge of my finances.
I say this to dissuade any wrong perspective of my being frugal as being cheap.
So, with shelter now catered for, and I now settled, it was time to handle eating. First, it is fair that I mention that breakfast was complimentary. However, I was shocked to find out how much it would cost to take lunch or dinner at this hotel. Well, ‘shocked’ might be an exaggeration, since this was a five-star lodging. Still, I couldn’t believe it.
Seeking Street Food
And so, I did what I do best, dressed up and hit the streets. My target—street food.
If you are one of those who shriek at the mention of street food, I plead with you to read on. We are now at the core of why I wrote this piece.
First, let me address the elephant in the room, which is the irony of lodging in a five-star hotel but going out to eat. But, is it really an irony? I doubt it. I call it adapting. The ability to adapt is the ability to survive.
Many people’s finances become train wrecks because they are poor at adapting—whether in their lifestyle or when navigating opportunities like those tracked through an IPO calendar.
Frugal people know how to manage their experiences.
Think about it. Sudha Murty, the accomplished author and philanthropist, and wife of Infosys co-founder N.R. Narayana Murty, wears simple attire, such that she is often mistaken to be unrefined by certain people, even below her class.
The same thing can be said of Ratan Tata and Rajnikanth, the legendary South Indian superstar, among others, who, despite their wealth, enjoy simple things.
The only irony I see is the poor who are trying to look rich, spending a disproportionate amount of money on overly expensive things they cannot afford, while looking down on themselves for being surrounded by simple things.
This happens in investing too—people chase hype without understanding fundamentals, especially in areas like IPO GMP trends.
The Price Difference Between Street Food And Hotel Food
So, I left my luxurious hotel room and embarked on a mission to get great food at a reasonable price. My search took me on a journey from Udaipur to Jaisamand Lake. Yes, I was that serious. And, boy, did I get what I wanted.
Lined along the road paths, and certainly into the inner crevices of the markets were tens, and if not hundreds of culinary experiences, rich in taste, artistry, and delicacies that I could term ‘food heaven’, and the best part of it, they were priced right.
If you found me eating in one of the stalls, you would readily dismiss me. It would give some a headache if they saw me the next day emerging from my luxurious hotel room.
You might be wondering what the price difference is like between the food being served at the hotel and the street food I bought. You can never guess. The hotel food costs TEN TIMES more than the street food.
The same shock many first-time investors feel when checking whether they even received shares after applying—something they can instantly verify on our IPO allotment status page. I am talking about the same dish, with little or no difference in taste and quality. These roadside dhabas are lifesavers.
Now, do not get me wrong, I will not discount the way the food is presented in the hotels, but at the end of the day, I simply want to eat, to get nourished.
This is my need. Perhaps on another occasion, my need might be the beauty of how food is presented, but on this trip, I wanted food, for the sake of food.
Street Food and Adventure
So, think about it, having to pay 10x for the same food you can get outside of the hotel. Do not get me started on the thrill of seeing the city.
What other way to have a fulfilling trip visiting a new place, whether for work or for business, than going around the city, seeing its people and eating their food?
What is the alternative? Staying locked in a hotel room and using a car service, with windows rolled up, going back and forth from work. Where is the adventure in that?
At the end of my trip, I felt fulfilled and refreshed. I had great lodgings, experienced luxury, and ate some of the best foods the city of Udaipur had to offer.
I did all of these without compromising on my philosophy of being frugal.
This same philosophy is also what helped me build online income assets, which I now teach inside my make money blogging course. It was indeed a trip I can never forget.
