Frugal isn’t a common word used to describe people who identify as LGBT. Often times, LGBT individuals are seen wearing the trendiest fashions, traveling to most exotic locales and dining at the newest and hottest restaurants. Gay entrepreneur and publisher, Joey Amato spent the last few years trying to change his spendthrift lifestyle and instead live a more frugal life, saving for early retirement in the process. With 4 credit cards and tens of thousands of dollars of debt, he made it a goal of living debt free by 2020. As a result, frugayity was born.
“I started frugayity to teach members of the LGBT community that it’s okay to live frugally and yet, still live a wonderful and fun life,” states Amato. “A lot of the advice I give is obvious, but yet many of us refuse to live by these guidelines due to societal fears or rejection. We are often judged by others and more importantly, overspend just so we can fit in or get that perfect photo for social media. I hope my stories inspire others to change their buying habits and take the steps needed to get on a path to financial independence.”
Frugayity covers a variety of topics including stock market investing, buying a home, grocery shopping, budget travel and more. The website contains easy-to-understand articles - all under 5 minutes in length - which talk about many aspects of gay life and how it relates to a person’s financial stability.
“I really hope that people use the website as a resource, in the same way they would use Success, Forbes or CNBC,” Amato states. Frugayity will publish new content multiple times per week and encourages reader feedback and questions related to personal finance.