Frugality is about being careful with your money and not spending more than you need to. It's about making smart decisions with your money and not wasting it on things you don't need. Think of it like being a tightrope walker - you don't want to fall off the tightrope, which is why you need to be careful how you spend your money. Frugality means you will plan your spending carefully and only buy what you need. You might even save up and wait to buy something that is a better deal or is more important. Frugality is like budgeting, planning, and saving all in one.