3. No loans, minimal borrowing
Frugal people hardly have debts tagging at their incomes. They hardly borrow unless it is extremely necessary and time bound such as a crucial surgery.
Frugal people have other methods or means of footing emergencies other than falling head long into debt that the present economy may not support for obvious reasons. For this reason, they make sure that they have an emergency fund to oversee the unforeseen events that will require financial attention.