Frugal Fun Day is celebrated on the first Saturday of October in the United States, encouraging individuals to enjoy activities without spending more than $5. The day promotes the idea that fun does not require significant financial investment, emphasizing frugality in a world where costs are rising. Participants are encouraged to engage in low-cost or free activities, such as hiking in nature, enjoying snacks, watching movies, or playing board games with friends and family. The event was created by Shel Horowitz, inspired by his book "The Penny-Pinching Hedonist," which outlines how to enjoy life on a budget. The goal is to foster a mindset where enjoyment is derived from experiences rather than expenditures.