Several months ago I began to suspect that a new acquaintance had some unusual ideas about money. Her Facebook posts and conversation starters revolved around living a frugal lifestyle and her approach, at least at the time, seemed quite novel. The Great Recession has certainly forced all of us to reevaluate our spending behaviors and tighten up our proverbial belts a few notches. In fact, the National Foundation for Credit Counseling (NFCC) conducted a poll in January that shows many of us are experiencing “frugal fatigue.” Cunningham, an NFCC spokesperson, says that “…66 percent (of respondents), indicated they were tired of pinching pennies… ,” but, “(t)he interesting finding is that more than 20 percent… had implemented financial lifestyle changes that they found to be positive and intended to keep them in place" ("Majority of Americans Have Frugal Fatigue”). I could not find any estimates about how many Americans have adopted extreme frugality, but the 20 percent of respondents in the NFCC’s poll that believe they will continue their frugal ways suggests the number may be very high indeed. At any rate, my new friend talked about her frugality with the same fervor as a religious convert. The only other person I knew who could rhapsodize so joyfully about reused plastic baggies and thrift store finds was my maternal grandmother. I was intrigued and inspired to research this co-culture, or perhaps counterculture, of extreme frugality.
A Brief History
Frugality was once a defining characteristic of early American culture, part of the Puritan value system, but since then it has fallen in and out of favor. The colonists and their pioneering cultural progeny were frugal by necessity and enculturation; wasteful behavior wa...
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...many interesting ways to save money that I began to experiment in my own household. The frugal people are right, seeing your savings even on small items is exhilarating. Now that I understand the best way to approach the topic, I hope to talk to many more people about their frugal lifestyle.
Works Cited
Dacyczyn, Amy. The Complete Tightwad Gazette: Promoting Thrift as a Viable Alternative Lifestyle. New York: Villard, 1998. Print.
Economiser Productions, LLC. America's Cheapest Family. 2003-2011. 1 May 2011 .
"Majority of Americans Have Frugal Fatigue: Significant Minority Found Lifestyle Changes to be Positive." National Foundation for Credit Counseling . National Foundation for Credit Counseling, Feb 2011. Web. 30 May 2011.
newsreleases/Majority_of_AmericansHaveFrugalFatigue.cfm>.
...ghner, 1993). It is the authors belief that consumers are aware of their consumption, as well as realize how wasteful they are with food in general For the students who do not fit into Eighner's wasteful category, he presents a grouping of frugal consumers who, "carefully wrap up even the smallest leftover[s] and shove it into the back of the refrigerator for six months or so before discarding it" (Eighner, 1993).
Martha Stewart is energizing the homemaking marketplace. The home is a key part of the American Dream, Her ideas of housekeeping depart from the long-standing tradition of frugality, where practicality was paramount. She mentions Helen and Scott Nearing's The Good Life in an essay in Martha Stewart's Living April edition. While she enjoys foraging for 'nature's hidden treasures,' she does not share the Nearing's core values. Their idea of getting back to nature is to live lightly-- few things, low energy consumption. Hers is highly technical, wasteful and showy. "Make due with less" is not Martha's motto, it's "Just have more."
In today’s world, people in general like to keep up with the latest things such as gadgets like the iPhone. They tend to spend an ample amount of time on their gadgets or whatever the latest item is instead of dedicating their time to the more important things. During family dinners, everyone is usually on their phones. People may prefer to spend a day at the mall instead of volunteering. High credit card bills can result from spending so much money on the new things rather than paying bills. The social pressure to keep up with these material items has an effect on quality bonding time which has an effect on money. Consumerism actually sets a person against oneself because of the never-ending mission to acquire material objects therefore people should not concentrate their religious faith in materialism.
With the recent studies that show our rational brain can actu¬ally regenerate cells and form new associations and connections throughout life, old patterns of thinking and reacting can be changed, or unlearned, once we are able to adequately identify them. To help support the change to healthier financial behaviors, the authors suggest techniques to identify and rewrite unwanted money habits. They suggest those with financial issues to look for “social support, encouragement, feedback, account¬ability to others, professional facilitation, and advice”, as well as identifying one’s emotions and become attuned to what their body is telling them and prac¬tice belly breathing and mindfulness meditation.
Frugality according to Benjamin Franklin was to "make no expense but to do good to others or yourself,"2 He made sure that everything he spent was for a purpose. Frugality is an important life lesson because financial responsibility becomes a side-effect. Another reason why frugality would be considered important enough to be mentioned in both books is because it is the means to almost all ends; regardless of one's knowing what the ends could be. By being fruga...
“Proper society did not think about making money, only about spending it.”, said Barbara W. Tuchman. This quote shows our real world, and the people that spend money, but they forget about the value of money. Nowadays people want more that they have. They forget how many things they have, and how much money they spend. Most people when they see other people having something better, and in that moment they want to have it also. Also, people forget how hard they got that money, but how easily and quickly they spend it. In the article “The treadmill of consumption” by Roberts, he says that people are willing to go into debt to buy certain products and brands. That is right that people can do crazy things to buy certain goods.
The Millionaire Next Door written by William Danko and Thomas J. Stanley illustrates the misconception of high luxury spenders in wealthy neighborhoods are considered wealthy. This clarifies that American’s who drive expensive cars, and live in lavish homes are not millionaires and financially independent. The authors show the typical millionaire are one that is frugal, and disciplined. Their cars are used, and their suits were purchased at a discount. As we read the book from cover to cover are misconceptions start to fade. The typical millionaire is very frugal in all endeavors and finds the best discounts possible. A budget is implemented daily, monthly, and annually for a typical millionaire. They live by the budget and are goal oriented. Living well below their means is crucial for a millionaire, and discovering ways to allocate time and money more efficiently. The typical millionaire next door is different than the majority of America presumes. Let’s first off mention what it is not. The typical millionaire is surprisingly not the individual with the lavish house worth a million dollars, owning multiple expensive cars, a boat, expensive clothes, and ultimately living lavishly. The individual is frugal and often looks for discounts for consumable goods. The book illustrates the typical millionaire in one simple word: frugal. It is shocking to believe that this is true, but it does make sense. To achieve financial independence is inherently more satisfying and important than accumulating wealth. According to the book the majority of these millionaires portray characteristics of being sacrificial, disciplined, persistent and frugal. In the book it states, “Being frugal is the cornerstone of wealth-building. Yet far too often th...
One morning, he noticed a china bowl on the table one for breakfast. Jefferson stated that he had no knowledge that he or his wife ever purchased this “luxury” item. Jefferson felt embarrassed for having this luxury item and questioned his wife. He really did not get a complete explanation from his wife as to why she purchased such an item, but others soon followed. Phycologist in Mexico documented that living a more frugal and having a more sustainable life can “protect both physical and social environments.” (Corral-Verdugo et al 2011) These same scientists also have studied groups of people that shows that a “sustainable behavior could be indicated by frugal, altruistic and equitable lifestyles can result in enhanced levels of happiness.” (Corral-Verdugo et al
Through out the world, thousand of starving people look wherever they can for scraps of food or spare change. On the other hand, millionaires and billionaires can buy a private jet to fly anywhere on a whim while eating the finest of foods. In the middle, ordinary people work regular twelve-hour days in order to pay the bills and put food on the table. Each person can be in a different category. Most often you can tell which category an individual is in by looking at the things they own. Consumerism, or the push to buy goods and services, is not a new thing. It has been around since the very first sale or trade centuries ago. Although today, controversy has arisen about the rapidly growing rate of consumerism and how it affects the economy around the world. Is the current rate of consumerism a good or bad effect on the economy? Also, what are some ways to help people understand consumerism better? As I do research and explore, I hope to find the answers to these questions in order to understand the issue better myself.
Daniel, Annie S. "Charities." The Wreck of the Home How Wearing Apparel Is Fashioned in the Tenements. New York: n.p., 1905. 624-29. Print.
McCutcheon, Marc. "Clothing and Fashions." The Writer's Guide to Everyday Life from Prohibition Through World War II. Cincinnati: Writer's Digest, 1995. 161-67. Print.
A lot of lessons have been learned this past decade. The biggest lessons Americans have learned about is how to save money, to be more money savvy and not to keep our heads buried in the sand. In truth, we are saving more than ever before, or at least trying to. We, however, have many hurdles and ills i...
The advance in medical technology has extensively sustained the life expectancy and survival rate of humans. Through production and distribution, the 20th-century has built a huge market economy that supports medical research and innovations in surgical technology. In Llewellyn H. Rockwell Jr.’s essay, “In Defense of Consumerism”, he defends the beauty of consumerism and a free-market. Conversely, Juliet Schor argues that consumer spending does not lead to further fulfillment in her essay, “The Creation of Discontent”. Rockwell demonstrates how superficial demands build a wealthier capitol for investments; ultimately, consumer revenue is aiding new technological advancements. By supporting the economy and contributing to consumerism, an exceptional
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