We had a big discussion about what it was that had enlightened us both about practicing thrift, getting out of debt, avoiding debt, getting good deals, driving old cars, or whatever it happens to be on a particular day. I read a commentator’s opinion recently that frugality is simply a trend inspired by a struggling economy and that once the economy recovers, Americans will be back to their free spending ways. In fact, many think that “being frugal is in” whether it’s urban vegetable gardening, thrift store shopping, or rabid coupon clipping. This could be, but in our lives frugality is definitely here to stay.
For us, I think practicing thrift is here to stay because it’s now part of our identity as a married couple. It’s a matter of principle for us at this point. It’s also a matter of what example we are showing our children on a daily basis. We save because there is always something around the corner – college, a vacation, a big car repair, the possibility of purchasing or repairing a home, or a wedding for our daughters. When we decided to be thrifty, it was partly due to an awakening both spiritually and practically, but also it happened because we had been thinking about what America’s problems are. Americans spend more than we have while folks in other countries tend to save more of their incomes (despite their being taxed more heavily).
Are you being frugal simply because you are inundated with negative news about the economy? The reasons for being frugal should be that your money is hard earned and that you want to hang on to as much of it as possible. It is our responsibility to live within our means, regardless of the state of the economy. I enjoy being able to reflect on the changes we’ve made and see that not only have we improved financially, but our quality of life has improved as well.