I had never heard of the term frugalist until my eldest son introduced me to the website of Mr. Money Moustache.

Meanwhile there are various siblings like the German blogger Geldschnurrbart.

I would not call myself a frugalist in the sense of belonging to a certain group of people or ideology.

But I embrace many of the ideas frugalists have and promote.

Due to our rapid family expansion in our mid twenties, we needed to learn to save as much money as possible only “to survive”.

We lived in a city and did not need a car as a couple.

But when our first son was born, we learned that we can only buy a special brand of dipers at a bargain price in a supermarket at the outskirts of that city.

Since then, I have been living more price conscious or a modest lifestyle.

Or like Wikepedia puts it:

Frugality

For the dietary disposition, see Frugivore.

James Gillray‘s satirical print Temperance Enjoying a Frugal Meal. George III is depicted with patched breeches and a chair covered with protective fabric, eating a simple boiled egg and using the tablecloth as his napkin. Winter flowers fill the unlit fireplace.^[1]

Frugality is the quality of being frugal, sparing, thrifty, prudent or economical in the consumption of consumable resources such as food, time or money, and avoiding waste, lavishness or extravagance.^[2][3][4][5]

In behavioral science, frugality has been defined as the tendency to acquire goods and services in a restrained manner, and resourceful use of already owned economic goods and services, to achieve a longer term goal.^[6]

Strategies

Common techniques of frugality include reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, detecting and avoiding manipulative advertising, embracing cost-free options, using barter, and staying well-informed about local circumstances and both market and product/service realities. Frugality may contribute to health by leading people to avoid products that are both expensive and unhealthy when used to excess.^[7] Frugal living is mainly practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money.^[8]

Philosophy

In the context of some belief systems, frugality is a philosophy in which one does not trust (or is deeply wary of) “expert” knowledge from commercial markets or corporate cultures, claiming to know what is in the best economic, material, or spiritual interests of the individual.^[9]

Different spiritual communities consider frugality to be a virtue or a spiritual discipline.^[10] The Religious Society of Friends and the Puritans are examples of such groups.^[11] The basic philosophy behind this is the idea that people ought to save money in order to allocate it to more charitable purposes, such as helping others in need.^[12]

Benjamin Franklin paired frugality with industry as the key virtues for financial security: “[W]aste neither time nor money, but make the best use of both. Without industry and frugality nothing will do, and with them everything.”^[13] Cicero agreed, arguing that “men don’t understand how great a revenue sparingness is.”^[14]

There are also environmentalists who consider frugality to be a virtue^[15] through which humans can make use of their ancestral skills as hunter-gatherers, carrying little and needing little, and finding meaning in nature instead of manmade conventions or religion. Henry David Thoreau expressed a similar philosophy in Walden, with his zest for self-reliance and minimal possessions while living simply in the woods.^[16]

Corporate world

Frugality has been adopted as a strategic imperative by large enterprises as a means of cost reduction^[17] through engenderment of a philosophy of careful spending amongst the workforce.^[18] Cost reduction is often perceived negatively, be it within a corporate organisation or in society, so inviting each employee to embrace frugality transfers the burden of cost reduction from management to the employee. In doing so, corporations introduce a moral obligation to cost cutting, proposing the notion that careful management of costs is in the company, shareholder and employee’s best interests.

See also

• Anti-consumerism
• Capsule wardrobe
• Conspicuous consumption
• Ethical consumerism
• Extreme Cheapskates
• Financial independence
• FIRE movement
• Frugal engineering
• Garbage picking
• Intentional living
• Miser
• Mottainai
• Overconsumption
• Paradox of thrift
• Price comparison service
• Simple living
• Sustainable living

Source: Frugality, https://en.wikipedia.org/w/index.php?title=Frugality&oldid=1153274398 (last visited May 11, 2023).