Why Are You Frugal?

Posted by Yolander Prinzel on Jan 26th, 2010 and filed under Money/ Frugality. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry from your site

This turkey's no turkey.

This turkey's no turkey.

In our trend obsessed society, it’s sometimes easy to adopt a system of beliefs because… well… everyone else is doing it.

Think about it, going green is easier now that it’s popular because everyone is selling green grocery bags, recycle bins, home composters and rain barrels. But when “going green” falls out of favor it will become more difficult and only those with a die-hard desire to live sustainably will continue.

Right now, being frugal is the cool thing to do. It’s like one-upping society when you find a good deal, score free stuff and sock away a little savings-but it wasn’t always this way.

In boom times, before the world experienced its financial falling-out, keeping up with the Jones’ was the cool thing to do. There was a time when, if your neighbors bought an Escalade, you might counter with the purchase of a Hummer. If your neighbors just put in a pool, you might raise the bar by turning your backyard into a tropical retreat. When home values were rising so fast, people kept refinancing and taking out more, more, more and keeping that 100% LTV. During that era, people who were frugal were looked upon with wonder, pity and not just a little bit of scorn.

This year, as the economy starts to improve, you may notice frugality falling out of favor. I truly believe that the secret to a financially sound future is frugality and I hope you will out your own priorities ahead of society’s and stay frugal—even when you don’t have to.

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