Frugality (also known as thrift or thriftiness), often confused with cheapness or miserliness, is a traditional value, life style, or belief system, in which individuals practice both restraint in the acquiring of and resourceful use of economic goods and services in order to achieve lasting and more fulfilling goals. Frugality emphasizes economical use of money in meeting long term personal, familial, and communal desires. Some of the main strategies of frugality are the reduction of waste, changing costly habits, suppressing instant gratification by means of fiscal self-restraint, and seeking efficiency.
Sometimes associated with the concept of frugality is a philosophy in which one does not trust, or is deeply wary of, 'expert' knowledge, often from commercial markets or corporate cultures, claiming to know what is in the 'best' economic, material or spiritual interests of the individual.
As part of the Scout Law, an American boy scout is expected to be "thrifty." Frugality is also an attribute frequently attributed people of Scottish ethnicity, Dutch ethnicity, Yankee ethnicityand Jewish ethnicity, whether fairly or not.
External links
- Fifty Possible Ways to Challenge Over-Commercialism by Albert J. Fritsch, SJ, PhD
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