Frugality: The (Cool) New Kid on the Block

The notion of the “American Dream” has taught us that working hard is the key to prosperity and ultimately happiness. While certain aspects of the American Dream like freedom of speech and the right to own property no longer come with a cost, the “mansion on the hill” portion sure does. Millions of Americans wakeup to a screeching alarm clock every morning to go to work. Why? Beyond the obvious reasons such as providing for yourself and your family, many go to work looking to improve their standard of living. The problem is that no matter what level of comfort you attain, there is always one more level taunting you from above, dangling it’s treasures above your head until you work to attain it.

As a result of the recent economic collapse, people seemingly have caught-on to consumerism’s nasty side effects. The proof? A recent Gallup poll showed that 62% of us would rather save money than spend it, up significantly from 48% of us in 2001. Frugality seems to be making a comeback in the midst of a society who equates “happiness” with spending. Heck, there’s even a national movement to resurrect the ancient “National Thrift Week“. While we hope the trend is here to stay, history tells us otherwise. However, we’ve uncovered a golden nugget that just may convince you that frugality is a bandwagon you can’t afford to pass-up.

We believe most American’s deepest desire is for time. Time with friends, your family, alone, on vacation, relaxing, or doing something they enjoy. After all, that’s why we work so hard, right?. We figure the harder we work, the better job and more pay we’ll receive, and as a result we’ll be able to purchase time. While the motive may be respectable, the method is way out-of-whack.

While in theory you can “buy” yourself time if you become successful enough to pay someone to run your company or by retiring with a fortune, a very small percentage of people actually attain that level of wealth. And when I say “small” I mean a percentage close to 0. So if attaining this level of comfort is nearly impossible, than what’s the solution to buying more time?

The solution is frugality. Spending less, saving more.

Spending more money not only complicates your life but robs you of your most previous commodity: time. Not only does spending more money require you to work harder, but it requires you to spend more of your time managing all of the stuff you’ve acquired, not to mention the mental and emotional toll. So instead of spending your whole life pursuing a salary that will “allow you to do the things you really value”, start doing them now.

Spending less money will actually create more time for you to pursue the things you really care about. If you spend your money on things you actually need, you won’t have to spend time working a double shift to pay for the things you don’t. You’ll end-up with more time to do the things you actually value. While frugality isn’t necessarily cool, it bares the precious gift of time, something that’s free to spend and accepted everywhere.

While the upside is attractive, we suspect the slave driver Sir “Spend-A-Lot” will haunt you in your sleep, taunting you with the newest sports car, electronic device, or designer outfit. In those moments of weakness, ask yourself a simple question: “Do I want to forfeit future time with my friends, family, or my interests by purchasing this item here and now?”. We think this frugal perspective will change the way you categorize “needs” and “wants”. In fact, we guarantee it.