This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.

Sunday, June 26, 2011

Article: Conspicuously Thrifty

Posted By Paul

There was an article today on the Dollar Stretcher that really resonated with me because it reminded me of one of my very first Frugalize posts (here is the post from several years ago):

Conspicuous Consumption Gone Wrong

I still struggle with the idea of trying to wave the flag of frugality in a world that seems to focus so much more on showing off what you have (whether or not you can actually afford it).

One thing I have noticed is a definite change of attitude since our economy hit a slump. There seems to be a greater appreciation for stretching your dollar. However, I'm disappointed to see a focus on ways to still have a luxurious lifestyle while stretching your dollar, as opposed to the idea of trying to live a simpler lifestyle in general.

I suppose that's no surprise since the most common way I hear about the economic slowdown is in ads that are trying to encourage me to keep spending lavishly despite the situation.

The Dollar Stretcher article was great in that people suggested ways to be proud of their frugality without being overbearing. Several people said how frugality goes hand in hand with modesty, which I thought was a very nice point.

I liked the idea of being 'transparent' where you don't shout your accomplishments from the rooftops, but you do discuss your choices honestly when they come up in conversation.

Also, one of the comments specifically mentioned the book: "The Millionaire Next Door" which I read and reviewed in one of my first posts here:

Review Part 1: The Millionaire Next Door

One thing I have noticed that makes conspicuous thriftiness much easier is having a peer group that also views frugality and savings as something to be admired. I have two really good friends and we're all very practical when it comes to money and spending. It's great having friends who also consider living within your means to be a virtue. We don't try to "out miser" each other, but we also don't enable bad financial behavior.

I've seen people whose peer groups are all terrible with money, and they constantly encourage each other to overspend. It's like each person in the group serves as the "devil on the shoulder" for someone else. Always ready to provide a handy rationalization for a bad financial decision.

I'm sure that if you surround yourself with people who overspend it must feel very awkward to be the one person trying to live a frugal lifestyle.

Anyway here is the full article:

Conspicuously Thrifty

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