Frugality is the quality of being frugal, sparing, thrifty, prudent or economical in the

consumption Consumption may refer to: *Resource consumption *Tuberculosis, an infectious disease, historically * Consumption (ecology), receipt of energy by consuming other organisms * Consumption (economics), the purchasing of newly produced goods for curren ...

of consumable

resources Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their av ...

such as

food Food is any substance consumed by an organism for nutritional support. Food is usually of plant, animal, or fungal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is in ...

time Time is the continued sequence of existence and event (philosophy), events that occurs in an apparently irreversible process, irreversible succession from the past, through the present, into the future. It is a component quantity of various me ...

money Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money ar ...

, and avoiding waste, lavishness or extravagance. In

behavioral science Behavioral sciences explore the cognitive processes within organisms and the behavioral interactions between organisms in the natural world. It involves the systematic analysis and investigation of human and animal behavior through naturalistic o ...

, 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 A goal is an idea of the future or desired result that a person or a group of people envision, plan and commit to achieve. People endeavour to reach goals within a finite time by setting deadlines. A goal is roughly similar to a purpose or ...

Strategies

Common techniques of frugality include reduction of

waste Waste (or wastes) are unwanted or unusable materials. Waste is any substance discarded after primary use, or is worthless, defective and of no use. A by-product, by contrast is a joint product of relatively minor economic value. A waste pr ...

, curbing costly

habit A habit (or wont as a humorous and formal term) is a routine of behavior that is repeated regularly and tends to occur subconsciously.

s, suppressing instant

gratification Gratification is the pleasurable emotional reaction of happiness in response to a fulfillment of a desire or goal. It is also identified as a response stemming from the fulfillment of social needs such as affiliation, socializing, social approva ...

by means of fiscal self-restraint, seeking

efficiency Efficiency is the often measurable ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result. In a more general sense, it is the ability to do things well, successfully, and without ...

, avoiding traps, defying expensive social norms, detecting and avoiding manipulative advertising, embracing cost-free options, using

barter In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists disti ...

, 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. 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.

Philosophy

In the context of some belief systems, frugality is a ''

philosophy Philosophy (from , ) is the systematized study of general and fundamental questions, such as those about existence, reason, knowledge, values, mind, and language. Such questions are often posed as problems to be studied or resolved. ...

'' in which one does not trust (or is deeply wary of) "expert"

knowledge Knowledge can be defined as awareness of facts or as practical skills, and may also refer to familiarity with objects or situations. Knowledge of facts, also called propositional knowledge, is often defined as true belief that is distin ...

from commercial markets or corporate cultures, claiming to know what is in the best economic, material, or spiritual interests of the individual. Different spiritual communities consider frugality to be a virtue or a spiritual discipline. The

Religious Society of Friends Quakers are people who belong to a historically Protestant Christian set of denominations known formally as the Religious Society of Friends. Members of these movements ("theFriends") are generally united by a belief in each human's abili ...

and the

Puritan The Puritans were English Protestants in the 16th and 17th centuries who sought to purify the Church of England of Roman Catholic practices, maintaining that the Church of England had not been fully reformed and should become more Protestant. ...

s are examples of such groups. 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. There are also

environmentalists An environmentalist is a person who is concerned with and/or advocates for the protection of the environment. An environmentalist can be considered a supporter of the goals of the environmental movement, "a political and ethical movement that se ...

who consider frugality to be a virtue 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 man-made conventions or religion.

Henry David Thoreau Henry David Thoreau (July 12, 1817May 6, 1862) was an American naturalist, essayist, poet, and philosopher. A leading transcendentalist, he is best known for his book ''Walden'', a reflection upon simple living in natural surroundings, and h ...

expressed a similar philosophy in ''

Walden ''Walden'' (; first published in 1854 as ''Walden; or, Life in the Woods'') is a book by American transcendentalist writer Henry David Thoreau. The text is a reflection upon the author's simple living in natural surroundings. The work is part ...

'', with his zest for self-reliance and minimal possessions while living simply in the woods.

Corporate world

Frugality has been adopted as a strategic imperative by large enterprises as a means of

cost reduction Cost reduction is the process used by companies to reduce their costs and increase their profits. Depending on a company’s services or products, the strategies can vary. Every decision in the product development process affects cost: desig ...

through engenderment of a philosophy of careful spending amongst the workforce.Woerner, Stephanie L.; "Networked at Cisco", Page 13. Center for eBusiness, Sloan School of Management, MIT, 2001 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.

References

{{Simple living Intentional living Simple living Virtue Waste management concepts *Frugality

Strategies

Philosophy

Corporate world

See also

References