Re-discovering the power of frugality as a nation

The power of frugality – something we need to re-discover as a nation.

This is the need of the hour for all of us. In the face of challenging economic times and unprecedented difficulties, it is discovering the power of small things that will get us through this.

Frugality was the way of life for all of us back in the day before consumerism took over.

Re- visit the Seventies and the Sixties and you will see that frugality was the bedrock on which people planned their lives.

Granted, you will say that the times were different. The needs were different. But yet, there are many aspects of life back then that we can take inspiration from.

But how can we re-discover the simple pleasures of being frugal? Not to say that we need to be cautious and even stingy with everyday things but careful and considerate.

The power of frugality can never be under-estimated.

Today, consumerism drives everything we do.

Eating out, going shopping, spending time and money on frivolous things – we are all guilty of this.

Back in the day, it used to be a special occasion.

People saved up for special occasions so that they didn’t spend money they didn’t have.

Debt was something to be taken only for purposes of building a house or such a life changing investment.

So how can we re-discover the simple pleasures of frugality that are so empowering?

Save for a special occasion –

Don’t be in a hurry to buy everything instantly.

Back in the day, people used to save up for a special occasion like Christmas or a birthday.

They were not in a mad rush to acquire or buy something right now. They didn’t have access to instant credit so they had to savour the emotion of actually buying it.

It was a lot more exciting than today – when the desire to buy something fades when something new comes along.

Eating more home cooked food –

Eating out or ordering food home is no longer a special occasion but an everyday occurrence.

We don’t really know how much we spend on eating out – this cost can be cut easily if you choose to eat at home.

Cooking at home need not be boring Рwith so many varieties of dishes available on YouTube, you can easily find healthy, easy and  convenient dishes to be made at home.

Eating out is expensive – and can be savoured for a special occasion.

Choose needs over wants –

Many of us don’t know the difference between wants and needs today.

Wants are what we don’t really need but are often tempted to buy as yet another acquisition – of convenience, power or simply to feel good.

Needs are what we need for everyday living – needs are important and must be met.

When you understand the difference , it is easy to manage various needs and wants that often eat into our budgets and way of life.

Focusing on the needs will help us manage money better – wants are important too but not as an everyday indulgence.

For too long, we have nurtured our wants and time has perhaps come to be able to understand how frugality can help us re-discover the old world values of patience, waiting for something special and understanding the greatest picture of meeting needs over wants.

The power of frugality – the need of the hour.

 

 

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