During a recession, the frugal are vindicated of their ways which often times seem contrary to cultures norms.
Recessions show just how important it is to be financially independent and a frugal lifestyle is the primary means to achieve financial independence.
If you are a frugal person, recessions are your natural environment. Like a fish in water.
Recessions also alter the difference between frugal and cheap, which is usually defined by your social environment.
Frugal is being wise with your money and not wasting it on things of little value. Cheap is the perception that other people have of you when they feel that you are not paying enough or they feel that you are burdening them with your financial obligations.
The perception of being cheap is usually determined by your friends and family. But during a recession, family and friends are more willing to accept money saving ideas. This means that the frugal are more accepted and the cheap can finally get away with being cheap.
The Frugal Live For Recessions
During a recession, the frugal get to toot their own horn, telling everyone about their frugal lifestyle; because it’s the only time anyone is interested.
The frugal get a chance to show the world the wisdom of their ways. They write books, blogs, get on TV and radio programs. They shine like the only ones that saw the recession coming – whether they saw anything coming or not.
Most frugal people are frugal by nature. If you give a frugal person a million dollars, they are unlikely to change their ways. They are programmed to be frugal. Frugality can be learned, but it is much more effective if it is natural.
Most people will spend as much money as they can get their hands on and that is exactly why an infinite expansion of credit can only lead to an infinite amount of debt (which is the current direction of our nation).
The Frugal Revolution
There are not enough frugal people to go around, to share, to lean on in this recession because many of them have been converted to consumers in the last 40 years of unabated credit expansion. The few frugal people that are left in our society are now in great demand to teach everyone else how to live within their income – or even close to it.
The stability of the US economy has also reduced the need for frugality, causing many natural frugal people to not teach their kids how to be frugal.
Nevertheless, the frugal are gaining momentum, as consumer confidence is at a record low for several months. The frugal are growing in numbers as people that have lost a lot of money or their homes or their jobs, are converting at record numbers.
Converting to a frugal lifestyle is not an easy task. The conversion process includes life altering decisions that are very hard to make and even more difficult to maintain. But the frugal are already living the lifestyle that everyone else is trying to convert to.
Being frugal is much easier in times of recession than in times or prosperity, which is why the frugal live for recessions.
The Courage of the Frugal
The government is unsupportive of frugality because it lowers the amount of money people spend, which lowers the tax revenue they receive and ultimately lowers the amount of money they can spend on government programs.
The government is determined to keep the frugal out of play, minimizing their influence with the promotion of more unabated spending and credit expansion.
All the while, a frugal lifestyle is one of the best solutions to a recession and perhaps the most patriotic thing to do. The frugal are the last to ask for bailouts or handouts or government jobs or any type of government help. The frugal have the courage to face the recession. The courage that the government leaders cannot seem to find.
The frugal are the only ones that seem to understand that debt is something to avoid, not embrace.