There have always been frugal people and that will never change. What has changed is the image of frugal minded people by the rest of society. We went from being ‘cheap’ to resourceful. Rather than everyone looking down their noses at money conscious people we’re seeing the media interviewing ‘money saving bloggers‘ and ‘coupon queens‘ as experts in the newly recognized field of Frugality. Successful bloggers have become the gurus of frugality.
We’re all aware that the last several years have shown lower wages and higher unemployment. We watched our homes decline drastically in value along with our personal net worth. Now we are experiencing cost of living increases that are hard to measure. Everything from gas, household utilities to prescriptions are becoming increasingly hard to afford. Groceries are taking a larger percentage of our income leaving all most nothing left for savings and investments.
By the time the average family pays their monthly bills, buys groceries and budgets in the other household expenses there simply isn’t anything left. Things like daycare, insurance and medical expenses are replacing cable and going out as the new luxury expenses.
More and more people realize the only way to survive financially is to earn more money or learn to spend less. Making the dollar work harder is a tough pill to swallow and, for many, is taking a pretty big lifestyle change. Cutting costs here and there are temporary fixes at best. More people are learning to make frugal choices on every aspect of their lives. They are cutting expenses on everything from utilities, transportation, food and entertainment.
The frugal trend is growing out of necessity and social networks like Facebook and Twitter are helping things along. More and more people are coming together sharing money saving ideas, great deals, coupons and even cheap recipes. They are encouraging each other and lending moral support. Tough times bring people together and our tough economic times are no exception. Learning to live within our means by budgeting has never been easier.
I’m not the only one that has noticed the frugality trend and the recognition of the “Frugal Trend” is not new…
- Lynnae of wrote about it before the recession back in November of 2007 with Is Frugal Living the New Trend? And How Our Paper Missed the Mark
- Oink (yes, I said Oink lol) from FrugalPig.com published Frugalality – The New US Consumer Trend?back in May of 2010.
- Back in September InvestorPlace published New Frugal – The Next Big Investment Trend