What is frugality?

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What is frugality?

By thorgal on May 11, 2009 | In General | Send feedback »

More and more people are using frugality to escape the economic crisis, and to reduce the amount of waste that our materialistic system is producing.

According to Wikipedia, Frugality is the practice of acquiring goods and services in a restrained manner, and resourcefully using already owned economic goods and services, to achieve a longer term goal.

Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing free (as in gratis) options, using barter, and staying well-informed about local circumstances and both market and product/service realities.

Frugality in the context of certain belief systems, is a philosophy in which one does not trust, or is deeply wary of “expert” knowledge, often from commercial markets or corporate cultures, claiming to know what is in the best economic, material, or spiritual interests of the individual