Frugality is the quality of being frugal, sparing, thrifty, prudent, or economical in the consumption of resources such as food, time or money, and avoiding waste, lavishness or extravagance.[2]
James Gillray's satirical print Temperance Enjoying a Frugal Meal. George III is depicted with patched breeches and a chair covered with protective fabric, eating a simple boiled egg and using the tablecloth as his napkin. Winter flowers fill the unlit fireplace.[1]
In behavioral science, 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.[3]
Common techniques of frugality include reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, detecting and avoiding manipulative advertising, embracing cost-free options, using barter, 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.[4] Frugal living is practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money.[5]
Philosophyedit
In the context of some belief systems, frugality is a philosophy in which one does not trust (or is deeply wary of) "expert" knowledge from commercial markets or corporate cultures, claiming to know what is in the best economic, material, or spiritual interests of the individual.[6]
Different spiritual communities consider frugality to be a virtue or a spiritual discipline.[7] The Religious Society of Friends and the Puritans are examples of such groups.[8] The philosophy behind this is that people ought to save money in order to allocate it to more charitable purposes, such as helping others in need.[9]
Benjamin Franklin paired frugality with industry as the key virtues for financial security: "[W]aste neither time nor money, but make the best use of both. Without industry and frugality nothing will do, and with them everything."[10]Cicero agreed, arguing that "men don’t understand how great a revenue sparingness is."[11]
There are also environmentalists who consider frugality to be a virtue[12] 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 expressed a similar philosophy in Walden, with his zest for self-reliance and minimal possessions while living simply in the woods.[13]
Corporate worldedit
Frugality has been adopted as a strategic imperative by large enterprises as a means of cost reduction through engendering a philosophy of careful spending amongst the workforce.[14] 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 that careful management of costs is in the company, shareholder, and employee's best interests.
See alsoedit
Wikiquote has quotations related to Frugality.
Look up frugal or frugality in Wiktionary, the free dictionary.
Anti-consumerism – Opposition to excessive systemic buying and use of material possessions
Capsule wardrobe – Collection of clothing items that do not go out of fashion
"frugal". Century Dictionary Online. Retrieved 15 April 2011.
Macdonald, A.M., ed. (1972). Chambers Twentieth Century Dictionary. Chambers.
Oxford American Dictionaries (computer application). Apple Computer. 2005.
Woolf, Henry, ed. (1980). Webster's New Collegiate Dictionary. Springfield MA: Merriam. ISBN0-87779-398-0.
^Lastovicka, J.L.; Bettencourt, L.A.; Hughner, R.S.; Kuntze, R.J. (1999). "Lifestyle of the tight and frugal: Theory and measurement". Journal of Consumer Research. 26: 85–98. doi:10.1086/209552.
^Rose, P.; Toney Smith, S.; Segrist, D.J. (2010). "Too cheap to chug: Frugality as a buffer against college-student drinking". Journal of Consumer Behaviour. 9 (3): 228–238. doi:10.1002/cb.314.
^Gorman, C (1990). The Frugal Mind: 1,479 Money Saving Tips for Surviving the 1990s. Nottingham Books.
^Child, Hamilton (1867), "How to Succeed in Business", Gazetteer and Business Directory of Ontario County, N.Y., for 1867-8, p. 91
^Austin, Richard Cartwright (1990). Environmental Theology. Creekside Press. p. 169.
^Mecklin, John M. (1920). An Introduction to Social Ethics, The Social Conscience in a Democracy. Harcourt, Brace and Howe. p. 254.
^Watkinson, William L. (1908). Frugality in the Spiritual Life. F.H. Revell company. p. 7.
^Thoreau, Henry David (1910). Walden. T.Y. Crowell & co. p. 184.
^Woerner, Stephanie L. (2001), Networked at Cisco, Center for eBusiness Teaching Case 1, MIT Sloan School of Management
October 30, 2023
frugality, dietary, disposition, frugivore, quality, being, frugal, sparing, thrifty, prudent, economical, consumption, resources, such, food, time, money, avoiding, waste, lavishness, extravagance, james, gillray, satirical, print, temperance, enjoying, fruga. For the dietary disposition see Frugivore Frugality is the quality of being frugal sparing thrifty prudent or economical in the consumption of resources such as food time or money and avoiding waste lavishness or extravagance 2 James Gillray s satirical print Temperance Enjoying a Frugal Meal George III is depicted with patched breeches and a chair covered with protective fabric eating a simple boiled egg and using the tablecloth as his napkin Winter flowers fill the unlit fireplace 1 In behavioral science 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 3 Contents 1 Strategies 2 Philosophy 3 Corporate world 4 See also 5 ReferencesStrategies editCommon techniques of frugality include reduction of waste curbing costly habits suppressing instant gratification by means of fiscal self restraint seeking efficiency avoiding traps defying expensive social norms detecting and avoiding manipulative advertising embracing cost free options using barter 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 4 Frugal living is practiced by those who aim to cut expenses have more money and get the most they possibly can from their money 5 Philosophy editIn the context of some belief systems frugality is a philosophy in which one does not trust or is deeply wary of expert knowledge from commercial markets or corporate cultures claiming to know what is in the best economic material or spiritual interests of the individual 6 Different spiritual communities consider frugality to be a virtue or a spiritual discipline 7 The Religious Society of Friends and the Puritans are examples of such groups 8 The philosophy behind this is that people ought to save money in order to allocate it to more charitable purposes such as helping others in need 9 Benjamin Franklin paired frugality with industry as the key virtues for financial security W aste neither time nor money but make the best use of both Without industry and frugality nothing will do and with them everything 10 Cicero agreed arguing that men don t understand how great a revenue sparingness is 11 There are also environmentalists who consider frugality to be a virtue 12 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 expressed a similar philosophy in Walden with his zest for self reliance and minimal possessions while living simply in the woods 13 Corporate world editFrugality has been adopted as a strategic imperative by large enterprises as a means of cost reduction through engendering a philosophy of careful spending amongst the workforce 14 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 that careful management of costs is in the company shareholder and employee s best interests See also edit nbsp Wikiquote has quotations related to Frugality nbsp Look up frugal or frugality in Wiktionary the free dictionary Anti consumerism Opposition to excessive systemic buying and use of material possessions Capsule wardrobe Collection of clothing items that do not go out of fashion Conspicuous consumption Concept in sociology and economy Ethical consumerism Type of consumer activism Extreme Cheapskates American reality television series Financial independence Accumulation of sufficient resources to not need employment FIRE movement Movement whose goal is financial independence and retiring early Frugal engineering Process of reducing the complexity and cost of a good and its productionPages displaying short descriptions of redirect targets Garbage picking Taking items from piles of waste for personal usePages displaying short descriptions of redirect targets Intentional living conscious attempt to live according to certain valuesPages displaying wikidata descriptions as a fallback Miser Person who is reluctant to spend Mottainai Japanese term translates as What a waste Overconsumption Resource use exceeding carrying capacityPages displaying short descriptions of redirect targets Paradox of thrift Paradox in economics Price comparison service Vertical search enginePages displaying short descriptions of redirect targets Simple living Simplified minimalistic lifestyle Sustainable living LifestylePages displaying short descriptions with no spacesReferences edit Temperance enjoying a frugal meal British Museum frugal Century Dictionary Online Retrieved 15 April 2011 Macdonald A M ed 1972 Chambers Twentieth Century Dictionary Chambers Oxford American Dictionaries computer application Apple Computer 2005 Woolf Henry ed 1980 Webster s New Collegiate Dictionary Springfield MA Merriam ISBN 0 87779 398 0 Lastovicka J L Bettencourt L A Hughner R S Kuntze R J 1999 Lifestyle of the tight and frugal Theory and measurement Journal of Consumer Research 26 85 98 doi 10 1086 209552 Rose P Toney Smith S Segrist D J 2010 Too cheap to chug Frugality as a buffer against college student drinking Journal of Consumer Behaviour 9 3 228 238 doi 10 1002 cb 314 Gorman C 1990 The Frugal Mind 1 479 Money Saving Tips for Surviving the 1990s Nottingham Books Child Hamilton 1867 How to Succeed in Business Gazetteer and Business Directory of Ontario County N Y for 1867 8 p 91 Austin Richard Cartwright 1990 Environmental Theology Creekside Press p 169 Mecklin John M 1920 An Introduction to Social Ethics The Social Conscience in a Democracy Harcourt Brace and Howe p 254 Watkinson William L 1908 Frugality in the Spiritual Life F H Revell company p 7 Franklin Benjamin 1791 Autobiography Cicero M T Paradoxa Stoicorum Swain George Fillmore 1915 Conservation of Water by Storage Yale University Press p 26 Thoreau Henry David 1910 Walden T Y Crowell amp co p 184 Woerner Stephanie L 2001 Networked at Cisco Center for eBusiness Teaching Case 1 MIT Sloan School of Management Retrieved from https en wikipedia org w index php title Frugality amp oldid 1177052857, wikipedia, wiki, book, books, library,
