Economy Down Frugality Up

Regardless of how economists refer to this economy, a downturn, recession or depression, people are hurting financially. As the reality of a down economy begins to sink in, experts say consumers are starting to embrace a simpler life. It’s actually very simple, if the economy goes down, frugality goes up!

After a period of complaining and moaning about the ways in which the down economy has changed their lifestyles, people are beginning to adjust to the situation. They are trying to save some money without changing their lifestyles to much, but there is also a large group that are embracing a more frugal lifestyle.

They are cooking more, staying close to home, go to thrift stores instead of mall shopping, giving a party at home instead of bar hopping, dinner parties instead of gourmet restaurants and so on. (Look at the tips to save money on grocery shopping.)

Whole families are trying to stretch the dollar for instance by giving BBQ, dinner parties, using board games and renting movies as family entertainment. They are looking for fun ways to socialize and save some money at the same time.

And being frugal is not anything to be ashamed of. It’s just a way of living! You can still find ways to have fun and save a buck.

Many people confuse living frugal and saving money with cheapness, but that is not what frugal means. Frugality is a life style in which a person practices restraint in the acquiring of and resourceful use of economic goods and/or services in order to achieve a short or long term goal. (This goal can be anything you want!)

Frugality doesn’t mean that you have to give up your favorite brand or gadgets. You just need to figure out a cheaper way to get those items and for many frugal people this “hunt” is part of the fun itself. For example looking for bargains (that you really need) on Web sites like eBay/Craigslist or in offline stores can be both fun and save you a lot of money!

Are you living frugal?
Do you know of a way to save some money, but still having fun at the same time?

Then please leave a comment, we like to hear from you!