How many americans are frugal

[zoe]

I'm 26 and frugal. Kind of by necessity, but I could be like everyone else my age and put everything on credit, personal loans etc just to have the best cars, tvs etc. I don't want to be in debt, so I choose not to do that. I don't think young people give it much thought - they think it's normal. They think they are entitled to all the things people who have worked their whole life for - NOW! Just my thoughts...

[rob62521]

Zoe,

I think you are right when you said the people don't give it much thought about being in debt, that they think it is normal. If that's what you see all around you and the media bombards you with, buy now, pay later, it's considered normal. You, on the other hand, have seen through all that are working to make your life better. Keep up the good work!

[Ima saver]

I am glad to see so many young people on this forum. Gruntina, how does your mother live with no savings?

[PrincessPerky]

SOP, standard operating procedure...people get used to an SOP and they have trouble getting out, if debt is the SOP then debt remains..it is really hard to change the SOP..

[Ima saver]

I can honestly say I have never met anyone frugal! I have one friend who is really really cheap! He has lots of money but finds the cheapest possible way to live. He and his wife have lived in the dumpiest little house for at least 40 years! Their two sons are as poor as church mice. I hate to see what those two kids will do when they get their hands on all that money!!!

[MairGrif]

Originally Posted by Ima saver

I can honestly say I have never met anyone frugal! I have one friend who is really really cheap! He has lots of money but finds the cheapest possible way to live. He and his wife have lived in the dumpiest little house for at least 40 years! Their two sons are as poor as church mice. I hate to see what those two kids will do when they get their hands on all that money!!!

This illustrates a good point. There is a big difference between being frugal, and being cheap. I can't save a lot right now due to many of my fixed costs, but I think before I make most purchases, and I am saving for certain big items, rather than spending now and figuring out where the money is coming from later. I think people who are frugal rather than cheap realize there is more to life than money, and also would rather enjoy life than worry over money.

Several people mentioned the younger generations. I am 28, and I know many people who spend freely, but I also know many who spend wisely, and save. I know a couple who are both grad students, full time, but managed to buy a house, are raising a special needs child, and still save and donate. They have no debt other than their mortgage (not sure about student loans but probably minimal if any). We're rare, but not in danger or extinction.

[rob62521]

Dear MairGrif,

It's good there are young people out there like you who are frugal. It's reassuring since I know very few. Keep up the good work.

[Ima saver]

Yes Mair, it is good to know that some of you are out there, or on this site.The couple that I mentioned that is so cheap; one night we went out with them. We had dinner out, a visit to the fair and went to the movies all for under $10 per couple.
He had coupons for 2 steak dinners for $5 (terrible) , it rained, so he insisted that the fair place give us our money back we paid to get in, and then we went to a $1 movie. I really did not have a good time at all.

[geneandmegan]

My husband and I are 25. We have a few friends scattered around the US who are frugal and who try to live on a budget. But we know LOTS more who just spend, spend, spend. We live in a college town a ways south of Chicago and encounter SO many people our age and younger who work for A) beer money (that's a big one) or B) to spend it shopping the very next weekend. Save does not seem to be part of their vocabulary and they actually look at us like we're some part of a cult when we tell them we live frugal and save for the future! I taught for a while at Northern Illinois University and so many of the people in my class also exhibited that "entitlement mentality" that I've heard a few mention on here. It's not that you have to earn it, or work for it, but that you deserve it, so charge it and have it NOW! I would love to see more people being frugal, saving for the future and not just buying for today. That would be awesome. Viva la revolutione!! (or however you spell that)

[BCHGRL]

I believe that it is hard to quantify "frugal" because we each have our thoughts as to what that means. No, I don't think we're a culture of conservation and frugality. On the other hand, I think prices have become ridiculous, especially housing.

Even though I'm 27, I don't spend much time around people my own age. I can agree that many my age are not frugal, but those in my generations are NOT the only ones that are spending wildly. I've learn to see the world differently than most my age. For instance, when I see newer cars, I am not envious because they have to make a big fat payment every month that I do not. When I see someone with trendier clothes, I am thinking to myself that "I hope they didn't spend too much on their outfit because it will be out of style soon."

I think much of it has to do with being happy with who you are and what you have. I am happy with the clothes I have. They may not be the trendiest, but I have maintained my figure and I know that most of my clothes flatter me. I don't have to buy the trendy huge sunglasses that make me look like a bug to be happy. For the most part, I don't decorate my home based on trends either. I decorate based on what I like and is affordable, which is mostly beachy, cool colored stuff.

People, even those who are older generations, are willing to sacrifice financial security to be in style. The trend right now is to be celebrity copy cat. For the sake of so many who are trying to be trendy, I hope being yourself comes into style really, really soon.

[Ima saver]

Well I have always been myself. that is why I feel so out of place when I go to these big fancy parties with all these rich people. The women are dressed so carefully, completely in fashion. Expensive clothes, jewelry, hair done, nails done, pedicures, facials.
There sits Ima in her QVC $20 jeans, her wal mart shirt and crummy shoes!
These guys are CEO's of banks, the head of trade and tourism for the entire state, etc., but we probably have as much money as they do. We just make about 1/10 of what they make, but at least we save some of it!