frugality

Frugality is in. Or is it? Maybe it's already becoming passe. 

Over the last few years, news stories have abound with Americans new found frugality. They were saving meal leftovers. What did they do with them before - throw them out? Hmm. They were eating out maybe once a week. They were shopping for clothes at Walmart and not higher-end establishments. They were paying down debt and actually saving some money too - not using their homes as ATM machines. Changes in our economy brought about changes in our behavior.

Prior to this the middle class saw "wealth" (SUV's, home ownership, yearly vacations) like they hadn't seen in generations - perhaps, ever. After "the war" (World War II), Americans experienced a renaissance. We had pulled together for the war effort and gave up gasoline, metal, lumber, butter, bacon, and other "luxuries". Now, we could have those things and then some. We had a surge in home building and ownership - and the suburbs were born. These homes were nice, but very modest by today's standards. Nowadays it seems we couldn't function without at least three bedrooms and two bathrooms, a dishwasher, and a two-(or more) car garage. What once would have been considered luxuries have become requirements. 

Then the recession came fueled by bad mortgages, the bursting of the housing bubble, and lots of lost jobs. Just like during WWII (and the Great Depression before it), frugality became a necessity. And it became fashionable. 

Alas, the frugality bubble may be about to burst too. I heard a story the other day about "frugal fatigue". Apparently Americans are tired of doing without. They want new, fashionable wardrobes, not just one or two new pieces. They want a fancy coffee drink on their way to work - not homemade brew. They want to eat out more and drive a new/newer car. No doubt they have grown restless with frugality and want change. Out with the "old" and in with the "new".

I've also heard the news report that overall business profits are up. It seems as though unemployment numbers are rather high, so maybe workers are still working harder and being more productive. What started as people pulling together to weather this economic storm, became people worried about losing their jobs and not wanting to be pegged as the office slacker. Perhaps that has got us a bit fatigued too. Or, maybe the profit margins are up because consumers are again shopping and spending. Or a little of both.

I, on the other hand, have always been frugal. Perhaps it had to do with my upbringing - by two people who lived through both the Great Depression and WWII. My parents were rather careful with their money, but I don't feel we did without. We ate quite well - gourmet fare most every night - but they cooked it themselves. We took driving vacations to the beach or to see distant family. My mom sewed and knitted many of my clothes. We darned socks and mended items when they tore; and once they could no longer be mended, they became cleaning rags. I still darn and mend. I cook gourmet fare and save leftovers for future meals. I save meat bones in the freezer and make my own stock. I have garden pots for our perennial herbs. We live richly without spending too much money. As Ernest Callenbach's book title stated, we are "living poor with style". This is just who I am and how I will always be. It's not a fad with me. Frugality will always be fashionable at our house.

I'm guessing this will not be the case with the bulk of Americans. We have very short memories and will probably start spending what we don't have again. Until the next bottom falls out and we decide that frugality is again in vogue.