frugality & wealth

Two new posts from Katherine on Treehugger:

In Praise of Frugality

Gen Y’ers don’t like to credit the frugality and financial conservatism that dominated their parents’ and grandparents’ mentalities. Frugality isn’t cool or hip. It doesn’t advertise well. It doesn’t gratify instant cravings for new things; but, like it or not, frugality has played a very big role in the financial success of previous generations.

I’m going to add Gen X’ers to that as well. So many people I know seem to be doing well on the surface (decent jobs, houses, cars) but they are in debt up to their eyeballs. And they also fall into the “I want what I want when I want it” trap.

Important Wealth Advice

Interestingly, many of the same practices that save money while freeing oneself up for more adventurous, non-materialistic experiences are also good for the environment. Frugality is intimately linked to living a greener, less wasteful and consumerist lifestyle.

And a link to the Globe & Mail article she references: Feeling Lucky?

Advertisements