frugality

Frugality is a lifestyle and economic principle that emphasizes careful management of resources to reduce waste and maximize value. It involves deliberate spending, saving, and resourcefulness rather than extravagant consumption. The term derives from a sense of prudence and efficiency in the use of money, time, and materials.

Historically, frugality has appeared in various cultural and religious traditions, including the Protestant ethic and Stoic philosophy, where self-discipline and prudent living were valued as moral or practical aims. In modern contexts it is often linked to financial planning and budgeting, rather than asceticism, and is pursued as a strategy for resilience, security, or goal-oriented saving.

Common practices include tracking income and expenses, distinguishing needs from wants, buying durable goods, repairing items, and purchasing secondhand. Many adherents cook at home, minimize housing and energy costs, plan purchases, and avoid debt. Frugality can overlap with sustainability, as frugal choices tend to reduce consumption, waste, and the environmental footprint of daily life.

Criticism and balance considerations acknowledge that excessive frugality can become deprivation or impede well-being, social connection, or opportunities. Effective frugality commonly emphasizes value and long-term goals rather than mere cost-cutting, aiming to allocate resources toward meaningful outcomes such as financial security, education, or time for personal priorities.