Frugality’s Upsides and Downsides, Part 1

There are two main tenets to climbing my way to wealth: keeping my income high and my expenses low. Obviously doing both have their pros and cons, just as any big decision does. Frugality, in particular, doesn’t get its downsides examined too often; those downsides tend to pare down to “lol sweaty, you’re failing as a person if you can’t get your overc-onsumption under control”. Let’s discuss frugality’s upsides and downsides in equal measure; after all, those downsides are what consumers cling to for why they can’t go down this road.

This is a great refresher too for anyone who’s been on the frugality track for years like myself. Now that I’m actively trying to support local businesses, it’s been harder than I thought to actually spend money. I’ve gone so long optimizing my spending and avoiding unnecessary purchases that these new attempts rail directly against my established habits and comfort levels.

It’s even difficult to identify what I want to spend money on; my knee-jerk response to considering restaurants is “Why would I do that when I can make something at home?” and the response to shopping is “Why, when I can make do with what I have?” My only saving grace is a note on my phone I add things to if I want to buy something. I’m referring to that heavily now to see how I should divvy up my budget!

It’s an interesting position to find myself in now, and it’s great food for thought on frugality’s upsides and downsides.

History Lessons in Frugality

Funny enough, America’s current consumerism mania is the exact opposite of its frugal roots. We can trace the origins of the country America to the colonists coming here for religious freedom. Yep, we’re talking the Pilgrims, Quakers, and Puritans (the Pilgrims were separatist Puritans, fun fact of the day). These groups considered frugality to be a spiritual obligation, just as necessary to strive for as benevolence and living free. Not only is this because frugality is an easy teacher of humility and self-management, but also so these communities could allocate more money to charitable endeavors. Yep, these groups have more in common with you than you’d initially think!

If we want to go even farther in history, we’ll see more frugality principles before Europe even knew the New World existed. Several native tribes – especially those in what is now New England, which I’ll focus on here – embraced frugality principles like optimizing their time (or spend) and taking care of what they owned. This meant that quite a bit of indigenous technology was actually superior to the shit Europeans had; this included better footwear, waterproof moccasins being so much more comfortable and versatile than moldy, gross boots. They had faster transportation, as canoes literally sailed circles around European rowboats).

They also had more accurate weaponry – arrows could cover more distance than a 17^th century gun any day of the week. I highly recommend reading 1491 by Charles Mann for more on the subject. Don’t believe your initial lessons on the native population being in any way “inferior” to colonists; their takes on frugality made them a force to be reckoned with.

So either way, frugality was thriving in both of the major cultures that first shaped America. Our culture today has drifted far from that with the rise of corporate power, which has definitely helped bury our thrifty heritage.

The Upsides of Frugality

So since frugality was such an important thing in baby America, there must have been good reason for it. And you bet your ass there was.

Building Serious Wealth

“Duh, Darcy,” I already hear the commenters groan. Maintaining frugal habits will always save you money, regardless of your income level. This means that frugality will either give you one of two things:

1. more wiggle room in your budget, or
2. give you a larger savings margin than you would have had otherwise.

It’s an invaluable tool everyone should implement at least sometimes in their lives. Most folks with a severely low income already use frugality as a means to survive; this is why frugality comes naturally to folks in the finance space who grew up in poverty. When combined with a healthy income, however, it sends you on a rocket ship to the moon with the amount of money you keep and grow, including reaching $100,000 in just over three years’ time.

Less Worry/Stress

I am so glad I love to write because I can always reference my writings from my climb to wealth. In 2017 I feverishly wrote down my joy at hitting a $22,000 net worth, which was equivalent to a thousand dollars per year I’ve been alive. Since then my stress levels have gone down with each further $10,000 added, getting to the point now that I get worried my heart beats way too slowly when I’m relaxing or sleeping.

Which is, for the record, one of the best problems to possibly have.

We already know that America’s number one cause for anxiety is bad personal finance. Take that out of the equation, and you’ll find yourself living a beautiful life that’s absent of your old stressors.

Better Health

Speaking of a beautiful life, health is an obviously crucial part of it. And frugality, unlike the propaganda ridiculing it, is NOT about sacrificing your health for extra money. Being more frugal actually offers a net benefit to your health in the short term and in the long term.

Ditching your car for a bike or for walking means more exercise and fresh air. Cooking what you bought from the grocery store instead of what you order for takeout is much better for hitting your nutritional intake. And, because it bears repeating, having less stress dramatically lowers your risk for several health issues like heart disease, diabetes, and Alzheimer’s. In other words, being more frugal can literally save your life.

A Better Environment

Frugality is a virtue claimed by those funky Quakers, but it’s also one claimed by the environmental sustainability movement. This is because frugality is also a massive boon to environmental protections and preservation. Getting your possessions secondhand directly translates to less crap in the landfills and less demand for the newest gadgets out there.

Congratulations, you’ve discovered how to help alleviate the pressures on third-world manufacturing and reduce the amount of waste generated in our society in one fell swoop. If enough folks kept up with this like the Ecofrugals, our world would be that much better off.

More Control

When you don’t strictly need someone else to support you, they no longer have the ultimate power over you. Feeling powerless is exactly what keeps millions shackled to hateful jobs or toxic workplaces; anti-frugality means you’re absolutely screwed if you become unemployed or become unable to work for any length of time.

Frugality changes that on all levels of your life. The little things suddenly have no power over you, including the intimidating mountains of stuff you might’ve accumulated. When you’re frugal, you realize you really don’t need all of this and then get rid of it. Boom, Marie Kondo now knights you into the Order of Guac and you live with pride and a whole lot less to clean. For the bigger stuff, like your career and relationships, you’re no longer beholden to anyone over something like money.

In my life, this has made the difference between working a job I hated and working a job I actively enjoy. It’s also taken me from having strained relationships with my friends to making unforgettable memories with them on vacations and by spending time together. Nobody knows what the future holds for sure, but don’t let that discount the control you have over your happiness and destiny. Frugality is a miracle method for putting you back in control.

More Peace

All of my previous points, when combined, give you a life of freedom and peace. It’s what puts the word “independence” into the term “financial independence,” as freedom and liberty offer a lifetime of joy and bowing to no one. Frugality makes you realize your self-sufficiency and step into your power as a human being. You no longer have to adhere so strongly to strife like long commutes and office politics, for you have found how to reach the calm and the relief. Frugality’s upsides and downsides need to both be examined, but it’s hard to argue against it when it brings you so much peace.

And hoo boy, this topic got away from me. I’ll save my deep dive into the downsides for the next post, where we can give the cons the proper consideration they deserve. Until then, are there any other upsides to frugality I should include?