Being Frugal: The Original Sustainability? - Chris Farrell

Complete video at: http://fora.tv/2010/01/21/Chris_Farrell_The_New_Frugality

"Frugality is the opposite of being a cheapskate," says Chris Farrell, author of The New Frugality. Farrell asserts that conscientious spending is actually linked to a sustainable, green lifestyle.

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According to Federal Reserve Chairman Ben Bernanke, The Great Recession may technically be over. But what's clear is that, no matter what the GDP may be, people are hurting financially. In The New Frugality, Chris Farrell, personal finance expert for American Public Media's "Marketplace Money" and contributing economics editor for BusinessWeek, presents a new paradigm for surviving the greatest economic crisis in a generation.

The embrace of what Farrell calls the New Frugality signals that half a century of people spending with abandon and borrowing as much as possible is done. Profligacy is out. Frugality is in. Also, The Great Recession comes at a time of another great crisis related to our over consumption: global climate change. This convergence of crises creates opportunities and new ways to be frugal. In everyday money decisions, it turns out that being frugal and being green are synonymous.

Farrell suggests we should focus not only on what's affordable in the short term, but also on what's sustainable in the long term. If you're thinking about getting rid of your car and buying a bike to save money, there's no reason you should buy a two-wheeled clunker from Craigslist that needs a trip to the bike shop every other day.

As Farrell demonstrates, there's a difference between being frugal and being cheap. We'll still need places to live (do we buy or rent?), to save for college, and every now and then go into a little debt. How we make these choices will be as important as the choices themselves.

The New Frugality offers smart, sustainable, and ultimately more fulfilling ways to approach our personal finances and get more out of spending less. - Berkeley Arts and Letters

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[WarRogers]

@Andy.. That is really an unfair statement and you know it. In my family it's the men who have been the big spenders.. new cars every year, gotta have all the latest electronics, etc. I learned about being frugal from my grandmother. My experience is NOT unique. How dare you, really.

[Andybaby]

Who wants the diamonds, the presents, the big houses, the cars, and the mall?

Women.

Men will be frugal when frugal men get laid.

[johnmonk66]

What is sad is all the cheapskates are now calling themselves frugal, but at heart they are still just cheap. How do you tell us apart? Well frugal people buy the best quality stuff. Why buy a cheap laptop every two years when a good laptop will last ten years? I spent 200 on a bag, because it will last my whole working career

[amourincondicionel]

FRUGAL IS HAVING JUST WHAT WE NEED,

NO WHAT WE SEE ON PUBLICITY,

WE KNOW THE CHEAP GETS EXPENSIVE IN THE END,

BECAUSE WE NEED REPLACE,

BAD FOR US ALL AND FOR THE PLANET, LET'S HAVE ONLY THAT WE REALLY USE AND WE NEED TO GET RID OR GIVE AWAY WHAT WE DON'T, LIVE SIMPLE SO THE OTHERS CAN SIMPLY TO LIVE, SAID GHANDI.

[amourincondicionel]

NOT ALWAYS WOMEN, SOME MEN ALSO,

BUT WE NEED TO BE BOTH FRUGAL,

FOR US ALL!!!

[AmericanCritiquer]

@lex6819 That must be a follow up of "The Millionaire Next Door" because that is the ultimate book on frugality from a financial prospective.

[lex6819]

Cheapskates Unite! Jeff Yeager's book "The Cheapskate Next Door" explodes all the negative myths about cheapskates. Most are very happy, enjoy better relationships and lower divorce rates. Most are givers, and are much more giving and charitable than the average person. Read "The Cheapskate Next Door" to find out how cheapskates are changing the world.

[seattleisfar]

@Andybaby Sorry pal but you need to get with the times. We are the weaker sex. Go with it. My wife is a surgical nurse and I am a stay at home Dad. Being a "housewife" is gravy!!! I have 4 kids ages 6-2 and that is a lot of work but it rules!!! Let the women go to work and get paid more. Why do you think they live longer? Men are the weaker sex because too many men cannot control their sex drive. The future is bright for men.

[seattleisfar]

@Andybaby Sorry pal but you need to get with the times. We are the weaker sex. Go with it. My wife is a surgical nurse and I am a stay at home Dad. Being a "housewife" is gravy!!! I have 4 kids ages 6-2 and that is a lot of work but it rules!!! Let the women go to work and get paid more. Why do you think they live longer? Men are the weaker sex because too many men cannot control their sex drive. The future is bright for men.

[cosmicviewer477]

@marsCubed I get that. My mother always says something close to that, "I work too hard for my money to by cheap things". What she means by that is purchase or make (she was a steamstress) quality things, so that you don't have to keep buying or making them over and over again.

[cosmicviewer477]

@MiranUT Agreed. I think part of that has to do with compassion. I've had mostly women and gay managers, and I've found that when "minority" leaders are good, they are really good.