Frugality

James Gillray's satirical print Temperance Enjoying a Frugal Meal. George III is depicted with patched trousers and a chair covered with protective fabric, eating a simple boiled egg and using the tablecloth as his napkin. Winter flowers fill the unlit fireplace.[1]

Frugality is the quality of being frugal, sparing, thrifty, prudent or economical in the consumption of consumable resources such as food, time or money, and avoiding waste, lavishness or extravagance.[2][3][4][5]

In behavioral science, frugality has been defined as the tendency to acquire goods and services in a restrained manner, and resourceful use of already owned economic goods and services, to achieve a longer term goal.[6]

Strategies

Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, detecting and avoiding manipulative advertising, embracing cost-free options, using barter, and staying well-informed about local circumstances and both market and product/service realities. Frugality may contribute to health by leading people to avoid products that are both expensive and unhealthy when used to excess.[7] Frugal living is mainly practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money.[8]

Other Languages
العربية: توفير
български: Икономичност
català: Frugalitat
Deutsch: Sparsamkeit
español: Frugalidad
lietuvių: Ekonomiškumas
日本語: 節約
português: Frugalidade
русский: Бережливость
Simple English: Frugality
Zeêuws: Zunig'eid