A genius by the name of Carl Richards recently posed this question in a New York Times piece, and I can’t stop thinking about it:
What would happen, I asked, if we had to walk around with our true wealth flashing as a number above our heads? It would be the end of consumerism, he replied. Why would you need to buy something to represent wealth if everyone knew exactly what you were worth already?
As a money blogger, I tend to get asked a lot of questions about money. Some financially focused queries land in my inbox, some are sent over social media, and others are fired at me while sitting in the hot seat of a live TV interview.
I get frustrated when people don’t understand what it means to be frugal. A few criticisms of frugality I’ve come across:
Frugality is a waste of time.
Frugality distracts you from earning more money.
Frugal people deny themselves of any enjoyment.
I’ve already written in detail about how these arguments are silly. They might apply to being cheap, but they don’t apply to being frugal.