Vicki Robin

Time Magazine Cover Story: the New Frugality!

In Uncategorized on April 29, 2009 at 2:00 PM

You heard it first here, folks. In Your Money or Your Life we equate frugality with freedom, smarts, and maximal pleasure for each dollar spent. Long ago (last year) frugality still looked like a loser’s game and using “other people’s money” (debt) was King. Ahh, but now frugality in now so “in” that it’s made the cover of Time Magazine.
Cash is king during any recession for a lot of reasons; not least being that it provides a welcome cushion for any temporary loss of income. If you’ve lost your job, or might, this is no time to go on a shopping spree. But if you feel secure at work and have a little spare cash, you can indeed be treated like royalty in these difficult times. Spend wisely now and you’ll save a bundle over what things will cost once the recession lifts — a day that, thankfully, may be approaching faster than you think. Some bright spots have emerged recently in areas like housing and consumer spending, hinting that the economy may be starting to bottom out. For example, sales of existing homes jumped 5.1% and factory orders rose 1.8% in February. We’re not out of the woods by a long shot. But if you have the urge to cut loose a bit, here are 10 things to buy now — before they get more expensive.
Keep pressing the “next” button to see what they suggest. Frankly, even if country club membership (#10) or fancy threads (#1) are less expensive, they still cost money – and lots of it.
Buyer beware – of thinking the recession is a fire sale for more stuff!
However, if there is a big purchase you’ve postponed, especially if it is “overstock”, you’ll probably find it cheaper now than any time in the last 5-10 years. In fact, I happened to buy a house this way in my town – a place I could only afford to rent in until now.

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