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If you're a child of The Great Depression, frugality is a lifestyle that you're familiar with, but the popularity of blogs like The Frugal Girl and Divorceddadfrugaldad are punctuating the idea that frugality is a wise approach to life that's here to stay. These blogs also show us clearly that frugal living isn't necessarily devoid of quality nor abundance.

Many people equate frugality with being cheap or stingy, so it's important to understand that being frugal reflects a keen awareness of the value of money. It's understanding what your hard earned money is capable of buying. It's the opposite of being wasteful.

Frugality is a way to avoid debt, and Enemy of Debt seems to sum up this attitude quite well. Being frugal also supports accumulating wealth. Avoiding debt and accumulating wealth are two things that are very healthy for your personal financial situation. To stay on top of your financial game, there are those out there that recommend you cultivate a mindset of frugality and make it part of your lifestyle.

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About Clair Schwan