Frugality

There are many books that popularize the idea of frugality and living below your means. Many so-called money experts write, speak and broadcast on radio and TV the virtues of cutting up your credit cards, saving money, driving a used car, living in a smaller house, shopping at sales, eating at home, taking cheaper vacations and other such tips.

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While these are excellent ideas for most people, and while there is a time and place for frugality, most people do not like these ideas. The truth for most people is that they love to enjoy the finer things in life that money can buy. For most people, a big home, a new car, fun toys and expensive vacations are much more fun and desirable than putting money away in a bank. Most of us tend to agree with the wise sages professing frugality and economic abstinence. Yet, deep down, many of us would rather have a platinum credit card without a spending limit...that is paid by your rich uncle who has more money than all the Arab sheiks, private Swiss banks and Bill Gates combined.

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While most of us enjoy the wonderful things money can buy, we realised that it is unbridled desire for the fun, fine and fancy things in life that gets many of us into financial trouble. And it is the financial trouble that these desires spawn that causes the money gurus to say, "Cut up your credit cards. Live below your means. Buy used cars".

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But how many of us can really be so disciplined? Hmm...something to think about.