Frugality (also known as thrift or thriftiness) is the practice of minimizing waste. Frugality can be related to the idea of being conservative or conserving money.
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- People who originally have no means but are ultimately able to earn a great deal, through whatever talents they may possess, almost always come to think that these are permanent capital and that what they gain through them is interest. Accordingly, they do not put aside part of their earnings to form a permanent capital, but spend their money as fast as they earn it. But they are then often reduced to poverty because their earnings decrease or come to an end after their talent, which was of a transitory nature, is exhausted, as happens, for example, in the case of almost all the fine arts; or because it could be brought to bear only under a particular set of circumstances that has ceased to exist.
- Schopenhauer, “Aphorisms on the Wisdom of Life,” Parerga und Paralipomena, E. Payne, trans. (1974) Vol. 1, p. 348.
- But as they all say if we sell our home what will we have for it, money, and what is the use of that money, money goes and after it is gone then where are we, beside we have all we want, what can we do with money except lose it, money to spend is not very welcome, if you have it and you try to spend it, well spending money is an anxiety, saving money is a comfort and a pleasure, economy is not a duty it is a comfort, avarice is an excitement, but spending money is nothing, money spent is money non-existent, money saved is money realised...
- Gertrude Stein. Paris France. New York: Liveright, 1970. (p. 103).