Frugal Chic

My husband and I have increasingly been leaning towards a more frugal lifestyle. We've always tried to be responsible with money, but it's so easy to get caught up in consumerism. Unfortunately, consumerism never ends, because there's always something bigger and better out there. We're finding that our lives are increasingly full of stuff, and downsizing, streamlinging  and de-cluttering has never been so appealing. So when I spotted a book called The New Frugality: How to Consume Less, Save More, and Live Better by Chris Farrell on my library shelves, it seemed to be right up my alley.

This is a good book- well written, and full of great advice. Unfortunately it wasn't quite what I expected. I thought it would talk in depth about strategies to reduce consumerism and embrace a frugal lifestyle. It does touch on this, but it is more of a financial planning book than frugal living book. If you're looking for advice about mortgages and low risk investments, this is a great book.  Because I live in Canada, many of the advice about specific American funds and companies was completely inapplicable- though that's not really the book's fault. Nonetheless, this book is full of wise advice about financial stewardship. Mr. Farrell's advice rests on a few principles that any reader can take away:

1. Create financial margin- it's ridiculously simple. Just stop spending more than you have.
2. Save Save Save- You never know what's ahead, so start saving for retirement, and possible hard times.
3. Invest smart- Go for low risk options that will give you a modest payoff. Don't gamble with the stock market or expect your home to be a lucrative investment.
4. Try to live better instead of richer- Get out of the mindset that money = happiness. Invest in what matters- your family and loved ones, and making the world a better place.

The New Frugality is an interesting and engaging book. It was able to keep me reading despite some of the dryer financial stuff. Farrell uses anecdotes to keep the material interesting and engaging. It is a breath of fresh air in a society that emphasizes stuff and more stuff. It's definitely worth a read if you're wanting to become frugal chic.

We're definitely excited about embracing frugality in our everyday lives. We're tired of consuming to death, and we want to be smarter about the way we spend our money. I hope that more books will be written on the subject, and that this trend will slowly catch on. Let's get out of the mindset that we need so much stuff, and let's start living within our means.

For a great short video about consumerism and the environment, go to http://www.storyofstuff.com/
It will open your eyes about the harmfulness of consumerism.

Let's embrace frugal chic together!