What if EVERYONE was frugal?

[sweeps]

I'm in a philosophical mood today. What would happen if everyone was frugal? No big spenders. Everyone on a super-tight budget, just pinching pennies.

[thekid]

Re: What if EVERYONE was frugal?

I'm in a philosophical mood today. What would happen if everyone was frugal? No big spenders. Everyone on a super-tight budget, just pinching pennies.

Kindly let me know a day or so prior to this happening as I would like to sell absolutely everything I have invested on the stock market. Thank you.

[vsjhoc]

Re: What if EVERYONE was frugal?

It might get ugly. We'd be fighting over a penny left on the sidewalk.

[thekid]

Re: What if EVERYONE was frugal?

It might get ugly. We'd be fighting over a penny left on the sidewalk.

No, no, no. No such penny would be left on the sidewalk

[MonkeyMama]

Re: What if EVERYONE was frugal?

I always thank the big spenders. We live in such a high wealth area it is easy to get really fancy cars dirt cheap. Everyone seems to turn around and sell them after a year or 2 and the market is flooded with an abundance of used cars. You have to laugh at asking prices sometimes - did they see there were 100 cars just the same on the market for 1/2 as much???

The big spenders I feel have certainly kept the economy afloat, and greatly lessened the blow of the last recession.

Everytime I buy something used and low cost (though like new) I thank the big spenders of the world.

The economy certainly would suffer and I think it would be harder to be frugal in general, if everyone was frugal. BUT at the same time I question how long our economy can be sustained by a debt society. Seems like one of these days people will max out. ??? All the more reason to be frugal now and well prepared if it all goes bad.

[creditcardfree]

Re: What if EVERYONE was frugal?

That is a very good question.

Would we have more saved for a rainy day...more to invest in the stock market...more money to give? I'd like to think it would be a positive move.

Isn't one of the key ingredients to a healthy economy investments? I would think investments of cash rather than borrowed money reduces risk.

Just my first thoughts...I may have more later.

[jodi]

Re: What if EVERYONE was frugal?

We'd all be keeping "down" with the Joneses

[jodi]

Re: What if EVERYONE was frugal?

AHHH! Scary thought - there's be no more thrift stores or garage sales because everyone would use and reuse their items until they no longer had any use in them. So we'd all have to buy things new (only the things we couldn't make or grow ourselves, of course)...but wouldn't prices be driven to the rock bottom if we were all so frugal that we wouldn't buy the big ticket items?
Which means...the market for luxury items would disappear...there would be less options in groceries, clothing, even entertainment. We might have to go back to the days of...gasp...conversation, reading, and playing games! (which is a typical night around here anyway)

[thekid]

Re: What if EVERYONE was frugal?

We'd all be keeping "down" with the Joneses

Damn those Jones, did you see that old reliable unspectacular Hyundai they just got. We gotta trade down!

[JanH]

Re: What if EVERYONE was frugal?

Do you think it might have been more like that in our grandparents' era? Both sets of grandparents were very frugal and made do.

[disneysteve]

Re: What if EVERYONE was frugal?

there's be no more thrift stores or garage sales because everyone would use and reuse their items until they no longer had any use in them.

I think thrift stores and garage sales would still be around, probably more plentiful than ever. Because instead of throwing out stuff they didn't need, people would donate it or sell it. That would be great for the 2nd hand shops.

I think if you have some conversations with depression-era folks, you can get a better idea of what life would be like if everyone was frugal, because back then, almost everyone was.

[Ima saver]

Re: What if EVERYONE was frugal?

My parents were around during the depression and they were very frugal. You saved up to buy what you wanted.
It would make my husband very unhappy, the car makers would probably stop making corvettes!

[jodi]

Re: What if EVERYONE was frugal?

Damn those Jones, did you see that old reliable unspectacular Hyundai they just got. We gotta trade down!

Hey! Where's that rusty old bike??

[Ima saver]

Re: What if EVERYONE was frugal?

I gave mine away!!

[Gruntina]

Re: What if EVERYONE was frugal?

Companies and employment would be so frugal and not hire people or do unnecessary work that cost money resulting to fewer employments. They would probably outsourced so many works simply just because it’s cheaper that way. Gloomy thoughts for US future as this are already happening. Including our Tutors... if you check out TutorVisa, they have Master degrees tutoring students in many language and subjects which only charge us 2.50 an hour. That is much cheaper than hiring our own teachers and tutors that cost range between 25 and 50 dollars an hour!!!