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Are People Born Frugal?
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The following post is by MPFJ staff writer, Catherine Alford. Cat is a freelance personal finance writer who blogs at www.BudgetBlonde.com.
I had my own little safe, and I kept a running total of the amount of money I had in it. My parents paid me $0.01 per page of every book that I read, so I spent my summers absorbing Nancy Drew, collecting the amazing fee of $1.00 per 100 pages, and putting it safely in my box. I never wanted to waste my money, and I liked counting it. I guess you could say that even as a young child in grammar school, I was pretty frugal. I just didn’t know to call myself that yet!
Argument #1: Yes, People Are Born Frugal
When my parents gave me $200.00 a month “allowance” during my college years, I never asked for more. I carefully planned how I was going to use it, and if I wanted to go on spring break, I used money that I earned from my own job to do so. This is not something they specifically taught me or expected of me. It’s just how I am. I never wanted to ask them for more than they gave me. Even today, I find it very difficult to accept help, even when I need it.
Argument #2: No, People Are Not Born Frugal
What Do You Think?
Share your experiences by commenting below!
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About the Author Jacob A Irwin
Hi folks! My name is Jacob. I am the owner and operator of My Personal Finance Journey. I started this blog in January of 2010 and have enjoyed the journey ever since. Since finishing up graduate school in Virginia in 2014, I have been working in biopharmaceutical development in Colorado. You can read more about me and this site here. Please contact me if you have any questions!
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I would say I was not born frugal… it is something I'm still trying to learn.
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Aren't we all. 🙂 Thanks for the comment, Michael!
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Interesting thought, but I don't think people are born frugal. I think it depends on the experiences of the individual, the mindset, and their upbringing. I've met people who have frugal parents who aren't frugal, and the opposite.
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That's true. My siblings and I are very different!
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I think a lot depends on the particular item you are buying/spending money on. When it comes to clothing, I am very frugal and value minded. However, when it comes to my childs education, I want her to have the best experiences and schools I can afford. So really depends on what you value and what you can afford.
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I think that's a really good point. Although I'm frugal, I will probably be much more willing to spend on my children!
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Some people are born frugal, but others had to learn the skill, probably from the example given by other people or from the experience that they go through in life. Either way, the most important thing is to learn to value what you worked hard for and not to spend all that you earned which almost all people can do, if given the right motivation.
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I think that's a really good point. Work hard and don't waste it should be a quote everyone lives by!
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I think there's a lot that is picked up during formative years, so it's very important for parents, grandparents, and others to set a good example. It's also important to note that kids will learn more from watching and observing than just from talking, so while you can tell your kids the importance of good money habits, actually practicing what you preach is the most important thing
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This, exactly. I don't think you're “born” with it but raised for it? Yes!
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Thanks for comment. Did you see M. Shad's comment below? Kind of interesting!
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I totally agree. I definitely want to talk to my kids a lot about money!
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I think it is both. I am a born spendthrift and can be very (too?) frugal. Always have been. I save for what I want, I use coupons, shop around, save a certain amount monthly (retirement + savings), and don't make impulsive purchases. My sister makes impulsive purchases even when she doesn't have the money, cannot save, and in general does not manage her limited finances well. I wish I could be more impulsive and she could be more thoughtful and we could have a happy medium.
We are close in age and were brought up the same way by the same parents who maintained the same habits through our childhoods. So, I think there is a hardwired component to frugality and money management.
On the other hand, my sister has been forced to improve her methods with budgeting, saving money, and trying to get a little ahead. It has required a lot of brute force and she understands the concepts. She is learning and improving so it is also possible to learn, usually through necessity.
That's so interesting. My siblings and I all handle money differently too, which is why I think it's more hardwired!
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