Comments on: Frugality Hype Can Overshadow Meaningful Financial Discussions

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By: lulu

lulu — Fri, 17 Jul 2009 16:45:59 +0000

I agree with the article. But even this article ignores and does not inform. When will we truly inform the public!

By: Blake

Blake — Mon, 06 Jul 2009 17:25:57 +0000

Frank,

You described in detail the biggest financial mistakes I’ve made over the past 2-3 years.

I enrolled in a small private college after high school, but did not give nearly enough time to the financial implications of borrowing so much money for school. Funny thing was; I was being extremely frugal at the time. I did tons of little things to save a dollar here and there, which certainly helps, but I neglected to seriously consider the costs of school. It’s going to take a lot of generic cereal and hypermiling to make up for the student loan debt that is still accumulating.

By: claudia

claudia — Thu, 25 Jun 2009 13:08:48 +0000

Finally, the voice of reason! I couldn’t have said it better myself. I am so tired of reading all these personal finance bloggers who brag about their “alternative stream of income,” meaning, they “earn extra income” by spending 25 minutes filling out an online survey so they can get $3.

People get too immersed in small savings, when the same time and effort spent on bigger things, like saving money on car insurance, homeowner’s insurance, the mortgage, etc. would net much bigger results.

I’m not saying you couldn’t do both, but again, far too many people out there are obssessed with silly little surveys that just sap your time but let you pat yourself on the back for earning a measly dollar, probably becus they don’t have the imagination or initiative to do something bigger.

By: Frank

Frank — Wed, 24 Jun 2009 14:27:59 +0000

If small steps to saving leads people to make larger and smarter money decisions that’s great, but its a little naive to believe that the majority of people understand where their money is invested for example, because the majority of us don’t even invest. It’s true that now more people are watching the news and saying things like, “this whole problem was people living beyond there means.” Well that’s great that people realize this, but I doubt hardly any of them would consider themselves of those “people.” Your point of saying habits will stay is true, and the majority of us have a habit of ignoring our financial futures and that will continue if we don’t discuss it, and that was my point.

By: Dawn

Dawn — Wed, 24 Jun 2009 13:58:34 +0000

I so disagree with this. I think small steps to save money and large ones go together. “this same couple probably spend no time reading the details of a home mortgage loan…” How do you know this? Is it not possible that becoming frugal in small ways like putting in cfls and setting their thermostat inspires them to make larger changes and look for other ways to make a difference? Of the people I know, most have found saving addictive. Once they dip their toe in and find out how little it takes to start making a big difference, they start looking for more and more they can do. Frankly, from what I hear on the news practically no one is getting loans anymore, let alone home equity loans. People are knuckling down and saving. This may pass when the economy gets better, but many habits will stay.

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