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MGA Faculty Q&A: How Frugality Is Making A Comeback

Author: News Bureau
Posted: Monday, October 27, 2025 12:00 AM
Categories: Pressroom | Faculty/Staff | School of Education and Behavioral Sciences

Macon, GA

Frugality is becoming a mainstream approach to money management. From estate sales and thrift shopping to social media influencers promoting mindful spending, more people are rethinking how they use their resources. In this Q&A, 51³Ô¹ÏºÚÁÏÍø psychology professor Dr. Amanda Avera explains the difference between frugality and being cheap and shares insights into how younger generations are reshaping the way we think about money.

How has the perception of frugality changed in recent years, and why is it becoming more mainstream?

Frugality is an interesting concept, and it is important to understand the difference between being frugal and being cheap. Stefanie O’Connell writes that while there are similarities between the two, there are noticeable differences. For example, people who are cheap will spend less even if it negatively impacts others (someone else paying for your meal, skimping on groceries when one has the means to pay, refusing to buy necessities, etc.), while those who are frugal will focus on the value of their purchases and manage their money to ensure needs are met at reasonable costs. Frugality is an intelligent approach to finances that shows self-control, respect for self and others, and patience.

There are probably many reasons why frugality is coming back in style. More people are turning out for estate sales, antique shopping is seeing a resurgence, TV shows like American Pickers make digging through attics and barns seem like fun, and the new décor style known as “grandma chic” (decorating one’s home to resemble the traditional grandma’s house to facilitate warmth) are all contributing factors to the frugality trend. Influencers on TikTok and YouTube are helping to create this interest in frugality and challenging their viewers to spend less and save more. “Underconsumption” is a growing trend among the Gen Z population and for good reason. They are constantly hearing that money is tight and prices are incredibly high. They are smart and many are choosing to save money where they can.

What are some practical ways people can embrace frugality without feeling deprived or giving up quality of life?

Frugality is a choice that takes patience and practice, especially in a culture that prizes instant gratification, social media highlights, and the latest gadgets. Many people don’t realize how small, everyday expenses - coffee runs, subscription services, fast fashion, and convenience purchases - can add up quickly.

The key to embracing frugality is recognizing that being mindful with your money doesn’t mean giving up the things you enjoy. You can still travel, buy a car, or treat yourself by budgeting in advance. Self-control and patience are skills that can be learned and strengthened over time.

One helpful way to build this mindset is to focus on priorities and delayed gratification. Psychologist Walter Mischel’s classic “marshmallow study” found that children who practiced patience and self-control tended to have better outcomes later in life. The same principle applies to money: waiting, budgeting, and planning can lead to greater satisfaction and financial stability than spending impulsively.

Practical steps include tracking your spending, setting short-term and long-term savings goals, using budgeting apps, and distinguishing between wants and needs. By taking control of your finances, you can live more comfortably, reduce stress, and still enjoy life.

How do economic factors, such as inflation or job market uncertainty, affect people’s interest in frugal practices?

Many people have had to tighten their budgets over the last few years. Between 2021 and 2025, U.S. inflation rates were nearly 5 percent, which hit many families and students hard. Thankfully, the inflation rate as of August this year was 2.9 percent. Still, the traditional American Dream remains out of reach for many young people as markets continue to stabilize. For many Americans, frugality is not just a trend but a necessity.

When prices rise and incomes feel stretched, people often find creative ways to make their money go further. This can mean meal planning, shopping sales, buying secondhand, or reducing discretionary spending on things like dining out, subscriptions, or entertainment. It’s also common for households to reprioritize big expenses, like housing, transportation, and utilities, in order to free up resources for savings or unexpected costs.

Job market uncertainty further encourages frugality. When careers are less predictable or wages stagnant, people are more likely to track spending carefully, build emergency funds, and avoid taking on unnecessary debt. Frugality in this context is about building resilience and making sure every day needs are met while preparing for potential financial challenges.

Even for students and young adults just starting their careers, small steps toward frugality can make a big difference. Using budgeting apps, setting short-term savings goals, and learning to distinguish between wants and needs help build habits that last. In uncertain economic times, these choices don’t just save money; they create financial confidence and stability.

Are younger generations approaching frugality differently than older generations? What can we learn from their strategies?

Younger generations appear to be practicing more efficient money management techniques. Gen Xers (those born approximately from 1965–1980) possess the greatest debt of all current living generations, largely from credit cards and loans. These are patterns that Gen Z has observed and learned from. Some from the younger cohorts lean more toward minimalism, though that trend may be shifting toward the “grandma chic” aesthetic. These generations are also more open about discussing finances and use digital tools such as budgeting apps, online banking, and podcasts to help them plan and save.

From their strategies, we can learn the value of being intentional with money, tracking spending, and leveraging technology to stay organized. Younger generations show that frugality doesn’t necessarily mean extreme sacrifice. It’s about making informed choices, prioritizing goals, and finding creative ways to save while still enjoying life.

Financial stability is attainable, but it takes a mindset shift. You have to be willing to learn and change your lifestyle, be patient, exhibit self-control when tempted to spend impulsively, and think long-term rather than living only for the moment.