...being frugal doesn’t mean being cheap. Being frugal means caring about your money, and trying not to waste it. It means valuing your money, getting the most from it and being smart about how and where you spend it. In behavioral science, frugality has been defined as the tendency to acquire goods and services in a restrained manner, and resourceful use of already owned economic goods and services, to achieve a longer term goal. Frugality may contribute to health by leading people to avoid products that are both expensive and unhealthy when used to excess. Frugal living is mainly practiced by those who aim to cut expenses, have more money, and get the most they possibly can from their money. Different spiritual communities consider frugality to be a virtue or a spiritual discipline. The basic philosophy behind this is the idea that people ought to save money in order to allocate it to more charitable purposes, such as helping others in need. There are also environmentalists who consider frugality to be a virtue through which humans can make use of their ancestral skills as hunter-gatherers, carrying little and needing little, and finding meaning in nature instead of man-made conventions or religion. Cheapness is a lot different from frugality. Cheapness is when you have enough money but you still refuse to spend money on things such as not wanting to leave a tip at a restaurant even though it is an expensive five star restaurant. Cheapness sometimes derives from greed in some...
Words: 409 - Pages: 2
...America’s Cheapest Family Gets You Right on the Money The book titled “America's Cheapest Family Gets You Right on the Money: Your Guide to Living Better, Spending Less, and Cashing in on Your Dreams,” by Steve and Annette Economides, is broken down into chapters covering each area of a household budget: groceries, car expenses, housing costs, utilities, debt, medical bills, clothing, entertainment and recreation, vacations, kids and money, and savings and investments. In each chapter, Steve and Annette offer tips on how one should be thinking about each area of their life. Steve and Annette offer ideas, at the end of each chapter, to improve one’s performance in each area by offering three stages of suggestions: for someone willing to make small changes, for someone looking to make bigger changes, and for someone to go all in and follow Steve and Annette’s way. Planning is very important; to save some serious money Steve and Annette insist one should start with a plan that will assist to develop a budget. They suggest one to apply more resourcefulness, clip coupons, create grocery lists, and double check the lists before heading off to shop. When you plan menus in advance it gives you time to take careful inventory of the pantry and do some product and pricing research to see which items are priced best. Organization is a money saver as Steve and Annette claim. Disorganization may cause one to end up with late payments with fees, lost coupons, forgotten checks, and the list...
Words: 804 - Pages: 4
...Simple living The term ‘Simple Living’ is introduced in the text ‘Simple Living, Recession-Style’ by Elizabeth Scott. The idea is to “pare down and get rid of all the extra “stuff” that we think we need, but don’t.” By getting rid of what does not really serve us, one can enjoy the important things in life, such as relationships and family. By not getting distracted by unimportant things, one can focus on becoming a better person and getting “a better understanding of “who we really are.”” Elizabeth Scott is very positive to the idea of simple living. She was introduced to it in ‘Simple Abundance’ by Sarah Ban Breathnach. She says this way of living could result in less stress, stronger relationships, and a more meaningful life. It is not all, that choose this way of living themselves, a lot of people are opting it out of necessity. They need to save money, due to the fact of financial problems. She makes it clear that the experience of living with less, may feel hard when not voluntarily chosen, but family togetherness will still be the end result. Judith Levine is also very positive towards the idea of simple living. She has written the book ‘Not Buying It: My Year Without Shopping’, in which she describes how she and her partner did not buy anything unnecessary for a year. In the interview she explains how thinking about ones choices also is a part of simple living, for instance instead of buying biodiesel one can buy biofuel made from plan cellulose. Judith Levine introduces...
Words: 836 - Pages: 4
...This nation, the United States of America – consider the people in it, the three hundred million of us. About the controversial issue of American spending, many believe that Americans are wasteful; however, others believe that Americans are frugal. As we know that the frugal character of Americans has developed in their learning through time. First, in history the Americans lived frugally to survive the difficult circumstances. Second, we learn about the benefits of frugality through the American experience. Finally, we affirm that frugality helps us to live usefully. Benjamin Franklin’s frugality character taught us about his cleared vision, and inspired ambition. “Make no expense but to do benevolence to others or yourself; especially, waste nothing,” said he. In addition, he wrote in the Saturday Post in 1728, “A penny saved is a penny earned.” Through frugal character, Franklin was able to rise out of poverty to become a wealthy, famous, and influential person. He worked to resolve conflicts and ensure ratification of the Constitution. The Americans remember Franklin as a statement and diplomat, who signed the Declaration of Independence....
Words: 566 - Pages: 3
...into a storefront (Nelson & Quick, 2013). As a leader, he demonstrates humbleness and caring to his employees, and encourages hard work, creativity, and strict business ethics (Nelson & Quick, 2013). He also admits his human weaknesses to others, showing that even a successful man and business are not without strife (Nelson & Quick, 2013). Nature of Followship Kampard has encouraged his employees to be greater that what they see. He has encouraged his employees to look around them for processes or ideas that should be questioned, and encouraged creativity to make changes (Nelson & Quick, 2013). His company commits to making ecologically friendly products that are good for the environment (Nelson & Quick, 2013). He demonstrates frugality, which he inspires with his employees as well (Nelson & Quick, 2013). Leadership Grid Kampard’s leadership style would best be described as a team manager (Nelson & Quick, 2013). He wants his organization to be successful, but has demonstrated that it is his employees who make IKEA work efficiently (Salisbury, 2011). He not only...
Words: 2212 - Pages: 9
...Wal-Mart, Sam Walton (608,611.) To better understand the mentality of Wal-Mart in its current state of questionable staffing and pay you first have to understand how this company originated. As Olsson explains it Walton who constantly looked for ways to maximize profit and minimize expenses based his business on a fairly simple yet successful business model. That model being one in which high sales volume at lower prices generates greater profit margins. Walton’s frugality extended beyond just the selling of goods and making profit. He looked for ways to keep overhead down, payroll down, and even the personal indulgences a CEO of company might typically have. Olsson paints this very image of Walton: “The company grew, in no small part, by . . . frugality—a habit that started with Sam Walton himself, who drove an old pickup truck and shared hotel rooms on company trips and insisted on keeping the headquarters . . . plain as possible” (611). As you can see from the infancy of the company to the maturation of Wal-Mart frugality has been ingrained into the psyche of the company. With this mindset one can understand now how a way of life...
Words: 1167 - Pages: 5
...From the autobiography of Benjamin Franklin, Benjamin talks about his beliefs and values about industry, frugality, and religion, which were different around his time, but are what made him thrive and achieve greatness. Benjamin Franklin worked hard in his business and did not waste any of his time doing unnecessary actions. With a growing family, “I spent no time in taverns, games, or frolics of any kind; and my industry in my business continued as indefatigable as it was necessary.” Franklin believes that his habits of frugality and thrift served him well and considered industry “a means of obtaining wealth and distinction.” Benjamin luck that his wife was “as much dispos'd to industry and frugality as myself,” and assisting him around...
Words: 410 - Pages: 2
...for my bread. I shifted some cans of half-opened Goya beans and the remnant of a brick of dulce de leche that had seen better days. After much shuffling, I spotted the big brown container of margarine. Carefully placing the tub on the kitchen table and readying for my “feast,” I opened the container. To my dismay, it was filled with arroz con pollo. My eyes tightened and my stomach made Chewbacca noises. Maybe I could mash the dulce de leche on top of the bread. My finding was not a surprise. Rather it was lesson number 73 engraved within the book of Dominican-bred frugality. Why buy 99 cent storage containers when the products we buy already provide...
Words: 649 - Pages: 3
...Leadership Philosophy of Lacey Folmar 11/05/2015 Lao Tzu once said, “I have three precious things which I hold fast and prize. The first is gentleness; the second is frugality; the third is humility, which keeps me from putting myself before others. Be gentle and you can be bold; be frugal and you can be liberal; avoid putting yourself before others and you can become a leader among men.” (Tzu, 2015, Lao Tzu Quotes, Retrieved from http://www.goodreads.com/quotes/140095-i-have-three-precious-things-which-i-hold-fast-and) Reflecting on my leadership quote, my definition of a leader is one who knows how to put others before themselves. The following ideas are essential to my definition. Leaders must be gentle, be frugal, and be humble. These qualities can integrate into boldness, liberality, and reflection of others. Gentleness. Without gentleness a leader is reckless of the follower’s emotions. In order for the leader to implement positive change, the leader must be able to understand people’s need and desires. According to Meghan M. Biro, a writer for Forbes, “Great leaders understand empathy, and have the ability to read people’s (sometimes unconscious, often unstated) needs and desires. This allows them to speak to these needs and,...
Words: 583 - Pages: 3
...world, financial and professional growth is increasingly linked to skill formation in an effort to raise socioeconomic standards. Global integration and technology have increased the focus on the importance of education and training in the competitive business market. Skill development, technology usage, optimization and frugality of educational programs in this process are becoming increasingly important. Future projections and analysis of educational program delivery systems will lead to increased integration of technology and access over the internet, improvement of financial responsibility and unforeseen ethical implications related to course delivery and student interaction. The current state of spending years on college campuses often leaves people weighed down with big debts, a burden not only on their personal finances but on the overall economy as well as high dropout rates (Carr, 2012). Analysis of financial and technology issues facing education today are inter-rotational. Problems associated with finance and technology include student body volume growth, restrictions in geographical outreach, accessibility of the learning environment, financial frugality, implementation and maintaining technology as well as recruitment of a talented labor pool. Close to 60 percent of Americans believe that the country's colleges and universities are failing to provide students with "good value for the money they spend” (Carr, 2012). This concern along with the need for accessibility...
Words: 1025 - Pages: 5
...Throughout history there have been varying opinions on what constitutes as a successful existence, none more than in North America where the two have become practically synonymous with each other. In his book “ The Way to Wealth” Benjamin Franklin introduces ideas about not only surviving, but flourishing economically that still are still applicable today. Contemporary Society would benefit greatly from following the wisdom of Franklin, which emphasizes diligence, frugality with one’s finances, while refraining from falling into the pitfalls of slothful behavior. In the time of Franklin his way of living was quite common with those who sought to achieve wealth needing discipline less they fail. And during this time failure was not something...
Words: 1117 - Pages: 5
...CHAPTER I INTRODUCTION 1.1 Background of the Study Most non-Chinese find the behaviors of Chinese in terms of business peculiar. To be able to understand their behaviors, one must learn and understand their culture. China is a diverse country; however, unity is very apparent in their culture. One main factor for their unity is the influence of Confucianism. Confucianism governs every relationship in China, and that includes business relations. Chinese culture is relationship-based. For Chinese, you are successful if you are well connected with other people (http://www.quickmba.com/mgmt/intl/china/). It makes a lot of difference in society if a person has good “connections” (guanxi in Chinese). Social connections bring a lot of benefits, while its absence makes things difficult. This is the reason why in the ethnic Chinese community, people try to find and establish kinship relations and connections with as many people as possible (Juan, 1996). “Guanxi” is an important element in Chinese businesses that serves as glue for members of their society. It literally means "relationships". In the Chinese business world, however, it is also understood as the network of relationships among different parties that cooperate and support one another. The Chinese businessmen practice the principle of "You scratch my back, I’ll scratch yours." In essence, this points to exchanging favors, which are expected to be done regularly and voluntarily by the parties...
Words: 940 - Pages: 4
...The Technology of Medicine A. Indispensable 1. Absolutely necessary or essential. 2. "It is indispensable. B. intractable 1. not easily governed, managed, or directed 2. It is what physicians must now do for patients with intractable cancer, severe rheumatoid arthritis, multiple sclerosis, stroke, and advanced cirrhosis. C. sclerosis 3. an induration or hardening, especially from inflammation and in diseases of the interstitial substance; 4. It is what physicians must now do for patients with intractable cancer, severe rheumatoid arthritis, multiple sclerosis, stroke, and advanced cirrhosis. D. glomerulonephritis 5. a renal disease (usually of both kidneys) 6. In chronic glomerulonephritis, for example, a much clearer insight will be needed into the events leading to the destruction of glomeruli by the immunologic reactants that now appear to govern this disease, before one will know how to intervene intelligently to prevent the process, or turn it around. E. immunologic 7. A branch of biomedical science that covers the study of all aspects of the immune system in all organisms. 8. In chronic glomerulonephritis, for example, a much clearer insight will be needed into the events leading to the destruction of glomeruli by the immunologic reactants that now appear to govern this disease, before one will know how to intervene intelligently to prevent the process, or turn it around...
Words: 2534 - Pages: 11
...conclusion as to whether or not the company operates on the same standard as a high performance organization. An article from Bloomberg Business had this to say, “Ultimately, though, Amazon’s culture is inseparable from its overall performance, the company is unique among its peers online and in retail for continuing to grow quickly, innovating constantly, and expanding relentlessly into new business areas.” Amazon is known for their two of their latest innovations the Kindle and the Kindle Fire. The fllowing are the leadership principles that Amazon employees are expected to abide by: Customer Obsession, Ownership, Invent and Simplify, Are Right, A Lot, Hire and Develop The Best, Insist on Highest Standards, Think Big, Bias for Action, Frugality, Learn and Be Curious, Earn Trust, Dive Deep, Have a Backbone; Disagree and Commit, and Deliver Results. Amazon is a highly...
Words: 1222 - Pages: 5
...Ikea Assignment 1 Is Ikea a successful global brand? Why has it been successful? Ikea is a very successful global brand, not because it has 226 stores in Europe, Asia, Australia and the United States with 410 million shoppers a year, not because other global brand like Wal-mart stumbled in Brazil, Germany and Japan but for Ikea’s unique cultural branding that merges the value and fashionable design to ensure the creation of an affordable contemporary household goods (not just the furniture with 5-10% sales in each country with Ikea stores) for the middle-class. This uniqueness of its corporate DNA is the main reason why the Ikea is so successful globally. The frugality of the founder of the Ikea with his desire to create “better life for many”, these two tenets are deeply embedded into Ikea’s corporate DNA. The frugality combining with the obsession with design forming a unique brand that became a global cult brand. As a global brand Ikea stands for 1) Unique household products with contemporary design, affordable prices that will inspire consumers 2) A gathering place the global tribes that are sensible in cost, design, and green environment. 3) Egalitarianism. The Ikea as a corporation is very flat, the executives performs first-line employees’ job in an “Anti-bureaucracy Week” 4) High Competitive. Constantly dropping the price (2-3% annually) to provide the best values for customers (consumers). What is the relationship between Ikea’s brand and design? As described...
Words: 1241 - Pages: 5
