Tuesday, 7 September 2010

In defence of frugality (Part 4 of 7)

Those three deceptions have induced the exaggerated consumption that is burying thousands of men under heavy debts that could have easily been avoided. Those dangerous ideas permeate our culture and dominate our conversations. The time has come to face them with courage and assert the truth.

[1] The delusion of stability: If you still have some decades to live, chances are that your complete existence will go through a major upheaval. Such disruption might be of a nature that you cannot imagine at present.

New technology may render your job obsolete. Global competition could devalue your education. A major economic shift might put you out of business.

Reducing your present cost of living can be achieved in many ways, for example, by spending less money on food, lodging, transportation, energy, travel, entertainment, or insurance.

To be continued in Part 5

[Text: http://johnvespasian.blogspot.com]

[Image by MissTurner under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]