The New Frugality by Chris Farrell

As the recession continues, with a downturn in spending, rise in defaulting mortgages and throttling of credit, a Go-Go economy has transitioned to an Uh-Oh economy. How did we get here, and what does it mean for individuals and families? The New Frugality lays out how Americans have overspent, and offers a way out through consuming less and saving more — showing that living simply is not just living cheaply.

---

From Chris Farrell

Economic downturns often accelerate major social changes. That's certainly the case with the Great Recession. It is accelerating a trend already underway in America towards a New Frugality — a fresh way of thinking about how, what, and why we consume. In today's struggling economy, a "sustainable" lifestyle isn't just one that's good for the planet — it's one that is based around core values and one that sustains your bank balance as well.

Frugality doesn't mean old-fashioned penny-pinching — far from it. It means spending your money on quality instead of quantity — buying the best you can afford but the least you need. Drawing on his years of conversations with public radio listeners, the book offers both a perspective on managing money for the long haul and dispenses down-to-earth, practical advice for every aspect of your financial life, including:

• How to ensure of a “margin of safety” in your spending.
.
• The frugal home: renting, owning, and which is right for you?
• The two best ways to save for college.
• Wise debt vs. foolish debt.
• Why giving your money away can be “newly frugal.”

The New Frugality is not just belt-tightening. It's a new paradigm in which we're learning how less really can be more. It adds up to a completely new way to spend and save — a lifestyle of less waste, lower environmental impact, greater peace of mind, and in the long run, deeper satisfaction.

---

From the publisher

Public Radio Marketplace correspondent Farrell offers a new blueprint for the new economic reality — the philosophy and techniques of living frugally.

As the recession continues, with a downturn in spending, rise in defaulting mortgages and throttling of credit, a Go-Go economy has transitioned to an Uh-Oh economy. How did we get here, and what does it mean for individuals and families? The New Frugality lays out how Americans have overspent — and offers a way out through consuming less and saving more — showing that living simply is not just living cheaply.

What is required is a paradigm shift. We need to learn to live more modestly by cutting back on spending, actually attempting to live within our means and increasing savings. Farrell outlines creative new ways of thinking that can help us to accomplish this, not just by reverting to earlier financial models, but by innovating new solutions that are appropriate to the times we live in. In some ways, The New Frugality is the fiscal equivalent of the green movement; and indeed, going green is also part of the project. In The New Frugality Farrell will show where the economy is going, how it will affect regular families, and how they can weather the storm.

---

Related media

The New Frugality (sample from the audio book)

The frugal future (Guest on Midmorning on Minnesota Public Radio)

Frugality is back in style (Money Clip video from Marketplace.org)

Straight Story: frugal or cheap? (Program audio from Marketplace Money)

---

Chris Farrell appearances

Wednesday, January 20, 2010, 7 p.m.
Vroman's Bookstore
Pasadena, CA

Thursday, January 21, 2010, 7 p.m.
Berkeley Arts & Letters at The Hillside Club
Berkeley, CA

Friday, January 22, 2010
Booksmith
San Francisco, CA

Thursday, January 28, 2010, 7 p.m.
Brookline Booksmith
Brookline, MA

Monday, February 1, 2010, 7 p.m.
Politics & Prose
Washington, D.C.

Tuesday, February 2, 2010, 3:00-3:30 p.m.
Union League Club
Chicago, IL

Wednesday, February 10, 2010, 7:30 p.m.
Town Hall
Seattle, WA

Wednesday, February 17th, 2010 at 7:30 p.m.
Fitzgerald Theater
St. Paul, MN

---

Reviews

Publishers Weekly Review
“America's mad romance with consumer debt is finally on the decline, and Farrell … guides readers to a healthier relationship with their finances. … Farrell provides a solid and encouraging high-level overview of individual financial health.”