Wednesday, July 30, 2008

Frugality versus Thrift

In my last post on using coupons, I wrote something that, frankly, surprised me when I wrote it. It was that saving money with coupons at the checkout made me feel thrifty, and I liked it. Imagine my surprise. Me, the gal who is repulsed by being frugal, enjoys being and being seen as thrifty! How can two terms, so close in meaning, have two very differing reactions?

I started by visiting Merriam-Webster online in order to do a bit of dictionary research:

frugal
Pronunciation: \ˈfrü-gəl\
Function: adjective
Etymology: Middle French or Latin; Middle French, from Latin frugalis virtuous, frugal, from frug-, frux fruit, value; akin to Latin frui to enjoy
Date: 1590

: characterized by or reflecting economy in the use of resources
So, being frugal is "economy in the use of resources" AKA using less. In the case of finances, this would be spending less. The root of the word is from virtue, which comes from fruit (fruit of ones' labors?).
thrift
Pronunciation: \ˈthrift\
Function: noun
Etymology: Middle English, from Old Norse, prosperity, from thrīfask to thrive
Date: 13th century

1: healthy and vigorous growth
2: careful management especially of money
(plus a couple more unrelated items)

thrifty
Pronunciation: \ˈthrif-tē\
Function: adjective
Date: 14th century

1 : thriving by industry and frugality : prosperous
2 : growing vigorously
3 : given to or marked by economy and good management
Thrift, on the other hand, is "vigorous growth" and "careful management." Notice that the root word means to thrive. Being thrifty then is thriving through "industry and frugality." Ah! Not just being frugal for frugality's sake, but being frugal in order to thrive. Careful management with the goal of being prosperous and growing vigorously.

prosper
Pronunciation: \ˈpräs-pər\
Function: verb
Etymology: Middle English, from Anglo-French prosperer, from Latin prosperare to cause to succeed, from prosperus favorable
Date: 14th century

intransitive verb
1: to succeed in an enterprise or activity; especially : to achieve economic success
2: to become strong and flourishing
transitive verb: to cause to succeed or thrive

prosperous
Pronunciation: \ˈpräs-p(ə-)rəs\
Function: adjective
Etymology: Middle English, from Medieval Latin prosperosus, from Latin prosperus
Date: 15th century

1: auspicious, favorable
2 a: marked by success or economic well-being
b: enjoying vigorous and healthy growth : flourishing
Here again, we see the term "thrive" (which relates to thrift) as well as growth both "vigorous" and "healthy." There's definitely a tight relationship between the definitions of thrift/thrifty and prosper/prosperous.

It's becoming clear to me that underlying all my keys to prosperity is the core concept of being thrifty. And what's thrift, but using frugality and good management in order to flourish and grow? Frugality is simply a means to an end and not an end in and of itself. It's a choice you might make in order to become more prosperous.

Can I make better choices in light of this information? Can I get past my disdain and discomfort with the cheapest option if that option is actually the thrifty one? It's certainly given me a lot to think about.

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