The New Frugality

Businessweek has a new article out about the new age of frugality.

People who overconsumed during the past decade are now rejecting extravagant lifestyles. They're spending less, and more wisely. Some are getting their finances in order. Others are fearful of losing their jobs, shocked by investment losses, or hunkering down amid the general uncertainty. ...

Which brings us to what John Maynard Keynes called the paradox of thrift. What's good for the individual, argued the famous economist, can ignite or deepen a recession. But that won't deter the newly thrifty. "I can't help the economy," says Kim Schultz, a resident of hard-hit Avoca, Mich., who with her husband, Jon, owes $40,000 in credit-card debt. "I've got to help myself." On the other hand, this newfound austerity could—emphasis on could—rewire Americans as savers rather than spenders. And that would help put the economy on a sounder footing over the long haul.

Our friend, Lily from Augsburg, Germany, has brought our attention to a phenomenon called Local Exchange Trading Systems. In essence, "LETSystems" are local, non-profit exchange networks in which goods and services can be traded without the need for printed money. It's a barter system.

I know of a few LETSystems that are active in the United States today, but I can't personally vouch for the work that they do. But, I admit, the concept of bartering goods and services intrigues me. One way to do it is through the Internet. According to an article called Consumers Try Bartering To Combat Costs,

A number of online bartering sites––including U-Exchange.com, Barteryourservices.com, and Barter Bucks––are seeing significant growth. Online classified-ad site Craigslist also has seen its monthly "barter" postings across all cities double to 121,173 in April 2008, up from 63,624 in April 2007.

Another way to make sure that you give the things that you don't need anymore a second life is to join the freecycle network. The motto is, "Don't throw it away, give it away." Freecycle is active in the United States and a lot of other countries.

The 20 healthiest foods for under $1

This blog posting identifies the 20 healthiest foods for under $1 as:

1. Oats
2. Eggs
3. Kale
4. Potatoes
5. Apples
6. Nuts
7. Bananas
8. Garbanzo Beans
9. Broccoli
10. Watermelon
11. Wild Rice
12. Beets
13. Butternut Squash
14. Whole Grain Pasta
15. Sardines
16. Spinach
17. Tofu
18. Lowfat Milk
19. Pumpkin Seeds
20. Coffee

I take issue with milk of any kind, although I love the taste of milk. The jury is still out on the safety of the hormones and antibiotics they are adding to milk. And, soy milk, alas, costs twice as much as cow's milk.

And it's not true that wild rice costs the same as white rice. Have you checked the price of wild rice recently? White rice costs way less than $1 per pound, and the last time I checked, people who consumed white rice (such as in China or Japan) weighed less and had lower heart disease and cancer rates than people in the West. That's because they eat white rice with a variety of veggies and fish.

Also, I've been hearing about people buying fresh produce at U.S. dollar stores.

I would add any of the variety of bokchoys in your Asian store, which usually can be bought at less than $1 a pound and pack a nutritional punch. And:

• Garlic
• Onions

Most important of all, avoid soda of any kind. They are expensive empty calories. And learn to cook from scratch. You could make pizza dough for cents if you know how to make use of flour and yeast. Packaged food of any kind is full of mystery ingredients, ingredients that you can't pronounce.

If you can't pronounce it, don't eat it.