The New Frugality

How to Consume Less, Save More, and Live Better

By Chris Farrell

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

As the recession deepens, with a downturn in spending, rise in defaulting mortgages and throttling of credit, a Go-Go economy has transitioned to a 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.

Reviews for The New Frugality

The New Frugality is featured in Time’s It’s Your Money” blog: “A guide to creating a healthier relationship with your money…The author provides concrete advice on dealing with risk and debt, putting savings aside for investing, college, retirement, charitable giving—and realizing if and when you have enough.”

“Chris Farrell provides practical guidance about how to manage personal finances. In a nutshell, which is a great disservice to the author, Farrell -- who hosts a radio show on NPR-- advocates implementing a margin of safety in investing and a return to the frugality that many of us grew up with…the world would be a better place if more people followed his common sense advice.”—Newark Star Ledger

"The new frugality is not about being cheap, says author Chris Farrell. It means finding ways to preserve what’s important while minimizing the costs. The title of this book hooked me from the start. What am I writing about at The Simple Dollar if I’m not writing about “the new frugality” Chris Farrell, the author of the book, is a name I’m familiar with having been a long-time faithful listener of Marketplace Money (and it’s other Marketplace brethren) on NPR. I expected a well-written book that offered lots of insightful thoughts on the “new frugality” along with some practical tips. That’s precisely what I got. Let’s dig in.? —The Christian Science Monitor blog The Simple Dollar Read blog.

“[The New Frugality] will help you spend less and save more…This book is filled with anecdotes, historical insights, resources and common sense, all of which are designed to teach you how to wisely spend your money while saving for the future.”—The Arizona Republic

"Frugality. That's been the buzzword of the Great Recession...Being frugal doesn't mean being stingy, miserly or downright cheap. The true spirit of frugality is to be mindful of how you use your limited resources. To be prudent with your money. To buy the best of what you need but no more. To avoid waste. That's why the new frugality aligns so well with the growing interest in living green, argues American Public Media's economics expert Chris Farrell in his new book, "The New Frugality." "A sustainable sensibility both saves money and does good," writes Farrell, who also writes a column for the Star Tribune."—Kara McGuire; Star Tribune(Mpls.-St. Paul) also picked up by the Buffalo News.

Chris Farrell's column in the Star Tribune

“America's mad romance with consumer debt is finally on the decline, and Farrell, economics editor for public radio's "Marketplace Money", guides readers to a healthier relationship with their finances… With an emphasis on changing the way we live to make the most of what we have and promoting moderation, Farrell provides a solid and encouraging high-level overview of individual financial health.”—Publishers Weekly.

“Chris Farrell helps define the new frugality- and how it can be enriching.” —Minnesota Monthly.