Will “Forced Frugality” Last?

Lately I have been hearing about the concept of “forced frugality” from the media and my peers. Many colleagues and family members say they feel a need to be frugal in this economic climate due to job loss and investment losses. With this shift to frugality it seems that shopping at thrift or dollar stores is suddenly trendy. However, will this new wave of frugality last? (Recessionwire co-founder Sara Clemence isn’t so sure it will.)

Right now some households have no choice but to be frugal. With job losses, credit card companies aggressively cutting credit lines, and home equity lines drying up due to the drop in real estate prices, many are forced to be conservative with their cash…