Whether you call it “The New Frugality” or “The Anti Bling (Stuff) Movement”, the shift away from consumerism to frugality-ism is here. This movement grew roots when the proverbial corporate ladder was shoved from the corporate headquarters building shifting employment loyalty and retirement responsibility from companies to employees. In essence they said -save for your own damn retirement…and oh yeah, your job isn’t secure. If need be, we’ll cut our labor force to make our profits.

Now, there is no retirement, no job certainty, AND no profits as our economic struggle approach almost a decade. This combination of policy and economic difficulty has created a new frugalists, mostly made up of generation X and generation Y that have a distaste for material “bling” if it impedes their progress for financial freedom. This is one band wagon you might consider jumping on soon.

On Nightly Business Report, Rick Newman from U.S. Business News and World Report gave a great report on “The New Frugality”. You can see the clip below. For an excellent article on the topic, check out ” The End of Credit Card Consumerism”by Kimberly Palmer, also at U.S. News and World Report.