Thrift! Remember the term? It's hardly fashionable today - not just the word but the practice of.
Thrift - "Wise economy in the management of money and other resources; frugality." Source
South Australian Senator Cory Bernardi makes some valid points about the problems caused by easy money.
The race that stops a nation has been run and won. And when the hype of the US Federal election subsides, the focus of many Australian's will return to their personal financial position.Senator Bernardi has also written a book on how to teach our children good money habits …
And in many cases they won't like what they see. With the economy slowing, unemployment rising and a lot of personal debt in the system, many are right to be worried.
Simply put, Australian's (like many other nations) have been living beyond their means for too long. Consumer credit has replaced thrift and saving as a means of getting what you want. >>more
See also: CPA leaflet “Creating good money habits”