Thrift (economicalness)

The – planned, voluntary refraining from spending currently available means of payment – sometimes also related to material goods (tangible goods, physical goods) – and – their resulting accumulation – for the purpose of later, better and more appropriate use. – The voluntary setting aside of money by renunciation of the present expenditure (current spending) has the thriftiness indeed with the avarice and the greed in common. But in the case of thrift, the accumulation is done for quite different reasons and purposes. The reason and intention of thrift are the possibility and willingness on better and more effective use at a later time than it could be at present, and not the desire for possession of wealth arising from overestimation. Thus, thrift as an action arises from right understanding of the matter and from morally good purposes of the reasonable man. It is therefore a moral virtue, which helps to put man in right relation and order to money and material goods, and to subordinate them to man and his purpose. Therefore it is quite correct, if in the early childhood education already (already in childhood education and care) thrift is practiced. – See Argyromanie, Chremagogik, money ethics, money faith. Money saving behavior, money psychology, money pride, harpax, hoarding, consumer spending, consumer money, account saving, mammonism, minimum estimate of future needs, misochrematism, opportunity cost, polyplusius, saving, saving meals, saving rate, prudent saving.

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/