The Fashion of Frugality - the Millennials might just save the world....
It’s no secret that 2018 has been challenging. With the rising cost of living and the added environmental pressures, many young families have minimalised their way of living.
Economic commentators, including those who report for Financial Review, suggest that Gen Y’s and Millennial’s are a surprisingly frugal generation and are moving back to living habits that save rather than spend.
They are retreating to lives of simplicity and directing spending at items that offer value for money and are less disposable. Some bloggers are even touting that thrift and frugality is the “new vogue”.
Some of the most recent rises in pared-back popularity have been:
Reusable food packaging. The packed lunch is back, and not just for school. There are reusable containers for everything and even the hot water flask to bring your own cuppa is making a comeback.
Op shops and secondhand selling sites. Social commentators describe the thousands of Facebook secondhand selling sites as if it is revolutionary concept, but op shop clothing stores and even the good old Trading Post have kept this candle burning for several generations.
Reusable nappies (if you’ve got the water to wash them). A combination of environmental consciousness and cost minimising has seen an overwhelming increase in “modern cloth nappy” companies. Some companies report reusable nappies halve what families would pay for disposables over the child’s nappy-wearing lifespan AND they can be used between multiple whipper snappers.
Home-grown and home-made. Not only are the younger generation showing that they’re savvy but they’re crafty too! Aside from home-made hampers being the new “hipster” gift trend, some stay at home parents are on-selling their crafty creations using online selling platforms like Etsy, eBay and Facebook.
Family camping trips. Overtly luxe resort holidays are out; tents and pop top vans are in. To the extent that the more retro the caravan, the more on-trend a family is. Bonus points if it was bought secondhand.
So the jury is in. It’s not all smashed avocado and beard oil - the Millennials may just be the big savers we didn’t expect to see coming!
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