We are coexisting in a highly competitive world and are pressured to try and keep up—to look the part of the successful professional, perfect spouse, and dutiful parent. There is always even bigger and better technology than what we bought months before, and so we want to have the newest and latest of everything. We are rarely satisfied with our “stuff” even if it’s more than our parents had when they were our age. Even during these tough economic times, many couples and families have lifestyles barely within their financial means. In our neighborhood alone, there are many newly built 6000 plus square foot homes that house only two to three people. Our children are being taught to constantly upgrade— toys, cell phones, video game consoles, laptops, clothes, cars and the list continues to grow and expand. When do we stop buying and start saving!
The Bushido code of frugality is an important topic in today’s world. Of course, this code related to warriors that were in public service in comparison to the higher ranked knights of the times, however, there is an important lesson to be learned in modern society about frugality.
What’s written about frugality in the translated version of the Bushido code is that “if those of lesser rank imitate those of greater rank, overspending on useless things, since they do not have any surplus yet their cravings are unjustified, no matter how much they economize they can not compensate. Eventually, they will go broke at a complete loss.” 1
Certainly those that can afford these items do have the luxury of spending; however, there are deeper questions to be contemplated. Does the need to spend create happiness? Is the buyer looking to fulfill something that can not be satisfied by spending on material objects? Does all this excess spending cause added waste and needless spending?
Researchers have found that low self-esteem and materialism are not just a correlation, but also a causal relationship where low self esteem increases materialism, and materialism can also create low self-esteem.
It’s no coincidence that some of the richest people in the world live in modest homes with economy cars. Rather than spending money to look the part these people use frugality to save money and invest in something that will generate a return. Their money is earning money! Being rich means being as financially independent as possible – almost no life events can impact your situation – and being surrounded by the things you care the most about.
Many of us worry needlessly about money because our security lies in the things we collect and buy and the image that we portray to others. We were taught to spend our money, charge what we can’t afford and look the part of success. Those living the Bushido should help and encourage one another to save money, not be concerned with what others think about our level of success and teach children about frugality. After all, money is not happiness—compassion and understanding bring happiness.
Exercise 1:
The next time you’re tempted to buy something new, ask yourself if this is something you need. If not, put the item back on the store display and walk away. As a reward, take the exact amount of money you would have spent on this item and make a deposit of that amount into your savings account, or even a glass jar at home. Watch the money accumulate!
Exercise 2:
Take stock in how much “stuff” you have and whether you really own these things. Notice how much of this stuff is part of a repayment plan—your personal debt. Start to eliminate unnecessary spending and pay off the credit cards to reduce your debt. Save your money, plan your purchases. When you’ve saved enough money, then buy the item. You’ll actually own your stuff rather than being indebted to a corporation. You’ll feel better about yourself and the purchase in the end.
1. Thomas Cleary, Code of the Samurai: A Modern Translation of the Bushido Shosinshu of Taira Shigesuke. Boston, MA: Tuttle Publishing, 1999.
