Frugality vs Honesty & Generosity

I've been pondering lately about the balance between being frugal and being honest and generous. As a member of the LDS Church, I have always been taught to stay out of debt and to live within your means. As a Latter-Day Saint, I have also been taught to be honest in all my dealings with men and to be kind and generous.

I believe that sometimes frugality, when taken to the extreme, comes at the cost of honesty and generosity. I think that getting something for nothing can be dishonest, and it is definitely not being generous. I believe in paying for what something is worth. If you're not paying for it, then who is? The cost has to be paid by someone.

I don't think sales or coupons are bad. I think it's great to get good deals and to compare prices. But I'm also familiar with the "rush" that you get when you get an amazing deal; and honestly, I think it can be addicting. And in my personal opinion, if something is addicting in any way, that is a red flag. Addiction is not how the Lord works, it is how Satan works.

I believe that peace and satisfaction come from living a lifestyle that isn't dependent on borrowing money or on coupons and sales. Satisfaction in knowing that we pay for what we use with the money we earn. Peace from knowing we are living a life that is not dependent on others.

Just because you can drive a hard bargain and get something for cheap doesn't mean you should. I remember being on the beach in Roatan and having locals try to sell us necklaces and hammocks. Do they take advantage of foreigners who don't speak their language? Yes. Is it good to barter with them to get a lower price? It can be. Most of the time they expect you to barter so they start out high. But if you can afford their asking price, why not be generous? Why not be generous to the person selling their wares on the street to provide for their family? Being willing to pay for what something is worth, and be sure to take into account the time, labor, and skill that went into a product.

I believe frugality is less about how far can I stretch my money, and more about identifying what our real needs are and learning to live with less. Not just to live on less, but to live with less. And we can use the money that we save to generously give to those in need.

"Every prophet in this dispensation has taught in clear, unmistakable terms that the Saints should stay out of debt, that we should not participate in “something-for-nothing” schemes, which has been stressed today. He advises us to be frugal, to save, and to earn our money the old-fashioned way, by the sweat of our face. We are admonished to teach our children the ethic of work. We have been encouraged at every turn to set the proper example of industry and thrift and also to be generous and consistent in our offerings to the poor and the needy." 

Elder Robert L. Simpson, April 1982 General Conference

I believe there is a balance we have to find between being frugal and being generous. And that balance may be different for everyone. I believe honesty is a tool that can help us find that balance. Just ask yourself, "Am I being honest to myself and to others?" when it comes to your financial choices.