As a Malayali youngster who had landed a new job in Bengaluru, Shankar Gopalakrishnan faced a fresh challenge. He had to manage his finances, repay his educational loan, and yet not compromise on the pleasures of life.
That was when he came across the book The Psychology of Money by Morgan Housel.
“Quite a bestseller, the book outlines a human’s relationship with money, his means to survive in a world where life is dictated by this resource,” Shankar says.
“What I wanted was good savings by the time I hit 50 — a life where I would not have to compromise, and an order to whatever I do without making me feel guilty. My upbringing also had a lot to do with such an analysis. I realised what turns me on is not the kick of extravagance but the joys that freedom to explore gives. And for that, I need not splurge. There are alternatives that are more gratifying than what fiscal opulence can give me.”
The book, recommended by actor Arvind Swamy as a ‘must-read’ for youngsters, explores how one’s relationship with money extends far beyond the bills we earn to sustain ourselves. It hints that this connection is also a way we relate to nature itself.
“Which means happiness is not in spending those bills but in how well we manage them,” says Shankar. “If we use it just for our needs, it relaxes us. Otherwise, the chaos that results cannot be managed beyond a point. So, the question finally is what actually our need is and what our greed.”
This question has been circulating globally for a while. It gained momentum post-pandemic and gave rise to a new trend called the ‘underconsumption core’ — aka the ‘frugal living’ trend.
In China, markets have been rattled by the extent to which youngsters, including millennials, are embracing this trend.
Mostly driven by social media, this movement has been in vogue of late, with influencers advocating the value of buying only what one truly needs, reusing accessories, finding use in things otherwise discarded, and generally living a life where money need not be splurged to find joy.
This appears ironic in a world also filled with influencers telling people what to buy and how to choose between products. However, while influencers and their followers may seem restricted to a generation, the trend has taken root more broadly.
“This is because of the general attitude towards wellness, sustainability, and living close to nature that has become a trend,” says Sangeeta Pillai, a wealth management consultant who has switched from flashy to frugal.
“There is a cosy order that sets in. Simple joys are more addictive than the pleasure that splurging can give. Every morning, I spend some time with myself. There are several mindfulness sessions online, and they have helped me realise the beauty of frugal living.”
Earlier, her weekends were spent in places that required big spending. “I would splurge on food, drinks, and stay at places that cost me a lot,” Sangeeta recalls. ‘
“I always felt it’s my money and I could spend it the way I wanted. But Covid changed all that, especially when my pay was cut by half. Life taught me nothing could be taken for granted, and also the value of every little thing around us.”
That realisation led her to mindfulness programmes. “They helped me reorient my thoughts and made me soak in the joys of small outings, in the wayside shops where a cup of tea costs just as much as it should, in places where I get to move around and carry my own food and water rather than stay at an opulent resort where everything is taken care of. I even started making my own food, finally!” she laughs.
“Earlier, it used to be just takeaways, and I always reasoned that there was no time to cook. But now, there is time for everything – if you really want, there is time for everything.”
Sangeeta believes that the trend to plan life as per one’s needs – not greedy wants – must be passed down generations.
“I have begun to encourage my child to save pocket money, reuse his stuff, like the school bag, use pens that can be refilled, etc. Small changes do add value to life, the way it did for us when we were growing up. That was a necessity; now, it’s a choice,” she says.
For travel enthusiast Ajayan G, frugalism means planning his trips meticulously. “Even if it is a spontaneous trip, I try to look for places where I can get quality services at affordable rates. And surprisingly, I have found that if one knows how and where to look, a good trip to the Himalayas, for instance, won’t cost more than `10,000,” he says.
That doesn’t mean people should ignore needs or sacrifice comfort. “For example, I won’t get the required leave to travel in trains and buses and then get back on time for work. So, I invest in flight tickets,” says Ajayan.
“But how I manage at the destination is on me. There I go frugal. For example, there are so many youth hostels and backpacking groups that can help one find affordable, neat accommodation. There are ways we can get around using public transport or share-autos. Such kinds of travel are far more memorable. And there is a sense of achievement.”
Planning life as per one’s needs also includes home settings, and minimalism has become popular in home décor and architectural styles, notes interior designer Athira Jose.
“Homes reflect who you are. So now, there are garden corners like the ‘Namukku Paarkan Munthirithoppukal’ setting inside homes, and Zen corners created within living spaces,” she says.
“Also, aesthetics is returning to old styles, where the furniture chosen is cost-effective and resembles that of a 1930s home, rather than puffy plush sofas and ornate chairs. So, a home is seen as a place that should reflect your core more than what you want society to see you as.”
The frugalism trend has been picking up pace in urban India. There are now more people willing to buy second-hand cars, and the frequency of mobile phone upgrades has shifted from every 24 months to 36.
What about Kerala? Abhishek Ajayakumar, a research scholar at Kerala University and coordinator of ‘Tatvika Avalokanam’ community, believes it is more of the affluent who choose to be minimalistic. “Largely, the culture here is showy — probably more than elsewhere,” he adds. “So the trend is likely to percolate slowly.”
Johnson M M, assistant professor of sociology at CMS College, Kottayam, says the trend is a welcome development that reflects the cycles society undergoes.
“The drug menace and the problems with adolescent kids may give the feel that the next generation is headed for doom. But no, studies have shown that society always makes a comeback, probably because it has the mechanism to repair itself with remedial measures,” he says.
“This could be one such. And maybe it has begun slowly among the educated middle class in Kerala, but it is yet to be apparent as a trend. We need to study this.”
Well, at this point, it’s worth recalling Walt Whitman’s reflections on life after he suffered a paralytic stroke:
After you have exhausted what there is in business, politics, conviviality, love, and so on — have found that none of these finally satisfy, or permanently wear — what remains? Nature remains; to bring out from their torpid recesses, the affinities of a man or woman with the open air, the trees, fields, the changes of seasons — the sun by day and the stars of heaven by night.