Just a short positioned up nowadays to hyperlink to this adorable little video produced by way of the Center for a New American Dream:
It also, apparently, means a higher quality of life. In the video, psychologist Tim Kasser explains that the more people value money and material goods, the less happy they tend to be with their lives. By contrast, building a life that "expresses your intrinsic values"—more time with loved ones, meaningful work (even if it comes with a lower salary), and involvement in causes you care about—boosts quality of life in ways that more income, more expenses, and more material goodies can't. In fact, the research cited in the video indicates that not only is "eco" a natural companion for "frugal," but also that the word "frugal" itself, in its truest sense, refers not to deprivation, but to enrichment. In the modern world, frugality really does live up to the ancient origins of its Latin root, frux, meaning fruit: a frugal life is also a fruitful life, filled with joy and abundance that mere "stuff" can't provide.
