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Frugal Articles of the Week

By Frugaling 5 Comments

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Reading Nook Photo

Today I wanted to feature a few frugal articles that caught my eye this week. Curl up in your favorite reading nook and enjoy. Hopefully these encourage you to live frugal lives!

A Counterculture Spirit Flourishes, Preserved Under Fiberglass Domes by Patricia Leigh Brown
When I was in college, I lived in an old residence hall with a drab blue carpet. I didn’t get much of a choice about where I lived or roommate. Thus, I was socked away in a hall that was perpetually too hot and overcrowded. But there’s another, cooler way. Over at UC Davis, there’s an incredible cooperative community residence hall. They grow plants, vote democratically, and are all around awesome!

Oxfam Study Finds Richest 1% Is Likely to Control Half of Global Wealth by 2016 by Patricia Cohen
The New York Times’ Patricia Cohen found that major economic studies suggest that about 80 people have the wealth of 3.5 billion people. Oxfam and other charities/NGOs are working to educate everyone about this vast income and wealth inequality that affects us all.

The Possibility in Blank Spaces by Cheryl Moreau
The consumption culture tends to find empty spaces… for lack of a better term, empty. Finding something blank or empty feels like a void — as if something is missing that should be present. Cheryl writes about this problem, and how she looked past emptiness and saw freedom. Brilliant thought piece!

Why Is No One Talking Medium-Term Financial Goals? by Stefanie O’Connell
Stefanie asks one of the most important questions about creating medium-term financial goals. Unfortunately, most people don’t plan or budget for the middle years particularly well. Retirement accounts may grow, and emergency funds might protect, but there’s often this palpable absence of the medium-term. Stefanie takes a crack at fixing that for us.

Filed Under: Save Money Tagged With: college, Financial, Frugal, goals, Income, Income Inequality, Minimalism, Wealth

In Search Of Robin Hood

By Frugaling 1 Comment

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Robin Hood Tax Flickr Photo
Photo: Robin Hood/Flickr

Only 80 people

Today, we stand at a dangerous precipice. About 80 people have the same amount of wealth as the bottom 3.5 billion people combined — $1.9 trillion.

That’s a staggering gap in equity.

Unlike the myth of “job creators” and “hard work,” these 80 people can never match the productivity and ingenuity of 3.5 billion. Unfortunately, the system of global income and wealth inequality doesn’t allow for more social distribution.

We need a Robin Hood

There’s a legendary hero who attempted to change these economic circumstances: Robin Hood. Whether man or myth, he was a rebel. The character is famous for taking from the rich to give to the poor.

He forcefully redistributed wealth through illegal, anarchic action in a folklore landscape that was divided and unequal. Simply put, he noticed injustices and took individual action to change the system of wealth inequality.

Levying a global wealth tax? Nearly impossible.

In Thomas Piketty’s 700-page tome, Capital in the Twenty-First Century, he acknowledges deep economic patterns of global wealth inequality. In no uncertain terms, Piketty suggests we are approaching another Gilded Age.

His major proposal is a global net worth tax to reassert some amount of economic equality (among other suggestions). In a way, this could be a heroic Robin Hood-like effort to help the planet’s people — not just a select few.

A global net worth tax might not be possible. Too many countries, wealthy people, and corrupt states would prevent it from happening. But there’s something else that’s growing in popular support: the Robin Hood tax.

The Robin Hood Tax could work

This cleverly named tax is supported by around over 350 economists and 50 charities including Greenpeace, Christian Aid, Comic Relief, Oxfam, One, Save the Children, The Salvation Army, and Unicef. Ultimately, this tax would be levied on banking and financial transactions that are traditionally made by the wealthiest 1%: those in the financial industry.

Potentially, taxes on financial instruments and industry in general could raise billions of dollars in revenue. The “Financial Transaction Tax (FFT)” at the heart of the Robin Hood tax could raise about 380 billion dollars per year.

These taxes would be sorely received by the wealthiest classes, but it would create a base and middle class for the majority. This could change lives.

Now, we just need to find a politician that’ll put on some green tights.

Filed Under: Social Justice Tagged With: Charities, Economics, Finances, Financial Industry, Income Inequality, Robin Hood, Robin Hood Tax

Social Justice Before Personal Finance

By Frugaling 6 Comments

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Martin Luther King Jr Memorial MLK Day
Photo: Ron Cogswell/Flickr

Today feels different.

Perhaps it’s because today we honor a fallen hero of the civil rights movement.

Perhaps it’s because today I watched a new film — Selma — chronicling Martin Luther King’s work in Alabama.

Perhaps it’s because last year we lost so many black and brown minorities to police brutality.

Perhaps it’s because, presently, black and brown minorities represent about 58% of all prisoners, while only being about 25% of the total population.

Rather than writing another article about saving on laundry, coffee, or toilet paper, today I wanted to recognize and remember those who we’ve lost or are currently struggling.

Financial concerns are closely tied to these issues of social justice and multiculturalism. The closer we come to equal opportunities, the more democratic society we’ll have.

That’s worth fighting for, isn’t it?

Filed Under: Social Justice Tagged With: Martin Luther King, Minorities, MLK, Multiculturalism, Personal Finance, Prison, Social Justice

Frugal Articles of the Week

By Frugaling Leave a Comment

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Reading Nook Photo

Today I wanted to feature a few frugal articles that caught my eye this week. Curl up in your favorite reading nook and enjoy. Hopefully these encourage you to live frugal lives!

This powerful Reddit thread reveals how the poor get by in America by Max Ehrenfreund
What does poverty in America look like? It can be difficult to truly understand, but this Washington Post article aims to capture some of the harder parts. They found a Reddit thread of real-life examples of poverty, and what people sacrificed to get by. It’s a painful reminder that we have a lot of work to do to reduce poverty.

How to Spend $50 a Week on Groceries by Cat from Budget Blonde
One of the most difficult parts of my budget is food. I eat out too much, and have some weird reactions to certain foods. Cat explains three awesome methods for saving on your food budget and staying at $50 per week! Really impressive job.

Why Wages Won’t Rise by Robert Reich
From the Clinton White House to University of California, Berkeley, Robert Reich has been a leading economic thinker. In this article he explains how — despite greater employment rates — wages aren’t rising as we might expect. The culprit is complicated, but might be related to greater automation.

The Bling Dynasty by Devin Friedman
“Communist” China isn’t looking so equal. Over the last decade, hundreds of people have become billionaires. And in turn, corporate giants have flocked to China for a piece of their wealth. In this crazy ride of an article, Friedman catalogues the wacky world of China’s new rich — spending money wherever they can.

Filed Under: Save Money Tagged With: Articles of the week, China, Employment, Frugal, groceries, poverty, reddit, Wage

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