Frugal living could endure as young people become more selective in consumption

Jakarta (ANTARA) - Indonesian anthropologist Prof. Dr. Semiarto Aji Purwanto assesses that the trend of frugal living, or a thrifty lifestyle, has the potential to endure in the long term alongside the increasing financial awareness and selective consumption patterns among the younger generation.

According to Semiarto, the current trend of thrifty living can indeed change following the rapid evolution of lifestyles and aesthetics.

“If it’s happening now, it might just be a trend, short-term. Because we’re in a world where changes are happening very quickly,” said Semiarto when contacted by ANTARA on Friday.

Nevertheless, he believes that the principles of thrifty living and more rational consumption are likely to persist because the younger generation is increasingly aware of the importance of financial management.

“Our financial awareness is getting higher. Awareness to save, to budget,” he stated.

He explained that this condition is influenced by work patterns based on the gig economy, which make the incomes of the younger generation tend to be unstable at all times.

Therefore, according to him, the younger generation today is becoming more selective in determining spending priorities and prioritising experiences over asset ownership.

“The current priorities are indeed not on ownership, but on experiences and well-being,” said Semiarto.

He assesses that the need for comfort is now also increasingly flexible because many services allow people to enjoy certain facilities without having to own them permanently.

“We can stay in apartments or rent. Choose premium online vehicles without having to buy a premium car,” he said.

According to Semiarto, the aspect that is likely to change more quickly is frugal living as an aesthetic trend, such as dressing style or visual appearance that is currently tending towards simplicity and minimalism.

“What might change quickly is frugal living as an aesthetic trend,” he stated.

However, he believes that the principles of efficiency and selective consumption are likely to persist because urban society is increasingly adaptive to urban economic pressures.

“This practice of efficiency seems to remain high due to those structural factors,” said Semiarto.