Following the ‘Great Resignation’ and ‘quiet quitting’, the latest trend in the workforce is ‘frugality’. Though the concept isn’t anything new, it was recently mentioned in an article by Bloomberg News. If you’re feeling burnt-out but have found quiet quitting not to be your thing, it could be worth considering.
As its name suggests, frugality is related to watching your spending, though, in this context, it’s meant to better your work-life balance.
The idea is this: you reduce the hours of your current job or take on a less-demanding job, and, therefore, take a pay cut. To accommodate this, you live more frugally — carefully assessing your budgets and foregoing some luxuries like often eating out, buying clothes new and going on a couple holidays a year.
The result? You have better work-life balance and, by being more mindful with your spending, your finances aren’t taking as much of a hit.
If you’re not familiar with quiet quitting, it’s a concept that isn’t new, but has recently been more talked about. Back in July, TikTok user @zkchillin posted a clip about it that went viral.
“I recently learned about this term called ‘quiet quitting,’ where you’re not outright quitting your job, but you’re quitting the idea of going above and beyond,” he said. “You’re still performing your duties, but you’re no longer subscribing to the hustle culture mentality that work has to be your life — the reality is, it’s not and your worth as a person is not defined by your labour.”
@zaidleppelin On quiet quitting #workreform ♬ original sound – ruby
“This works best if you can tolerate your job — if you’re miserable, get outta there! Your peace of mind comes first,” he added in the comments.
It’s been described as consciously choosing to avoid working beyond the tasks outlined on your job description, and doing the bare minimum to stay employed, explains Sally McKibbin, Career Coach at job listing site Indeed.
“But quiet quitting doesn’t need to be negative, and it doesn’t mean that workers who ‘quiet quit’ are slacking off,” McKibbin says. “It’s simply learning when and where to put healthy boundaries in place to create a sustainable and fulfilled life outside of your professional obligations.”
McKibbin attributes the trend to the after-effects of the pandemic, which left many workers overwhelmed and burnt out, prompting them to reflect on how they want their lives to look and feel — both in and outside of the workplace.
The next after-effects of the pandemic trend? It could just be frugality.