From the Boston Gobe:
Anne-Marie Faiola remembers resenting working in her momâ€™s garden as a teenager while her friends were out having a good time. But if she wanted spending money, she had to work for it.Yet any ill feelings Faiola had about her parentsâ€™ lessons in frugality are long gone. These days, when she sees friends burdened with debt, Faiola, 33, is grateful. â€œIt didnâ€™t always feel like that,â€™â€™ said the Bellingham, Wash., website entrepreneur. Yet when the economy went south and she had money in the bank, Faiola knew whom to thank.Frugality has taken on a certain shabby chic. Thereâ€™s always been a segment of the population that by conviction, or necessity, saved by eating at home, shopping at discount stores, and choosing practical cars over luxury models.â€œI did have my time of going wild, but I always paid it off,â€™â€™ said Priti Mehta, 28, who works for a nonprofit and is a graduate student in Albuquerque.Financial pundits insist children absorb the spending habits of their parents. Yet thereâ€™s little research, said Tim Kasser, chairman of the psychology department at Knox College in Galesburg, Ill. â€œThrift hasnâ€™t been of major interest to American culture in the last 60 years or so,â€™â€™ he said.Yet if parents make saving money fun, give children choices, and explain why careful spending is a good way to live, the children will probably get the message, he said.