According to Wikipedia, "Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing free (as in gratis) options, using barter, and staying well-informed about local circumstances and both market and product/service realities."
All of these strategies are great but maybe we should dig deeper to find the root. If we just use strategies to pick off fruit but ignore the root causes , the fruit will come back. So what is the root? I don't know all of them but one cause for our society's excess is a lack of satisfaction. If I am not satisfied with my relationship with God, myself and others, any purchase I make will not help. Living and teaching true wholeness will result in frugality; however, frugality without wholeness results in greed or asceticism without real joy.
A full checkbook without joy is not living. I want frugality but more than anything I want to be satisfied in His love. Have you thought about this virtue? What do you do to live frugally?