Thursday, August 1, 2013

Young Professionals Corner: Frugality Comes Into Fashion

Editor's note: This is the latest in a series of guest posts from young VSCPA members dealing with topics of interest to young professionals. If you'd like to write or have a topic you'd like a future blogger to cover, please email VSCPA Academic & Career Development Coordinator Tracey Zink.

By Clare Levison, CPA
Alliant Techsystems, Inc.

I believe that as CPAs we are uniquely qualified to guide people who need help with their finances.  CPAs are distinguished by rigorous educational requirements, high professional standards, and a commitment to serving the public interest.

I’m very passionate about personal finance.  My recently published book on the subject is entitled Frugal Isn’t Cheap:  Spend Less, Save More, and Live Better.  The following is an excerpt from the book:

When I was growing up, I can remember complaining to my dad about it being cold in the house. Truth be told, it was probably plenty warm for most people, but I’ve always been cold natured. “Go put a sweater on,” he would tell me. Dad’s always been a frugal man.

But today’s society has become obsessed with excess. Frugal people are seen as dull and boring. Big spenders seem flashy and exciting. However, I think the tide is finally beginning to turn on these perceptions. And that’s a good thing. It’s just not fashionable to own 20 pairs of shoes that you’ve only worn once. It’s not cool to have 30 gadgets that you never use. And if you’re spending all your money on designer clothes, you’re not stylish; you’re silly. Now more than ever, frugality is coming into fashion, and it’s hip to be thrifty. It turns out Dad was frugal before frugal was cool.

Reprinted, with permission of the publisher, from FRUGAL ISN'T CHEAP © 2013 Clare K. Levison, CPA. Published by Career Press, Pompton Plains, NJ. 800-227-3371. All rights reserved.

A large number of Americans are re-examining their finances.  They want to learn more about personal finance and how it impacts them and their future.  When each person makes responsible decisions with their money, we all benefit.  As a CPA, what are you doing to promote financial literacy?

Clare K. Levison is a certi­fied public accountant and national financial literacy spokesperson for the Amer­ican Institute of Certified Public Accountants (AICPA). She has appeared on major radio and television net­works across the country and has served as a member of the Vir­ginia Society of Certified Public Accountants (VSCPA) Board of Directors. Levison was named one of the 2010 Top Five CPAs Under 35 by the VSCPA. She has more than a decade of corporate accounting experience and is also an active volunteer, serving as PTA president, Girl Scout leader, and Sun­day school teacher. Levison lives in Blacksburg, Virginia, with her husband and two daughters.

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