A few days ago, I stumbled across an article on the Wall Street Journal called "The Biggest Ways People Waste Money." I'm always interested in issues of frugality, so I read the piece with attention.
As is typical for these kinds of articles, the piece addressed financial leaks from small (daily coffees) to large (mortgage payments). The author interviewed several financial experts to seek their advice, including someone named Robert Shiller, a Nobel Prize-winning economist and Yale University professor.
It was Dr. Shiller's advice that caught my eye. Here's what this expert had to say: "Big houses are a waste. People are still in a mode of thinking about
houses that is kind of 19th century. As we modernize, we don’t need all
this space. For example, we don’t need elaborate kitchens, because we
have all kinds of delivery services for food. And maybe you don’t need a
workshop in your basement, either. You used to have a filing cabinet
for your tax information, but now it’s all electronic, so you don’t need
that, either. And bookshelves, for people who read a lot. We have
electronic books now, so we don’t need bookshelves anymore."
Wha-a-a-a-a-t?
Okay, I get his point if he's talking about the wasted space and massive mortgage of a typical McMansion. But is he implying a kitchen, a workshop, a filing cabinet, and bookshelves are economically wasteful? I don't mean to sound insulting, but this logic is so astoundingly urban.
"We have all kinds of delivery services for food." Really? Constantly eating takeout food is economical? What about those of us who live far away from restaurants? What happens if food delivery is unavailable due to weather or pandemic lockdowns?
"Don't need a workshop in your basement." So, presumably, says a man who is likely unfamiliar with tools and how they can save untold thousands of dollars in standard repairs or modifications.
"You used to have a filing cabinet
for your tax information." A file cabinet is a waste of money? I've done our business and household taxes by hand since 1993. I need somewhere to store the paperwork since I sure as heck ain't putting our sensitive financial information in the "cloud."
"We have electronic books now, so we don't need bookshelves anymore." Um, no. Just......no.
It makes me wonder what Dr. Shiller's home looks like. Does he live in sterile, minimalist space with no home comforts? Does he live in a tiny home (in which I understand space concerns)? Frankly it sounds like he's doing his best to strip away anything that makes a house a home. Home-cooked meals, a workshop for everything from a woodcraft business to DIY repairs, a file cabinet to keep critical paperwork in order (forget the "cloud"!), and the comfort and beauty of bookshelves – how are these things a waste of money?
Of course, I could be completely misinterpreting Dr. Shiller's point, but it seems his ideas of economy are at odds with our ideas of what brings us economic freedom.
Yes, economic freedom. There comes a point where purchasing the goods or services of outside providers is more costly than the slightly larger home space necessary to provides those goods and services for one's self.
I'm not the world's greatest cook, but a kitchen of sufficient size to get a job done is critical. I think of the endless cooking and canning projects I've done in our kitchen over the years, and wonder how Dr. Shiller can think food delivery is somehow a better financial choice.
As for a workshop, this is essential for those with a self-sufficient mindset. Not only has Don supported our family through the woodcraft business for three decades, but the number of things he's built, fixed, repaired, improved, or MacGyver'd over the years is astounding. It has also saved us a stinkin' fortune. When we were getting ready to sell our old home, he did all the improvements himself – because he had the right tools. It would have cost tens of thousands of dollars to sublet out those skills. Believe me, a workshop is not a waste of space or money.

Filing cabinets? I've done our taxes by hand since we started our woodcraft business in 1993. Over the years I've gotten compliments from various professional tax preparers on how I can always find whatever I need at a moment's notice to document whatever deduction we've taken or justify any financial decision we've made. I keep every possible receipt for every expenditure we make. Sorry, I'm not about to change my ways over the space needed for a file cabinet.
And anyone who claims bookshelves have no place in a home is just plain nuts.
Look, we just moved from a 3600 square foot to a 1400 square foot
home. There certainly comes a time in life when downsizing makes sense.
But it would be fiscally absurd to give up the space and the things that allow us to live a frugal, non-wasteful lifestyle simply because some economist apparently can't grasp how having room to do things is cheaper than hiring someone else to do those things.
But maybe I shouldn't be too harsh on Dr. Shiller. He predicates his advice by reminding us, "People are still in a mode of thinking about houses that is kind of 19th century." Maybe that's the difference between urban and rural. Most people in rural America are very 19th century by preference.
The only reason I can fathom for why Dr. Shiller gave this kind of economic advice is because he's never had the opportunity to step outside his ivory tower bubble and see how Middle America lives. It would be an interesting academic exercise to invite this Nobel Prize-winning economist to visit us and tell us why our kitchen, our workshop, our file cabinets, and our home library are a waste of money.
But it'll never happen.