Over at Get Rich Slowly:
The heart of frugality is choosing to spend on the things that are important to you while cutting back ruthlessly on the things that aren’t. Ramit Sethi calls this conscious spending, which is a fantastic way to describe it. Conscious spending implies that you’re actively choosing to spend on some things and not on others.
Conscious spending isn’t restrictive; it’s liberating. It can help you recognize when your spending is aligned with your values, and when it’s just being made out of habit.
This is good. Whether you’re spending money or attention, you should be conscious of where it’s going.