1. What is austerity?
Austerity is the virtue that moderates our spending. It is closely connected with temperance and the virtue of poverty (spiritual detachment).
2. How do austerity and poverty differ?
The virtue of poverty, or detachment, moderates excessive craving for material possessions, regardless of whether a particular purchase is large or small. Austerity prevents squandering and wastefulness, ensuring that one's expenditures remain reasonable and measured.
3. Can you give an example?
In the case of buying a car, the virtue of poverty leads one to consider whether a vehicle is truly needed, guarding the heart against becoming attached to a luxury. Austerity, on the other hand, takes care not to choose an extravagantly expensive model, and avoids wasteful spending on unnecessary trips. As can be seen, both virtues are closely intertwined, and in ordinary speech they may often be used interchangeably.
4. Can't I do whatever I want with my own money?
You can do many things with your money, but not just anything. You may use it for legitimate necessities, and even for moderate, healthy recreations. However, outright squandering violates justice and solidarity toward other human beings.
5. Is it bad to have money?
Having money is good, for it enables one to accomplish many worthwhile works. What is harmful is the obsessive craving to accumulate wealth and possessions (countered by the virtue of poverty); likewise, one must shun reckless waste (countered by austerity). The possession of money brings with it the moral obligation to manage it well.
6. What is an example of practicing austerity?
A practical example of austerity is taking good care of the things we own so that they last. Caring for our possessions and maintaining them in good repair demonstrates that money is valued responsibly, rather than being indifferent when something breaks or is ruined.
7. Is austerity the same as stinginess?
Austerity ensures that expenses are reasonable and prudent. Wastefulness and stinginess (miserliness) are the two opposing vices located on either side of the reasonable mean.
8. What does the Church teach on this?
The Catechism of the Catholic Church addresses these realities primarily in paragraphs 2402 and 2404: "The goods of creation are destined for the whole human race (...) The appropriation of goods should allow for a natural solidarity to develop between men" (2402). "In his use of things man should regard the external goods he legitimately owns not merely as exclusive to himself but common to others also, in the sense that they can benefit others as well as himself. The ownership of any property makes its holder a steward of Providence, with the task of making it fruitful and communicating its benefits to others" (2404).