1. What is Austerity? Austerity is the virtue that moderates expenses. It is closely intertwined with temperance and poverty.

2. What is the difference between austerity and poverty? The virtue of poverty or detachment moderates the excessive craving towards material goods, disregarding whether the expenditure is excessive or not. Austerity avoids squandering making sure that every expense is reasonable.

3. For example? In the case of buying a car, poverty invites each person to consider whether the vehicle is necessary and makes sure that our heart is not attached to it as if it were a whim. On the other hand, austerity makes sure you do not buy an excessively luxurious car and helps us avoid unnecessary travels. As we have proven, both of these virtues are very similar and it is fine to use them as synonyms.

4. Can I not do whatever I want with my money? You can do many things with your money, however, not anything. You can spend it in reasonable things, even in moderated whims. However, squandering is clearly opposed to justice and solidarity with other human beings.

5. Is it bad to have money? To have money is a positive thing, as it allows us to do good deeds. The bad thing is when there is an excessive crave for possessions and money (virtue of poverty). It is also key to not splurge (austerity).
Money entails the obligation to spend it appropriately.

6. An example of Austerity? A great example of austerity put into practice is to try and look after material objects; making sure they last. This is proof that money is spent properly and it does indeed matter whether something breaks or is damaged.

7. Is austerity and stinginess the same thing? Austerity makes sure that expenses are reasonable. Splurging or stinginess are both extremes situated at either side of what is reasonable.

8. Any references? The Catechism of the Catholic Church mainly addresses these topics in points 2402 and 2404. Let’s have a look at these:
"The goods of creation are destined for the whole human race (…) The appropriation of property (…) 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, first of all his family." (2404).