With the downturn in the economy, it is suddenly fashionable to be frugal. I grew up frugal, because my parents were 40 years old when they got around to having me, so they were children during the Great Depression. I think the definition of frugality has changed a lot as I watch college students head off to college this week.

When I went off to college in the fall of 1977, I felt I was pretty well versed in frugality. However, my roommate was the undisputed Queen of Frugality. I can honestly say I could not have drawn a better roommate than Maureen Johnson Schmitt, who now lives in Chinook...