Abstract: The rapid development of economy makes people's life increasingly rich and happy, and college students have more and more disposable funds. Under the interwoven action of various factors, the phenomenon of college students lacking frugal morality appears. Frugality is the modern embodiment of Chinese traditional virtues. In order to comply with the requirements of the development of the times, it is necessary to cultivate the virtue of frugality among college students through strengthening self-management education, enhancing the advantages of family education, taking educational measures in colleges and universities and giving play to social education functions.