Many people that are new to frugality have a lot of misconceptions about the lifestyle. This article explains the basic idea of frugality. You can get the perfect idea of what you're "getting yourself into" (such as the phrase goes) by starting here. Knowing the basis for frugality lets you decide if it is a lifestyle that will assist you in meeting your goals.
Here is also an article dispelling some myths about frugality. You can bust this out when your friends tell you you're just being "cheap" ;-)