It would definitely make people more frugal / responsible with their money. 

Many people consider deflationary currency as having profoundly positive moral effects on the economy writ large. For example, people are more frugal and thus are more prone to “buy it for life”. Companies start competing on who makes the longest lasting product instead of the trendy thing with planned obselesence. Etc   

 Frugal isn't the goal. Having a good life is the goal.

Of course you can never buy ice or go on vacation but that's not the world I want to live in. 

 *ice cream