When Frugality Does More Harm Than Good

[jeffrey]

Frugality can be a lot of things – helpful, necessary, difficult, annoying – but I have developed a special talent for making it an unpleasant obstacle to bettering my well-being. While I’m a careful saver, I’ll spend money when I feel the situation calls for it. I’m not too tight-fisted. Work shoes need repairing? I’ll spend the money, because it’s better than buying a new pair of shoes! The vet says our cat might have a heart murmur and needs an echocardiogram? Of course we’ll do it, HE’S OUR BABY! Is my sister travelling to Russia for a semester, and am I freaking out about it? A gift of emergency money it is...

When Frugality Does More Harm Than Good

[bdwilliams]

Thanks for sharing this article. Some people taking being frugal and make saving money their only focus.

[SleeplessinChicago]

Frugality is not for the Sake of Frugality!

Thank you for sharing this great point.

It has become almost fashionable to be frugal. Even new TV shows are devoted to the topic. For example, a new show on Frugality (Extreme Cheapskates) will debut on October 16th on TLC (I believe).

I view frugality as a stepping stone in spending money wisely on things that really matter by not wasting it on compulsive or unnecessary items.

We live in a consumer centric society when we are being tempted to buy more and more stuff every second of our existence. Frugality, in my opinion, is a way of reprogramming oneself and to be able to make decisions the way we want to instead of being snake charmed by some clever advertising and selling techniques.

You are absolutely right in making your choices. I fully support your philosophy.

This is exactly why I am, personally, making a deep frugality dive, to be able to live my life richer by experience things that matter and support causes that are worth being supported.

[susie michelle]

Great share. I totally agree with you, @sleeplessinchicago, "frugality is a stepping stone." I love living the lifestyle where I am content with little and don't have to think about money too much. I don't like obsessing about frugality, but I definitely know others who think differently.

[Bryan Cranston]

Yeah 'too much' frugality doesn't strike me as bad. If it's not you who benefits from such saving (e.g. inheritance), there are those who are the better for it. It's tricky though to get the young 'uns to appreciate the value of saving if you just foist your money on their laps.

For all the bad associated with frugality (being a miser), I'd take a society of misers than those who engage in wanton consumption (the present US).