What's Too Frugal ?
We all want to save money and go the extra mile to do so, often times we get a bit carried away so, here's how to gauge when you're taking it a bit too far!
Deprivation: Frugality comes from sparing resources while still meeting your basic needs. Being frugal should never mean that you are depriving yourself from the basics, i.e food. When budgeting and determining what changes you're making to your spending habits the most important thing is to make sure your needs are met regardless. Deprivation is not limited to food, don't deprive yourself from basic human needs such as new clothes, human interaction ( trust me, avoiding spending money on activities can cause this) and special personal advances. Keep your needs met and it will all fall in place.
Senseless Frugality: This refers to spending money foolishly. Being frugal has to make sense, if not you're doing it wrong. I urge you to remember " Cheaper does not mean better for your pockets!" Buying the paper plates that cost 99 cents for 100 may seem like a better option in comparison to the $2.99 for 40. But let take a closer look- the food seeps through the cheaper version and you'll run through it twice as fast, hence this is what we refer to as senseless frugality you save a little right now but spend more on the bottom line. This correlates to your meal choices, do not put your health at risk by eating from the dollar menu periodically because you're trying to meet your food budget, my favorite answer to this is " You don't have to be wealthy to eat healthy "
Chrometophobia: The fear of spending money :" They worry that they might mismanage money or that money might live up to its reputation as "the root of all evil." Let me start by saying that you cannot take it with you. When it all boils down you won't have it with you in the end so what's the purpose of hoarding it ? We work to pay bills and meet our basic needs, What's left is yours to expand or spend. Having a savings and a saving plan is excellent, however in your budget you have to plan spending money selfishly. Do not let the fear of spending money stop you from enjoying the benefits from the hard work you put in on a daily basis,
Being too frugal exists and it is never the right path to take. At first it's great you're bank account is growing, you're putting in extra hours at work it's paying off- and then what? What are you doing this for? What is your driving force? Is it a new dress? A pair of new heels? Owning your own business? Identify a reason to spend money and make it your responsibility to spend it. Spending has to be just as important as saving and until we realize that,being too frugal can ruin our, emotions, heath and relationships.
