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Published on September 23rd, 2013 | by Pete

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5 Signs that you’re Living too Frugally

Most people, at some stage of their life, will try to save a few dollars. It is good to be careful with money and to do this you may, on occasion, have to live a bit frugally. However, living frugally can sometimes become an obsession and before too long, you may find yourself doing without the basic necessities of life. Being frugal may mean you are prudent, but it can also boarder on being quite stingy. Frugal people usually become hoarders so they do not have to outlay money for items in the future.

You shop at multiple stores

It’s okay to go to different stores for specialty items, but if you driving to many different supermarkets to take advantage of their weekly specials, it might just be a counter-productive exercise. With the rising cost of fuel, it might be a better option to just shop at the one place, thereby spending fuel money on just one trip.

You don’t enjoy life

Being frugal, can mean you are constantly on guard. You analyse absolutely every cost from essential food items to electricity and water bills to fuel costs. You won’t drive any more than necessary because you will go over your fuel allowance and you won’t even buy at sales because you always feel you can get a better bargain elsewhere. This frugality may take over your life, but sometimes it is good to treat yourself.

You are a scavenger

Somebody’s trash is someone’s treasure. To a certain extent, that is true but if you find yourself scavenging through the local Council kerbside collections and hoarding items that you will never use, maybe it is time to take a reality check. If you buy items at the local op shop when they have their one dollar days, again you are hoarding unnecessary items and you would, in fact, be better off saving that one dollar!

Expiration dates don’t mean a thing!

You always look at the best before date or the use by date in the hope of getting a mark down bargain. Certain perishable items have dates on them for a reason; the product will actually spoil at that date. At the risk of becoming ill, it might be better just to let the item expire and not put it into your mouth.

You rarely buy toys

We are bombarded by advertisements proclaiming the new must have toy that is ‘in’. If you take your child to a department store to play with all the toys, but never buy any, you could be denying your child some pleasure and a sense of ownership and responsibility. A lot of children have far too many toys, but a treasured toy can bring a lifetime of wonderful memories.

It is a good thing to save money and not become a spendthrift. Basic health and cleanliness should never be overlooked when living frugally. However, you can take living frugally too far. There are other ways you can reduce your outgoing expenditure. Fox Symes offer a debt solution option where you can reduce your debt by consolidating loans and refinancing. The FSA Group can also give assistance on sticking to a budget, so contact them today to take the first step towards regaining control of your finances.

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One Response to 5 Signs that you’re Living too Frugally

  1. Kevin Wilderman says:

    Interesting post. I think to say that living frugally means you don’t enjoy is a bit extreme though. Which would some people enjoy more- bankruptcy or watching their pennies more? Other than that, I completely agree with your points.

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