Can you be too frugal?
January 29, 2009
I wonder if sometimes frugal can become too frugal (or even cheap).
I’m all for saving money, staying out of debt and living within your means. I absolutely understand that sometimes extreme frugality is done out of necessity, but there is a point at which something that seems frugal can be unhealthy, wasteful or even hurtful to others.
There is a reason I started thinking about this. I’ve read some frugal living tips lately on various web sites that are so frugal I actually wonder if it’s even reasonable. Sometimes people aren’t actually being as frugal as they think.
I’m not talking about being “too frugal” in terms of going without cable or thrift store shopping. I’m talking about things that could actually impact one’s health and well-being or are ultimately wasting money or driving your friends and family away.
For instance, I read an account from one person who talked bout how she keeps a baby warm at night when she turns her thermostat down to 60 degrees. She described bundling this baby until he must have looked like a little sausage about burst. The baby was sleeping in three layers of clothing including tights and a turtleneck. Would you want to sleep in tights and a turtleneck?
I read another account of a woman stockpiling year’s worth of products such as toothpaste. These products have expiration dates. I’m not sure you’re helping yourself if you buy so much of an item on sale that it is past the expiration date by the time you get around to using it.
If you buy something because it’s really inexpensive or on sale and you never use it, that’s not frugal. That’s wasteful. If you know your family will not eat brown rice, it isn’t saving you money to buy a 10 pound bag that will sit uneaten until you have to toss it in the garbage. Likewise, if your family loves zucchini and you buy a lot on sale during the winter, find many ways to prepare it or to freeze it before it spoils.
The line between frugal and cheap can sometimes be blurry. I think you’ve crossed the line to cheap when your frugalness starts to affect others.
Most of us have known someone who always seems to be short on cash and “borrowing” from his or her friends. Or that person at the bar who will take advantage of others who are buying rounds of drinks, but who will mysteriously disappear when it is his or her turn to buy a round.
If your idea of frugal is sponging off of friends or family, it may be time to reassess your habits.
What are your thoughts on being too frugal? When do you think someone has gone overboard with their frugalness?
Comments
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