We all hear about how frugal living has enabled people to live a more fulfilling life, pay off their debts, pay off their mortgages, retire early… and so on. But have you ever wondered if there are downsides to living frugally?
One Reddit user did. He posted on the platform asking people whether they thought about what they were missing by living frugally. According to him, missing traveling and other related experiences were some of the downsides of his frugal lifestyle.
Other Reddit members chipped into this conversation with their own experiences about what they missed by living frugally. We have sampled some of the best responses here.
DIY Can Be a Money Pit if You Do It Wrong
A DIY lover points out a downside of being frugal, “DIY is maybe the biggest frugality pitfall for me. I like to do things myself to save a little and have customized stuff, but not all skills are easy to learn on the first go…”
This can prevent someone from getting the good stuff and waste a lot of time looking for the best deal, “ Frugality is, “Am I getting a good deal? Could I get a better deal by sacrificing something I don’t care about?” But cheapness is “is this the lowest possible cost?” And they are SO DIFFERENT. Cheapness is willing to sacrifice quality of life. Frugality is trying to improve quality of life.”
The Guilty Feeling
Once you are used to being frugal, you feel guilty when you deviate from this lifestyle, “I love to cook from scratch and mend my clothes, etc. to be frugal, but with working full time and often overtime, I can end up burned out and exhausted and feel guilty if I take a few days off cooking and eat out or buy lunch instead of packing it.”
Pressure To Help Others Is Real
You feel guilty that others are struggling, and you cannot help as this user does, “I also have friends who are less frugal and have no savings, so feeling pressure to lend money and/or guilt that they are struggling while I have money in the bank is hard. I’m not rich by any means, but I’m not living paycheck to paycheck while many of my coworkers are.”
It Prevents One From Enjoying Epic Experiences
One user’s frugal nature could not allow her to enjoy her experiences abroad, “I traveled to Europe to study abroad and was super frugal and regret multiple things I bypassed due to cost like tours, museums, making travel more difficult, and hanging out with the frugal minded people just to save when I didn’t enjoy their company. My biggest regret to this day and it was due to covid happening (we were kicked out of Europe during our study abroad several months early), and I’ll never get the time to go back like that due to PTO and working now. I learned my lesson and no longer do this with my short trips, etc.”
Worrying About Paying More
You are stressed when you feel you have to pay more for something, “I stress myself out when I choose to pay more for something, even when it really does help me in some significant way. Because I didn’t have to.”
Some Things Bought Frugally Are Not Worth It
One user puts it better, “Those times when bought a bunch of something on clearance, taken one bite and gone “oh no…I suddenly know why this was on clearance.”
You Have To Remind Yourself To Take Care of Yourself
Frugal people rarely take care of themselves, “I pay very low prices for self-care expenses like massages and physio because of my benefits – even the $35 that I would pay for an hour massage bothers me when I enter it into the spreadsheet at the end of the month. I have to remind myself that if I don’t take care of myself, the money saved won’t be worth it!”
You Feel Insecure and Unstable
If you are not financially okay you feel insecure, “I have also been ridiculed for being a cheapskate. Maybe I am and that’s something I question myself about all the time. At what point does frugality become unreasonable? I know somewhere I feel insecure and unstable unless I have something to fall back on financially.”
You Lose Time
Looking for deals can be time-consuming, “Time lost at times getting a frugal purchase to work. Time is money is not a lie,” says a user
Getting Low-quality Stuff Becomes Expensive in the Long Run
Not buying quality stuff is counterproductive, as this user notes, “I purchased a drip coffee maker that wasn’t cheap ($110), but it was not the Technivorm Moccamaster I wanted ($320). I regret not getting the more expensive coffee maker, as I love grinding coffee beans every morning and relish high-quality coffee. Until this coffee maker breaks, I feel ‘stuck’ with a coffee maker that is just okay.”
Paying More To Correct Your Mistakes
“I do my own mechanic work. Sometimes, I get in over my head as far as skill and knowledge level, and I wind up paying for a professional mechanic to do it correctly. I usually laugh it off and chalk it up to hubris,” explains another user.
10 So-Called “Frugal” Habits That Are Actually A Waste Of Time And Money
Do you know any things that people do that they think are frugal but actually aren’t saving them money but sometimes are just wasting their time and money?
I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
15 Tips For Frugal Living On A Tight Budget
If you are looking for tips for frugal living on a tight budget, this post is for you.
Being on a tight budget means looking for even the slightest opportunity to save money. It could be saving to clear your loans, for a bigger purchase, or even for early retirement.
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows, and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
12 Not Very Obvious Sign That Someone Is Rich
It is easy to know when someone is rich. However, sometimes it is not obvious. One Reddit user wanted to know what non-obvious signs pointed out that someone was rich. We have sampled some of the best responses from other Reddit users in that conversation.
This was produced and syndicated by A Dime Saved.