Do you have a crippling activation to frugality? It can happen. A Reddit user offers a good illustration concerning this in his post;
The OP says that most of his friends know that he is fairly cheap, but no one knows the extent to which he takes it. He wears the same clothes he owned back in high school almost a decade ago and drives the same car he bought seven years ago. He does not insure the car because he wants to save money.
He makes $2000 pm, spends $500 on utilities, and saves the rest. He saves exactly $1400 and spends $100 on gas, food, and entertainment. Sometimes, he never spends the $100
He lives on $100 monthly, eating rice and beans, soups, and ketchup packets. He eats one meal a day and goes to his friends over the weekend for food and entertainment. He never chips in for anything in that group. Sometimes, he steals food from the fridge the house shares, and at work, he takes any food that hasn’t been used for more than two days.
He has about $35000 in cash and cannot bring himself to spend anything. He says frugality is a game to see how much he can have at the end of the month. He realizes his frugality is crippling, but that is all he knows.
Other Reddit users reacted to this post, with many rebuking him for his lifestyle and others offering actionable advice on how he can live a better life. Here are some of the best tips from other Reddit users on what to do when you have a crippling addiction to frugality, as the OP had;
Give Back a Bit
“That’s not good. There’s a line between frugality and selfishness. I recommend you start giving back. Get extra free stuff with your coupons and donate it to a charity like a Soup Kitchen. Put aside 5-10% of your extra money for charity. THEN save the rest. It will make you feel better about yourself, I promise,” advised one user
Force Yourself To Buy Something
Buy something fun for yourself, “Then, force yourself to buy little things for yourself, fun things. Take yourself to the movies (discount movies to make it easier 😀 ). Buy a fun toy you want. Travel. I can PROMISE you that a week after you spend that money, you will no longer think about it. I broke this addiction by spending on travel. The memories I created were so wonderful that I never thought about the money spent.”
You Can Have the Best of Both Worlds
You can be frugal without missing out; as one user points out, “YOu CAN have the best of both worlds. I am still very cheap; for example, I still live with my 6 roomies because I love them. 😀 I still cook all the food at home and manage less than $50 a month on groceries. But I spend, especially when it is necessary. I splurge, and I help others. I travel.”
Your health matters, “Buy healthy food. You can do this in bulk at Costco. This can fit into your frugality.”
Invest Your Money
“Invest some of your money. You have $35k, which is great. You could live, on your expenses, for 6 years with that if you had to. Take a portion of your savings from here out and get it into the stock market on a monthly basis. Also, shop around for a better interest rate on your $35k stash,” advises another user.
Do Not Be the Richest Person in the Cemetery
Be frugal but avoid dying without having lived, “Sounds like you’re safe from debt, but be wary of ending up as the richest person in your local cemetery.”
Budget Your Time and Money Around Some Goals
Spend money on two important goals, “I wonder if you couldn’t just dream up a couple of goals, and budget your time and money for them, then act on them. You know, like a place to travel to, or learning to play an instrument or something. Make it a game.”
Do Not Hoard
Instead of hoarding, consider investing, “The moral of the story: safety comes from investing in yourself, not hoarding money. Sure, it can give you advantages, but unless you’re fantastically wealthy (35K is a pittance in the grand scheme of things), going crazy over it like you are is not worth it,” says another person.
You do not need to spend much when you are in nature, “Do you enjoy hiking, rock climbing, and camping? Invest in yourself, your physical abilities first, your cognitive abilities second. You cannot have a healthy mind without a healthy body. It took me 7 to figure that out.”
12 Frugal Hacks That Make All The Difference
A Reddit user who started the frugal journey with his wife a couple of years ago wanted to know the frugal hacks people had that made all the difference.
According to the OP, shopping grocery sales every week and planning their meals helped cut their bill from $250 to $100 per week. Other users shared their stories about frugal hacks they had that made some difference in their lives. Here are some of the best ones.
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This article was produced and syndicated by A Dime Saved.