Even Being Frugal Can Be Dangerous, Is That True?

[Suba]

When it comes to finances, everyone has different lifestyles and perspectives. These attitudes stem from their family or upbringing, such as how they manage money, their financial situation, etc. However, the question often arises: can saving and refraining from spending be the primary solution to financial and psychological problems? The answer is "not necessarily."

According to financial psychology expert Preston D. Cherry in Wisconsin, however a person thinks and acts financially, it is related to the past, present, and future. Cherry also said that psychologically, the term "shopping" or "spending money" is better than "budgeting." The word "shopping" conveys the impression of freedom and flexibility in using money. The word "budgeting" tends to suggest restraint and frugal living. However, if done without a purpose, it can increase psychological stress, ultimately leading to revenge spending, or excessive spending as compensation for desires that are constantly restricted by frugality.

 

[eLdavis]

Yes it can also be dangerous, i have seen people who have missed out on great opportunities simply because they where being frugal.

 

[Augusta]

Being too frugal can lead to several potential dangers, including: Neglecting Health: Extreme frugality might lead individuals to cut corners on health-related expenses, such as medical care, healthy food, or exercise

 

[Springtime]

Yes, being too frugal will affect our mental well being. We need to uplift ourselves once in a while by giving a nice treat to ourselves.

 

[freelancermaria]

Excessive frugality can be harmful or even dangerous. For example, sacrificing quality for health-related needs can pose serious risks.

 

[Starmix]

It's crucial to live in frugality successively. It could affect your well - being. A human needs to balance everything especially the basic needs, but for food, it's essential to supply the body with the right food that could boost longevity.

 

[aninditasen]

When it comes to finances, everyone has different lifestyles and perspectives. These attitudes stem from their family or upbringing, such as how they manage money, their financial situation, etc. However, the question often arises: can saving and refraining from spending be the primary solution to financial and psychological problems? The answer is "not necessarily."

According to financial psychology expert Preston D. Cherry in Wisconsin, however a person thinks and acts financially, it is related to the past, present, and future. Cherry also said that psychologically, the term "shopping" or "spending money" is better than "budgeting." The word "shopping" conveys the impression of freedom and flexibility in using money. The word "budgeting" tends to suggest restraint and frugal living. However, if done without a purpose, it can increase psychological stress, ultimately leading to revenge spending, or excessive spending as compensation for desires that are constantly restricted by frugality.

Saving is good but not being frugal. It will affect the health in the long run.

 

[Suba]

Saving is good but not being frugal. It will affect the health in the long run.

Cherry's point, in the article/thread above, is that frugality is achieved without a goal. In my opinion, saving and living frugally without a goal will be self-torture and cause stress, as we need motivation and a purpose.

 

[Trush Jodie]

I have never been a proponent of frugality all in the name of saving money. I am more aligned to optimal spending of money.

 

[Augusta]

Frugal living is a smart choice. However, like all things, frugality can be taken to the extreme. Some of your habits might be dangerous,

 

[aninditasen]

Cherry's point, in the article/thread above, is that frugality is achieved without a goal. In my opinion, saving and living frugally without a goal will be self-torture and cause stress, as we need motivation and a purpose.

There's a extent to frugality. We can't go beyond a point even with a goal.