Some personal finance bloggers absolutely love frugality tips, while others brush them off as pointless because they don’t see the need for aggressively saving every penny. I fall somewhere in between. I try to save money whenever it is reasonable and feasible, but I will never make my own laundry detergent or cut my own hair. I can also spend money foolishly at times but I will always think through major purchases with fine detail.
Where am I going with this? The other day in conversation someone asked me about my diet and eating habits. I admitted to this person that I try to eat well but that I eat enough sugar/junk food to not make life completely miserable. What I mean is that I eat well but sneaking in a coffee or chocolate bar every day or so is good for the soul and could prevent you from going insane.
I want to tie this in with frugality because I feel that there is only so much cutting back on spending you could do before the quality of your life will start to rapidly deteriorate. Ya ya I know money doesn’t buy happiness but nothing is free in life either.
I have seen all of the calculations and I know how much money I can save by not drinking a cup of coffee in the morning but guess what? I love my cup of coffee in the morning and this is where I draw the line on frugality tips. You can save a fortune by riding your bike to work & back, while eating the lowest costing food and never leaving your home but what kind of a life will you have?
I understand the importance of frugality tips and saving money strategies but we sometimes get too caught up in debating minutiae that we lose track of the “bigger picture” when it comes personal finance. The bigger picture for 20 somethings is that career growth, productivity, retirement planning, mortgages, etc. are far more deserving of our time than tips on how to save a few dollars on something that brings joy to our lives.
It’s important that college students and entry level graduates learn how to live on a budget but there must be a line you draw when it comes to frugality tips. It’s perfectly fine if you try to save money on food and going out but don’t show up to an interview dressed in borderline acceptable clothing just because it saves you a few bucks.
The take home point for the day is that I urge you guys to practice frugality tips only to the point where you can save money on unnecessary purchases while still maintaining a high quality of life. What’s the point of saving money if you’re going to be miserable all the time?
photo: chad_k
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I absolutely agree with you, but to answer your final question: Because I’d rather be miserable saving money than be miserable buried under this mountain of debt.
I live a whole 6 blocks away from work, and I still don’t ride my bike there. Half a mile. Yeesh. Far too far.
I agree with you and think sometimes people take being frugal to extremes. Like you mention you enjoy coffee, don’t stop it. Maybe you would get DD instead of Starbucks to save and still get good coffee, but you shouldn’t let being frugal change your entire life. For example, I love watching movies. I used to buy a lot more DVD’s but I wanted to cut back. So I don’t buy now, but instead have Netflix. Costs money, but saving a little and still enjoy my movies.
Wholeheartedly in agreement over here.
I love my chocolate, my occasional drinks out, meals out.. and being able to buy something that I’ve been looking for at the back of my mind for months
very well said.
I started my budget 4 months ago and its been an interesting experience. I have managed to keep out of debt, built a nice savings but struggled for a month when I suddenly took up improving my health.
I forced myself to completely cut off my savings for those 6 weeks and I don’t actually regret it because my health did improve.
In general, there is only so much you can cut out without hating yourself, your life and being depressed.
There are days I just gotta have my icecapp or go to wendys and grab a combo or best yet, go out for lunch on weekends with my buddy to an asian place.
re: bike–i don’t think that you really save that much money riding it to work. a good bike will set you back a lot (maybe as much as a beat-up used car), and taking care of it is really almost as expensive as very basic maintenance on your car, unless you have the time to learn how to fix it.
that being said, i ride my bike to work because it DOES keep me sane. so to each their own.