6 Signs You’re Being Too Cheap

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6 Signs You’re Being Too Cheap

Now I love being frugal as I approach life.   I like to budget, I like to save and I like to invest when we can.   Sometimes I even can take it too far and get caught up in saving money to the detriment of me and other things in my life.   This is when you start to move from being frugal to just being cheap about it.

You will see that having a balance in life of saving maxed well with still having fun in life is the best approach and what I will showcase to you in the 6 signs of when you know your not being frugal, your just being plain old cheap about it.

Here are my 6 tips.

Never Spending the Fun Money

Every year about this time of the year, we start researching where we are going to take our big vacation of the year.   We research areas of the world, means of transportation and what we are going to do when we get there.  I mean we did spend all year saving for this grand event, we might as well live it up and celebrate all that hard work.

None the less, I still have some guilt hanging over my head knowing that I did spend all that time saving and to spend it all in a week or so doesn’t sound too frugal does it?  Well here is the thing that I have to correct myself on every time.   We collectively made a decision in our budget to save the money specifically for spending the money on something fun.

As long as you have all your other budgetary items covered, including investing for your retirement, then give yourself the permission to use the money to enjoy life a little bit.

You Never Get Rid of Anything and Your House is Cluttered

When you are being too cheap, you tend to hold on to things even if you no longer have any use for the item.   This leads to a cluttered home and a cluttered home is a stressful home in my opinion.

If you decide to the give the item away, you may feel as if you lost the frugal battle.   You think, perhaps I could have earned a few dollars from that item I gave away.   Then, you spend timing attempting the sell the item which may not end in success and the item finds its way back to the basement or attic.

I believe living a minimal and clutter free life has many benefits in life.  It provides a clear mind to focus in on the important things.  You don’t have to worry about all this clutter and what to do with these things because you don’t have them to worry about.    You also don’t have to constantly clean all this stuff because you don’t have it.

Bottom line, if you are holding on to things for no purpose other than you have a hard time with parting with things, consider challenging yourself to the 1 Year Test as I call it.   If you haven’t used the item in a year, changes are you don’t need it.   Get rid of it!

Your Health is Suffering

What good is money in the bank if you are not going to be around to enjoy it!    It’s not healthy to skip meals because you could save $5.   It’s not healthy to eat Ramen Noodles every night because they are cheap.   Your health will suffer, you will not feel as good to face the world as you could be, and it could have a long term affect on your ability to live a long life.

No money can take the place of living a healthy life.   Your health is the #1 priority so don’t get too cheap to where you end up shooting yourself in the foot.   A healthy person has a much better chance of making it in this world than an unhealthy person.   Don’t forget this as you make it through your budget planning.

Your Lonely

Your sitting on a major stack of cash in the bank and you are way far ahead on your budget plan, yet you find yourself sitting at home alone completely lonely most of the time.   What gives?  I thought saving money and becoming financially independent would bring me happiness.

You forgot one important point.   Money does not bring happiness by itself.     You have to seek out your happiness and if that means spending time with others, then you need to seek that out.   If that means dating people to find that special someone, then you are going to have to get yourself out of the house and make that happen.

In the process, you may have to spend some money to do it.   That’s why you saved some of this money, was so you could go out with a friend for a cup of coffee at Starbucks if you desired.   Or, if you wanted to find that special someone to take out to dinner on occasion.

Don’t be too cheap and not allow yourself to also enjoy life or feel like if you leave your house, you will feel guilty spending money.   You might not be frugal, you might actually be cheap.  Don’t be cheap!

Your Miserable

If you have money saved but still feel miserable, this is a tell tale sign you are being too cheap.   As we spoke, not giving your body the proper healthy nutrients and not giving you body the proper social outlets alone could be reason you are feeling miserable.

As I have mentioned in this post many times, you need to let yourself have a little fun in life.   You can’t take the money with you so make sure you spend a little time doing something that makes you happy.   Even if that means splurging on a Cafe Latte at Starbucks.   If that will remove you from the state of being miserable, then just do it.   I give you that permission.

Your Spinning Your Wheels

Being frugal does not give you the permission to be inefficient.  For example, if you spend 4 hours a week clipping and organizing coupons, but when you go to the store you end up only saving $20 per week in groceries.   Is $5 an hour clipping all those coupons worth your time?   Maybe it is, but you have to ask yourself could I be spending that time each Saturday morning working on something else that brings you in more money and perhaps makes you happier?

For example, you could start a blog.   Or you could go get a waiter/waitress job working Saturday mornings and make $20 – 30 an hour.

You may think that maybe if I just stay at home and watch TV all the time, that this is going to get yourself ahead.   Well I’m not spending money right?   Think about opportunities where you could use your free time to start a side hustle or pick up some side work.

What are some ways that you find where you are being too cheap?    Your turn!

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