Is there such thing as saving TOO much?

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tman9940
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Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 12:37 pm

I am in a situation where my bills are relatively low. (Single, no kids). I live a pretty basic, simple, and frugal lifestyle. (10 year old reliable car, prepaid cell phone, cut my own hair etc). I am saving roughly 50%+ of my salary, Investing mostly in VTSAX and some liquid savings accounts for a future home purchase . I am under the impression, the more I save now, the quicker I can retire, or work on my terms. (part time would be amazing) I am on the younger side (33)… I get more joy right now out of saving rather than spending. Not sure if many people are in the same boat as me, but I am curious as to if there is such thing as saving TOO much...

LarryAllen
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Re: Is there such thing as saving TOO much?

Post by LarryAllen » Mon Sep 17, 2018 12:40 pm

At your age there is no such thing as saving too much as long as you are happy with your choices and it sounds like you are. Life is long and stuff happens that you don't expect so keep saving! Keep over-saving in fact! The more you do the sooner you can retire or work less. Keep up the good work.

PFInterest
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Re: Is there such thing as saving TOO much?

Post by PFInterest » Mon Sep 17, 2018 12:43 pm

tman9940 wrote:
Mon Sep 17, 2018 12:37 pm
I am in a situation where my bills are relatively low. (Single, no kids). I live a pretty basic, simple, and frugal lifestyle. (10 year old reliable car, prepaid cell phone, cut my own hair etc). I am saving roughly 50%+ of my salary, Investing mostly in VTSAX and some liquid savings accounts for a future home purchase . I am under the impression, the more I save now, the quicker I can retire, or work on my terms. (part time would be amazing) I am on the younger side (33)… I get more joy right now out of saving rather than spending. Not sure if many people are in the same boat as me, but I am curious as to if there is such thing as saving TOO much...
you dont give us any numbers (total savings, total spending) to tell you otherwise.
but at 33....probably not yet.

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Re: Is there such thing as saving TOO much?

Post by bloom2708 » Mon Sep 17, 2018 12:44 pm

You are doing just fine. "Save" some "blow money" and find things that give you joy.

Getting married, having kids, buying a house, moving for jobs, selling a house, buying a bigger house. Those are life events that might be ahead. You will appreciate your savings rate when there are more things nipping at your salary.

Many winding paths ahead.
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student
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Re: Is there such thing as saving TOO much?

Post by student » Mon Sep 17, 2018 12:46 pm

As others have noted, we need some numbers. In general, I would say save as much as possible but don't ``torture'' yourself. There are things that are more enjoyable to do as a younger person.

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Re: Is there such thing as saving TOO much?

Post by GoldenFinch » Mon Sep 17, 2018 12:47 pm

In my opinion (since you asked :happy) there is no such thing as saving too much, but there is such a thing as spending too much.

Don’t over spend and you’ll be alright.

Atgard
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Re: Is there such thing as saving TOO much?

Post by Atgard » Mon Sep 17, 2018 12:47 pm

I guess it's theoretically possible to save TOO much, like if you neglect your own health (or those of your kids, if you had any) or live a miserable existence (more miserable vs. having to work an extra couple of years to live in comfort, anyway).

But, since you said "I get more joy right now out of saving rather than spending," it sounds like you are making the right choice and are on the right track. Especially while you're young, single, with no kids, and have the health and energy to work & save a bunch of money, you may as well do it while you can. Good luck!

(P.S.: The key is to only spend money on stuff that YOU truly want or need, not what advertisements or the neighbors want you to. If you're happy with your car, phone, haircut, etc., that's all that really matters. Don't feel "weird" because you're not conforming to what we see on TV. You've found a forum with plenty of millionaires who drive old cars & shop at Costco.)

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Re: Is there such thing as saving TOO much?

Post by sailaway » Mon Sep 17, 2018 12:49 pm

The only way to save too much is to be miserable or risking your health by your choices.

tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 12:53 pm

student wrote:
Mon Sep 17, 2018 12:46 pm
As others have noted, we need some numbers. In general, I would say save as much as possible but don't ``torture'' yourself. There are things that are more enjoyable to do as a younger person.

So Far this year, I've saved roughly 26k...and I've made about 38k...


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Re: Is there such thing as saving TOO much?

Post by magicrat » Mon Sep 17, 2018 12:56 pm

You can probably afford haircuts.

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Re: Is there such thing as saving TOO much?

Post by RadAudit » Mon Sep 17, 2018 12:56 pm

tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
student wrote:
Mon Sep 17, 2018 12:46 pm
As others have noted, we need some numbers. In general, I would say save as much as possible but don't ``torture'' yourself. There are things that are more enjoyable to do as a younger person.

So Far this year, I've saved roughly 26k...and I've made about 38k...
You need to start writing a blog as a side hustle. :happy Might improve cash flow.
FI is the best revenge. LBYM. Invest the rest. Stay the course. - PS: The Calvary isn't coming, kids. You are on your own.

tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 12:57 pm

magicrat wrote:
Mon Sep 17, 2018 12:56 pm
You can probably afford haircuts.
HAHA! Actually..the hair is thinning...so I just shave my head! No need to go to a barber if he is just going to do the same thing I can do in 10 minutes!

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Re: Is there such thing as saving TOO much?

Post by magicrat » Mon Sep 17, 2018 12:58 pm

tman9940 wrote:
Mon Sep 17, 2018 12:57 pm
magicrat wrote:
Mon Sep 17, 2018 12:56 pm
You can probably afford haircuts.
HAHA! Actually..the hair is thinning...so I just shave my head! No need to go to a barber if he is just going to do the same thing I can do in 10 minutes!
Fair enough!

student
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Re: Is there such thing as saving TOO much?

Post by student » Mon Sep 17, 2018 12:59 pm

tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
student wrote:
Mon Sep 17, 2018 12:46 pm
As others have noted, we need some numbers. In general, I would say save as much as possible but don't ``torture'' yourself. There are things that are more enjoyable to do as a younger person.

So Far this year, I've saved roughly 26k...and I've made about 38k...
Wow. This is impressive. It is ok if you enjoy yourself in material things every now and then, if you want.

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Re: Is there such thing as saving TOO much?

Post by daveydoo » Mon Sep 17, 2018 1:01 pm

bloom2708 wrote:
Mon Sep 17, 2018 12:44 pm
You are doing just fine. "Save" some "blow money" and find things that give you joy.

Getting married, having kids, buying a house, moving for jobs, selling a house, buying a bigger house. Those are life events that might be ahead. You will appreciate your savings rate when there are more things nipping at your salary.
+1. Couldn't have said it better.
"I mean, it's one banana, Michael...what could it cost? Ten dollars?"

tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 1:03 pm

Never heard of this woman...but wow! I am no where near that crazy/cheap. That is crazy! She became rich, but was miserable. There definitely has to be a good balance to achieve wealth and happiness. I would never put my health at risk in order to save money. You can't put a price tag on your health!

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Re: Is there such thing as saving TOO much?

Post by Dottie57 » Mon Sep 17, 2018 1:05 pm

A Financial Advisor once told me she thought I might be saving too much and that I should makesure to spend on yourself.

Do set savings goals, but don’t worry about every penny. If no debts, feel free to go out with friends, search for a hobbyyou enjoy, vacations every once in a while.

tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 1:12 pm

For the record, I do spend money on things I enjoy. I usually take 1-2 trips per year. Usually to the western US..I live with my father. I pay him rent, but not as much as it would be if I were renting an apartment. I enjoy living with him and helping him with things around the house, and he enjoys having me here--so it works. I paid my car off within a year after getting it, and I enjoy it (07 Toyota corolla, 78k miles), and paid my student loans off as soon as I got my first full time job out of college. I go to concerts with friends, sometimes go to the bar, play fantasy football, and spend money on other things I enjoy. For the most part, I've stopped going to sporting events. As I've gotten older, most athletes (not all) make me sick with their self centered attitudes and the insane money they make to play a game, so I've chosen not to support them with my money, although I do still watch sports. Didn't mean to come across that I save every nickel I earn. Thanks all for the conversation! :sharebeer :sharebeer

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Re: Is there such thing as saving TOO much?

Post by flamesabers » Mon Sep 17, 2018 1:33 pm

tman9940 wrote:
Mon Sep 17, 2018 12:37 pm
Not sure if many people are in the same boat as me, but I am curious as to if there is such thing as saving TOO much...
I would define excessive saving when it gets to the point that it makes you miserable or you otherwise start to obsess about every little thing you're spending your money on. If you're happy with your life and you don't feel guilt-ridden everytime you spend money, I don't think saving too much is a problem for you.

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Re: Is there such thing as saving TOO much?

Post by 123 » Mon Sep 17, 2018 2:04 pm

Before I met my spouse and bought a house I think I was saving too much as well. I had no debts, paid cash for cars and vacations, and the most of the checks I wrote (pre-internet) were to different mutual funds (before I consolidated at a brokerage).

After I met my spouse things sort of changed. A couple has different expectations than a single individual. We bought a house. We had other expenses. We still save but it's not as much, or as directly obvious, as when I was single.

Save while you can, you will not regret it. Life has a way of changing things on you.
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Re: Is there such thing as saving TOO much?

Post by Tourne » Mon Sep 17, 2018 2:20 pm

I’m glad that you included travel on the list of things on which you’re spending your money. There are a lot of trips (out West) that you can take now while you are young and have the energy, which you might not be able to take or will have to put off when family responsibilities start to encroach. I’ve seen a lot of very wealthy people on this board say that the lesson they’ve learned over time is to spend money on experiences, not things. It sounds like you’ve made a great start.
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tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 2:25 pm

Tourne wrote:
Mon Sep 17, 2018 2:20 pm
I’m glad that you included travel on the list of things on which you’re spending your money. There are a lot of trips (out West) that you can take now while you are young and have the energy, which you might not be able to take or will have to put off when family responsibilities start to encroach. I’ve seen a lot of very wealthy people on this board say that the lesson they’ve learned over time is to spend money on experiences, not things. It sounds like you’ve made a great start.
Absolutely. I am an avid hiker--but don't have many places to do that in my area. The west has endless opportunities for that. Like you said, experience those things now while I am able. I 100% agree on experiences over material things!

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Re: Is there such thing as saving TOO much?

Post by LiterallyIronic » Mon Sep 17, 2018 2:32 pm

tman9940 wrote:
Mon Sep 17, 2018 12:37 pm
but I am curious as to if there is such thing as saving TOO much...
Well, yeah, but the problem is that you only know after-the-fact. If you save half your income and then get hit by a bus on your way home from work the day before you were going to retire, then you saved too much - you could've saved nothing and filled you life with goods and services that you wanted instead of putting off for a tomorrow that never came. Or you could live to be 102 and glad you saved the money when you were working.

There's just no way to know.

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Re: Is there such thing as saving TOO much?

Post by LiterallyIronic » Mon Sep 17, 2018 2:36 pm

tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
So Far this year, I've saved roughly 26k...and I've made about 38k...
How? I would've expected taxes to cut that $38k to $30k. You've lived nearly nine months on $4k?

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Tourne
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Re: Is there such thing as saving TOO much?

Post by Tourne » Mon Sep 17, 2018 2:43 pm

tman9940 wrote:
Mon Sep 17, 2018 2:25 pm
Tourne wrote:
Mon Sep 17, 2018 2:20 pm
I’m glad that you included travel on the list of things on which you’re spending your money. There are a lot of trips (out West) that you can take now while you are young and have the energy, which you might not be able to take or will have to put off when family responsibilities start to encroach. I’ve seen a lot of very wealthy people on this board say that the lesson they’ve learned over time is to spend money on experiences, not things. It sounds like you’ve made a great start.
Absolutely. I am an avid hiker--but don't have many places to do that in my area. The west has endless opportunities for that. Like you said, experience those things now while I am able. I 100% agree on experiences over material things!
I can tell you from personal experience that hiking the Canadian Rockies at 40 is a heck of a lot harder than it was at 26, but just as beautiful (maybe more so)!

If you haven’t seen it yet, this thread also had some really interesting travel ideas that I found useful.
viewtopic.php?f=11&t=101818
Plans are nothing; planning is everything - Dwight D. Eisenhower

tman9940
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Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 3:10 pm

LiterallyIronic wrote:
Mon Sep 17, 2018 2:36 pm
tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
So Far this year, I've saved roughly 26k...and I've made about 38k...
How? I would've expected taxes to cut that $38k to $30k. You've lived nearly nine months on $4k?
As I said, My bills are low! Like, almost non existent. I invest/save about 2k month.

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Re: Is there such thing as saving TOO much?

Post by PFInterest » Mon Sep 17, 2018 3:14 pm

LiterallyIronic wrote:
Mon Sep 17, 2018 2:36 pm
tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
So Far this year, I've saved roughly 26k...and I've made about 38k...
How? I would've expected taxes to cut that $38k to $30k. You've lived nearly nine months on $4k?
yea something is off about that.
do you live at home OP?

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Re: Is there such thing as saving TOO much?

Post by Utvolfan1 » Mon Sep 17, 2018 3:21 pm

“Darkness is cheap, and Scrooge liked it.”

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Re: Is there such thing as saving TOO much?

Post by Grt2bOutdoors » Mon Sep 17, 2018 3:25 pm

tman9940 wrote:
Mon Sep 17, 2018 1:12 pm
For the record, I do spend money on things I enjoy. I usually take 1-2 trips per year. Usually to the western US..I live with my father. I pay him rent, but not as much as it would be if I were renting an apartment. I enjoy living with him and helping him with things around the house, and he enjoys having me here--so it works. I paid my car off within a year after getting it, and I enjoy it (07 Toyota corolla, 78k miles), and paid my student loans off as soon as I got my first full time job out of college. I go to concerts with friends, sometimes go to the bar, play fantasy football, and spend money on other things I enjoy. For the most part, I've stopped going to sporting events. As I've gotten older, most athletes (not all) make me sick with their self centered attitudes and the insane money they make to play a game, so I've chosen not to support them with my money, although I do still watch sports. Didn't mean to come across that I save every nickel I earn. Thanks all for the conversation! :sharebeer :sharebeer
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Re: Is there such thing as saving TOO much?

Post by VictoriaF » Mon Sep 17, 2018 3:27 pm

There is not such a thing as saving too much.
There is such a thing as spending too little.

If you need $60k to live a healthy balance life and you earn $100k, you save $40k(*). If you earn $200k, you save $140k. If you earn $600k, you save $540k. None of these savings are too much.

(*) I am making a general point and, for simplicity, ignoring taxes.
.
.

If you need $60k to live a healthy balance life, earn $100k and save $50k, then you deprive yourself of $10k of healthy or balance-related expenses. If you earn $100k and save $60k, then you deprive yourself from $20k of healthy of balance-related expenses. In these cases, the problem is not that you spend too much but that you shortchange your life.

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Re: Is there such thing as saving TOO much?

Post by marcopolo » Mon Sep 17, 2018 4:13 pm

LiterallyIronic wrote:
Mon Sep 17, 2018 2:36 pm
tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
So Far this year, I've saved roughly 26k...and I've made about 38k...
How? I would've expected taxes to cut that $38k to $30k. You've lived nearly nine months on $4k?
LiterallyIronic,
You are not used to being on this side of this particular type of conversation, are you? It seems it is usually someone else questioning how you can live on so little. Just goes to show no matter how rich/poor/smart/dumb you think you are, there is always someone richer/poorer/smarter/dumber...

tman9940,
As long as you do not feel like you are depriving your current self of a lifestyle you want to live, then i don't think you can save too much. Your later self will thank you.

Best of luck to both of you :sharebeer
Once in a while you get shown the light, in the strangest of places if you look at it right.

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Re: Is there such thing as saving TOO much?

Post by mortfree » Mon Sep 17, 2018 4:19 pm

Save as much as you can now.

If your life changes where you have real expenses your salary may not allow you to save a decent amount.

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Re: Is there such thing as saving TOO much?

Post by chevca » Mon Sep 17, 2018 4:30 pm

PFInterest wrote:
Mon Sep 17, 2018 3:14 pm
LiterallyIronic wrote:
Mon Sep 17, 2018 2:36 pm
tman9940 wrote:
Mon Sep 17, 2018 12:53 pm
So Far this year, I've saved roughly 26k...and I've made about 38k...
How? I would've expected taxes to cut that $38k to $30k. You've lived nearly nine months on $4k?
yea something is off about that.
do you live at home OP?
Some should read the whole thread. The answers they seek are in there. :happy

OP, I agree with other that say, as long as you're not miserable or unhealthy about it, you're not saving too much. Sounds like you're doing great with saving and being happy.

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Re: Is there such thing as saving TOO much?

Post by lws » Mon Sep 17, 2018 4:35 pm

It is okay to over save if your needs are met and if your wants are small.
If you do not need the funds later you can use it to help others.

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Re: Is there such thing as saving TOO much?

Post by Thesaints » Mon Sep 17, 2018 4:35 pm

Saving too much is just another name for spending too little.

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Re: Is there such thing as saving TOO much?

Post by KlangFool » Mon Sep 17, 2018 4:38 pm

OP,

My rule is very simple. I save one year of my current annual expense every year. I do not save more or spend more. I intend to keep a balance between saving and spending.

KlangFool

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Re: Is there such thing as saving TOO much?

Post by Dandy » Mon Sep 17, 2018 4:51 pm

Yes. You can get caught up in saving as a goal in itself as opposed to a means to an end. The main pleasure in life becomes watching your asset number grow higher. The term for that in the extreme is miser. Life balance is important at every age. Make sure you are also spending some time and money enjoying life. It is doubtful that a person with your strong savings ethics will get into bad spending habits.

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Re: Is there such thing as saving TOO much?

Post by tesuzuki2002 » Mon Sep 17, 2018 5:01 pm

magicrat wrote:
Mon Sep 17, 2018 12:56 pm
You can probably afford haircuts.
Can afford .... yes most certainly... but when you keep a simple cut... why pay someone $25 to cut it... I have a pair of trimmers I bought over a decade ago for $29... I've cut my hair for many many years.. plus it's just easier... than making an apt and going there... I do it in my back yard..

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Re: Is there such thing as saving TOO much?

Post by KlangFool » Mon Sep 17, 2018 5:16 pm

Dandy wrote:
Mon Sep 17, 2018 4:51 pm
Yes. You can get caught up in saving as a goal in itself as opposed to a means to an end. The main pleasure in life becomes watching your asset number grow higher. The term for that in the extreme is miser. Life balance is important at every age. Make sure you are also spending some time and money enjoying life. It is doubtful that a person with your strong savings ethics will get into bad spending habits.
Dandy,

It is too early to tell. All it takes is just one house. That's what happened to most of my peers. They are frugal on everything else except the house. And, the rest won't matter a bit.

KlangFool

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Re: Is there such thing as saving TOO much?

Post by flyingaway » Mon Sep 17, 2018 5:18 pm

tman9940 wrote:
Mon Sep 17, 2018 12:57 pm
magicrat wrote:
Mon Sep 17, 2018 12:56 pm
You can probably afford haircuts.
HAHA! Actually..the hair is thinning...so I just shave my head! No need to go to a barber if he is just going to do the same thing I can do in 10 minutes!
I have never had my hair cut in a barber in the U.S. in the past 25 years, my wife cut it for me. I did go to barber shops for my hair-cut when I traveled outside of the U.S.

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Re: Is there such thing as saving TOO much?

Post by aspirit » Mon Sep 17, 2018 5:22 pm

No, there is no position of your saving to much now if your currently saving for living quarters.
Do you really think your saving to much w/unknown inflation & 'personal' medical costs risks, etc...all rising going forward!

I question your cognitive abilities not recognizing this. I've cut my own hair since i was taught by naval services barber from the 50s era.(Korean war vet).
I suspect this current long time friend saved me 20k over about 50yrs.

Do you want to buy a home & get married, have offspring, all conventional American media's dreams?
(lol. :P I razz.)
There goes all your money!

There is no circumstance such as saving to much.(imho)

Good luck!
Last edited by aspirit on Mon Sep 17, 2018 5:53 pm, edited 1 time in total.
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Re: Is there such thing as saving TOO much?

Post by Thesaints » Mon Sep 17, 2018 5:30 pm

It is questionable whether it would be preferable to venture into the great beyond leaving on this side too much money, or too little...

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Re: Is there such thing as saving TOO much?

Post by Fallible » Mon Sep 17, 2018 6:00 pm

Yes, there is such a thing as saving too much - if you don't need to save that much and if it's making you unhappy. You seem to be happy, although it's interesting that you asked the question.
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Re: Is there such thing as saving TOO much?

Post by corn18 » Mon Sep 17, 2018 6:22 pm

tman9940 wrote:
Mon Sep 17, 2018 1:12 pm
For the record, I do spend money on things I enjoy. I usually take 1-2 trips per year. Usually to the western US..I live with my father. I pay him rent, but not as much as it would be if I were renting an apartment. I enjoy living with him and helping him with things around the house, and he enjoys having me here--so it works. I paid my car off within a year after getting it, and I enjoy it (07 Toyota corolla, 78k miles), and paid my student loans off as soon as I got my first full time job out of college. I go to concerts with friends, sometimes go to the bar, play fantasy football, and spend money on other things I enjoy. For the most part, I've stopped going to sporting events. As I've gotten older, most athletes (not all) make me sick with their self centered attitudes and the insane money they make to play a game, so I've chosen not to support them with my money, although I do still watch sports. Didn't mean to come across that I save every nickel I earn. Thanks all for the conversation! :sharebeer :sharebeer
Gotta say, that sounds like a very wonderful life! Keep doing what you're doing, you're doing great.

EGARCH
Posts: 27
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Re: Is there such thing as saving TOO much?

Post by EGARCH » Mon Sep 17, 2018 7:16 pm

I read the first few posts and all seem to suggest *there is NO such thing as too much savings.* I beg to differ.

If OP has a stable job, likes his/her job enough that s/he will be employed for a longer period of time, and has no or minimal bequest motive, then 50% savings rate will lead to excess cash that s/he will have no time to consume it all before s/he checks out. This is just math.

Now, like others said, if the assumptions I listed above don't hold, then you should keep doing what you are doing.

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linenfort
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Re: Is there such thing as saving TOO much?

Post by linenfort » Mon Sep 17, 2018 7:27 pm

Beat me to it. :beer
Grt2bOutdoors wrote:
Mon Sep 17, 2018 3:25 pm
Do not become Duck McScrooge!
Scrooge McDuck
Last edited by linenfort on Mon Sep 17, 2018 7:47 pm, edited 1 time in total.
bogleheads, don't knock state lotteries. They helped defund the mafia.

LiterallyIronic
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Re: Is there such thing as saving TOO much?

Post by LiterallyIronic » Mon Sep 17, 2018 7:43 pm

marcopolo wrote:
Mon Sep 17, 2018 4:13 pm
LiterallyIronic,
You are not used to being on this side of this particular type of conversation, are you? It seems it is usually someone else questioning how you can live on so little. Just goes to show no matter how rich/poor/smart/dumb you think you are, there is always someone richer/poorer/smarter/dumber...
Making it personal, huh? :D

It's not an apples to oranges comparison. I'm supporting a wife and toddler, while paying a mortgage, instead of living on subsidized rent with my parents (not that that's necessarily bad. If all parties are fine with it, great). I think I'm possibly more of a cheapskate, though. Sure, I don't cut my own hair (which would be difficult with a full head of shoulder-length hair) - I pay a student at the local hair school $8 every six months and don't leave a tip. Just last week I drove to a car dealership because they were having a promotion in which, if you let them appraise your car, they'd give you five dollars and two movie tickets. For the record, my car appraised at $112.

I would like to hear more about how OP does utilities and transportation, though, as those are a couple of heavy hitters in my budget that are difficult to minimize. But frugality is probably for another thread (or another forum 8-) ).

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Toons
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Re: Is there such thing as saving TOO much?

Post by Toons » Mon Sep 17, 2018 8:25 pm

If you are
"Content"
Don't change a thing.
If you don't want to spend some of your money,
Consider a charity of your choice
:happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

tman9940
Posts: 105
Joined: Tue Aug 11, 2015 11:44 pm

Re: Is there such thing as saving TOO much?

Post by tman9940 » Mon Sep 17, 2018 8:50 pm

LiterallyIronic wrote:
Mon Sep 17, 2018 7:43 pm
marcopolo wrote:
Mon Sep 17, 2018 4:13 pm
LiterallyIronic,
You are not used to being on this side of this particular type of conversation, are you? It seems it is usually someone else questioning how you can live on so little. Just goes to show no matter how rich/poor/smart/dumb you think you are, there is always someone richer/poorer/smarter/dumber...
Making it personal, huh? :D

It's not an apples to oranges comparison. I'm supporting a wife and toddler, while paying a mortgage, instead of living on subsidized rent with my parents (not that that's necessarily bad. If all parties are fine with it, great). I think I'm possibly more of a cheapskate, though. Sure, I don't cut my own hair (which would be difficult with a full head of shoulder-length hair) - I pay a student at the local hair school $8 every six months and don't leave a tip. Just last week I drove to a car dealership because they were having a promotion in which, if you let them appraise your car, they'd give you five dollars and two movie tickets. For the record, my car appraised at $112.

I would like to hear more about how OP does utilities and transportation, though, as those are a couple of heavy hitters in my budget that are difficult to minimize. But frugality is probably for another thread (or another forum 8-) ).
Wow...thanks all for the replies! I didn't realize cutting my own hair was so controversial, HAHA!... I shave my head..no big deal. Just don't see the point of paying someone to do something I can do myself. I don't avoid the barber to save 15 bucks..

Transportation--I have a car. This may be my biggest expense...which is still relatively cheap (Small car--paid for--good gas mileage--900$/yr insurance) Utilities are included with my rent to my Dad. Like I said, I am in a situation that I'm sure a lot of people my age are not in. So I am taking advantage of it and comfortably saving and investing what I can. This situation will not last forever, so I am enjoying it while I can. My hope is to retire early and be able to travel. I plan to eventually buy a modest house, with a big down payment. If a woman and/or kids come down the road in life, hopefully I will have enough money saved to take care of those things. Overall, I am not "Scrooge McDuck" as some have assumed. I 100% enjoy the way I live..but I enjoy saving as well. Thanks again to everyone for the replies and great conversation! :sharebeer

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