Morning Blend on Mater Dei Radio: “When Can You Be Too Frugal?”
Many of us have worked our entire lives to save for the future, but is it possible to save too much?
Being too frugal looks different for many people. It can also be very difficult to see within yourself. Oftentimes, over-frugality can impact your quality of life, and that’s where it crosses a line!
I had a client reach out asking if it was okay to withdraw a small sum of money for a dental procedure. He was having pain in his teeth! Yet, his inclination to save was causing him to second guess if he should spend the money. This is a scenario where you should ALWAYS spend the money if you have it.
I often notice that retirees who have a great saving mentality through working years, struggle greatly with spending in retirement. The transition is hard so it’s important to set a clear plan with yourself. You worked hard your entire life to be able to relax, travel, and other needs.
Maybe you’re like me and have a side mirror hanging off your car (not my fault!). If you have the funds, get it fixed! It’s okay to fix up your car, or replace the ratty old couch you’ve had for 20 years.
It’s not uncommon that I find myself in conversation with clients who are on opposite pages. Without pretending to be a marriage therapist, I can advise you to compromise and meet each other in the middle on this!
Communication is always key.
Listen to the interview
About the Morning Blend on Mater Dei Radio
Mater Dei Radio is a Catholic broadcasting apostolate dedicated bringing souls to Jesus through the Blessed Virgin Mary. We hope your faith will be inspired and deepened through our 24-hour radio broadcast, original shows and podcasts, community calendar, social media, and more!
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