While there’s nothing wrong with being frugal and saving money, there is such a thing as too much of a good thing. When you’re crafting your budget and shopping deals and saving money, keep one thing in mind. You still need to live and have fun! If you focus too intently on frugal living and not enough on just living, you can burn yourself out.
When you get burned out, it’s suddenly very difficult to be frugal. People who get tired of saving and living meagerly often break bad, spending a lot of the money they saved and setting themselves back to square one. Don’t let this happen to you. Here are our tips for saving money without burning out.
Having a hobby that you put your extra spending money into is a good thing. Some people think they need to cut all the fun out of their lives in order to save. Don’t do this, as it will just make you miserable.
Find your thing, whether that be collecting comic books, playing video games, or painting. Whatever it is, just make it something you genuinely enjoy.
Then, allow yourself some portion of your income to be devoted to your thing. Maybe there’s a local community of like-minded enthusiasts you could join! Whatever you do, just make sure you’ve got something fun to focus on with your spending money.
There’s a difference between being frugal and living in squalor. Just because you’re trying to save money doesn’t mean you should buy cheap quality goods.
When you need a new pair of shoes, save up and buy a good pair. Don’t just buy some threadbare shoes that are going to fall apart in three months.
You’ll end up spending more replacing them than if you’d just bought the shoes that will last for five years.
When you’re saving, don’t just save because you can. Save with a goal in mind! Maybe you’re trying to afford a dream vacation to some exotic locale. Or, maybe you’re saving to buy a new house or a nice new car. You could just be saving for retirement! Whatever it is, have a defined goal.
Formless, unfocused saving can often lead to burn out. If you don’t know what your savings account is for, it’s tempting to just blow the money. But, when you see that money as “the dream vacation to Japan,” it gets way harder to justify spending it all on jelly beans, or whatever it is you’re eyeballing!