While we are encouraging you to manage your budget by making reasonable financial decisions, reasonable does not mean saving all the time to some bizarre extent. There are enough of situations when saving is not recommended and there are many people who unfortunately cannot stop saving even though it can only harm them.
Here are some of the typical ways in which such people rae behaving.
You are spending money only on your primary physical needs
Primary physical needs in this case means you might even not spend money on your health in the case of emergency such as having a toothache and wait until the moment it becomes absolutely unbearable to feel that pain.
Healthy saving is a part of money management, however, it is not about refusing from living. If you are saving so much that you are not allowing yourself to purchase needed materials for your hobbies, go in for sports, visit a hairdresser or go to a party, this is really serious. Certainly, again we are taking into consideration a situation when a person can easily afford such things and is not doing it because of some psychological discomfort.
Such an attitude is detrimental not only for the general satisfaction but also for your metal health and personality. By the way, you should always remember about the people surrounding you who might depend on your financial decisions. Such a behaviour might even lead to a breakup with your significant other.
Underestimating your time
One of an extremely common feature of people who are too much into saving is that they usually fail to understand the real value of money or to see it as a strategy and resources.
For instance, a person obsessed with saving might spend an entire day rushing from one supermarket to another one circling around the city since every shop has its own discount offer. Or may be you are one of those people who are ready to save money on the things that are supposed to be done by professionals and you are ready to spend weeks on learning how to do something in order not to pay any extra money for someone’s work.
Of course, you should also add the time needed for learning all of these offers as well. This can definitely help you to save money, however, the question is isn’t it better to spend this time on earning additional money or learning how to earn more money if you do not know how? Finally, if your financial condition is fine and you are doing it only because of your financial obsession, you can really relax and spend time with the ones you love or on the activities you enjoy.
It is crucial to understand that the money we can save quite often can be easily earned or they are at all not worth all of the other significant things we are missing in our life because of our constant urge to save. Remember that even if right now you are not aware of the ways in which you can earn more money, there are many of them and with a proper focus, you will get more. Yet, there is no way to earn time.
You are using only the cheapest services
People with an obsession for saving are also prone to underestimate the work of other individuals and, as a result, they refuse paying decent money for them looking for the cheapest options or, as it has been mentioned in the previous part, they are even trying to learn completing such tasks on their own.
For instance, such a person might feel like there is absolutely no need to pay more for an electrician because after all, it is just some physical work that takes so little time to be completed. Such a person is trying to avoid using any services in the first place not trusting the professionals who had to spend so much effort and time acquiring their knowledge. These people are refusing to accept that too cheap things and especially services can hardly be of a high quality and as a result, they have to pay extra money and waste their time and energy on fixing the things that could have been done in a proper way from the very beginning.
You resign from buying things you really need
A very unfortunate typical behaviour of people with a fixation on saving is to resign from buying things even when they really need them. If you come home to such a person, you will find various creative solutions there. Actually, anytime something necessary gets spoilt, such people either trying to fix it with their knowledge and materials instead of reaching out for professional help or just have to try to make do without them as much as possible.
Of course, this point is not about sensible decisions of not rushing for each and every new item on the market when your older stuff is working perfectly well. It is about the things that have lost their functionality making you or the people living with you suffer.