If you are reading the articles on our website, in all likelihood, you are genuinely interested in techniques allowing you to manage your finances. Certainly, saving money is one of the essential parts of the process and it is necessary for everyone unless you really can call yourself a millionaire, however, even in the latter case people are capable of losing everything making poor financial decisions.
Yet, our article is targeted to the people who is into saving in order to acquire more money for financial safety or investment. It is also not for those who are in a rather poor financial condition so that saving becomes a matter of survival to them.
Saving as an obsession
In all likelihood, you have come across hoarders or people with the obsession of keeping anything they have at home. This obsessive-compulsive behaviour can become thus intense that people refuse not only from getting rid of the things they are not using at all as well as of the things that do not have any possible way of using even if they really would like to have some application for such stuff, but also refuse to throw away utter garbage. Furthermore, such unhappy individuals might start shopping obsessively and even take the things others have thrown away home without having any particular need in them.
Just like it is in the case of obsessive saving, hoarding has overcome a thin line of a sensible practical approach to objects that can be kept for various real needs and reused in an unexpected manner. Some people who start saving too much while having enough money for a comfortable lifestyle without a need to be worried about their financial safety in the future are still prone to excessive saving because of some particular internal psychological factors.
If you are feeling like you might have begun saving too much or you are hearing this from your family and friends, it is a high time to make a pause and reassess your expenses. Be honest with yourself and you might find some things you are doing that are not exactly healthy no matter how much money you can save on them. Remember that such an approach of excessive saving can impact your family negatively as well.
What is so wrong about being overly focused on saving?
Even though you might find it absolutely fine to save too much when there is absolutely no practical need for it, it is actually rather serious.
First of all, it is unhealthy for both your physical and mental well-being. Your health and safety depends on the quality of goods you are using as well as the quality of your food and these things become heavily compromised with excessive saving.
Secondly, your personal life and satisfaction from life deteriorates significantly as you might start avoiding any activities requiring payments from you. Whether it is resigning from your hobbies, meetings with friends, participating in cultural life, education or anything else, this will hardly make you happy. Since such a fixation without any practical meaning is itself the result of some psychological disturbance, you will certainly lose any chances of getting back on track and get satisfaction from your life if you deprive you from everything.
The third serious implication of being too much into saving is the inability of valuing one’s own time which is itself a rather serious problem. Such people tend to do anything to save their time even when in the reality the value of this saving compared with the time lost is really miserable or worthless.
Finally, you should be aware of the ways in which such a behaviour can impact your relationship with other people. This can be really rather negative. Unfortunately, people with an obsession for saving can disturb their families too much making them feel rather bad. This is extremely sad since these people might love you very much but they will suffer a lot because of all of the financial restrictions you might be enforcing on them. Definitely, it also depends on your personality as some people might also be prone to various forms of aggression seeing their families not obeying their saving rules.
While your young children will have to bear life with you, older ones as well as your spouse or partner can just eventually leave you.