{ "media_type": "text", "post_content": "Yes it is great to save, but at what point does one become too frugal? How do you know what is worth spending your money on? When do you stop denying yourself of items or experiences which will make you happy for the sake of saving?", "post_id": "605721c28fc406002149bcb1", "reply_count": 10, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

Yes it is great to save, but at what point does one become too frugal? How do you know what is worth spending your money on? When do you stop denying yourself of items or experiences which will make you happy for the sake of saving?

like
Posting as :
works at
You are currently posting as works at

I’d say what really makes you happy... I never regretted spending money on traveling. I did regret spending money on all my clothes especially my work closet that I haven’t touched in a year. It took me a while to realize buying stuff like this makes me happy for about 5 min.

like

Saving doesn’t mean frugal. Make a budget that is reflective of the life you enjoy living. If you have a plan for your money you can save and enjoy spending on the things that make you happy but there has to be balance. It’s not about sacrificing everything to save. It’s about living below your means and finding balance. Similar to others above, I love spending on traveling or events but always regret clothes purchases. So I made a budget that allocates money for travel and events and not a monthly clothes allowance which is now additional money I’m saving. You have to figure out what makes you happy and just make sure you are intentional with your spending and not mindlessly throwing it away to keep up with your friends or buying things you think you’re supposed to have. There are no “rules”.

like

Be frugal on things you don't care about but allow yourself to spend (within reason) on the things and experiences that make you happy. Ramit Sethis book I will teach you to be rich has a section on this. There is also a podcast and blog called Afford Anything that has the tagline that you can afford anything but not everything which I check out when I see an interesting topic.

Figure out what is important to you, save a certain amount to retirement accounts first, and then you can decide what to do with the rest. I personally don't care about cars so I've spent more on travel, savings, and my house than I would have if I had a large monthly car payment.

like

Thanks!

When your SO starts telling you they are disappointed you can’t do things because of frugality. Not really a joke

like

Draw your own line in the sand. It’s not as hard as you think. Automate your saving by depositing a set amount every month in your preferred medium of saving. Once you’ve decided how much to automatically save each month, whatever you have left over in your checking account, spend freely without guilt. If you spend leftovers, there’s far less guilt, because you know you’ve already paid yourself first.

like

You know you’re too frugal when being frugal makes you happier. If you think you’re denying yourself items, then you have to rethink about what you’re doing to yourself.

Ugh this hit me hard

Additional Posts in Personal Investment Chatter

What should I be doing while pounding the pavement for work in privacy?

Background: I'm a 2019 grad, my state appellate clerkship is ending & I don't have a job lined up. I have extensive experience with privacy law from law school (JD w/ emphasis in privacy, a fellowship, NJ AG exp, CIPP/US & in house pharma) and have represented clients in the SDNY, EDNY, & DNJ (emp. discrim. mediations/settlements) and FINRA (arbitration).

FYI I'm barred in NJ with an exam score eligible in all UBE states

like

Do Capgemini provide joining bonus??

like

The absolute CRAZIEST thing happened today. A student ran in and told me someone had dumped books in the hallway recycling bin. I rescued over 75 perfectly good books! What the actual hell???

likefunny

Is there any polite way to ask to be removed from an email thread? People are really abusing reply-all today.

like

what time is too early to have a beer at work?

like

This case is like an ultra-slow motion video of already-dried paint. It’s a sensory deprivation tank doled out one record-cite at a time. Working this case feels like a never-ending layover. It is unflavored gruel. It is a beige cubicle. It is my life slowly seeping away. And I hate it. I hate it so much.

like

Those in-house, do you find you had more autonomy in firms? E.g., at firms if I was slow I just took the day off — w/o formally telling anyone — or ran an errand middle of the day and came back and made up the hours. This doesn’t seem possible in-house. It feels like a true “on the clock.” Anyone else?

like

Has anyone here interviewed with Epsilon for a PM role? Just got invited to one and was hoping to see if anyone has any inputs.

like

Anyone know the earning potential for the “Data Scientist, Analytics” role at Facebook?

like

Anyone used a PR firm ?

like
like

As an EA, does it make a difference it your coach is a manager or a senior manager?

like

Are there heat tested areas for AUD like there is for REG and FAR

like

What are some federal lawyer jobs (but not AUSA)?

like

Am I right? 🤦🏾‍♀️🤣🤣

Post Photo
likefunny

How do I get a my Whitney permit!

The first bridge on my island was built via diy. Now it looks like I have to buy a bridge from Tom nook for my 2nd and 3rd bridge on the island? You can diy other bridges?

like

Hi,

Can someone please suggest the best ELSS mutual funds for 80C deductions?

like

Hi all, thinking of making a transition to sales from consulting. Only 2 YOE so I’m fine with starting over career wise. What do you guys like about your job? My main reason is the interaction with people and trying to sell a solution to problems

like

Additional Posts (overall)

Any ideas for how to invest in Asia? ETFs, real estate, etc. Seems like it'd be a great place to park money to pass on to the next generation.

like

What types of stocks/funds should you invest in in your Roth IRA? Currently have all index funds in there but wondering if I should do it differently

like

Is there a way to have Vanguard automatically investment X amount into VTI every week from my bank account? If so how? I can’t seem to figure out the website

like

Hey All! Trying to search this bowl but didn’t quite get an answer. I did a back door IRA in late January 2022 for 2021 (both for me and my spouse) through Vanguard. Can I claim this as part of filing 2021 taxes? My tax filer asked for 1099 form but that isn’t available on Vanguard. Also, is there a Form 8606 that needs to be completed? So, essentially which forms and can I do it this year? Appreciate the input!!

like

For parents saving for college, how many of you feel like your kids need to go to selective schools for their undergraduate degree? If so, why? See Dale/Krueger (con) and Caroline Hoxby (pro)

like

I'm a novice investor and looking at having Edward Jones do my asset management at a 1.1% fee for $500k in assets. Anything I should be weary or considerate of before doing this?

funnylike

HSA where do you invest in fidelity? Based on the advise on this group, I opened a fidelity HSA although my employer has it through BOA. Also, How do you roll it over?

like

Just opened a Roth IRA and started contributing to it. Late 20’s. Suggestions on investments? Don’t need the money soon. Already bought a house.

Anyone use Merrill Edge and have auto-invest set ? What do you auto-invest into ? I believe you’re limited to mutual funds but just wanted to see if anyone else did anything interesting.

like

I am in my mid 30. Is target fund 2040 a good option to use for my pre-tax 401k account? Thanks

like

Biweekly mortgage payments - does it actually reduce the interest you end up paying? Or is the only benefit that you make two more payments in a year? If the latter, don’t see the benefit of it over

like

Anyone else here invest in Silver or Gold? My silver streamer (WPM) has been saving my account lately.

like

What happens if you lock in a mortgage rate but the rates go down even more? Still home shopping so not closing anytime soon. Can I just go with a different lender?

like

Should you time your investments in Index funds? The market seems so high right now. I am worried about putting in a whole bunch of money all at once---should I space it out to hedge?

What's the return on Treasury bills? Is it advisable to put away 5K in there?

I hate money lying in BOFA savings account bringing a mere 2 - 3 cents in interest

like

Recommendations for checking accounts? I have Wells Fargo and Chase right now. Looking to close them and move to a different one. Both of the accounts aren’t really serving me

like

Blood bath at Wall Street. Time to buy MFs?

like

Beginner here, so I’m sorry if this is a basic question. I grew up in a household that wasn’t making very much (IE my dad managed a family of 4 on 28k at one point). I’ve been lucky to get into consulting where I’m making more than both my parents combined. I want to secure a good financial future for my kids and want to know if anyone has advice on getting into investing, or even sources they found helpful? I know literally “zero”

like

What is everyone’s guess in terms of what Biden will do (over next 6 months) in regard to student debt? Do you think they’ll put a band aide on the problem by forgiving $10k or actually make positive change? Personally I’m hoping interest is punted again.

like

Any Canadian ETF recommendations?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy.

Already have an account? Log in

New to Fishbowl?

image with Fishbowl logo and arms reaching out for a handshake

Already have an account? Log in

By continuing you agree to Terms of Use and Privacy Policy.
Messaging rates may apply

For account settings, visit Fishbowl on Desktop Browser or

General

Legal