Chipping Away - Busting Debt in Boston

A personal finance weblog about my own journey to eliminating my debts and building net worth. Hopefully this will serve as a place for me to share and discuss my strategies and ideas, as well as keeping me on track and focused.

7/10/2006

Anti-Miser - Frugality without being "Cheap"

Just a quick post this morning that I thought would be a good thing to pass along, since although it SHOULD be something that makes you think "well duh...", it could be something that you notice you don't quite adhere to all that frequently. The idea is recognizing the difference between being frugal and wise with your money/finances, and being a cheap and miserly bastard. This goes beyond whether or not others view you as a tightwad, because it comes down to how much you let your fear of spending (or your love for saving, depending on the spin you want to put on it) affect your quality of life.

Meandering through some old posts at Worthwhile Living I stumbled across this post which I think paints the difference quite clearly.

Without going into too much more of a rant, I'll just add that this is possibly the most important thing I've learned over the past few months of gradually taking control of my financial life. The whole reason I'm trying to pay off debts, put money away in savings/investments, make some plans for building wealth, etc... is to improve the quality of my life from a financial perspective. If doing so starts to negatively affect my overall happiness, or deprives me of things I really enjoy... Well, what's the point?

Thoughts?

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