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Frugality - lifestyle choice or addiction?

Discussion in 'Other Substances' started by Damien Lee, Sep 15, 2015.

  1. Damien Lee

    Damien Lee Community Champion

    Shopping and spending addictions are a common problem in today's super-capitalistic and materialistic world. New products, services and travel destinations are becoming increasingly available to a greater number of people. Thanks to cheap credit, it's incredibly easy to be lured in even if one can't necessarily afford all these goodies.

    However, there are plenty of folks that don't buy into all of these. I know that plastic money and debt is very unappealing to many people out there. It's not uncommon to meet frugal-minded folks who prefer to make do with what they have, and not splash out on fancy cars and expensive holidays.

    Is it possible to be addicted to frugality or is it simply a lifestyle choice?
  2. lalabee21

    lalabee21 Active Contributor

    I think that everything has a limit and all excesses are bad. Shopaholics have a serious problem, but frugality is not a better option. It’s ok to be prudent, but we also have to keep in mind that all we take when we leave this life are our experiences. Not wanting to spend in things that give us moments of pleasure and happiness is not the way to go.
  3. FuZyOn

    FuZyOn Community Champion

    I don't think it's necessarily an addiction but rather a way of living, but I don't think it's smart to live under your means for all your life. Okay, you're saving up money and that's admirable but what are you going to do with hundreds of thousands of dollars in your account when you're on your death bed and ate spinach and rice for all your life?
  4. Nergaahl

    Nergaahl Community Champion

    I have never heard of this before, but in my opinion it is only a lifestyle choice, and not an addiction. I can't even imagine how one can develop any kind of addiction with this. It's like being addicted to a vegan lifestyle, which is pretty much impossible. You can't be addicted to a lifestyle, as you already do it every day.
  5. 111kg

    111kg Community Champion

    I think you don't understand the concept of frugality too well. It's a different thing when you are frugal (you don't buy things that you don't need) than when you are a cheapskate and avoid spending money at all costs. Most of the millionaires are frugal people because that' the only way you can accumulate wealth, but not all of them are cheapskates.

    So...frugality is a lifestyle, but being a cheapskate is being addicted to saving money.
    L_B and kassie1234 like this.
  6. kassie1234

    kassie1234 Community Champion

    Well said - I like to think I am frugal in that I don't waste my money on things that I would deem unnecessary. I don't need jeans that cost $250 when I can get a perfectly nice pair for $30, for instance. I do like to splurge though on things like our family vacations because to me, they're all about making memories and you can't put a price tag on that.
  7. Coolkidhere

    Coolkidhere Community Champion

    That is a nice differentiation of being frugal versus being a cheapskate. So in that sense, frugality is a lifestyle choice, not an addiction, at least for me. When you earn your own money, you realise how difficult life is. Especially living in a third world country, I must say I am very frugal. I only buy what we need. Sometimes we buy some wants, like clothes or toys. But the key point here is, buying only what you need, and splurging sometimes on certain things.

    Being a cheapskate means that you do not spend money even on your needs. Or if you do, you tend to buy even low quality products that can hurt your health. In some extreme cases, middle class or average earners scout through garbage bins for their food. That is being addicted to saving money, I think. When you jeopardise your health, or your family just to save a few bucks.
  8. zaerine

    zaerine Community Champion

    I also think that it is a choice especially if a person can afford to spend to luxury things and chose not too. There might be some who not like spending to the extreme that even it is needed, they would not spend. There should really be a limitation and moderation.
    Coolkidhere likes this.
  9. Coolkidhere

    Coolkidhere Community Champion

    Yes, I know some rich people who spend and spend and spend their money. I also know some rich people who doesn't like to spend their money even if they have a lot. It is a choice. But if I have to choose, I'd rather be frugal bordering to cheapskate, than be very extravagant bordering to materialistic.
  10. zaerine

    zaerine Community Champion

    I would also be rather frugal than materialistic. It is right to spend properly since anything in excess can cause bad things. Just like in spending too much, it could lead to being broke.
    Coolkidhere likes this.
  11. Coolkidhere

    Coolkidhere Community Champion

    Yeah, I guess that's one risk of being materialistic and addicted to spending, you could get broke. And mostly, the rich people can be victims of this. Not so much the poor as you know, they really don't have many to lose in terms of material things. While the rich people can lose everything in one snap.
  12. SLTE

    SLTE Community Champion

    Lifestyle choice. Frugality doesn't strike me as an addiction because in many cases it requires willpower to be frugal, which is not the case with addictions, where you're ignoring willpower and just giving in to temptation. If anything I'd say that a person 'addicted' to frugality is more likely to be consumed with the accumulation of wealth, ala Ebenezer Scrooge, and unwilling to give up their money under normal circumstances.
  13. serenity

    serenity Community Champion

    I don't think frugality is an addiction, rather it's a way of living. Sure they might feel the need to save money as much as they can, but I think it just borders on miserliness more than anything.
  14. xTinx

    xTinx Community Champion

    Frugality certainly starts out as a decision. Upon frequent repetition, it becomes a habit. As you're already aware, a habit, once started, is difficult to shake off. So I guess my point here is simple and a lot of the members have already pointed it out: in everything you do, practice moderation. Excessive over-the-top habits can back fire.
  15. zaerine

    zaerine Community Champion

    Right. No matter how much money you have, if you become addicted to spending or shopping, all the money can be just gone before you know it.
  16. ReadmeByAmy

    ReadmeByAmy Community Champion

    I think it is not a form of addiction but a lifestyle choice...Well, all I can say when it comes to this matter is that....We must know what kind of life we had and if we had the money to buy all this material things....We must remember that
    WE SHOULD LIVE OUR LIFE WITH THE MEANS OF OUR INCOME....I am glad to say that I only spend up to the extent of my earnings....I always allocate my monthly income for our expenses in the house such as food, utility bills, and other miscellaneous expenses...And I see to it that 20% of my income goes to my savings and if ever there is still an excess that is the only time I will spend something for myself. I am not fascinated with the latest fashion trends that is why I do not always go shopping. I rather save my extra money for future use rather than always buying material things...If we had the money today it will not be forever we will have it in our life. And so we must have something in hand when hard times knocks our doors of life. It is better we had savings rather than nothing at all when our needs arises.
    Last edited: Sep 23, 2015
  17. vegito12

    vegito12 Community Champion

    Sometimes a person wants to keep money for bad times so choose to eat the foods which are only needed and cut out the junk or foods which may cut into the budget too much, and it can depend on the wages as well of a person. I think some people who have more money they tend to spend more and buy things, which may seem good at the time but later on is no use for them. I reckon saving money is important as it can come in hand when you need it and also hope people do realize that they should be wise when it comes to money and use it for good means and view it as a security.
  18. missbishi

    missbishi Community Champion

    It's not an addiction at all. Frugality may be a habit or a manifestation of anxiety but it isn't an addiction. Nobody ever got withdrawal symptoms from not being frugal.

    There's nothing wrong with being frugal on the whole. It's only when people are walking round with holes in their shoes and claiming that they are broke whilst all the time they have $10,000 in the bank that it causes problems.
  19. Tsky45

    Tsky45 Community Champion

    Frugality is definitely a lifestyle choice. It's about people who don't want to live beyond there means and that's understandable. I don't think this has to do with addiction. Still there are some people who take frugality to the extreme. But every thing has to be done in moderation even budgeting.
  20. Jasmine2015

    Jasmine2015 Community Champion

    I would say that it is a matter of life style. You don't have to be poor to be frugal. Now being addicted to saving money, well I don't know if that exists but that is something to think about.