Too frugal - is it unhealthy?

ATTS on 08/01/2024 - 10:36

Hi, just wondering can you be too frugal? And can it be unhealthy?

For some reason when I buy something, most of the time I want some sort of deal or discount.

But I'm a little reasonable, as what I buy it needs to be good aswell, but a discount can sway my decision to buy a particular brand, but I must enjoy it. For example when I want ice cream I usually wait for a 50% sale, but for eg I would get streets cornette over Peters drumsticks or i would wait for my fav brand magnum

But sometimes i dont know why, i dont think twice about buying a nice $600 steak but i keep looking for sale products at the supermarket

Something weird also. Maccas if i buy i wait for an offer, but it also doesn't bother me if i go to an independent burger place and spend $12+ for a burger

Thanks
Just looking for a difference perspective

General Discussion

Comments

    • ATTS on 08/01/2024 - 14:06

      Thanks makes sense

  • mapax on 08/01/2024 - 13:08
    +1

    I’m in the wrong thread, most expensive steak I’ve had was $50…

    • Rear CreviceEruption on 08/01/2024 - 13:28
      +4

      A few years ago I would think twice before treating myself with a $10 steak, chips and salad at the pub on Tuesdays.

      • Dollar General on 08/01/2024 - 13:51
        +1

        I remember the good ol’ $10 steak nights at the local.

        Now the cows are getting fatter and fancier.

      • johnno07 on 09/01/2024 - 23:00

        a few years ago
        $10 steak

        Come on now gramps, back to the retirement village!

  • thisisscotts on 08/01/2024 - 13:34
    +7

    The way I've seen "unhealthy" with regards to frugality is when it affects those around the person. I think it's fine to have disagreements with friends/family over what is value-for-money. But some people are so cheap that the people around them end up distancing themselves and avoiding that person. On top of that, some people can be self-serving and calculative in the pursuit of saving money - that certainly affects those around them.

    With respect to the nice steaks - we all value different things. I'm perfectly happy to buy a nice suit from a tailor that I trust, which will cost me a fair chunk, and I don't even need suits for work or general occasions. But I certainly do wait for my groceries to go on special if I don't need them straight away, saving cents or a few dollars here and there.

    • ATTS on 08/01/2024 - 14:14

      Oh i see thanks

  • Blahness on 08/01/2024 - 14:11

    Where can you get a $600 steak? I’d like to see what it looks like

  • lachhelix on 08/01/2024 - 14:29
    +5

    Lmao we've been getting some real doozys in the forums as of late

    Started off fine until $600 steaks lmao

  • Cheaplikethebird on 08/01/2024 - 16:01
    +3

    I think you'll find the dominant philosophy here is more about getting the most value for money over being a straight out cheapskate.

  • WordsToSayIt on 08/01/2024 - 19:56
    +3

    What's the point in eating very good quality steak with very good nutritional content and then fcuking up your body with Maccas? This is a bizarre scarcity and miserly concept that needs good therapy.

    • ATTS on 08/01/2024 - 21:39
      -1

      You do make a good point

      Sorry, i wasnt born in this lucky country

      So dont know much about diet. So what kind of things do you eat when you want to treat yourself

      I only thought maccas was ok as i looked at dwyane johnson diet and he does have very big cheat meals with things like pizza, burgers , fries, cookies etc

      So i thought if a millionaire could eat those things wouldnt it be ok for a normal person?

      • Cheaplikethebird on 09/01/2024 - 08:51
        +4

        Bro the rock is on steroids and the cheat meals are more about driving social media interactions than being a useful part of his diet regime.

        • ATTS on 09/01/2024 - 09:25

          I see thanks

      • johnno07 on 09/01/2024 - 23:04

        Surely you're not a real person.

      • Windows7forever on 10/01/2024 - 19:41

        I love this guy already 😂

    • ATTS on 09/01/2024 - 11:29

      What about pho is it any good?

      • Fobsessive on 11/01/2024 - 16:47

        Pho is healthy (not the white rice noodles, but the clean beef and veggies and broth are)

        • ATTS on 11/01/2024 - 19:04

          Oh i see

          Yeah i also heard that restaurant pho, they dont skimm the fat from the broth

          Also apparently the broth is also high in sodium

          Yep yes refined carbs ( rice noodle) arnt healthy apparently

          • Fobsessive on 12/01/2024 - 00:44

            @ATTS: Yeah the broth is probably high in sodium but it's so delicious.

            Based on takeaway pho, there's not much solid fat in the broth nowadays.

            I eat clean and healthy (wholegrains, limited saturated fat) but pho is a semi-indulge meal otherwise what's the point of being deprived

            • ATTS on 12/01/2024 - 07:29

              @Fobsessive: Yeah i love the broth aswell and the soft slippery texture of the noodles

              Oh i see re broth

              Good point
              Yes, gotta include your fav foods (junk) as part of a healthy diet

              Though when i eat pho i like to load up on the sauce and bird eye chillis, which make the pho taste even better

              Haha i like the end the best, its like digging for treasure

              • Fobsessive on 12/01/2024 - 12:46

                @ATTS: The sauce changes the broth flavour so I never add it. My end is when I finish the bowl haha

                • ATTS on 12/01/2024 - 16:49
                  +1

                  @Fobsessive: Oh i dont put the sauce in the broth

                  I use as a dipping sauce to elevate the meat flavour

                  Nice
                  I always seen people finish the bowl completely, i feel uncomfortable doing that, so always leave a good amount left

                  • Fobsessive on 12/01/2024 - 18:08

                    @ATTS: It's normal to leave a lot of soup leftover too.
                    Also at some restaurants you can ask for free soup (check with them though) to add to your bowl to warm it up midway!

                    • ATTS on 12/01/2024 - 20:07
                      +1

                      @Fobsessive: Oh right

                      Oh i didnt know that. I will do that next time, thanks,

                      Yeah i usually like it boiling hot

                      Although not so much in summer when it makes you sweat profusely

                      • Fobsessive on 12/01/2024 - 20:59

                        @ATTS: Slightly off topic but I've wondered how pho would taste with a rare steak (like a proper, rare NY strip, just sliced up…)

                        • ATTS on 12/01/2024 - 21:16
                          +1

                          @Fobsessive: Lol do a BYO

                          And put it in after they put the bowl on the table haha

                          Im pretty sure for "rare beef" they put the beef at the end then put the broth on top and bring it to your table really quickly thats why its still "rare" when they bring it to your table

  • Nickels n Dimes on 08/01/2024 - 22:06
    +2

    I always look at what's on sale in Colesworth - most packages products have 2-3 competing brands with very similar products, at any time one of them will be on sale but not the others, icecream/bread/cereal/chocolate/tuna/sauces/etc. you just go with the ones that are on sale - there's almost never a reason to get the full priced items in that scenario.

    If you're concerned about how you appear to others, just focus on being balanced and considered, rather than always scrimping with every social occasion - life is about living after all!

    • ATTS on 09/01/2024 - 09:21

      Yes i look for sales aswell

      Thanks for the tip

      I was more referring to if that frugal trait was unhealthy

  • Benno007 on 09/01/2024 - 09:00
    +4

    I used to be more frugal, and it made me much more stressed over time. I could probably do with being a bit more frugal this year though 😂…

    For me it was things like clothes, cushions, bed sheets etc, I would keep them even though they were torn or stained, because I was either waiting for a sale or didn’t want to just be a throwaway consumer. I’d see what I wanted and then keep seeing ads for it and subconsciously was getting annoyed more and more that I wasn’t buying it. I’ve never had to ‘save up’ for things like that, so my cheapness is just based on my perception that money won’t last

    • ATTS on 09/01/2024 - 09:26

      Lol i see thanks

  • Furwinkle on 09/01/2024 - 09:27

    I was just watching podcast of Ramit interviewing retired people with $4M in their portfolio felt bad about eating breakfast for $99.

    • ATTS on 09/01/2024 - 09:29
      +2

      I see thanks

      I guess thats how i feel sometimes, its not that i lack money, its for one reason or another i find it difficult, like i dont want to spend money sometimes like I want to spend more wisely sometimes

    • Hangryuman on 09/01/2024 - 16:21
      +4

      'retired people with $4M in their portfolio felt bad about eating breakfast for $99'

      it's about comfort zone habits -

      people who grew up poor and hungry, if they win the lottery, typically quit their job, splash out on luxury treats for themselves, friends and family, travelling the world First Class, and staying in 5 star hotels, after which the money is typically gone within 12-18 months - I met one of these - all he had left after 18 months was a shack in the woods and an old Jeep. He'd had fun. So lottery winners who grew up poor typically return to their familiar comfort zone - being poor.

      people who grew up middle-class and always had enough as long as they managed carefully, if they win the lottery, typically put the money in the bank, and think about it for some time before investing it carefully, and don't change their lifestyle much. They stay in their comfort zone - being middle-class.

      humans have a strong tendency to remain in their comfort zone - and tend to continue behaviours absorbed in childhood from watching their parents.

    • nse on 10/01/2024 - 12:04
      +1

      'Spend extravagantly on the things you love, and cut costs mercilessly on the things you don't.'

    • Joku on 11/01/2024 - 09:14
      +1

      Wealthy people don't like to be ripped off. Shock horror.

  • Ononono on 09/01/2024 - 13:49
    +2

    I highly recommend reading "Die with Zero", it addresses exactly your problem.

    • ATTS on 09/01/2024 - 14:53

      Thanks i will read that book by bill perkins

  • umoddbro on 09/01/2024 - 14:49

    That's kinda like me, I penny pinch everything but won't hesitate to drop couple hundred on a dinner… It's kinda like you're rewarding yourself, you save so much here and there that some times you just gotta treat yourself.

    • ATTS on 09/01/2024 - 14:55

      Makes sense, thanks

  • Nebargains on 09/01/2024 - 15:03

    Some people do take it too far IMO. A lot of people who want to "FIRE" do so by eating beans and rice to save up enough money so that they can eat beans and rice for the rest of their lives.

    You need to strike the balance of enjoying life and things like a nice steak (or whatever interests you) with not spending money frivolously.

  • ATTS on 09/01/2024 - 15:07
    +1

    Thanks makes sense

  • kaleidoscope on 09/01/2024 - 15:22

    It's just that when you know you can get certain things at discounted prices from time to time, you are not so keen to get them at rrp. Also some people take deals religiously and I don't think that's healthy…

    • ATTS on 09/01/2024 - 15:41

      Thanks makes sense

  • YoursTruly on 09/01/2024 - 16:04
    +1

    IMO Nothing wrong with being frugal - As long as yours and family’s food, physical and metal health isn’t compromised.

    The occasional splurge is a nice contrast of frugality. Every one needs a good contrast once in a while I reckon. Cleanses the ‘palate’ and makes the splurge/ frugality more heightened and appreciated in the feels.

    If you enjoy it - keep at it.

    • ATTS on 09/01/2024 - 21:11

      I see thanks

      Yeqh nothing compromised

    • SpainKing on 11/01/2024 - 15:56

      My family's metal health is my top priority. Gotta keep 'em lead and bismuth free

  • Hangryuman on 09/01/2024 - 16:07
    +2

    I see Black Bar & Grill is at Sydney's Barangaroo Star casino - https://maps.app.goo.gl/BdFaCtYEEqgqPqRy6 - a friend's son shouted us a meal at a nearby restaurant and a visit to his $2000 a night hotel room there - I forget the name of the restaurant - I ended up with something like a $400 steak, which frankly to me was rather boring - perfect appearance but taste - meh

    I think my review included something like 'typical luxury hotel restaurant - food looks amazing, tastes bland'

    ok - undescribed except 'not born in Australia' and didn't know what pho was, it seems OP is likely a high-salary worker, perhaps around Barangaroo financial district, possibly on sales commission and drawing in over $200K, and possibly brought up poorer thus the frugal habit.

    I'm an old guy retired with more than I'm likely to spend, after a lifetime of frugality, so am slowly learning to spend rather than save, and simply enjoy rather than defaulting to the cheapest or free option - it typically takes 7 times to replace an old habit with a new one.

    first suggestion - save first, e.g. if $200K+pa salary that could be $100K+pa savings, invested wisely, hopefully in some structure like discretionary trust, you should get a top accountant to advise on tax structures to reduce or avoid potential tax or legal liability in future.

    I've read that FIFO workers often feel trapped on the hedonic treadmill - as Mick Jagger once sung 'make so much money - spend it so fast' - the test is, if you got hit by a bus tomorrow and could never work again, e.g. disabled in a wheelchair, would you have enough already invested to live for 50 years ok, or if you have kids/family, would they get enough (beware insurance - their job is to refuse payouts) to survive without suffering or being thrown into poverty.

    $740 steaks may sound like fun with your high-flying workmates (who are not your friends - more like frenemies) but if you lost your job tomorrow, where would the money come from then … ?

    • congo on 09/01/2024 - 17:44

      $400 for ONE steak? Thats a rip off.
      $2000 per night, must be a penthouse or similar ?

    • OfTheOverflow on 09/01/2024 - 19:27

      I find it hard not to despise high-income individuals who wriggle out of supporting society via paying the levy (tax). Then I remember 1/3 of big businesses pay no tax each year while inequality balloons.

    • ATTS on 09/01/2024 - 21:09

      I se e thanks

    • serpserpserp on 10/01/2024 - 14:43

      I ended up with something like a $400 steak, which frankly to me was rather boring - perfect appearance but taste - meh

      I think about 11 years ago now I went to Icebergs @ Bondi and saw a $100 steak on the menu and thought to myself "it must be pretty special to be $100!" and ignored everything else and ordered it. It was a nice steak, but nothing super special about it. I remember being roasted at work wherever I mentioned this $100 steak ("I would never pay $100 for a steak etc.) How times have changed if people are buying $600 steaks.

    • serpserpserp on 10/01/2024 - 14:45
      -1

      the test is, if you got hit by a bus tomorrow and could never work again, e.g. disabled in a wheelchair, would you have enough already invested to live for 50 years ok

      Very few people would have 50 years of salary saved. Even if it was half what you earned

  • Cluster on 09/01/2024 - 16:55
    +4

    $600 steak?

    No, you are not frugal.

    A frugal person looks at a $40 cut of steak in Woolworths and comes back to buy it 75% off on the Best Before date.

    • ATTS on 09/01/2024 - 21:12

      I see, cool

  • phrank on 09/01/2024 - 16:55
    +1

    To answer your questions, yes it's possible to be too frugal, yes it can be unhealthy.

    It could be part of OCPD or having OCPD traits: "A miserly approach to spending for themselves and others because they see money as something to be saved for future disasters"
    https://www.msdmanuals.com/en-au/professional/psychiatric-di…

    It depends what's driving the frugality and if it's having any negative impacts. E.g. spending an excessive amount of time trying to save a bit of money. But if it's easy to get a discount, why not!

    The frugality could be an "undoing" for spending habits like the $600 steaks. Or it could be unrelated. I guess it depends what's driving the decision behind the $600 steak. You could be someone who really enjoys and appreciates fine dining as something you want to experience in life. Other people might spend their $600 of leisure budget on a weekend Airbnb and not think twice about it because it's more of an "acceptable" spend. Or it could be driven by a need to show off and appear high flying as the previous poster suggested.

    • ATTS on 09/01/2024 - 21:23

      I see thanks

      Yeah its easy, i just spend 5 mins looking at a catlogue every week

      The frugality, i think stems from me not wanting to waste things/ money

      I just like what i like, i dont really like money getting in the way sometimes

  • congo on 09/01/2024 - 17:42

    I know of a poor guy that just eat instant noodles, it isn't healthy.

  • Vash1984 on 09/01/2024 - 18:47

    I use time as a factor when trying to save money. I've stopped buying gifts that can't be loaded into my account straight away (ie Woolworths, uber). Too much effort and conditions to use gift cards these days.
    I found it unhealthy in the past when I had so many gift cards and felt that I had to use them or else I'll forget and they expire.
    McDonald's is fun as it sometimes makes me want to try something new with percentage off deals.

    • ATTS on 09/01/2024 - 21:26

      Thanks for sharing

  • OfTheOverflow on 09/01/2024 - 19:28
    +2

    I legitimately thought the $600 steak was a typo before remembering the petri dish of silver spoons that is this forum sometimes lol

  • coffeeinmyveins on 09/01/2024 - 19:48

    But sometimes i dont know why, i dont think twice about buying a nice $600 steak

    You're not frugal if you are buying $600 steaks "sometimes". It's funny because the literal definition of frugal involves being economical WRT food and you're spending that much on a "nice" steak.

    But to answer your actual question, yes, being too frugal can be unhealthy.

    Life is meant to be enjoyed. I've seen frugal people turn into stingy and cheap people who will not spend a single cent more than they need to and will live in abject poverty with a big bank balance. What's the point of that?

    • ATTS on 09/01/2024 - 21:28

      Makes sense, thanks

  • ihbh on 09/01/2024 - 20:05

    For some reason when I buy something, most of the time I want some sort of deal or discount… But sometimes i dont know why, i dont think twice about buying a nice $600 steak but i keep looking for sale products at the supermarket

    There is a term for your actions: penny wise, pound foolish.

    Maybe one-day you might want to switch it around and save the same, but with far less effort.

    • ATTS on 09/01/2024 - 21:29

      Thanks

  • cashless on 09/01/2024 - 21:39
    +1

    Wouldn’t even know where to go to pay $600 for a steak.

  • ldt on 10/01/2024 - 08:33
    +1

    TIL: you can pay $600 for a steak.

  • Bunnyburger on 10/01/2024 - 09:37

    Don't look at price, look at value, intrinsic and extrinsic.

    • ATTS on 10/01/2024 - 09:43

      I see thanks

  • pufffdragon on 10/01/2024 - 12:31

    There's a decimal point missing somewhere in that $600 right?

  • serpserpserp on 10/01/2024 - 14:37

    Link us the $600 steak you buy…

  • BuddhaBoy on 10/01/2024 - 15:00

    I see that you are saving your $$ to spend on $600 steak. Not bad.

    • ATTS on 10/01/2024 - 19:33

      Thanks mate

  • Aerith-Waifu on 10/01/2024 - 16:01

    Can be worse……There is also the $95 potato with 25% tips expected

  • danny1213 on 10/01/2024 - 16:29

    I think I’m very much the same. Maybe wouldn’t get a $600 steak because I’m not a huge meat person, but I’d go spend $500 on a mates birthday gift lol

    • ATTS on 10/01/2024 - 19:34

      Cool, good to know

    • pufffdragon on 11/01/2024 - 19:04

      I've never spent that much on my wife and you spend $500 on a mate? The hell

      • danny1213 on 11/01/2024 - 19:39

        lol 40th birthday gift, was feeling generous

  • rave75 on 10/01/2024 - 22:56

    Same boat. Maybe because we know that nice steak won't be discounted but supermarket goods will.

    • ATTS on 11/01/2024 - 08:18

      Thanks, makes sense

  • yamborghini on 11/01/2024 - 12:13
    +2

    There is a word in chinese for this mentality and it is translated as 'scared to lose'. It comes from a scarcity mindset where you believe that if you accept something on their terms you have lost against them. It forces a winner and loser in every transaction.

    Personally Ive observed it comes with a hyperindividual mindset and a lack of empathy. Likely the person will lack intropection and be Alixythymic as well.

    The reason why you're ok with paying full price for an independent is because there is no way to get a discount. There is no way to win the transaction.

  • payless69 on 14/01/2024 - 09:25

    Drive from England to Scotland and go from splurging to being frugal.
    Spin around Ireland and see splurgers in the North and frugal's in the South.

    Pork gobblers kill forests and chlorinate the pulp just to fail how one should wipe properly.

    Friday worshippers use their left hand and save forests.

    Use a microscope to prove who is cleaner. The result may surprise you!

    Wars are being fought between the 2 factions!

  • AS2035 on 17/01/2024 - 22:33

    You are not frugal if you eat take out.

    Start making everything from scratch.
    buy better produce and cook with it.. the entire herb, the entire fruit, the entire veg.. throw almost nothing out.

    eg Onion skin, the yellow part is seasoning. You can bet your money that all seasoning you buy at the shops when it contains onion, it contains onion skin.

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