Being frugal is good. Saving money is such an obvious benefit to our lives that it drives our whole economy. However, as finance blog The College Investor points out, we aren’t meant to stay frugal forever.
The whole point of saving money is so that you have some to spend later. Maybe that’s in the form of a retirement fund, holiday plans or sending your kids to university. Nobdy really saves money with the intent to bury it in the backyard forever. As The College Investor explains:
The goal isn’t to be frugal forever. In fact, the goal should be to front load as quickly as possible so that you can be less and less frugal as life goes on. The few early choices you have can make a huge difference later in life. If you can save and do a few smart things early on, you can live the life you want forever.
It may help when you’re saving to make a note about what it’s for. Do you hope to do more travelling in the future? Planning to start a business? Want to have the freedom to walk away from your job if you hate it? Everyone’s saving for something, and it might be worth finding a reason if you’re not.