I’m utterly ashamed that I’m not more frugal...

Image from frugaltownandcountry.com

...Or at least that’s how I felt for the first hour after watching The Ultimate Guide to Penny Pinching on TV. They rounded up a select group of Britain’s best penny pinchers and I was astounded at the extent that some people will go to, to save a penny – and in some cases it was literally a few pennies:

• One guy hadn’t bought any meat in 30 years because he lived on road kill. Frankly, I didn’t see too much wrong with that, a little extreme but to each his own
• One man scanned the bar code on everything he wanted to purchase at the supermarket as he went down the aisles picking groceries he and his wife had carefully listed and if something was cheaper elsewhere, he went there the next day. The list was in itself already compiled from a lengthy internet search of every item on the list to decide the cheapest supermarket to go to that week
• A couple managed to stage their wedding for just under £1,500. To squeeze the budget that tight they did most things themselves and kept everything very basic. Frankly, I agreed that if you don’t have the money then you shouldn’t get into to debt all for an extravagant, OTT wedding
• One lady was so efficient with coupons that she could convert a £65 shop into a £5 event! I was jealous, I have to admit.
• The same lady depended on solar panels to heat up the  family’s bath water – a cold day with no sun shine basically meant her young sons and husband could not have a shower! At this point, I began to realize that this saving obsession may in fact be a disease. Her own mother thought it was a disease. I love to save money but shame on the day when I put money above a basic comfort such as feeling clean 

Inspired by Benjamin Franklin, my closest friends will know that every new year I vow to be more frugal and more industrious in the new year than I was in the last. However, being overly obsessed with saving money can be a negative. Why?

Time efficiency

There are only 24 hours in a day. Part of the reason I work is to buy myself some leisure time. I have a plethora of hobbies which I want to pursue in my non-working hours – reading, writing, spending time with my family and friends, sleeping?! Rather than spend an hour going through price comparison websites to decide where to shop, I can do one of the above.

Productivity

I thought, if these people chased enterprising ventures with as much earnest as they do the bargain hunting surely they would by now be raking it in? One can spend so much time trying to save a buck when in fact, spending the same amount of time trying to find a new revenue stream would earn you two bucks.

Finally, Peace of mind

Sometimes people underrate the importance of having peace of mind. Ms Coupons admitted that whenever she heard there was a deal to be had somewhere she just had to go there and get it – even if she didn’t like the product in question! Come on? I wouldn’t want to have that kind of stress. She felt she was being wasteful if she didn’t take advantage of a deal.

My opinion on the matter is – let’s pursue frugality but let’s not be obsessed about it. I’ll try to be generous of heart but I won’t be wasteful; I’ll try to save money but I won’t make it the bane of my life.

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