To think saving can become as obsessive as spending?

[NiftyMintMoose]

We often talk about overspending as a problem but I do think the opposite can be true as well. I’ve seen people become so focused on saving and optimisation that they struggle to enjoy anything in the present, even when they’re financially secure. It feels like there’s a fine balance between “enjoy life, nothing is guaranteed” and “be sensible and plan for the future”, and that most of us wrestle with finding a healthy middle ground.

AIBU to think saving can tip into obsession just as spending can?

I think a person can be obsessive about saving.

I don't think it's the same as spending because it's very easy to define "has no/not much money" but much harder to define financially secure.

I am what some would call financially secure. But I'd like to be able to give my DC decent amounts of money for house deposits and to have sufficient to cover my old age to live in a standard I'd like. So any more I can save is going to be usefully spent. Most savers won't be in the "so much money they are unlikely to spend all of it ever" category.

Yes I agree.

I still prefer having savings to not having savings though.

It's not the same, because the outcomes and opportunities each provides are inherently different, for example a lovely holiday now versus early retirement later, etc.

It can become obsessive however its also a matter of routine and training.

I came within a gnats whiskers of being totally bankrupt and losing everything. Partly my own fault and partly being too trusting (also my fault I guess).

For a long time I woke at 3am terrified and that continued for years afterwards. I never wanted to go through that again and so I worked as hard as i could, lived as frugally as i could, and saved as much as I could.

Now I have a large pot of money and no debt but income is tailing off (though still at a level many would be happy with). But I still have that fear and so still live frugal. Not that I count pennies or choose economy food, but I dont go out and buy jewellery or do restaurants often, and cant bring myself to upgrade my 12 year old 140k mileage car.

I think I just now look at things and their price and come to the conclusion that its just not worth it, either in pure value, or in its value to me.