She Strengthens

The Hidden Dangers of Over-Saving

As someone who’s been working since the age of 12, I’ve always been driven to save as much as possible. But recently, I realized that I’d taken it too far. My fear of not having enough money had morphed into a crippling obsession, dictating every financial decision I made.

A Life of Frugality

I’ve been fortunate enough to live rent-free with my parents, which has allowed me to allocate a significant portion of my income towards savings and retirement. But in my quest to build a safety net, I started saving an unrealistic 74% of my income. This meant sacrificing almost everything else, from social activities to basic luxuries like getting my hair cut.

The Burden of Extreme Frugality

Looking back, I can see that my extreme savings plan took a toll on my mental and emotional well-being. I was constantly stressed, worried that I wouldn’t have enough money to cover expenses. I turned down invitations, skipped meals out, and even stopped taking care of myself because I didn’t want to spend a single penny.

A Wake-Up Call

It wasn’t until I met my $5,000 savings goal that I realized the error of my ways. I had been so focused on reaching that target that I hadn’t stopped to think about the impact it was having on my life. When I finally took a step back, I saw that I had been living in a state of constant anxiety, always wondering if I was doing enough.

Finding Balance

It’s taken me a while to come to terms with the fact that it’s okay to spend money occasionally. I’ve learned to prioritize my needs over my wants, and to allocate my income in a way that allows me to enjoy life while still saving for the future.

Three Key Reminders

As I continue on this journey, I’ve found it helpful to remind myself of a few key things:

• It’s okay to save less than 74% of my income. As long as I’m contributing to my savings and retirement, I’m on the right track.
• Spending money isn’t the enemy. It’s okay to treat myself every now and then, as long as I’m being responsible and mindful of my finances.
• I’ve found what works for me. Through trial and error, I’ve discovered a balance that allows me to save, spend, and enjoy life without sacrificing my mental health.

A New Chapter

I’m grateful to have learned this valuable lesson. By finding a balance between saving and spending, I’ve been able to break free from the cycle of anxiety and guilt that once controlled my finances. It’s not about depriving myself of everything, but about living a life that’s rich in experience and connection.