Over the past few decades the frugality movement has gained traction with many people joining the bandwagon. So popular has the concept of frugality become that a survey conducted in 2018 by Slickdeals found that 92% of Americans would date a person who practices frugal living. And why not? Frugality has many advantages. Chief among these reasons is that frugality enables one to save. Unfortunately, there is a very thin line between frugality and miserly. It is very easy for one to cross from being frugal to being a miser especially because a good number of people do not know the difference between the two. While frugality refers to the practice of being more aware and cautious with your money, and spending it only on the necessary things, Miserly is not spending your money regardless of whether you need something. So how do you know frugal has become cheap? I will tell you in a moment
Signs that you Have become a Miser
·You are always on the receiving end.
If you notice that your friends are always buying you drinks, or meals or tickets to the movie every time you go out, you are no longer being frugal. Moreover, if you are always avoiding your friends so that you do not have to spend your money, you, my friend has become a miser.
·You never buy yourself anything.
When was the last time you bought yourself a new clothes or a pair of shoes? Over one year ago? And do you prefer going to the thrift shop the one time you buy yourself something? Then you have no business telling everybody you are practicing frugal living because you are not.
·You never pay your debts
There are people who would rather lose their friends than pay money they borrowed. Such people get really defensive and angry if asked to pay back money they owe others. This is also another sign of a cheapskate.
·You neglect yourself
You convince yourself that even necessary things like a doctor’s appointment are luxuries. You had better consume that expired box of chocolates as opposed to throwing it away. I hate to break it to you, but you are stingy
·You are always working
If you are the person who is always taking up new jobs for that extra coin and have no time for yourself or others, then you are a miser.
·You have a deep fear of going broke
No one likes being poor but if every of your decision is plagued by fear that you will become poor by spending your money, that is not frugality.
·You have stopped saving and started hoarding money
Another sign that you have become a miser is that you set a savings target but once you attain your target, you do not want to spend your money. You had better stay in the small apartment with a leaking roof than spend the money you had saved to buy a better house. In case you are wondering why I am so concerned about calling out your cheap habits, it is because stinginess is dangerous.
Dangers of Miserly
·You end up overspending
Sometimes you may think that by compromising quality for price, you are actually saving. Unfortunately, sometimes you refuse something because it is expensive in the hope that the prices will fall only for the price to go up.
·You live miserably
The main trait of stinginess is deprivation and sacrifice. When you are stingy you deny yourself even the things that you really love. In the end, you lose out on your social life and you become sad and miserable
·Extreme Stinginess maybe a sign of a psychological Disorder
Research has established that stinginess is a symptom of Obsessive Compulsive Personality Disorder. If you find yourself exhibiting some of the signs discussed above, it’s time to take a closer look at your psychological health.
·No amount of money can satisfy you
Stinginess is not about saving, rather it’s about an insatiable love for money. Even if you become a millionaire you will never have enough money.
·You spend your life alone-with your money
As noted earlier, stingy people cannot spend on themselves let alone other people. With time, they become selfish with their time too. They avoid other people believing that they are minimizing their chances of spending. The result is that people avoid you and you spend a lonely life. The worst part is that once you die, the money you were hoarding is left at the disposal of other people to use as they please.
·You never see paradise
I am not joking here. When that final day of judgement comes, you will be left alone on earth as the rest proceed to paradise especially if you are a Muslim. The Quran is very particular about stinginess. If you don’t want to spend a lonely eternity on earth better stop being stingy using the following tips
How to stop being Cheap
·Accept that you are stingy
The first step to healing is accepting that you have a problem, then you can make steps towards getting better. If you do not accept that you are stingy, and that it’s is not a good habit you will not make any effort to change.
·Realize that there is more to life than money
Each one of us has a unique purpose on earth and I am certain that your purpose on earth is not to make as much money as possible. Therefore, have some other goals in life other than accumulating money, which leads us to the next point
·Detach yourself from money
If you find that you are having an unhealthy attachment to money, try to detach yourself from it. Go out more with your friends, tip the waiter once in a while, buy yourself a new pair of shoes, offer to pay the bill from time to time.
·Love Yourself
Your love for yourself should be more than your love of money. When you love yourself, you won’t sacrifice your happiness just to ‘save’ your money and you will not buy poor quality things just because they are cheap.
·Have a Budget
Stinginess for most people comes from fear that they will waste their money. Before going shopping, have a spending budget and stick to it. Also get into the habit of tracking your finances. When you get disciplined with your finances, you are able to spend without wasting.
Conclusion
Stinginess is brought about by the fear that you will become broke. Therefore, instead of spending wisely (frugality) you don’t spend at all. A life of deprivation and sacrifice is a miserable life and nobody deserves such a life. You have to acknowledge that you have become stingy before you can change your lifestyle. Most of the time you start by being frugal then become stingy. Luckily by using the above tips, you can always go back to frugal living and enjoy your life while still saving for the most important things in your life.
