Asked by Anonymous

Why are some people so obsessed with saving and hoarding money? Isn't the point of having more money to also be able to live comfortably?

I'm not saying that you shouldn't save, but sometimes it comes to a point where is is so extreme

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  • Lee Chun Kiat
    Lee Chun Kiat
    15 Answers, 18 Upvotes
    Answered on 12 Jan 2019

    Save at your comfort level, however I always believe if one feels too comfortable then probably he/she is not saving enough, which is totally fine if you don't mind extending your retirement...

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  • Jason Sin
    Jason Sin
    329 Answers, 419 Upvotes
    Answered on 27 Nov 2018

    It really depends on one's family background/upbringing as well as how much income one is earning. If one comes from a very poor background and has suffered from poverty at a very young age, he/she has the tendency to want to save more because he/she is not willing to go through poverty again. Moreover, if one is earning only $1000+, naturally he/she would want to save more so that he/she has money during contingencies. Don't judge. Do understand everyone is different. Some have to make difficult decision because of their circumstances.

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  • Yong Kah Hwee
    Yong Kah Hwee
    Top Contributor

    Top Contributor (Feb)

    531 Answers, 720 Upvotes
    Answered on 27 Nov 2018

    Yes, but if you keep spending on small stuff, you'll never be able to afford the big stuff (better furniture, better home, etc)

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  • Lok Yang Teng
    Lok Yang Teng
    307 Answers, 415 Upvotes
    Answered on 27 Nov 2018

    Maybe they're taking 'every cent counts' a little too literally. You need to gauge and give yourself the little leeway for indulgence yet not be so frivolous about the small expenditure. Saving is to enjoy in the future but if there's misery in the process, what's the point?

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