Can you be too frugal? Where do you draw the line between frugality and cheap? Is there a danger in being too cheap? There is a fine line that a small portion of the American population walks when it comes to frugality. The news is full of people drowning in credit card and other debts, but they miss the other side of the equation. There are also people who take frugality to an entirely different level. We all probably know someone like that. We’ve witnessed people who drive across town to save money on gas, budget their grocery spending down to the penny, or even people who take unethical steps to stretch their money each month. Of course, not all frugality is bad. We all need a little frugalness in our lives. But, how do we become frugal if we’ve missed the boat?
In this episode of the Money Q&A podcast, “Your Money: Your Choices”, I interview Gary Forman who is the editor of The Dollar Stretcher. Since 1996, Gary and The Dollar Stretcher have been helping readers learn how to be frugal and take their frugality to the next level. During the interview, I pick Gary’s brain and try and find out if you can indeed become too frugal. What’s the difference between frugality and being miserly? Is there a danger in being too frugal? Make sure to check out the episode and find out.