Can You Be Too Frugal? Is It Even Possible To Be Too Frugal?

by Hank Coleman

Can you be too frugal?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?

Can You Be Too Frugal?

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.

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More About The “Your Money: Your Choices” Podcast

Roth IRAs, CDs, stocks, insurance, your 401K . . .what are the right choices for your financial future? Your Money: Your Choices will clear out the cobwebs and confusion surrounding these concepts and more with clear and concise information. You’ll hear tips and tools that you can put into action right now to help save your hard earned income in way that will protect your future for a healthy retirement. Whether you are a single mom or a father of five, “Your Money: Your Choices” will get you on track and put your money back in your control where it belongs!

Past Episodes Of “Your Money  Your Choices”

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About Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]

Hank Coleman has written 597 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.

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{ 6 comments… read them below or add one }

Mark Ross

I think one can be too frugal but it would mean that he or she may not enjoy his or her life that much.


Hank Coleman

There is definitely a fine line and a trade off between the two.


Kostas @ Finance Blog Zone

I agree, if one is always concerned with saving a buck, and devoting their time to doing so, when do they get to enjoy life? There are times we need to splurge to enjoy life.



To me, being frugal is making the optimal choice based on all the resources and information available to you. Some people put a higher value on their time vs. others. Everyone places value on their resources differently – hence, I believe that you can never be “too” frugal…


Hank Coleman


You bring up a great point. We all value different things. I find that valuing time and comparing money vs. time is very efficent.


Dylann Andre

There are times when we do need to be frugal and that we have to be wise in spending our money. But I guess, as much as we work hard it is also reasonable enough to enjoy some time without having to think of frugality.


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