Financial Security For Dummies

Chapter 15

Ten Ways to Address Over-Saving

IN THIS CHAPTER

Looking at what over-saving means

Allowing yourself to spend

Yes, it’s true: Over-saving is possible. Some people, in fact often the best savers, get hooked on amassing more and more money and have trouble enjoying and using their money. Super savers and money amassers generally equate more money with more financial security.

If you don’t have this problem of over-saving, and you think that this is like hearing about someone complaining that they have too much caviar, please consider reading on — you may have loved ones, friends, or other contacts who suffer from this problematic issue!

This chapter can help you address and temper this mindset.

Understanding the Over-Saver Mindset

Just as some people think that their financial problems would be solved if only they could earn a higher income, over-savers typically believe that if they could reach a greater level of assets, they’d be more relaxed and could do what they really want with their lives. The bar, however, continually gets raised, and the level of “enough” is rarely attained. For this reason, some of the best savers and money accumulators also have the most difficulty spending money, even in retirement.

Some super savers have insecurities relating to money. Specifically, ...