The Cost of Saving Money

the cost of saving moneyI love saving money. Ask my wife, she’d be the first to tell you. She thinks I’m a tightwad and that I wrote the book on skinning a flint. I like to think she is maybe a bit facetious. Maybe.

But then again, I am mature enough to see the grain of truth in such statements (even if they are larger than I would like). And so I’ve been thinking about the ways in which saving money may cost us more than we gain. So here are 3 ways I’ve seen saving money cost people more than they saved.

The corrosion of Inflation

Your mattress is a bad place to stash your savings. Not just because someone may grab it when you aren’t looking, but because the effect of inflation will

...

[Continue Reading at SavingAdvice.com]

This entry was posted in Personal Finance, Saving Money and tagged , , . Bookmark the permalink.

2 Responses to The Cost of Saving Money

  1. Jeremy Day says:

    Hi Joe,

    I have to agree. Have a small emergency fund of 1 to 3 months expenses in cash and invest the rest for the long term. Have a system like saving 10% off the top and just enjoy your life. Life is too short to worry too much about money issues.

    Jeremy

  2. Carol says:

    Good article. I want to make wise saving decisions without having to resort to making my own baby wipes or laundry soap like some of thes frugalite web sites preach. Balance is the key, not feeling guilty or agonizing over every purchase. And no, I’m not a free-spending credit card junkie either.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>