Tuesday, August 10, 2010

Frugality Will Not Make You Rich

Can frugality make you rich? The time-tested art of frugality, or saving money by cutting all obvious corners, can certainly help anyone experiencing a personal economic crisis, but hyper-frugality is carrying frugality to an extreme that is almost laughable.

If you find yourself saving used pieces of tin foil after you used them in your oven, or you have a nasty habit of buying the unhealthiest food you can possibly find just because it's cheap, then you are practicing the dangerous art of hyper-frugality, and hyper-frugality is carrying frugality to the extreme.

Can hyper-frugality make you rich? By the example many wealthy people give, you would think this to be the case. However, the fact of the matter is that even though hyper-frugality will enable you to save more money each month, being hyper-frugal will definitely not make you rich.

Investing in stocks or mutual funds might help you to get rich, but if you don't invest wisely, you could literally lose every single penny you currently own. Don't invest any money you can't afford to lose. If you can afford to lose some money, do your research before investing any of your hard earned dollars.

If you learn the knack of buying low and selling high, and you are capable of not going into an emotional selling frenzy every time the stock market goes down, you actually could become a successful investor, and add extra money to your savings account.

Although many people seek financial wealth, being wealthy is not necessarily the most wonderful thing that can happen to a person. For some people, having too much money becomes an almost unbearable burden. Philanthropists enjoy giving money away, and this act of unselfish kindness is to the benefit of all lucky recipients.

It is far better to count your blessings instead of money. Blessings are free gifts from God, don't cost a cent, and help to make a person's life, both inner and outer, richer in the truest sense of the word.

My Related Awarded Answers on WebAnswers:

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...

Enter your email address:

Delivered by FeedBurner