Is being frugal really such a bad thing?

August 18, 2026 — 3:55pm

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Your recent column stopped me in my tracks. You suggest that an “attachment to frugality” can limit your financial growth, and propose gradually increasing your capacity to spend, with the goal of “find[ing] yourself more inspired to want to create more wealth”. Huh? Might I ask you to have another think about your proposition? The experience of Warren Buffett suggests the nexus between frugality and limited financial growth is not fixed. If someone is content with their frugal lifestyle, why upend this?

First, a correction: I suggested increasing one’s capacity to enjoy spending money. I’m not saying to spend more – I’m saying to enjoy spending more. You can spend $100, happily or unhappily. For those attached to frugality, every expense hurts. This is what I was addressing.

Second, you are correct. If someone is content with their frugal lifestyle, and has no desire to change this, there’s no need to upend anything. I was not writing for that person. I was writing for the person who wants to continue to pursue more financial growth.

Now, I don’t know Warren Buffett, but I have coached multimillionaires who are wealthy on paper and still feel constrained, anxious, scared to spend, or unable to experience the level of enjoyment and freedom you truly........

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