We covered financial problems already, with the root cause for most being that they spend way to much. Debt, budget issues and over spending are problems for many people. Yet some rare people fall into the opposite spectrum. If you have ever been called cheap, a spend thrift or miserly this advice is for you. I must admit I am guilty of this at times myself.

Saving money is a good thing, and I teach people to save as much as they can. There is however such a thing as going overboard. Some people over save to the point that they are not living life anymore, to concerned with banking away every dollar. It can even become harmful to yourself or your family. So while many people do not save enough, there are some who save way to much to the point of starving themselves in some key areas of life. Below are signs that you may be saving to much and that it may be time to rethink your savings strategy.

You Lack Health Insurance:

You only have one life and your health is important. if you do not have health insurance you could lose more money than what you are trying to save by avoiding buying health insurance. In a world where even a routine surgery can cost upwards of 35 grand yes you need health insurance. If you do not get health insurance you also stand the risk of paying a penalty under the Affordable Care Act in which you may have to pay 2% of your household income (above the tax-filing threshold) or $325 per person whichever is higher.

You do not have a social life or have any fun and or hobbies

If you are the type that sits home day in and day out with nothing more than basic cable and your idea of a big night is watching re-runs of the Golden Girls over a fine gourmet dinner of Ramen Noodle soup you might be spending too little. You might be better of mentally by getting out and blowing off some steam or socializing now and then. You do not have to break the bank to go out for a night on the town with friends or loved ones.

Unfinished DIY ( Do It Yourself) Projects:

Have you started several projects around the house that remain unfinished or turned out not as expected or did the job end up poor quality because while you lacked the needed trade skills to perform the project to par you decided to try and save a few bucks by going it alone? You might save money in these cases but it will eat your time and time is money, not only that but the results are likely to be sub-par. To get big projects done right you have to pay for an expert sometimes.

When is the last time you bought your spouse a gift or a night out?
Just because you are married does not mean you get a get out of jail free card when it comes to doing the things we did when we were courting our spouse. Being cheap and miserly can effect your marriage and wedded bliss. If you haven’t taken your spouse out for a nice dinner or bought your spouse a gift “just because” in a long time now is your chance to break the spend-thrift habit and break out your wallet and get your significant other half something nice, be it flowers or a night out together.

Kyle writes for InstallmentLoansLender where he covers all topics on consumer lending, debt and credit. If you would like to ask a question or pose a topic for discuss feel free to contact us online.

5 Sure Signs You Are Trying To Save Too Much Money