Anyone who has ever paid down a significant amount of debt, or having to deal with a massive change in spending because of a job loss or something similar would know exactly what I’m talking about.
People who suffer from debt or frugal fatigue are:
- Tired of saving money
- Tired of seeing your money disappear down a black debt hole!!!
- Tired of seeing how slow everything is improving
- Ready to give up, and go on vacation and spend all their savings
- Ready to go on a shopping binge on a line of credit or credit card
When I was in debt, I was really sick of seeing all of this money disappear.
Yes, I know I was stupid for not having been more frugal during my college years to have taken on a roommate or two, or to scrimp on my spending, so really I’m just paying for past transgressions. I am responsible for the debt, but I was kicking myself in the proverbial butt for not having watched my money sooner and started budgeting or tracking expenses.
Granted, I still had enough money and a little bit extra to cover my basic living expenses and some light spending, but it still doesn’t take the sting out of having to see $2500+ disappear from net income each month that doesn’t go to retirement or savings, but to this big black hell of a debt hole.
I was however, well aware that I was definitely luckier than most, to be able to put $2500+ towards debt each month.
Market Watch did a piece saying that Americans are starting to get frugal fatigue: Read article here, and thanks to Tim of Zia Rider Blog for the emailed link!.
According to an NFCC poll, 66% of respondents are tired of watching every penny, but say they have no other option.
Only 5% of the respondents have decided to begin spending more, while another 8% of the respondents said they have not made changes to their spending habits in recent years.
Then there is the remaining 21%, who acknowledge lifestyle and spending changes and say those moves are both positive and permanent.
….
“America has always been a country of great spenders and lousy savers, and that has only just recently started to change at all,” she added. “The question people are facing now — when things look like they might be getting just a little bit better — is whether they are going back to the same old thing.”
For me, I could never go back to what I was like pre-debt-repayment: spending freely, shopping like a maniac, not caring about savings or my bottom line.
I simply can’t. I’ve learned too much and it is a second nature to me right now.
However, even right now, I don’t think that I am very frugal because I could save more than what I am saving right now.
I could most certainly:
- forego my estimated $10,000 trip to Asia this year
- stop buying so many damn treats (macarons, cadbury eggs, banh mi sandwiches)
- never buy another article of clothing or another necklace ever again
..but money is meant to be spent, not hoarded.
I save more than enough and I want to enjoy what I’ve earned, especially since it isn’t compromising my goals.
Just a girl trying to find a balance between being a Shopaholic and a Saver.
I cleared $60,000 in 18 months earning $65,000 gross/year.
Now I am self-employed, and you can read more about 
I certainly get tired of living on such a small income but when that happens I know it’s time to get out and have a walk at some local beauty spot followed by (gasp!) a cappuccino and a small cake. This doesn’t happen more than every couple of months as I have many interests that don’t cost much.
I think those daily luxuries and treats are really to be savoured 🙂
Debt fatigue occurs when someone is overwhelmed by the amount of debt incurred, and a feels that he or she will never be able to pay it off. http://www.paydaycentre.co.uk/
Saving and trying to get out of the debt hole at the same time is definitely frustrating. I trip to my financial planner recently made it even more depressing after doing some math to see what I should be saving every week to put towards retirement at the ripe old age of 25! Yikes. Feels like we'll never get anywhere.
My recent post Did I mention school sucks
Old-style penny pinching works, but can also be frustrating over the long-term. But new and better ways of spending today doesn't only mean going cheap and depriving yourself of quality things. With the rise of social networks, spending today is becoming more about 'finding great deals' and not just cheap alternatives.
There are also social sites like SplitStuff that can help people living in the same community or nearby communities purchase premium items in bulk, like organic food to get them at reduced prices. Different kinds of people are coming up with many great ideas on what stuffs to split and how to reduce expenses.
So if you’re undergoing ‘frugal debt fatigue’ —don’t go back—go forward and dare to try new ideas!
My recent post Local Cooperation Made Easy
I stopped buying all the trendy pieces, and when i do spend money, it's an investment piece that i will have forever. Good quality, while pricier, when done infrequently (and on sale!) it actually saves you money yearly. How many $25 tops did I need from H&M anyway??
I have the same goals, to pay off my debt that is non-school related in the next two years. I've seen the sacrifices over the years of all the things i've had to pass on. Trips to europe with girlfriends, a car (hello bike and train), going out every weekend. But I just try to keep my eye on the prize, and a little sacrifice now, will just make it that much easier when it's all paid off, I actually blog about this too 🙂 I've paid off 1 of 3 cards and now I'm working on the rest and some dental loans. It's gonna be a long year(s), but I think I can do it 🙂
My recent post Talk Derby To Me…
I have seriously changed my silly ways. I haven't bought a latte in, what, 3yrs? Thank you Keurig! The last 2yrs Ive eaten 99.9% of meals from home. Around $300 a month for groceries, and eat breakfast/lunch/dinner for the entire month. I have found my love for a new hobby, cooking!
My recent post Talk Derby To Me…
I'm usually frugal but being a student has made it a necessity, rather than a hobby – plus, the differing levels of money different students get depending on their home situation makes it hard. I deliberately got a lower amount of loan, so I could get more grant (and thus pay less off when I leave) but it means that I don't have as much money as my friends who get extra support from their parents or for disabilities.
And they always want to go out, to the cinema, for a meal, for a take away and don't get it when I forgo the £4.50 Chinese meal for a home made Rice stuffed pitta that cost me £0.79 to make.
I'm tired of other people thinking I'm being cheap when I know I'm literally just surviving.
My recent post Challenge Check-In and Purchase Prohibition
I'm definitely getting sick of paying my debt off. I like the feeling of paying extra, but it still seems like I'm not getting anywhere. I really just want to pay it all off, but I can't get there just yet. Just want it all gone!
But you ARE making progress right? The key is to focus on what you are achieving.
I think I was lucky in a way that the recession hit Scotland just as I started my first real job. Rather than going mad and spending all this money I had never had before, I worked hard to earn as much as I could then used it to quickly pay off my overdraft and put a little nest egg in the bank. If it wasn't for the papers being filled everyday with terrifying statistics and horror stories of people losing their jobs I would probably be very heavily in debt right now and working at a job I hate. Not spending like mad gave me the financial freedom to go abroad. Oh…I almost forgot to thank you for recommending The Millionaire Next Door. I was working on a farm last year and I listened to the audio book while I was picking roselle flowers. Some really good hints there that I will remember and put in place for a long time. I'll remember you when I hit my first million ; ) Siobhan
My recent post CSI Phuket
I've never been good at restrictions.
I need that motivation to keep going and that could be a new dress or a pair of shoes. I don't know about America, but people all around me in England are suffering from frugal fatigue. I blame the onslaught of literature since 2008 – impending financial doom means we all have to tighten our belts and save save save. You can't take a society that spent freely and carelessly (self-included) and insist going cold turkey is the only way. It won't work.
My recent post Risk- Slim vs Real
I don\’t know what it\’s like in America, but in Canada the families I know who lost their jobs or are struggling are having trouble learning how to stay out of stores and to NOT shop as an activity just because things are so tight.
Thanks for letting me know there's a name for how I'm feeling right now! I've been living frugally for just over a month to work towards paying down my debt. So far, it feels just like when I was spending more frivolously, only now I don't have any stuff to show for it… or any savings… it all just gets eaten up by the debt black hole. But I just keep reminding myself that it's really paying itself off, the money is being used wisely, and I know it'll be worth if when it's all paid down!
My recent post Day 42- SPENT
Keep your eyes on the prize Ann 🙂
This is so timely for me! I've been aggressively paying down my school loan debts (have no other debt) and I just got really "blah" about it the last three months. I started to let myself indulge again, and you know what? It did NOT feel satisfying. Actually, it brought back a lot of the anxiety I had when I wasn't managing my money well. Even though I wasn't spending as crazy as before, it made me remember that so much of my spending was to fill some emotional hole. I pulled it together in the last week or two and I feel SO much better. Nothing is more satisfying then being secure and in control of your financial life. In fact, I think I want to pull the reigns in a little tighter and not letting myself be distracted with shopping and excessively going out has made me really focus on those issues that I was trying to cover up with cute shoes 🙂
I think that\’s it. Feeling secure in your spending and your financial security is far better than any THING you could purchase 🙂
Went through my debt fatigue last year. This year I am determined, bordering on obsessive about getting rid of my debt for the last time. Over the last 6 years I've paid off 4 of 5 credit cards, bought and paid for my car, moved 3 times, and had countless raises. I've got one card to go, with a whopper of a debt on it and I'm so jazzed about getting to the last day of this year, and debt free that I'm actually renewing my vigor for life!!
I think the best thing to do when you are in this state is to look at where you've come and reset your steps to getting to your goal – and be a little brutal with yourself. I love that you constantly remind us that we aren't on the journey alone. That many people before us have walked the path, and we only have to keep remembering to take one more step and we'll find those people ahead of us!!
My recent post When You Know Something Is Wrong
Aww you\’re welcome. No one is ever alone in the journey. It isn\’t easy for any of us, and it never will come \”naturally\” to those of us who are not naturally frugal in nature.
I am experiencing frugal fatigue for sure! Between unemployment, health scares and whatever else, I have been surviving with a strict budget. I am trying to figure out how to live and not just survive, but I my main goal for this year is pay off all debt by the end of 2011. Guess I will just go back to counting my pennies until this year is over and celebrate later.
It can be really hard to stay on track when things are wound so tightly. Hang in there!
Yep I'm suffering a bit from frugal fatigue… I've started to get lazy in tracking how much I spend, which leads to more spending of $7 on chocolate covered almonds from bulk barn, which leads to more laziness in tracking how much I spend…
I am a huge saver and frugal by nature [training really], but once in a while I do get a bit fatigued, so, to make myself feel little better I allow a little splurge. Nothing too big–a book, a CD, or something I have been wanting for a while; or even an occasional vacation trip. When I do spend, however, I refuse to feel guilty or bad about it–after all the reason we save is so we can enjoy life.
My recent post The Ultimate Guide to the Daniel Fast- Interview with Kristen Feola and a Giveaway
When people usually think of saving they think of deprivation and no one wants to feel deprived. When I think of saving I think of it as insurance for a rainy day, and because one day I want to retire. IMO the best approach to saving is the balanced approach. I save 30% of each paycheck and the rest is there to spend. I want to get to where I save 50% of my paycheck but I'm not there yet.
I've improved so much. I used to spend because I was lonely and bored, from talking to other people, many women and men spend because its their way of dealing with life's problems. Anyway, I wasn't born a saver, its something that I've learned over time, and I have a high credit score now, in the U.S. a 700 credit score is considered "good" anything over 800 is excellent.
IMO I've had to "practice" saving. I'm not sure if that even makes sense. I've learned to put aside something from each paycheck. Saving is something that I've learned to do through constant habit and practice. In my relationship my bf is the natural saver, lol. It seems that in a lot of relationships there's that one person that likes to save and that one person that likes to spend.
I thought I had the perfect budget for us, we were comfortable and saving well, then a $500 drop in our income every month, which is BIG for a family of 6 already with a lower income… and now i've revamped our budget and there's not really any wiggle room which I hate. We're expecting another income drop in the summer, which is really when i'll be stressed. I guess i'll find out soon enough….
My recent post I’ve been in a funky mood…
I've barely even started my debt journey, but I'm feeling fatigued already!
My recent post Weekly Money Check-Up
I don't really experience fiscal fatigue. For me, the main reason is I have goals. There are things I want to do with my money. I keep my eye on the prize. When I make one goal I set a new one.
My recent post Another Money Saving Thread to Break Down
As a beginner to this kind of lifestyle, I found this article to be pretty humbling. It's good to see that even people who have been at it for years occasionally feel they're on a difficult path. I just hope that the majority of people experience such a better life when they cut back that even if they sway and spend unnecessarily here and there, they mostly stick to the plan.
There is definitely a difference between self-inflicted frugality and just plain forced frugality. I was doing a lot of self-inflicted frugality and was pretty ok because I knew I was working towards something positive. The past couple of months though, have been plain old forced frugality and it's been miserable (major unexpected reduction in income). It's so tight, my debt snowballs have evaporated and I'm scrounging to just make ends meet. This is exhausting, stressful, and difficult to enjoy. I have definitely learned many tricks that I have no problem employing and maintaining as income stabilizes and I really look forward to being tight but knowing I'm destroying my debt in the process. That's a huge motivator I can't enjoy right now.
I am feeling the debt fatigue now, but I really don't want to go back to how I was spending before. I have spend a lot less in Jan. this year compared to Jan. last year. So I'm trying to keep that up. But I do hate that the money is just going down the hole. 😛 blah…..
My recent post Sweet Ideas for Valentines Day
I have been very frugal so far there are a few things coming up like B-days, midlife crises, V-day aka single awareness day that I have spent or will be spending money on but, this is not going to break the bank. I am very proud of myself in being able to "throw" more $$ at at least one student loan that I have outstanding. Once that one is paid off then I will work on the other. I am really wanting to live as debt free as possible right now without acquiring more debt and still being able to save for retirement and my childs college education or if she wants to when she turns 18 blow it all on a trip to Europe or whatever that is her call.
I have been frugal for so long – even if I had bags of money I would not change a thing!
It is fun and challenging at times.
My recent post IGA Grocery Flyer deals starting February 10 to 16- 2011
I have become frugal over the past six months or so. Thus far I can't say I am feeling any fatigue. I know this frugal life style and change will only be better for me down the road. Like your self, I got my self into debt and I am going to get my self out. It's not anyone's fault, but my own. I do however sometimes grow impatient, that I have to wait a little longer, with A LOT of patience of purhcases, such as a new dishwasher now and over the range microwave.
My recent post I’M RICH- NOT WEALHTY
I love you for posting this particular blog post today. I seriously NEEDED to read it. I am in the position you were in–paying WAY too much out a month, trying to pay off my debts. But I'm happy to read this today because I needed to be reminded that there IS a way out and people HAVE done it (YOU!). I've tried to tackle my debt in the past, but honestly, I gave up because I was 'tired of seeing it go into a black hole" — even though I WAS (/am) responsible for it! But over the last year I have become EXTREMELY aware that i will receive true financial freedom once my debts are gone. And I cannot wait!
My recent post february 2011 dreams-goals
<<<So what do you think? Are you experiencing fiscal fatigue right now?>>>
I would love to go out and spend again BUT ~ I've learned much about my emotional state and the reasons why I want to spend so darn much money all the time. Now, I'm fully aware of my triggers. They no longer have any control over me BUT it has taken me a while to get to this place. Over the years, I never saved a cent and I can't even describe what a waste this consumer driven life has been for me. I cannot go back to my old ways, even though I DO miss trawling the shops. To do that now, after realizing that my spending was just a mask for emotional
pain, will mean total failure on my part and that is unacceptable to me. Instead, I plan shopping trips ahead of time and budget for them.
<<<Will those 66% people go back to the way they spent before, because of frugal/debt fatigue?>>>
For the 66% who 'have no other option' but to watch their money, I'm going to assume that many of them will learn to change their personal finance habits. If they have no other option, that must mean that job loss is a factor and money is tight. For those folks, a good portion of the 66% may learn better money management skills out of necessity plus the value of conscious spending. But, there is always going to be a segment who still don't reconcile their actions with their lack of available funds, who keep spending income plus running up credit card debt either based on their 'future selves' or a complete lack of self control. Whichever way they go is going to depend upon how many people within that 66% group have hit the bottom and want to do things differently. Once a person hits that rock bottom state and makes the connection between advertising, the control that corporations have over our everyday lives, emotional triggers and just plain always being BROKE, that's when real change can begin to take hold. Not everyone is going to get to that place at the same time, however, with the caveat that some people will never get there.
My recent post Caffeine Fueled Late Night Musings
I\’m wondering if for the 21%, they see that their frugal habits, or forced frugality if you will, is a blessing, whereas the other 66% don\’t see it as a blessing or a change that forced them to rethink their spending.
Some people can just NOT be frugally minded. I know my mom isn\’t…
I managed to find myself in a bit of debt from being unemployed and some "retail therapy" (that didn't work) for so many different periods. I'm thisclose to paying it off, and yes, I am tired of seeing my money go to pay off my debt. However, I am lucky that I can pay it off and now that I'm not a recent college grad, I'm working on establishing a savings in case that ever happens.
My spending habits have changed for the better, and I can't say that they'll ever go back to what they were. I may ease up on a few things (getting cable TV), but I think my priorities have changed.
My recent post Back to being a TA
I agree that I (and you) were lucky enough to have the money to pay for it.
I\’m really interested to hear that your priorities changed too. Mine did, as well.
I went through general life changes, which were linked financially. I stopped going to clubs, which were expensive (drinks, clothes to go out, the inevitable taxi because of Boston's transit system closing out). My makeup collection was more than adequate, so I stopped buying so much of that. I would impulse buy clothes that I never wore; that has stopped.
For the past few years, I've been looking at really good ways to take care of my skin and hair, using home ingredients or things I can buy in bulk for cheap. I started making my own hand lotions and face creams, using apple cider vinegar as my conditioner, etc. I think I'm healthier and I know I'm saving money. It isn't for everyone, but it works for me.
My recent post Back to being a TA
Luckily, I never had big debt (except for my mortgage). I must be genetically frugal, because I really don't mind. In fact, I feel that I live a luxurious life as is.
My recent post Why Americans Cant Save
You really must have a frugal mindset. I was not born with one, unfortunately.
I'd say I'm wobbly right now. I'm not full out fiscal fatigued, but I'm not comfortable with things right now either. I'm hoping that the 66% doesn't go back to the way they were before, but I'd bet a good chunk will. Hopefully they try again one day though, and we'll get a few more every time 🙂
I'm thinking my massage (insurance reimbursible), a 1/2 price chai latte (W00T!), and free tickets to the hockey game this weekend should kick the frugal fatigue to the curb this weekend and I'll be right back on track 🙂 *fingers crossed*
My recent post Epic Impact Day
So a little spending to grease the wheel? 🙂
Providing insurance covers all of the massage, I'll only have to chip in $2.50 or so to get the wheel greased 🙂 It just has to keep turning.
My recent post Epic Impact Day
Perfect picture with this post.
My recent post Valentines Day- Seaside Heights Edition
I know eh? I saw that pic and thought: OMG. It\’s the one!
We're pretty frugal and are not experiencing fatigue at the moment. We went on international trips and had fun in previous years so we don't hoard every penny. This year we have another big event which will cause us to stay home, but it's all good. It'll be a lot of fun.
Your 10k trip will be so much fun. That's what life is all about.
My recent post Reduce Health Care Cost By Providing Better Care
But what if you couldn\’t go on trips? I think people in that situation where it is so tight they can\’t spend ANYTHING, are the ones who are in frugal fatigue.
I was like that when I was in debt. I couldn\’t let myself waste even a penny…
Yeah, that would suck if you can't even waste a penny….
🙁
My recent post Reduce Health Care Cost By Providing Better Care
I wish more people would talk about this! I find penny-pinching to be extremely disheartening and even depressing, and I get tired of it very fast. I don't think it's a fun challenge, the way it's often presented in frugality/debt-reduction blogs. More posts on how to deal with this fatigue would be awesome.
The only way to combat frugal fatigue is probably to change your actual mindset and priorities, and to not be so tight.
Oh boy – I'm definitely struggling with debt fatigue! We're not about to spend all of our savings (unless I get the job across the country, and we need to use some savings for moving expenses), but it is tough keeping up morale. We were making awesome progress last year, paying down student loans and saving lots in our emergency fund. But the end of the year really threw us for a loop.
We haven't looked at the budget in a few months, which makes me feel really guilty and it makes my husband irritable. We've got a 'meeting' set up for this weekend to go over it, but we aren't really looking forward to it. I know we've spent some money we should have saved, and we've each gotten a few small bank fees we could have avoided.
But I am really close to paying off my smallest student loan! Only $400 more to go, and then I can roll that monthly payment into my other loans. I think seeing progress like that will be the jolt I need to get back on the wagon!
My recent post Priorities
Can you do a Google Docs thing and set up an excel budget to share between you two?
I want to be an optimist and say it looks like people are changing for the better. I'm forcing a self-enforced penny-pinching frugality. I want to challenge myself to save as much as possible. What I miss the most is eating out more frequently. It's my favorite treat…and damn, it adds up quickly!
Maybe I'll find a way to squeeze it in somehow…cut other things.
My recent post The Pilgrimage to IKEA- Retailer of Legend
Forcing a self-enforced frugality prison 🙂 I did that once or twice, but doing it consistently for a year is quite hard.