Why Saving Money Is Bad? And What You Should Do Instead

Want to know why saving money is bad? Keep reading. While in some cases saving money can be a good thing, in most, you actually need to take a different approach to make the most of your money.

In this article we will outline some important money habits we feel will serve you much better than traditional advice.

It is always better to have the most of the present rather than worrying about the times that are still to come.

It is foolish of people to put their entire being under the constant stress of saving and hoarding money for their future needs that further are just hypothetically created and can drastically vary when real-time comes. 

Saving money is a good practice only when you do not have to spoil your today by unnecessarily cutting down on the money you would have otherwise spent on things you like to do.

If saving money is asking you to give up on your interests or your hobbies for the sake of a secure future, you must understand that it is a bad idea and not fall into the trap. 

Disadvantages Of Saving Money

Following are a few reasons why we consider why saving money is bad idea:

It Can Ruin Your Mental Peace

Being constantly worried about having enough money to deposit in your savings account and not always meeting the amount can bring a lot of mental stress to you that is not good for your mental well-being. 

It is not worth your time and energy if it costs you your peace of mind and sanity because the entire family suffers if even one of the members is not doing well mentally.

The children get affected, and the husband/wife also has to suffer. They should never be your cost of securing the future because it is mainly for them that you are doing this, and so if it is not bringing them contentment and peace, then there is no point because nothing is more important than you and your close associates.

Therefore, it is always better to prioritize your well-being and that of your family over an unseen future problem which you might not even have to face.

It Can Also Affect You Physically

Countless people are driven by their madness of saving a few dollars and often overlook their selves so much so that they miss out on their appointments with doctors and avoid spending on their medicines only so they can save enough.

This habit can be dangerous for your physical health if you have it developed in yourself. 

This is because if you harm your physical health, your savings will consequently bring no advantage to you.

They might get ‘wasted’ on your treatments and medicines that you have previously avoided.  

You Tend To Make Wrong Decisions 

When you’re entirely focused on your future and gathering money for the problems or expenses you might have to face in the coming times, you will likely make poor decisions that will directly or indirectly affect your present situation. 

You will settle down for a low-quality dress, agree to hire unskilled housekeeping, buy a second-hand appliance with no warranty, or miss your regular checkups.

This is only because all of these things will demand less money to be spent from your pocket, and this is exactly what you want to save.

All these things will eventually wear out, and your money will go in vain, bringing you more frustration and hardly anything at the end of the month in the name of savings that you have been working so hard for.

You Give Up On Things You Would Have Had The Most Fun In

Who in this world would not like to travel across the globe and discover the dynamic differences in sceneries, cultures, languages, people, and food? Nobody.

However, you might have to miss out on all these fantastic beauties of life just because you aim to do all of this in the future with a larger amount of money. 

Probably the biggest disadvantage of saving money is that you consciously or subconsciously give up on things you would have enjoyed the most just because you do not want to overspend your money.

You will not try the newly launched burger at the restaurant even though it will have your favorite sauces because it will also be the most expensive one.

Even if you could afford it, it may decrease the amount you will save by the end of the month because it is nothing but sheer foolishness. 

Saving Accounts Can Turn Out To Be Very Cruel

It is the saving accounts that you are most likely to fall prey to for keeping your savings in because although these accounts appear to be life-saving, they can be brutal in your pocket when it comes to depositing your hard-earned money.

First of all, saving accounts mostly have a minimum amount fixed that they want you to deposit compulsorily.

It can vary from bank to bank. You may have only half of it, and then collecting the other half of it can be very frustrating and unappealing.

You might have to ask a friend of yours for the rest of the money. To get into debt only to save for the future is as irresponsible as it can be.

Amidst saving money for your future needs, you will also have to separate an amount of it to pay your debts, equivalent to adding more burdens on your almost-falling pocket. 

Secondly, in most cases, saving accounts have a low-interest rate, which means that your money will not get doubled or tripled even if it is kept there for years.

This makes it somewhat useless to save money in accounts, and so it is rather better to spend it simply when you can or when you are want to do something that you usually do not do. 

You will obviously want the right bank for your savings account. The rule is that the better the bank, the stricter their policies.

There is an excellent chance that the bank will charge you a fee for your savings account in the name of maintaining it that another burden on your already burdened pocket.

Moreover, money in saving accounts is easily accessible, so it will be very human if you just get tempted by it and withdraw it before time.

This will eventually make you lose the entire purpose of saving, and all your self-control, mental stress, and the constant struggle of collecting money will go down in vain. 

Lastly, what if your account gets hacked? Although the bank will most probably help you retrieve the information and the money you have deposited, what if you fail to get your hands back at it? It is again a hassle that can be avoided if you do not go for saving money. 

Saving Does Not Necessarily Make You Rich

Many people out there save only to become wealthy and rich in the future but end up getting shocked and disappointed.

It is to burst your bubble but saving money in no way guarantees you a wealthy future, but it potentially robs you of a peaceful present as well.

Because of a low-interest rate in banks for saving accounts, your wealth remains the same because even if you can save a good amount, that eventually gets spent if you face some major expense.

Therefore, if you are saving only to become cash-rich, you should immediately stop because you would not want to become that ‘rich’ man who just had all the money there in his account but never really got a chance to spend it. 

What Can Be A Good Alternative To Saving Money?

To secure your future financially, saving is not the only option you have.

There are several different and better ways you can opt-in to have enough money there at the time when you will need it the most without affecting yourself or causing you any negative energy. 

Following are two of the easiest ways you must adopt to make your future a little less uncertain and a lot more stable:

Invest in properties and shares

Making investments is, by far, the most fruitful way of making your future secure financially.

By investing in the right properties and shares, you can allocate a fair amount of money for your expected or unforeseen expenditures all at once without feeling the need to constantly be in the worry of saving some amount on a daily or monthly basis. 

Although the value of shares and properties can also go in a loss. It is meant to go up as well, so if you are well aware of the ongoing business trends, the negative ones will not bother you because you will be able to sell your investment when the trends become positive. 

If you are worried about the coincidence of the time of your need and the negative trends, it is advised that you invest in varying things so that if one of them is in loss, the others are not and so you can sell them when you require some money. 

Therefore, everyone needs to have a basic knowledge of shares, properties, and business trends because investing is surely the best alternative to saving money.

Invest in yourself 

It is not hidden how you affect yourself by overindulging in the practice of saving money.

You overlook your mental and physical health; you miss unique experiences in life and worry yourself needlessly, all for something that still doesn’t promise you a better tomorrow. 

It is always a lot better if you choose to invest in yourself rather than uncertain things.

If you live in the moment and enjoy most of the passing time, you will emerge out as a strong-willed person who will overcome any obstacle life is planning to throw at.

If you experience different lives by traveling when you can, you will learn a thousand different perspectives and ways of looking at any possible problem you might have to face in your future times. 

If you choose the best for yourself and have a stable mental and physical being, you will battle any level of problem or crisis.

However, if you will show negligence towards yourself, no amount of money will help you in the times of need, and you will only be left regretting over the time that has gone by and will never come back.


Everything in this world comes with its pros and cons, so does the idea of saving money.

It is not entirely a bad idea to save a few dollars out of your monthly income because there are several examples of people who have done wonders with the amount of money, they were able to save. 

However, it is not wholly the intention of saving money that made them do wonders and their circumstances that supported which is an uncertain factor that cannot be promised to every person. This is a fact that cannot be averted no matter what we do.

Therefore, you should only save money when you are financially stable and easily separate a good sum of money from your salary without feeling the pressure of completely giving up on your social life, health, family, or basic needs.

Even if it brings you or your family the slightest bit of discomfort, you should immediately give up on it and prefer going with the flow because nothing is as important as you and your present.

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