The way the current economic climate is I wouldn’t say this is necessarily a bad mentality. And of course it’s completely understandable!

At my previous job my boss was relatively young with two grown kids who she raised for most of their lives on her own with just a bar job as income (their father was abusive so she left and never had any contact after leaving). Now she has a partner with a good job and she earns a fair amount herself with no one else to support now, yet she says she can barely bring herself to spend money getting her hair done due to years of penny pinchy for the children.

But that’s her, for you things could be completely different, only time will tell really.It does pass, with time., doesn’t mean you become reckless with your money though. Use gift aid for your charity contributions – gives them more and doesn’t cost you more!

Just ask yourself before you buy something ‘do I really need this?’

Get yourself a credit card! No it’s not bad advice just a way of being able to get yourself a better credit score quicker, so if for example your fridge dies and you need a new one but don’t have the cash – you can, just make sure you pay off full amount.

You are not a penny pincher, you are a debt survivor, who won’t be going down that road again.

Be proud of what you have achieved but don’t be frightened to live. Get an evening job (pub?) then you get paid for going out and a social life too!What will pass is your fear of getting into debt. As your savings continue to mount, you will become more assured that you are able to manage, and you might even be tempted to spend a little on yourself. You are absolutely right not to buy needless stuff – in fact you are right up to date. Being frugal is the "in" thing. Far better than splashing the cash just for show.Being frugal isn’t a bad thing. Don’t be ashamed of being a penny-pincher. Being out of debt is the equivalence of being free as any borrower is always a slave to the lender. Like the old saying, it’s better to be safe than sorry.

 

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