The Dark Side of Saving: 4 Signs You’ve Gone Too Far
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 23 May 2025
⏱️ 32 minutes
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| 0:00.0 | Four signs that you're on the dark side of money and saving too much. |
| 0:09.0 | Brian, I am so excited to talk about this because we love talking about saving and we love talking about building wealth. |
| 0:16.6 | And we love people that have aggressive savings rates. |
| 0:20.3 | But I do think this is one of those times, one of those scenarios where perhaps potentially |
| 0:24.6 | you can have too much of a good thing. |
| 0:27.2 | Well, let's set a baseline for everybody. |
| 0:30.0 | Our, you know, a lot of our content is based on the financial order of operations. |
| 0:34.3 | And we tell people the goal of what we want you to be saving is 20 to 25% of your |
| 0:40.1 | gross income. However, we know a lot of you are out there. And look, I want you to be a financial |
| 0:47.6 | mutant. That's the healthy side of things. But there's a lot of you that are on that dark side, |
| 0:52.5 | that financial miser. |
| 0:57.5 | Let's hear it again. Do it again. |
| 0:59.6 | I don't know if I nailed the respirator perfectly. |
| 1:01.8 | For all those out there in podcast world, you just nailed that. |
| 1:05.3 | Now, look, don't hear us wrong. |
| 1:06.7 | Saving is not inherently bad. |
| 1:09.3 | It's not a negative thing. And we espouse saving over 25 or saving |
| 1:14.6 | 25% of your gross income. But when you do it and when there are things in your life that begin to |
| 1:22.0 | fall apart and when it takes hold of you, that's where you are no longer a financial mutant, you might be becoming, |
| 1:30.5 | might be becoming a financial miser. And that's what we don't want. Well, look, I mean, |
| 1:34.6 | we see this, there's all kind of shades of what happens in personal finance. How often do we see |
| 1:40.0 | people who start paying off debt? They pay off the high interest credit card debt. And then they |
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