Episode 411: The Hidden Cost of Over-Saving: When Saving Too Much Holds You Back

In this week’s episode of the Journey to Launch podcast, I’m exploring the concept of “over-saving” and its potential to hinder financial growth and life enjoyment. You’ll hear about my personal journey of saving, a habit deeply instilled in me by my family, and how it has enabled me to achieve significant milestones throughout my life. However, I also mention how an overemphasis on saving, driven by fear or outdated goals, can prevent you from taking risks, making investments, and enjoying your money. I encourage you to understand your “enough point”—the amount needed to sustain a comfortable lifestyle—and align your saving and spending habits with your evolving financial goals.

In this episode, I share:

• The importance of balancing saving with spending, and how to reflect on whether your saving habits are holding you back from opportunities and personal growth. 
• The concept of the “enough point,” the income and savings level needed to sustain a desired lifestyle, and how to align your financial goals with this benchmark.
• How to reframe viewing money as a tool to achieve financial goals, how to intentionally spend and invest in personal growth, happiness, and financial freedom.
• How to differentiate smart saving from over-saving and the need for intentional saving aligned with current goals and values + more!

Other Links Mentioned in episode:

• Get your copy of my book: Your Journey To Financial Freedom!
• Join The Weekly Newsletter List to get updates, deals & more!
• Leave Your Journey To Financial Freedom a review!
• Get The Budget Bootcamp
• Check out my personal website here.
• Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• YNAB –  Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.
• What stage of the financial journey are you on? Are you working on financial stability or work flexibility? Find out with this free assessment and get a curated list of the 10 next best episodes for you to listen to depending on your stage. Check it out here!

Connect with me:

• Instagram: @Journeytolaunch
• Twitter: @JourneyToLaunch
• Facebook: @Journey To Launch
• Join the Private Facebook Group
• Join the Waitlist for My FI Course
• Get The Free Jumpstart Guide