Dave Ramsey Explains When Frugality Goes Too Far: 'This Is An Emotional And Spiritual Issue'

Dave Ramsey normally advocates for keeping a tight budget and minimizing expenses. It's the foundation of any financial success story since you will have more money to invest. However, Ramsey sometimes hears from callers who take their frugality a bit too far. You can see how one of those calls went in this "Ramsey Show" video.

Ramsey spoke with a 62-year-old woman who said her 64-year-old husband is too frugal. She explained that he is a portfolio manager who manages about half a billion dollars for various clients. 

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They have plenty of money, but every time the husband goes home, he immediately turns off the lights. The husband also says the wife isn't allowed to buy avocados since there was an incident where one of the avocados went bad. That's pretty common. While the hope is that you eat all food before it expires, sometimes it will expire. However, the husband turned this minor incident into an avocado ban.

Ramsey shared some advice and gave the 62-year-old some thoughts to consider.

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Thermostat Wars Are Common

The caller also mentioned that he turns down the heat to 65 degrees every night to the point where she is cold and can see her breath. Ramsey said that thermostat wars are normal in every marriage, so there may be some disagreements about how each person wants to manage the temperature, finances, and other details.

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However, Ramsey also stated that other parts are not normal. Unplugging everything each night may seem like one of those things. While you can technically save some money by unplugging everything and turning off the lights, it's not a life-changing amount. 

You're not getting much of an ROI from this inconvenience. Turning off the lights and unplugging everything in the evening is a desperate measure that you would only see if a family was struggling to stay afloat. It's a bit over the top to see a portfolio manager who's on top of half a billion dollars taking these measures.

The Husband's Upbringing

Our parents and environment play a role in how we think about money. At some point, the husband's upbringing came up, as Ramsey and his co-host tried to gauge why the husband is set on intense frugality.

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The caller explained that his father was wealthy, but the mother was very frugal. The husband ended up gravitating toward his mother's money habits. While Ramsey has offered guidance to many of his callers, he wasn't sure how much he could help in this case.

"This is an emotional and spiritual issue," the financial guru stated.

While the intense frugality is a bit too much, it has translated into the house and cars being fully paid off. The husband has done a lot to provide for his family, but loosening some of his money habits can lead to a better quality of life. Frugality is healthy, but only in moderation.

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