The Simple Dollar: Frugality and Long-Term Financial Success - The Simple Dollar (via Lifehacker) I started to find myself disagreeing with the author, but then he summarised it as follows: "one of my key principles of personal finance: It doesn’t matter whether you’re making $10,000 or $100,000 or $1 million a year, spending money on something that provides no life value to you or that you don’t really care about is still a waste of money." That kind of makes sense I guess. Spending money on meaningless things or on things which cost you more than they should is not going to help you find more money to invest or fund your investment holdings. However, I do think in many of these "frugal" blogs, there is a factor of diminishing returns which rarely gets covered. You have to put a dollar value on your time and balance your quest for buying cheaper against the cost of going for the more convenient option. It's all well and good saving $5 on cheaper soap if it's just a matter of choosing a different product to put in your shopping basket, but if you have to drive to a different shopping centre just so you can save that money, you're probably not saving anything at all. Similarly, if you were to spend your time hunting for your next investment instead of hunting for a few dollars worth of saving, you'll probably end up far better off in the long run. I think it all comes down to balance - choosing the frugal option when it makes sense, but focus on an abundance mindset - spend your time seeking to increase your wealth instead of only ever trying to save a dollar.