I moved to Europe four years ago, got a master degree and then started full time job here almost two years ago. I used to live in a village where spending €100 is enough, and my income was more or less stable.
I've been supporting my parents since 2015-2016 and did the same when I was studying here with a scholarship. I'm still supporting them monthly.
I live in major city and my expenses are getting higher every year because of inflation. I keep my lifestyle more or less the same like back home. The only difference is that I travel abroad more cos someone here said they would rather enjoy life now too.
I checked my finance and last year, in average I saved 50-60% of my income. I invested them all after my basic neccesity and sending money back home.
However, I still feel like I spend a lot cos I live in Europe and I don't know how to not freak out about next year's expenses if I don't get salary increase. Here, things run differently where inflation happens almost in every aspects of life. Back home, a lot of things could be cut and maintained if I didn't earn a lot.
Then I go to YouTube and see people only save 10-20% of their income and I feel relieved. I want to enjoy life while keep my sanity in check about my frugal living. I honestly feel like I don't have frugal lifestyle anymore because of the expensive things I need to purchase all the time here 🥲
I live in shared room, I don't have gym or entertainment subscription I go on walk and do home gym, I go to cafe once a week maybe but take benefit of cheap lunch at the office, I ordered UberEats like ONCE a year or never, I cook most of the time or eat out once awhile with friends. I don't like shopping, I don't buy branded stuff even if I can, but I also purchase good skincare products a lot. No debt, no student loan.
My major expenses are usually rent, health insurance, parents/sending money back home and grocery. Tell me am insane to think I'm not frugal enough?
How do I balance out my frugal living?
byu/utopiatrip inFrugal
Posted by utopiatrip
3 Comments
Dude, live a little. You are saving more than anyone I have ever heard of saving, and you are not living at all.
You should save to live and not live to save.
Dude this sounds more like anxiety / need of control then an actual financial problem. You are worrying a lot in spite of being financially in a good place, and you seem to fixate about being “frugal enough” as an abstract goal.
Most people aren’t even saving 5%, YouTube is showing a skewed picture.
So why do you actually want to be frugal? What do you want to save the money for?
What are the beliefs about frugality that you have inherited from your parents?
What do you want your life to look like? What are your values? Does your life look like you want it to? If you are really happy living a simple life and your dream would be living very simply, then it’s ok. But if you feel like you are restricting your life and not allowing yourself things, it’s time to examine that.
There are lots of things to experience and do when you are young and living in Europe. You’ll regret it if you don’t experience anything of that.
For example I want to spend time and make great memories with my family and friends, and spending money on this makes my life better. I know from experience that people don’t stick around forever, and even health doesn’t last forever, so I prioritise this right now.
Your savings rate has more to do with your financial security than your earnings rate. People don’t like to hear that because it brings personal accountability back into the mix, but it is true, and you are killing it!
What country are your parents in? Are they still in the village?