When it comes to money management, most people live like Gollum in The Lord of the Rings. They cower in a shabby trailer, shrilling about “my preciou… - M.J. DeMarco

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When it comes to money management, most people live like Gollum in The Lord of the Rings. They cower in a shabby trailer, shrilling about “my precious” and how it must be guarded with dear life. Such is the existence of someone consumed by the frugality scam — the belief that obsessive expense reduction, penny-pinching, and experiential deprivation will someday pay off in the opposite: rich life experiences, freedom, and abundance. The frugality scam is like chopping off your head and bragging you’ll never suffer migraines again.