Comments on: How Being A Pessimist Saves You Money

By: Francois levesque

Francois levesque — Thu, 14 Jan 2010 19:37:25 +0000

I am a pessimist because i am scared of Poverty ..i question everything i buy. and i live on very little . I’ve been retired since 2002 and have 135,000. $ in savings and 185,000.$ in an annuity my early pension is only 1270..$ a month and i manage to save 450.$ a month and i do not work All because i am a Pessimist Person Thats all
Thanks

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Tue, 01 Sep 2009 19:11:22 +0000

I think being a pessimist is definately an advantage for the frugal. It’s only when you can evision things not working out that you can walk away from buying something with confidence in your convictions. The optimist thinks everything will work out in the end and may be tempted to buy something he really can’t afford.

Neither optimist or pessimist have a full grasp of reality, but the pessimist is in a better defensive position for the many times things don’t go according to plan.

By: Jack @ Master Your Card

Jack @ Master Your Card — Tue, 01 Sep 2009 19:06:35 +0000

That’s exactly how I operate. I never took the time to budget because, I think if I knew how much I could actually afford, I might spend it. Instead, I give myself an ulcer whenever I spend a single cent. I once had a conversation with a friend:

“…I bought these thinking they’d be a cheap alternative to Ramen Noodles, but they were disgusting…”
“Dude…Ramen IS the cheap alternative.”

I think if I had a realistic outlook, I wouldn’t save nearly as much.

By: centsandthecity

centsandthecity — Tue, 01 Sep 2009 17:48:53 +0000

It definitely is true. My husband and I wanted to take a trip to Ireland this summer, but we were absolutely convinced that we were going to lose our jobs so we saved instead. It definitely saved us a lot of money, but now that our jobs are a lot safer, I kind of wish we could have taken the trip.

By: Patrick

Patrick — Tue, 01 Sep 2009 13:11:16 +0000

I am also a pessimist when it comes to buying things. It’s really strange considering I am an optimist in everything else in my life. It doesn’t always feel great to feel that remorse after you spend a lot of money, especially on something I didn’t really need.

Great advice on how to move that pessimism to before you buy something. You can really save tons of money on things you don’t need.

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Tue, 01 Sep 2009 12:29:18 +0000

Great post!

I’m with Stella– Be skeptical.

I have posted repeatedly on thinking before buying . . .

Here is the latest: Just Say No!
http://divorceddadfrugaldad.com/2009/08/27/just-say-no.aspx

By: MoneyEnergy

MoneyEnergy — Tue, 01 Sep 2009 07:20:56 +0000

Well, in terms of investing, look at all the bears! If you have a bearish (i.e., pessimistic) outlook on economic and/or market prospects, you might be inclined to save more money and invest in more conservative vehicles. You will definitely not risk your money on speculative stocks which might never come through for you. So it could save your money here by not squandering it in the wrong stocks, and would prevent you from jumping on any panic buying bandwagon!:)

By: Emily @ Under$1000PerMonth

Emily @ Under$1000PerMonth — Tue, 01 Sep 2009 00:10:02 +0000

I wish I got buyer’s remorse before I bought! Thinking of pessimists I know, they do spend less money. But I think of them as being more miserly than frugal. Frugal people seem to delight in their frugality.

By: Stella

Stella — Mon, 31 Aug 2009 20:37:05 +0000

Great post. I posted something similar a while back–only instead of “pessimist” it was “How Being a SKEPTIC Can Save you Money”-the jist being if it seems too good to be true, it probably is.

By: Debt Kid

Debt Kid — Mon, 31 Aug 2009 19:32:53 +0000

I’m definitely a pessimist when it comes to purchases! For me it’s thinking about buying a house. For some reason I have this strange desire to purchase a home, but then I just remind myself:
- I don’t have great credit
- I don’t have a large downpayment
- I can get a rental with 2x the square footage

Being a pessimist helps keep my unreasonable desires in check.

By: Foxie@CarsxGirl

Foxie@CarsxGirl — Mon, 31 Aug 2009 18:55:33 +0000

I identify with the first one a lot — I agonize so much over some purchases that I just never make them! Sadly, this applies to things that I really *should* just get over with anyhow, like my textbooks (rushing to try and get them now for cheap, ugh) and the next tattoo I’d like to get. (Tattoos aren’t cheap and a lot of money to part with at once… So I agonize over spending the money though I love the final result.)

Can’t imagine buying a convertible, I own two. One’s got a hardtop, though, and the other will end up with one eventually. They just aren’t always fun. You get tired of messing with it (mine’s a manual top) and somedays it is just too HOT to drive with the top down. Can’t say $4 gas was ever a problem, both of my convertible sports cars can easily get 30 MPG and cost less to fill up than one SUV. That was regular gas for one and premium for the other, too.

And for car people, a lot of snap judgements are made based on the car someone drives. If you care, then it shows… Not always in a good way. (Ex. Ricers.)

I know the point that was being made, but I always have to add that it isn’t *always* that way. I’m sure if you want a mid-life crisis car, a $2.5k Miata would do very nicely. Or a $23k Viper if you’re expensive like that.

By: Carla

Carla — Mon, 31 Aug 2009 18:25:43 +0000

I don’t see your examples as pessimism, you’re just being realistic and actually thinking though your decisions.

Definition of pessimism: “1 an inclination to emphasize adverse aspects, conditions, and possibilities or to expect the worst possible outcome”

To me, that’s no way to live.

By: Daniel

Daniel — Mon, 31 Aug 2009 17:26:37 +0000

On a related, pessimistic note: For about two years now, I have been convinced that I was soon to be laid off from work. This has greatly motivated me to stash away savings like never before.

Sure, I probably have an ulcer from worrying so much – but hey, I got my emergency fund built up nicely!!