There is a difference between frugal and cheap! Saving money today is not good if it costs you far more down the road. "Penny wise, pound foolish" is a wise adage. The other thing to consider is the time value of money. That means if you don't take into account the impact of inflation and the depreciation of assets, you could lose money faster than you think.

The great thing about having money is the options it gives you. Remember the adage 'Cash is king'?

Sometimes the cheapest thing you buy is not the best value. Sometimes it is. It is fun and important to 'treat yourself' to the better things in life. Unfortunately, many people have a hard time not 'keeping up with the Joneses.

Balance is the key. Don't be a spendaholic or a saveaholic. 

Get a solid retirement plan in place so that even if you spend too much along the way, you won't spend your retirement years unhappy. 

Remember, it is difficult to get a loan for your retirement years!