Growing your savings is an empowering process. All that hard work is finally paying off and your personal growth is starting to show real results. But saving too much can actually be a bad thing. 

Saving too much can hurt

At first, saving can feel excruciating. But before long, many people find that their savings build up quicker than expected. What starts with a few euros each month can soon transform into tens of thousands in savings as you gather momentum. 

But here’s the problem: Unless you are lucky enough to have a truly astounding salary, you won’t be able to live your whole life on savings alone. In most cases, saving diligently every month would still leave you counting pennies in retirement. In order to create wealth, you have to give your money some tough love and expose it to risk. Risk is the chance that the outcome of your investment could be different to what you expect. This means you could make less or even lose your investment. On the other hand, the element of risk is also what makes investing profitable and one of the best ways to sustainably build your wealth throughout your life. 

Most people think that becoming wealthy involves hard work, high salaries and a whole lot of stress. That might have been true in the eighties but today, you can grow your money without breaking a sweat. The smartest way to grow your money is to let it work for you. This means investing it, letting it grow in value and earning interest. Before long, the interest earned on your money will even outgrow the contributions you initially made to begin with, without you having lifted a finger. 

Plan for your children, but don’t sabotage yourself

If you have a family or are planning on having kids, the chances are that you want them to enjoy the best standard of living possible. Despite this, even though you’re trying to do the right thing as a parent, saving too much for your kids can actually end up doing more harm than good. 

We’re not going to say you shouldn’t provide for your children. But having unrealistic expectations about what you can cover could mean that you end up in debt or not being able to retire.The cruel irony of this situation is that your child could end up having to financially support you for the remainder of your life. Any way you look at it, that’s a lose-lose scenario for both you and your family.


An important part of your journey to financial empowerment is developing a sense of independence. We should start not just to think of ourselves as creating a legacy of wealth for our children, but also of knowledge. Passing on these important financial skills as early as possible will help them build wealth of their own, without making the same costly mistakes along the way. 

If you’re smashing your savings goals, this is a bright, neon sign that says you’re ready for the next step of your financial journey. Even though it goes against your instinct to protect your money where you can see it, the right thing to do is send it off into the big wide world, albeit with some strict instructions. When you let your money go out to work, it’s not just disappearing over the horizon. You’re also propelling yourself towards your wealth goals faster, protecting yourself from instability and learning vital life lessons that you can pass on to others along the way.