[api]

The converse is not true; you don't get rich by spending freely.

That being said, there's good frugality and bad frugality. Bad frugality is being "penny wise and pound foolish," spending less now in ways that result in spending more later.

[AlexandrB]

The problem with bad frugality is that it can be really hard to detect - especially when it comes to things that affect your health.

Saving money now on regular checkups, which leads to a health emergency later is an obvious one. But what about spending money on ergonomics, PPE, diet, exercise, etc. It can be hard to quantify the long term risk/benefit.

[don-code]

I've noticed a bathtub curve in cost of ownership on many things. Typically, I do save a good bit of money up front by buying used, and then try hard to repair rather than replace. Eventually, though, a failure mode of all gadgets seems to be an increasing-at-an-increasing-rate amount of spend needed on upkeep.

Admittedly, I've been notoriously bad at realizing that I've entered that phase. On three high-profile occasions (two computers and a car) I've exceeded the saleable value of the thing in upkeep costs, in the span of just a few months - it would've been cheaper to divest and replace.

Determining that you've crossed that inflection point is, I assume, a skill.