BE GOOD TO YOURSELF - 2. ECONOMY THAT COSTS TOO MUCH - Orison Swett Marden - HQ Full Book. In Chapter 2 of Be Good to Yourself, titled "Economy That Costs Too Much," Orison Swett Marden makes a compelling case against misguided frugality. He explores the harmful consequences of stinginess masquerading as thrift, emphasizing how such misapplied economy often leads to greater loss than gain—physically, mentally, socially, and financially. The chapter opens with a striking parable: a Paris bank clerk, intent on recovering a dropped ten-franc coin, loses a bag of gold to a thief while he searches. This incident perfectly captures Marden’s central thesis—that false economy, like misplaced priorities, can have catastrophic results. By valuing a small gain over a greater risk, the clerk epitomizes the folly of saving in a way that leads to disproportionate loss. Marden recounts numerous real-life examples to illustrate this flawed mindset. One story describes a wealthy man so trapped in his early habit of extreme economy that he dims his house lights dangerously low. Family members stumble, spill ink on expensive carpets, and even injure themselves due to his miserly habits. Although financially successful, he clings to penny-pinching behaviors that cost more in damage and discomfort than they save. Even in his business, he demands unnecessary frugality from employees, like saving bits of string—an effort that wastes valuable time and productivity. The author strongly distinguishes true economy from meanness. True economy, he says, is intelligent, balanced, and purpose-driven. It doesn't mean simply spending less—it means spending wisely, with a view toward long-term benefits. A wise person, Marden argues, will understand that investing in quality, health, comfort, and opportunity often yields much higher returns than hoarding small amounts of cash. One of the most significant areas where people exercise false economy, Marden says, is in personal health and sustenance. He condemns the common practice of skimping on nutrition, eating poor-quality food, and neglecting rest in order to save money. Poor food, he asserts, leads to low vitality and diminished brain power—the very fuel needed for personal and professional success. He likens it to feeding a great factory with shavings instead of coal. Economizing on food, health care, or sleep to save a few cents or dollars ultimately undermines efficiency, ambition, and physical resilience. He extends this principle to travel, urging people who can afford it to spend extra for sleeping accommodations or dining car meals while on the road. The additional cost, he claims, is more than offset by the benefits of arriving well-rested and clear-headed, able to engage effectively in important work. He cites acquaintances who saved money on travel but arrived so depleted they lost days recovering—far more costly than the small amount saved. Another common error is false economy in appearance and social engagement. Marden notes how some individuals, eager to save money, dress poorly or avoid social functions. Yet in business and professional life, where appearances matter, this stinginess can undermine one's reputation and limit opportunity. One man he describes lost business because he dressed too modestly, never invited clients to lunch, and refused even to cover minor expenses when networking. As a result, people viewed him as cheap and unfriendly—attributes that cost him far more in lost revenue than he saved. Marden also critiques people who refuse to spend money on necessary medical care, such as glasses or minor surgical procedures, and suffer avoidable discomfort or impairment. The cost of delay, he argues, is paid in missed work, lost energy, and reduced quality of life. He laments those who waste time chasing trivial discounts, shopping at numerous stores for minor savings, or purchasing poor-quality goods that wear out quickly and require frequent replacement. The author then highlights the widespread obsession with bargain-hunting and auctions, where people often buy unnecessary or poor-quality items just because they are cheap. Homes become cluttered with mismatched and broken furniture, and the supposed savings vanish in repairs and inefficiency. Marden stresses that quality and durability should always take precedence over price.“The worst kind of extravagance,” he says, “is buying cheap goods that don’t last.” In the business world, he describes how companies sabotage themselves by hiring cheap labor or choosing the lowest bidder for important contracts. He shares a case where a New York skyscraper, built by a low-bidding contractor, became a constant source of stress and expense due to substandard materials and construction. Despite its location in a high-rent district, the building failed to retain quality tenants and demanded endless repairs, ultimately costing far more than the initial savings. For Marden, the ...
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