Too Much Saving, Not Enough Playing

With the economy stuck in a downward spiral, most people are doing everything they can to save money. But is it possible to be too frugal?

There is the belief that if you don't take any chances and spend some money, you risk regretting that you didn't have a little more fun while you had the chance.

Consumer psychologists say that saver's remorse is a real condition, according to The New York Times . Psychologists are so concerned with the affliciton that they have created a new label for it -- hyperopia, the medical term for farsightedness.

The theory is that people are so obsessed with preparing for the future that they can't enjoy the present, and end up looking back with regret on all their lost opportunities for fun.

Psychologists say that splurging on big ticket items or a vacation can produce immediate buyer's remorse, but over the long term, people regret not having enough fun, not traveling and not spending money rather than not saving enough.

"People feel guilty about hedonism right afterwards, but as time passes the guilt dissipates," says Dr. Ran Kivetz, a professor of marketing at the Columbia Business School. "At some point there's a reversal, and what builds up is this wistful feeling of missing out on life's pleasures."

Experts also say that balancing enough "play" time with work is important to relieve stress, especially during these difficult economic times.

"If we're going to adapt to changing economic and personal circumstances the way that nature armed us to do, then we have to find ourselves having some play time virtually every day," Stuart Brown, founder of the National Institute of Play in Carmel, Calif., tells USA Today .

Brown, who wrote the book, "Play: How It Shapes the Brain, Opens the Imagination and Invigorates the Soul," says people have "play personalities" and breaks them down into eight different play styles.

• Joking - This could be as simple as making funny sounds with an infant.
• Moving - Anyone who enjoys activites such as running, dancing, swimming, walking, etc., would fall into this category.
• Exploring - Can be physical or emotional.
• Competing - For those who want to win no matter if they're playing sports or board games, competition can be beneficial.
• Directing - These people love to plan things such as parties or vacations.
• Collecting - Whether its baseball cards, music or comic books, collecting items that you enjoy can reduce stress.
• Storytelling - This can include reading and watching movies.
• Creating art - Redecorating a room, drawing or painting fall into this category.

Brown adds that a big part of the solution is opening up to the idea that play is a state of mind.

Some other tips to relieve stress include meditating, yoga, writing, and, of course, sex. Sex counts big time in the world of play, Brown says, when partners try to draw each other out, they are in effect freeing themselves and relaxing.