The psychology of the hoard: why we find misers so fascinating

Countries & Cities · Published 12 October 2026 · Updated 25 October 2026 Swipe more like this →

In short: A miser isn't just someone who is mean with money; they are defined by a specific psychological state. To be truly miserly, one must take genuine delight in what is saved. From ancient Greek fables to Victorian novels, this behavior has fascinated humanity for centuries.

The distinction between being 'cheap' and being a 'miser' lies in the internal reward system. According to historical definitions, if an individual is reluctant to spend but does not derive pleasure from the act of saving, they do not meet the proper criteria for miserliness. This behavior has been analyzed through various lenses, including Sigmund Freud’s theory of anal retentiveness—which linked hoarding to childhood toilet training—though this specific psychological explanation is no longer supported by modern evidence-based science.

Cultural and religious narratives have long framed the miser as a figure of moral warning. In the Christian West, misers were often grouped with usurers as guilty of avarice. For instance, the 'Shepherd of Hermas' suggests that the wealthy are obligated to provide mutual support through charity to secure their salvation. Conversely, in Classical times and later in 19th-century literature, miserly behavior was frequently categorized as a form of eccentricity. Authors like Charles Dickens used these archetypes to critique Victorian capitalism, featuring characters who obsessed over wealth while forgoing basic comforts.

The history of the 'notorious' miser is well-documented in 18th and 19th-century biographies. Figures like John Elwes and Daniel Dancer became celebrities for their parsimonious habits; Dancer was famously known for spending five shillings to sue a shop woman over three pence. These accounts, often published in compendiums of 'remarkable characters,' highlight a recurring human theme: the tension between the security of a hoard and the corruption of the personality that pursues it.

Global folklore reinforces these themes through cautionary tales. In Buddhist scriptures, misers are shown being miraculously converted to generosity or losing their wealth to divine intervention. Arabic literature offers one of the earliest large-scale explorations of the topic: Al-Jāḥiẓ’s 'Book of Misers,' written around 800 CE during the Abbasid Caliphate. These stories collectively suggest that while hoarding provides a sense of safety, it often leads to social isolation and spiritual stagnation.

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