Is Being Cheap or Frugal Costing You Money?
I read this interesting article on Yahoo today and wanted to share my thoughts on how being cheap frugal need not cost us money.
First I never want my cheapness to cost me money over the long haul! That means I do NOT buy on credit. I love Dave Ramsey’s money envelopes..and follow a budget. I would never think to buy a car, or furniture no matter how needed on credit. For me this is a major no no. Why? Because of the interest attached, every company wants your credit purchases it means money in the bank for them, but for you it means paying more unless you pay off your credit card every month- lets be real how many people pay off their balance each month? Very few.
Right now there are 3 what I consider large purchases that I want to make this year- a laptop, a new sofa bed, a trip to Nova Scotia for Christmas…all are being SAVED for, and will not be bought till cash is on hand. Then I will look for deals and compare prices and sometimes I can even go into a store and ask for a cash discount and get it. As for the trip I am saving money each month so that I can buy my tickets in the early fall, I hope to take my Roo by train to finally see the ocean.
I do shop sale flyers and coupon collect but I don’t buy what I don’t need or can not use in rotation, and because our household is just the two of us well buying in bulk does not make sense except for buying packages of meat. This I take home and break down into smaller packages and it works this way I never spend more then $40 a month on meat. I only ever buy enough for 2 months at a max because I know sales rotate and come back.
As for buying the newest and latest well that just isn’t me…I can wait. Do I really need a plasma screen? does Roo need that latest video game? The answer is NO..do we lose out because we don’t have the latest find? I don’t think so.
As for clothes there is no reason for anyone to ever buy these on credit not with the many garage sales, discount stores, etc offering great buys. I have 3 leather purses all bought for less the$10 and they all get wonderful compliments. I buy GAP, ROOTS, and the like all at Value Village for my daughter and most are hardly worn, which is good for me and the pocket book. I don’t buy the latest trends and wear mostly classics found at Value Village, other consignment stores or Winners.
There are many ways to that being frugal ie stocking up at sales, could cost us money if we are not careful, but if you are careful use a budget, pay cash, and plan for larger purchases then it need not cost you a penny in-fact you could end up saving many more and isn’t that what being frugal is all about.
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Being organized is definitely key to making sure you don’t end up throwing away your money. Keeping track of what food you have and using it before it goes bad for example.
Being organized is definitely key to making sure you don’t end up throwing away your money. Keeping track of what food you have and using it before it goes bad for example.
Being organized is definitely key to making sure you don’t end up throwing away your money. Keeping track of what food you have and using it before it goes bad for example.
I totally agree, credit is the worst thing to do. I have some friends that are broke almost immediately after they have been paid as they are having to pay off store credit cards etc. the circle continues, it is very hard to get out of once you build up a cirtain amount of debt.
Store cards are the worse, i never used to think about it when i was younger, i just used to think “great i can buy all the clothes i want and pay later”, boy did i learn the hard way and in the end had to cut all my cards up, but i managed to break the cycle in the end and now never use credit, instead i am now a total frugal head and shop around all the time for the best deals.
I totally agree, credit is the worst thing to do. I have some friends that are broke almost immediately after they have been paid as they are having to pay off store credit cards etc. the circle continues, it is very hard to get out of once you build up a cirtain amount of debt.
Store cards are the worse, i never used to think about it when i was younger, i just used to think “great i can buy all the clothes i want and pay later”, boy did i learn the hard way and in the end had to cut all my cards up, but i managed to break the cycle in the end and now never use credit, instead i am now a total frugal head and shop around all the time for the best deals.
I totally agree, credit is the worst thing to do. I have some friends that are broke almost immediately after they have been paid as they are having to pay off store credit cards etc. the circle continues, it is very hard to get out of once you build up a cirtain amount of debt.
Store cards are the worse, i never used to think about it when i was younger, i just used to think “great i can buy all the clothes i want and pay later”, boy did i learn the hard way and in the end had to cut all my cards up, but i managed to break the cycle in the end and now never use credit, instead i am now a total frugal head and shop around all the time for the best deals.