As you all know, I’m a very frugal person and I bring you tips on living a frugal life every single day now. I wasn’t always a frugal person and I accumulated some major debt, because of some horrible decisions that I made. Unfortunately, I wasn’t taught from a young age to be a frugal person. Instead, I had to learn from my mistakes and make some serious adjustments.
A lot of people I talk to may even call me a cheap person, but I’m actually not. Just because you’re a frugal person doesn’t mean you have to live a cheap existence. Actually, I wouldn’t suggest saving the most money possible at all time. You see, there are lessons I had to learn to get myself out of debt, but there are also some lessons I had to learn about frugal living, as well. Yes, you can make mistakes when living a frugal existence, even when you’re saving more money than you’ve ever been able to save before. This actually leads me into my very first point.
#1. Items that will last longer are worth the extra money.
I’ve had this discussion with many people. It’s honestly always better to buy the more expensive version of an item if you are going to need that item to last you for a while. For instance, you could go to the dollar store and pick up a fairly cheap coffee machine. At first, you’ll save money, because it’s much cheaper than the name brand coffee machine at another store. However, your coffee machine probably isn’t going to last long due to cheap manufacturing and you’re going to have to buy another one.
Now, a lot of people will just go and buy another cheap coffee machine to replace the broken one. Then, that machine breaks and the cycle continues. In the long haul, you would have been much better off initially purchasing the more expensive coffee machine.
#2. Pay more if there’s a noticeable difference in quality.
A lot of times I will suggest purchasing store brands, because they’re much cheaper and often times they’re just as good as the name brand product. However, sometimes it’s better just to buy the name brand if there’s a noticeable difference in quality. For instance, you should purchase the name brand toilet paper, because there’s a huge difference in quality. Some things are just worth spending that little bit more for the extra convenience.
It’s really easy to get caught up in the frugal way of life and I’ve done it, too. It’s very easy to get in an ultra-frugal mindset and start counting out your pennies and saving as much money as humanly possible. Before you know it, you’re more focused on saving as much money as possible, rather than enjoying your life. When you get to this point is when you just need to take a step back and relax a little bit.
Now, I’m not saying that you need to throw away your budget, but I am saying that sometimes you should give yourself a little treat. Buy something you truly want and just don’t even worry about it. Remember, life’s too short and shouldn’t be spent worrying about money all the time.