Frugal Does Not Always Mean “CHEAP”!

Are You Frugal Or Foolishly Cheap?

As illustrated by some simple examples in the penny wise and pound foolish article, we find that being frugal does not always mean being cheap. If we are talking about good frugal shopping strategies, we must always look for good value, and not just a lower price.

Grocery Shopping For Good Value

If the big box of cereal is cheaper, but you always let half of it get stale, you may not have saved money, and you have wasted food. If you can only consumer the fifteen ounce box before it gets stale or sticky, then do not buy the 30 ounce box unless you have a good way to store the rest.

It is very tempting to buy the bargain brand, or shop at the warehouse stories. However, I am not sure that every family can always use the big box of everything. Also, consider what happens when you buy the much cheaper brand of paper towels of toilet paper. Very often, you get less per roll. Make sure you are really getting good value, and a frugal deal, when you shop by price.

Save Money On The Big Stuff

Of course, this lesson applies to almost anything you need to buy. Cheap insurance may come with high deductibles or less coverage. This may be alright, or it may cost you a pile of money when you need to make a claim. I am not telling you that you should be over-insured, at a high cost. But I am suggesting that you analyze any policy changes you are about to make.

That deeply discounted vehicle may have a worse safety, repair, or gas mileage rating than a slightly more expensive vehicle. If you are deciding if you should save fifty bucks a month on a car payment, be sure that won’t be used up at the gas station, repair shop, or insurance bills.

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