| Teaching you to Save Money |
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09-28-2009, 06:58 AM
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$ Saving HS Freshman
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Join Date: Jan 2008
Location: Iowa
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Where do you not cut back?
I just published a blog post about prioritization, and how important it is to identify what it is we really care about and what we don't.
I think many people probably fail in their frugality because they try to apply it across all aspects of life, then burn out quickly under the self-deprivation. A money management plan can only be sustainable if it allows us to loosen the reins somewhere.
So, excuse me if similar threads have appeared before (I didn't see any), but I'd like to ask- where do you not pinch pennies?
I'll go first- one such area for me is basketball shoes. The thought of buying my ball shoes at a deep discount store gives me shudders, because after 1-2 hours running up and down the court, you'll realize exactly why they were only $20. Besides, we basketball players are often infatuated with stylish footwear. 
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09-28-2009, 07:18 AM
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$ Saving Post Graduate
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Join Date: Nov 2006
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Shoes, healthcare, dogs, bed - bought a novafoam mattress, best investment ever. I can't sleep on regular spring mattresses anymore and it's really helped my DH's back A LOT.
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09-28-2009, 07:28 AM
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$ Saving College Freshman
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The easy answer:
On good nutrition for my son. I can eat dollar store white bread and frozen pizza, but I still ensure he eats the good stuff.
On good day care for my son. I have visited cheaper day cares, but I would not switch him to cut back.
On healthcare, although I am huge in prevention with good nutrition and stress management. Still to incorporate some exercise on the mix
Now, Being a debt-aholic in recovery that is a tricky question.
I have not 'properly' cut back on eating out.
But I guess you are talking about needs and wants and not about affordability
I can not affor to eat out so much, but I have not been able, yet, to cut back to proper levels.
Working on it so it becomes a choice of lifestyles and not a constant source self-deprivation.
So far I have
1) I would like to make out time to cook and serve the foods I cook
2) I would like to find the joy of cooking, enjoy it, make it a hobby.
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09-28-2009, 08:23 AM
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$ Saving Fourth Grader
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Join Date: Jan 2007
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I second the basketball shoes. I got a pair of the Kobe IVs last spring and they are awesome.
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09-28-2009, 08:47 AM
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$ Saving HS Freshman
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Join Date: Oct 2008
Posts: 147
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recurring expenses add up really really fast.
so if you find yourself spending money on anything at least 3times a year, shop for the best bargain in terms of quality/price. food, bills, clothes, gasoline, cellphone, etc.
on the other hand, for things you buy once and keep a long time, car, furniture, house, buy the best in terms of quality. such is my rule.
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10-02-2009, 01:43 PM
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$ Saving College Freshman
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Wipes...
Wipes...
I switch to a cheaper version, same brand and my little man got a rash.
I was saving $2.50 on a box of 4, not worth it
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10-02-2009, 02:16 PM
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$ Saving College Dept. Head
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Join Date: Dec 2005
Location: North Georgia
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We do not cut back on cars. My husband's motto is, "Life is too short to drive an ugly car" We got married in 1977. By 1978, we had a new corvette. (still have it)
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10-03-2009, 03:14 AM
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$ Saving College Junior
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Join Date: Jun 2006
Location: Pennsylvania
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I really don't "pinch pennies". I just try to buy the best value for what I need/want. I buy quality when quality is necessary but try to avoid buying more than I need. Case in point, I decided to get cellphones for my 2 sons so instead of getting the multimedia package with internet, etc. I bought a plan which was what they need which is minimal minutes of calling and lots of texting. That is it. I don't need 5000 minutes a month so no sense paying for that.
When I buy electronics, appliances, I will buy with features I like but try to keep it with what I really need. I don't need appliances or electronics with 99 different settings or multiple options as I won't use them.
So, I guess I am saying that i pretty much buy the middle of the road for most everything. Don't know if that is a good strategy or not. But, I have found that the cheapest thing is often the cheapest thing for a reason. And, I have also found that the deluxe whatever has way more things, buttons, accessories on it than I need. I also have no qualms about buying a "better" model/type of something but getting it used versus new.
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10-03-2009, 06:48 AM
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$ Saving HS Junior
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Join Date: Jul 2007
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I've found that I don't sweat the small stuff. I was raised to avoid being "penny wise, pound foolish." I have come to know myself as "penny foolish, pound wise." Meaning that I am nowhere near as frugal as I could be, but because I make no large mistakes, I can easily tolerate what would, to some, be an intolerable lack of frugality. I leak small amounts of money from time to time: I will spend a little here and there to avoid a few hassles. But because our house payment is only 5.7% of our income, and we always drive cheap 4 cylinder cars, these small leaks are almost inconsequential.
I should add that I highly respect those who are always frugal. Please don't take this as an anti-frugality post.
__________________
Luke 18:10-14
In capitalism man exploits man, in communism its vice versa.
Capitalism is the worst economic system, except for all the others.
I'm very humble. Its just one of the many things I admire about myself.
Last edited by Snodog : 10-03-2009 at 07:17 AM.
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10-04-2009, 09:30 AM
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$ Saving HS Freshman
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Join Date: Jan 2008
Location: Iowa
Posts: 131
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Quote:
Originally Posted by Snodog
I should add that I highly respect those who are always frugal. Please don't take this as an anti-frugality post.
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I definitely don't see anything wrong with your philosophy. It sounds really similar to Ramit's (I Will Teach You to be Rich) view- focusing on the 'big wins' and not sweating the small stuff as much.
These have been really fun to read. Thanks everyone for sharing! 
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10-04-2009, 03:00 PM
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$ Saving HS Senior
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Join Date: Feb 2009
Location: Missouri
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I think for us, we also don't scrimp specifically too much. We don't make the big purchases very often, and when we do, it's always at a big discount. Example - we just got a flat screen for $730 plus tax (display model) when the new model is $1158 plus tax. That's a saving of $432.40 or 38% when you figure in the added tax. We have a date night at least twice a month, and budget $100 for each. We budget $100 a week for groceries and the dog. I definitely agree with the penny foolish, pound wise idea. We don't pinch pennies, but at the same time we don't spend excessively either.
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10-04-2009, 04:58 PM
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$ Saving HS Freshman
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Join Date: Feb 2007
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Shoes.
No, not for vanity or pride - I have bad feet! Flat footed and plantaris fascitis (SP?). I have to buy decent, leather shoes. The consolation is that my feet feel better and they really do last a long time, if properly cared for, so it's worth it.
I always advise buying good shoes. Better to have just a few good pair, than lots of crappy ones.
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10-04-2009, 05:58 PM
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$ Saving HS Sophomore
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Join Date: Sep 2009
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Food! 
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