Living frugally is generally recommended, as it helps people avoid overspending without going into stingy territory. Plus, there’s plenty of information about frugal living available, including recommendations, tricks, and hacks. However, not all frugal tips are created equal. Here’s a look at six frugal tips that are not worth the time and effort.
1. Always Going the DIY Route
It is potentially wise to go the do-it-yourself route if a task is in your wheelhouse and you have the time, tools, and supplies to tackle it. However, DIYing when you don’t have the right skills or equipment isn’t an intelligent savings move.
Paying an expert means the job is done quickly and correctly. Plus, it may cost less since you don’t have to buy tools you might not already own, and it ensures you don’t make expensive mistakes that could result in losses.
2. Automatically Accepting the Lowest Bid
If you need some work done on a major asset – such as your home or car – you might get quotes from several companies to get a competitive price. However, don’t assume that the lowest bid is automatically a great deal. Quotes noticeably under the average could come with catches, like inexperienced workers, low-quality parts, or other issues. Instead, examine all of the bids to see what the going rate is and then choose a provider with a solid reputation that is offering a competitive price.
3. Having Chickens for “Free” Eggs
While keeping chickens isn’t always a bad idea, viewing the eggs as “free” isn’t really accurate. The cost of caring for chickens is potentially high. You’ll need coops, feed, and bedding. Plus, you might need to pay for vet visits, which can get expensive. As a result, the eggs you collect aren’t free, as you have to factor in what you’re spending to care for the chickens.
4. Choosing Cheap Shoes
While cheap shoes could make it more affordable to keep up with trends, it’s not frugal. Inexpensive shoes typically wear out fast, making buying another pair a potential necessity. Over time, you could easily spend more than if you went with a high-quality, timeless pair of shoes instead. If you want to reduce the cost a bit, figure out which brands last, then see if you can find classic designs on sale during the year.
5. Going for Low-Cost Paper Products
Choosing the cheapest toilet paper or paper towels may seem frugal on the surface. However, if that low price means getting smaller quantities or needing more pieces to get a job done, you’re not necessarily saving. Look at the total number of pieces to see if the quantity is scaled back to secure a low price, and check the price-per-unit to figure out if it’s a legitimate savings. Then, factor in if you need to use more pieces than if you buy a higher-cost option, allowing you to see where the value genuinely lies.
6. Buying Perishables in Bulk
Generally, buying perishables in bulk only works if you have a large enough household to finish everything before it goes bad. Otherwise, your per-unit savings is potentially offset by buying extra product you didn’t get to use. Before making a bulk purchase, determine if you can finish it before it’s unusable. If not, then see if you get enough value to make it less expensive than getting another quantity. If the answer is no again, then don’t buy it in bulk.
Do you know of any other frugal tips that are not worth it? Do you think that any of the frugal moves above are worthwhile in specific situations? Have you fallen for any frugal traps that weren’t worth the effort? Share your thoughts in the comments below.
Read More:
- 10 Ways to Stay Frugal During Inflation
- 4 Things Frugal People Usually Don’t Do
- Frugal Spending Habits of Self-Made Millionaires
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Tamila McDonald is a U.S. Army veteran with 20 years of service, including five years as a military financial advisor. After retiring from the Army, she spent eight years as an AFCPE-certified personal financial advisor for wounded warriors and their families. Now she writes about personal finance and benefits programs for numerous financial websites.
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