How Frugality Super Powers Doubled My Savings

[bjl584]

But of course they should all be focusing on earning more money and instead of visiting a forum about saving they should be posting on career websites.

If you want to achieve financial success and freedom, then you have to want it on all fronts. Spend time on this forum. Spend time learning about stocks and investments. Spend time working on your career and getting promoted. Spend time training, learning, and increasing your knowledge. Spend time learning about real estate. There are 24 hours in a day. Use every single one of them to your advantage. There is a lot more to winning this game than simply focusing all of your energy on saving a few bucks here and there. I'm all for saving, but you need to learn to prioritize if you're going to come out on top.

[disneysteve]

Surely this member, and likely many others, would be happy with saving $40 on a store purchase by going to the extreme of using their phone to search for a coupon.

Why do you insist on arguing this point? Nobody is saying getting the online coupon was extreme? It was the behavior after that.

Was it worth $20? It certainly was to this person. It may or may not be to someone else. Everyone values their time differently.

Peggy, you're new here. If the message that you've gotten is that all we do is suggest that people earn more money, I think you need to spend more time reading the forums. There are tons of threads and posts about being more frugal, cutting costs, using coupons, buying discounted gift cards, cooking from scratch, getting freebies, and many other ways to save a buck.

[PeggyHefferon]

Why do you insist on arguing this point? Nobody is saying getting the online coupon was extreme? It was the behavior after that.

I spoke up and continue because his comments send the wrong message for a Savings forum. The crazy thing is you and I had/have the same opinion but you continue to support someone that does in fact consider it extreme and not worth the effort.

It appears you both are a bit out of touch with the average person seeking out forums on Saving.

And as admins/moderators of the group, it seems pointless to post anything negative about a story about Saving.

[Milly]

I usually look for coupons for name brand items over $30 or so.

I also usually take the most expensive non-coupon item out of my husband's cart and go through separately at Harbor Freight so we can use two 25% off coupons.

I don't look through grocery coupons for name brand stuff since it is almost all convenience name brand food that doesn't save me money. I only look for the general coupons (15% off entire order, $5 off $25, etc).

I'm surprised how much negative feedback this thread is getting. Let's say it took 10 minutes for him to "make" $40. That's $240/hour! It was tax free, so it was probably worth more like earning $320 gross pay (for a 25% tax). I don't think anyone on this forum would advise each other that a $320/hour job is not worth looking at. This isn't dumpster diving. (And for the record, I have had wild success dumpster diving by college dorms at the end of the school year: iPod shuffle, dresser, microwave, quality mixing bowl set, etc)

[bjl584]

I spoke up and continue because his comments send the wrong message for a Savings forum. The crazy thing is you and I had/have the same opinion but you continue to support someone that does in fact consider it extreme and not worth the effort.

It appears you both are a bit out of touch with the average person seeking out forums on Saving.

And as admins/moderators of the group, it seems pointless to post anything negative about a story about Saving.

Just because I am an Admin it doesn't mean that I am obligated or bound to agree with every single thing that is posted here. I am permitted to have an opinion and think for myself.

If you want to search for coupons for purchases as did the gentleman in the original story, then go for it. Do it for one year and then post on here how much money you saved. I'd love to read about your experience. I personally probably won't be doing it. I just don't see it as worthwhile. Will I lose out and pay more for things on occasion? Probably. But, that's a choice that I have to make. I have an overall saving and investing goal. The small stuff I don't sweat all that much. Do some things fall through the cracks and do I miss out on an opportunity here and there? Yes. But, it works for me.

[PeggyHefferon]

Great job Milly. At least someone else gets it.

[disneysteve]

If you want to search for coupons for purchases as did the gentleman in the original story, then go for it. Do it for one year and then post on here how much money you saved. I'd love to read about your experience. I personally probably won't be doing it. I just don't see it as worthwhile.

Now here I would tend to disagree with you. We are not extreme couponers by any measure but we also don't pass up the easy stuff, the low hanging fruit.

Example: Last week we went to visit our daughter at college and took her out to lunch at Red Robin. We knew this in advance so I went online the day before and bought a discounted e-gift card. It was 16.1% off face value, so I got a $50 card for $41.95, saving myself $8.05 in the process. It took just a couple of minutes.

We have also bought discounted gift cards for the movies, Target, WalMart, JoAnn fabric, other restaurants, Best Buy, and various other places. I haven't kept track but I'm sure we've saved hundreds of dollars doing that.

Numerous times when shopping online, before checking out I do a quick Google search for coupon codes. Several times I've gotten free shipping or 10 or 15% off my order from Retailmenot.com.

Unless you are really in a hurry, I think it's kind of silly not to do that stuff. Why pay more than you have to when there is a quick and simple way to save money?

As I said earlier, everyone values their time differently. For some, spending 2 minutes buying that discounted gift card is worth the $8 saved. For others, I guess it just isn't. To each his own.

[PeggyHefferon]

Exactly!

I used to track the savings but that aspect of it became too involved with no added benefit other than the feeling good about the savings. It adds up. The $40 the guy saved is enough to cover my last gas bill.

The amount I saved buying Southwest gift cards at a 10% discount covered a couple small bills.

The less I pay, the longer my severance will last.

[bjl584]

Now here I would tend to disagree with you. We are not extreme couponers by any measure but we also don't pass up the easy stuff, the low hanging fruit.

Example: Last week we went to visit our daughter at college and took her out to lunch at Red Robin. We knew this in advance so I went online the day before and bought a discounted e-gift card. It was 16.1% off face value, so I got a $50 card for $41.95, saving myself $8.05 in the process. It took just a couple of minutes.

We have also bought discounted gift cards for the movies, Target, WalMart, JoAnn fabric, other restaurants, Best Buy, and various other places. I haven't kept track but I'm sure we've saved hundreds of dollars doing that.

Numerous times when shopping online, before checking out I do a quick Google search for coupon codes. Several times I've gotten free shipping or 10 or 15% off my order from Retailmenot.com.

Unless you are really in a hurry, I think it's kind of silly not to do that stuff. Why pay more than you have to when there is a quick and simple way to save money?

As I said earlier, everyone values their time differently. For some, spending 2 minutes buying that discounted gift card is worth the $8 saved. For others, I guess it just isn't. To each his own.

Don't get me wrong. I definitely grab the low hanging fruit. Right off the top I'm getting 2% cash back for pretty much everything that I do via a cash back credit card. I recently negotiated a better rate on auto insurance and on my cable bill. What I never really bothered with was coupon clipping or spending a lot of time waiting for sales on items. If I need something I usually just go and get it. I don't splurge and I don't carry a credit card balance, so I figure it's not going to hurt me all that bad if I pay an extra $20 or $50 for something here or there.

[scfr]

When I'm taking advantage of an offer like "10% off when you spend $50 or more on groceries" I carry a scrap of paper (from the recycle bin, thank you very much) and a pen and make tick marks as I put things in the basket so I know when I've hit $50. That way I don't have to stop and add things up on my smart phone. I'm also buying things on my regular list and looking for sales to compound my savings. If I fall short of the $50 I'll add some staples like spaghetti or pasta sauce to hit the $50 mark.

The only thing I found a bit odd about the story OP posted was that I wondered why a frugal person would be buying so much disposable stuff from a party store instead of using re-usable things they already had or scrounging up some things from a thrift store? But maybe there was a special reason.

I certainly don't consider such efforts to be a waste of time.

I've never know a football team to win the Super Bowl only because of their offensive line. If they have a horrible, crappy defensive line it isn't going to matter how good the offensive line is. Whatever gains the offense makes, the defense is gonna give back to the opposing team. They ain't gonna win the ring.

[PeggyHefferon]

When I'm taking advantage of an offer like "10% off when you spend $50 or more on groceries" I carry a scrap of paper (from the recycle bin, thank you very much) and a pen and make tick marks as I put things in the basket so I know when I've hit $50. That way I don't have to stop and add things up on my smart phone. I'm also buying things on my regular list and looking for sales to compound my savings. If I fall short of the $50 I'll add some staples like spaghetti or pasta sauce to hit the $50 mark.

The only thing I found a bit odd about the story OP posted was that I wondered why a frugal person would be buying so much disposable stuff from a party store instead of using re-usable things they already had or scrounging up some things from a thrift store? But maybe there was a special reason.

I certainly don't consider such efforts to be a waste of time.

I've never know a football team to win the Super Bowl only because of their offensive line. If they have a horrible, crappy defensive line it isn't going to matter how good the offensive line is. Whatever gains the offense makes, the defense is gonna give back to the opposing team. They ain't gonna win the ring.

Great response and analogy.

I thought maybe the couple didn't want to be ridiculed for being cheap by being more thrifty buying the party supplies. I admit that if I am purchasing something to take to a party, how I will be perceived is in the back of my mind.

It sure seems like a lot of tech guys are quick to tell people to make more money. I think it is wonderful that they have those skills and the ability to increase their earnings. Not everyone has a marketable skill set or chose a career in high demand.

[disneysteve]

Not everyone has a marketable skill set or chose a career in high demand.

Sorry, that's a cop-out answer. Virtually everyone can do something to generate income. I won't even say "able-bodied" people because I know plenty of disabled people who work full-time jobs. My 86-year-old mother has a job in her senior apartment building helping in the kitchen. My wife took up sewing about 3 years ago and has since sold dozens of tote bags, placemats, t-shirt quilts, invitation pillows, basic alteration work hemming pants and such, and making curtains. Just tonight, she got paid $70 for a job she did for someone and her last quilt sold for $350.

If there is a need (or desire) for more income, there is always a way to earn it.

[PeggyHefferon]

Sorry, that's a cop-out answer. Virtually everyone can do something to generate income. I won't even say "able-bodied" people because I know plenty of disabled people who work full-time jobs. My 86-year-old mother has a job in her senior apartment building helping in the kitchen. My wife took up sewing about 3 years ago and has since sold dozens of tote bags, placemats, t-shirt quilts, invitation pillows, basic alteration work hemming pants and such, and making curtains. Just tonight, she got paid $70 for a job she did for someone and her last quilt sold for $350.

If there is a need (or desire) for more income, there is always a way to earn it.

No, it is not a cop-out and your example takes things a bit out of context. It was previously brought up to focus on the income side of the equation and how it is easier to save money when you make more. A comment from someone that didn't feel searching for a coupon and splitting an order was worth $40.

As it was previously stated, that $40 savings equates to a per hour rate that far exceeds what most people earn.

[bjl584]

As it was previously stated, that $40 savings equates to a per hour rate that far exceeds what most people earn.

I don't agree with that analogy. Yes, he saved $40 in 10 minutes which works out to $240 an hour. But, he had to spend $200 in 10 minutes to do it. So, I guess if he wanted to spend $1200 per hour at that particular store when they happen to be offering that particular coupon, then yes, I guess he is making/saving $240 per hour.....

[bigdaddybus]

I am all about what the guy in the story did.

Yesterday I went out to buy a wireless fence for our two dogs. I found the best deal online, then went to the local petsmart/petco and asked the manager to match the online price. Saved a quick $80, and got what I wanted when I wanted it.