May 27th, 2009
What is the difference between being cheap, being frugal and being wasteful?
Cheap: You’re only concerned about spending the least amount of money.
Frugal: You are financially resourceful and seek the best value.
Wasteful: You buy more than what is necessary and typically buy things on impulse without prior planning.
Toilet Paper Analogy
1 Sheet vs. 3-4 Sheets vs. Big Wadfuls
If you only use 1 sheet you may be considered cheap in your TP usage.
If you use 3-4 sheets you may be considred frugal in your TP usage.
If you use big wadfuls you may be considred wasteful in your TP usage.
-
tim
Categories: Frugal Living, Misc
May 13th, 2009
Some people get a thrill out of paying the lowest possible price. But there are several factors that need to be looked at to see whether the best price is really the best price.
Cost of Acquiring the Deal
If gas is $0.02/gallon cheaper in the next town, it doesn’t make financial sense to drive 5 miles out of your way to save $0.30. You’ll be spending more on gas (plus wear and tear on your car) then you would receive in actual savings.
Time
Spending hours doing comparison shopping at the mall to save $2 on one item is not an efficient use of your time.
Usage
If you buy a product just because it’s on sale but never use it, then you would have been better off if you never bought the product in the first place.
-
tim
Categories: Frugal Living, Misc, Saving Money
March 20th, 2009
About Me
I am a 20-something currently residing in upstate New York who was brought up with a strong personal finance foundation.
About this Blog
This blog will provide you with free personal finance tips on topics such as investing, real estate, saving money, budgeting, retirement, frugal living, and more.
-
tim
Categories: Misc