In the face of 40-year high inflation, you can’t help but watch your wallet get thinner. In fact, more than a third of American adults are tapping into their savings accounts to cover increased living expenses, withdrawing an average of $617 during the first six months of this year. As nearly everyone is feeling the effects of skyrocketing costs of everything from fuel to rent to groceries to entertainment, we could all use some helpful tips and tricks to stretch our dollars.
Being thrifty and finding ways to pay less for everyday goods is generally the way to go. But have you ever heard the saying "I’m not rich enough to buy cheap"? Turns out, some tactics that help reduce spending now can easily cost you more in the long run — whether in time, energy, or money.
So when one user reached out to 'Ask Reddit' inviting people to share "false frugalities" — low-cost things that turned out to be expensive — most people are unaware of, the thread immediately became a hit. We’ve gathered some of the most illuminating responses to share with you, so continue scrolling! Be sure to upvote the ones you agree with and then chime in with your own experiences in the comments.
Psst! After you’re done with this list, check out Bored Panda’s earlier piece with tips on how to live more frugally right here.
This post may include affiliate links.
There was a sub about how to budget food/living expenses. And the ideas that people had were ridiculous and required you to be financially well off enough to facilitate their idea of what saving money is. I don't think I received advice from anyone who knew what it was like to be poor, or actually truly need to responsibly budget their funds.
One guy wanted me to plant a garden to grow some carrots or other veg. I explained that I have a small apartment, and that carrots are a dollar for a big bag. He actually got uppity with me and became a total shithead when I explained that I live in a small apartment in the middle of the biggest city in canada. There is no benefit to turning half my apartment into a garden so I can grow five bucks worth of veggies in a few month's span. I can't just go outside and plant vegetables. It's also cold here 9 months out of the year.
I got berated out of the sub after pointing this kind of s**t out numerous times.
I spent about $100 once on soil, plants, lumber for a raised bed, etc. to wind up with about $10 worth of a few veges. No green thumb here.
Bottled water. It's marketed to appear that it's healthier and cleaner than tap water, plus the plastic bottles are not sustainable. Just buy yourself a thermos or reusable water bottle and stop buying overpriced plastic with over-glorified tap water included.
It's healthier if you're in a region that has contaminated water, or parasites, like in Mexico, * for example, and other regions in countries around the world that are otherwise developed around the world.
Cheap batteries. They don't last, they don't work well, and many of them are duds. When I was in high school, I always, always listened to my discman. One day the batteries died so I walked up to the gas station and chose between the Duracell batteries and the bronze-colored batteries. I bough the cheaper no-names and they died before the day was over. And I had to go through social studies without music.
I learned two things that day; WWI history, and not to buy cheap batteries.
"Rent is throwing money down the drain"
Owning a home is not always smart. It can be, but not always. It's not just the house cost, but costs in taxes, interest, insurance, repairs and maintenance, etc.
Then there's opportunity costs. I know folks who can't move until they sell, and can't take better jobs cuz they can't move. A house can be a big anchor in some contexts.
Cheap, single ply toilet paper. You end up having to use way more just to get the same effect of the good stuff.
And you generally end up with a middle finger in your bum after it pokes through the cheap paper
Aggressive lane changing while driving.
All that accellerating to get into the "better" lane just wastes fuel, and you save a negligible amount of time.
There was a small TV documentary here in Australia I remember watching that did tests on it. They sent two drivers across Sydney in rush hour traffic: one who would change lanes only when it was absolutely necessary (obstructions, turnoffs, etc), and one who was super aggressive changing all the time.
The aggressive driver got to the destination 2 minutes earlier, though with *80% more fuel consumption than the other driver*.
Actually, I've always wondered about that, but had no way of testing it out!
I once watched a show about extreme penny pinchers. One episode depicted a man who spent about 3 hours a day riding his bicycle or walking around looking for dropped change around pay phones, gum ball dispensers, etc. The whole time I couldn't help but think that even a minimum-wage job would yield him more capital for his time, especially once you factor in bicycle tubes and shoes.
In general, people of this nature fail to realize that the benefits of having money is its positive influence on your quality of life. When your quality of life suffers in order to save money, you've completely reversed your priorities to a mind-boggling level.
This is a hobby for some elderly folks. Perhaps reliving an old past time joy of finding coins on the ground. I once found a $20 bill on the sidewalk. I was just walking, going about my day. I wasn't straining to meet quotas and multi-tasking. A minimum wage job, for the amount of work that you end up doing with little downtime, other than your required breaks, does not lead a great quality of life and the pay does not equal the time and efforts. IF I could make the same amount just walking and looking at the ground as I do at my current job I'd choose coin hunting. And the coins aren't taxed.
All construction.............do you want it done cheap? or do you want it done right?
When it’s done right, it’ll usually cost a lot less in the long term than when it’s done cheap.
Not going to the doctor/dentist!
Wellness checkups are important. Your prognosis will always be better if something is caught early on.
Surprised I haven't seen this yet; using third party hotel booking sites. The sites guarantee you a room and a price but not the type of room you requested. Calling the hotel directly will not only guarantee the room you want but often they beat the price of the websites. On my last trip a particular site favored by an Enterprise captain quoted $129 a night, when I called the hotel they gave me $79 a night.
I don't know where ur staying. I work at quality inn and we can't even match those sites nevermind beat them.
Doing the dishes by hand vs. using a dishwasher. The dishwasher requires a lot less water, time and energy.
Or in my case, doing the dishes by hand vs. not doing them at all (no dishwasher, and no space to install one).
When it comes to tools, buy nice or cry twice.
I saw a popular comment here a couple weeks ago talking about reusing those little handwarmer packet things by slicing them open and adding more magnesium flakes obtained by shaving down sparklers.
For f**k's sake, just buy some new handwarmers.
I knew a fellow who owned one of the most expensive houses in town, but was too cheap to run his swimming pool filter except when he was actually swimming. With virtually no filtration, the water would get thick with debris and algae. He would then by stuff to kill the algae, but then he would have water full of dead algae. And the crud would stiff on the pool bottom, making it very hard to clean off. He spent way more on chemicals than he would have spent on electricity. The owner of this cement pond was a retired rocket scientist.
i have always been told that the smarter a person is, the less common sense… because they’re focused on their whatever
i went to greggs, a well known bakery in the UK. I bought a sandwhich and a drink. as i went to pay, the guy offered me the meal deal. "a sandwhich a drink and crips (chips) for only £1.99. a sandwhich and a drink was £1.59. the sandwhich was £1 and the drink was 59p. by themselves, crisps (chips) were 20p but as part of the meal deal they were 40p. this means that the SPECIAL MEAL DEAL OFFER was more expensive than buying each item individually. CLEVER F*CK***
Heating and air-conditioning. Being uncomfortable, irritable, and unproductive isn't worth the few hundred dollars you save by lowering the heat or not turning on the AC.
Depends. You don't need an industrial central air conditioning system in a tiny bungalow, as my my ex's parents installed. They like to be freezing in the summer. Nor does it have to be sweltering in your home in the winter. And they don't need to be kept on all the time.
In many cases, buying a name-brand product with a coupon is *still* more expensive than buying the store-brand.
Or, buying something just because it's on sale, but not necessarily because you need it.
Mobile phone contracts with a free iPhone etc.
You think you're getting a good deal with a free phone but with 35 pounds a month contact for 2 years, they really screw you.
Buying heavily used cars, sometimes. There are exceptions, but all of my friends who religiously buy the cheapest car they can find are always having trouble. Very expensive trouble, that sometimes adds up to close to the cost of a new car, or at least a better maintained used car.
Believe it or not, some people would like to buy a new car, but can't afford one. Crazy, I know.
Travel and times: A lot of people take the cheapest flight they can find, but to me, saving 50 bucks on a $500 ticket isn't worth a 7am flight or a red eye.
"Buying that rent-to-own laptop Consumer Reports checked out is equivalent to paying 311% interest, which is far worse than the 30% interest rate you see on crummy credit cards.
Buying a big cheap house far from your common destinations.
You will pay with time, petrol, housework, sleep, your relationships, and/or career
Instead:
1.Buy or rent a small house with a 10-30 minute commute.
2. Let happiness ensue.
Home brewing beer.
It's a wonderful hobby and I highly recommend it, but don't think you're going to save money.
My ex like to make apple cider moonshine. He had to buy mason jars and a s**t ton of alcohol, apple juice and whatnot. Thought he was going to make all these underground sales from his friends. Pfft. He sold nothing and I got to keep most of the mason jars. Those come in handy for many things.
Extended warranty
You think you are saving cash on the off chance the product you bought doesn't hold on and you need repairs, but I don't know anybody who has ever been happy about this choice
On the opposite end of the spectrum, car insurance for rental cars. My father and his colleagues used to travel the world and rent cars for several weeks at a time. It would only take one car accident in all those years of renting cars to justify the cost. Many of these rentals were for off-road use. The rookies thought to save cash passing on the insurance and would eventually shell out thousands on repair
Cloth diapers. You still have to buy special (expensive) detergent, and run so many loads in the washing machine. I worked it out when we started cloth diapering 3+ years ago, and it cost the same as if we just did disposable diapers.
Plus all the TIME put into washing/drying/assembling.
I like cloth diapering, I do recommend it, but I hate when it gets lauded as a cheap alternative.
(Edit: Yes, really, you do have to use specially formulated detergent. You don't? That's cool. Your diapers are getting build up of both ammonia and detergent. Good luck with that smell and the leaks, and that is coming from experience.
Also, nowhere did I mention the upfront cost of the diapers themselves. When I talk about price, I'm talking about water and electricity bills.)
people don't do cloth diapers for the nonexistent convenience or the not-so-cheap price. they do it because it's more sustainable & better for the environment, & usually far more comfortable for the baby.
Being cheap with anything you’re going to use a lot or over a long time. Better to spend $180 on a single frying pan that will last 10+ years than buy a $40 frying pan each and every year because they c**p out so easily no matter how careful you are with them. This metaphor, of course, fits the bill for almost any frying pan that is non-stick or costs less that $100 to begin with.
BS. I've had the same non-stick 12 dollar fry pan for the last several years. And a cheap cast iron (10-15 bucks) will last indefinitely.
I agree with the premise of this post more than the example itself. For some products, buying the more expensive option in the first place will save money in the long run. I just don't think that's necessarily true for frying pans. For frying pans I would like for a good middle option, not the cheapest and not super expensive. Not to mention $40 seems expensive for a single frying pan. There are other categories of things were the same logic can be used in reverse. Meaning buy the cheap thing that will fall apart in a year because I only need it to last a year.
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This is the classic Vimes theory of economics; it's easier to save money if you've got money. It's all very well saying "spend $180 on a frying pan, it'll last longer", but if buying the $180 pan means you'll have to skip buying food to put in it it's not much help. (And also you need to check your maths: if a $180 pan lasts 10 years it's still more expensive than buying a $12 pan every year...)
You seem to be responding to the OP. The OP says buying a $40 pan every year is more expensive than buying a $180 pan once. Maths checks out.
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Who the **** pays $180 for a frying pan? I wouldn't pay that for a SET of pans!
My in-laws. For that much, it should also wash itself, put itself away, and quite possibly serve the food at table, IMO ;-D
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This is another example of a submission by someone who obviously doesn't understand what it is to be poor.
After 8 years of extensive use, my non-stick wok I bought from Morrisons for less then 10 £ at the tjme (their own brand), still going strong.
Most wok cooking involves high temperatures to do properly, which would wear out the coating in a single use if heated to temperatures synonymous with the cooking style. Carbon steel wok for a similar price will last years
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Sorry, but this depends on how heavy-handed and savvy a person is in the kitchen. A $180 fry pan is ridiculous. What are you doing with it? Digging a bunker first and then making dinner? To be fair, if you know that you're a bull in a china shop and have no interest in changing that status, then sure, buy that rediculous fry pan you can mix cement in and then cook with it, but if you have any sense in your head about how to use and properly care for the things you buy, then the industrial grade items are for industrial grade use, poppet.
Industrial grade stainless steel pans wouldn't cost $180
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My cast iron is all at least 75 years old. My few other pieces are stainless steel and are over 40 years old. I inherited or thrifted all of it. I think these were a good investment.
But this is the same problem as with the shoes. I think Terry Pratchett explained it, no? A rich man can buy a pair of shoes that cost 50$ and will wear it for 10 years. A poor man only can afford shoes for 10$, which will have holes after a year. In 10 years the poor man will have spent 100$ and the rich man only 50$. The poor man can‘t safe up for the more expensive ones either as he has to buy new ones constantly.
The tea kettle on my stove was made in the 1940s. Still working great. So maybe not the best example to pick on cookware. Boots, now, as Sam Vimes would say, boots... Now there's where it counts.
Well some people can’t do this. I forgot what’s it’s from, but the boot analogy. A poor man buys 20$ boots for work. They last six months, and he has to buy more. If he could buy the 60$ pair of boots they will last for three years. But if he splurges on the boots he won’t have enough to pay for food for a week or two. So he keeps buying the 20$ boots, wich ultimately costs him more money, but there’s nothing he can do about it.
I agree 100 percent with the post, but it still doesn't help poor people. When I was young, I didn't have $180 to spare for a pan. but I had to cook. So I kept buying new pans. I could of course save for a pan, but then I wouldn't be able to cook. That's why the poor stay poor: I ended up investing more money in pans than my rich neighbor. And also constantly had broken pans. A vicious circle of poverty.
I tried the expensive non stick pan. Lasted the same short period of time that the cheap one did. And that expensive one's company only will replace them under warranty one time.
Choose carefully and use carefully and you won't EVER have to spend $180 on a fry pan. And if your $180 pan lasts only 10 years, you've been suckered. Plus, consider that at least a few people won't have $180 to spend so casually.
40$ is a cheap pan? You have a different understanding for cheap kitchen stuff then my self. 40 Euro here will but you a decent Tefal induction pan which will last 2 years give it take a few months. I agree with you that it is not worth it all of you sum it for the span of 10+years piece will be the same/very similar. However you cant splurge 200 Euro on one LeCreuset/Staub pan fresh out of living on your own. And i will agree if one can one should get one.
A well-cured cast-iron beats Teflon at a huge savings. Grandma knows best!
LOL best not mention my cast iron frypan, sauté pan, and griddle that probably cost next to nothing from a camping store (I was a broke arsed student at the time) 35 years on used all the time still going strong and the dutch oven bought at the same time for about the same "broke arsed student" price may be no Le Creuset but it still will cook up a mean shepards pie
hmmm....my old 'free" cast iron pan is over 100 years old now and still going strong!
I still have my Farberware from my college days (1977). Excellent condition and the new Farberware aren't made as well.
I buy a cheap nonstick pan for cooking eggs. I put it in the dishwasher and it lasts a year to 18 months. Once the eggs stick, I get another one.
Prices are so different from the UK - cheap pan £2.99 - expensive and more long lasting maybe £30-40. There are excellent le Creuset dupes (thanks Aldi) for around £30.
I have a small non stick milk pan for fried egg, everything else is stainless, and will outlast me. I can't lift cast iron any more
I've seen people swear their non stick pans are fine even when the surface is peeling off and flakes getting into the food. Cast iron or carbon steel cookware is much cheaper if you shop around, and will last a lifetime if you give them basic care, whereas the most expensive non stick will still degrade over time.
I only use cast iron. So did my great grams, my grandma, my mom and all her sisters.
If you can afford a 180$ frying pan I don't think you need to worry about saving money.
https://en.m.wikipedia.org/wiki/Boots_theory#:~:text=The%20Sam%20Vimes%20%22Boots%22%20theory,run%20than%20more%20expensive%20items.
depends on what it is. I have a sharp as hell chef knife i got at the 100yen sop for 300yen - i have had it for like 4 years now. I sharpen in with my sharpening stone every month or so - it is amazIng. Do i want a cool expensive one - yet but if this one remains durable and gets the job done - no need to invest in anything else.
I think this is gonna come down to how much you cook. Living on my own I do not cook many elaborate foods, I take good care of my pans, only use silicone utensils in the nonstick ones, and I do not think I've ever paid more than $15 for a single one. Most of my saucepans were thrifted and I've had them for 10 years. That said, if I had a big family to cook for every day I would not expect them to last so long. I still wouldn't pay $180 for any pan unless it comes with an extremely good warranty. Added to all this, $180 is nearly a weeks pay for me (disabled) so for some of us it's not an option to buy an expensive item that lasts longer, we literally have no choice but to buy cheap, even if it costs us more in the long run.
It's bizarre to me how often this site makes me look up the exchange rate of the USD. Every single time it's roughly the same as I thought, meaning the price discrepancy between murica and europe is entirely artificial.
Ahh yes, buy the $180 pan... you may be homeless when you can't pay your rent... but you'll have a nice pan for the next 10 years! 🤪 Seriously? This isn't about people "TRYING" to be frugal... WE KNOW the other pans are better. WE KNOW. We can't afford the higher cost up front. It's been an issue for a couple hundred years now. It's called unfettered capitalism.
Not that there's any reason--unless you're susceptible to kitchen porn--to pay $180 for a single frying pan. You can buy an excellent skillet for $50 or less. Learn to season it and it'll be non-stick and chemical-free.
Why are your frying pans 40 dollars??? Mine are like 12 or 13 dollars and they lasted for more than 10 years and i still use it
Sure, but then you get stuck in the boot theory of economics: poor people might only afford a $10 pair of boots, but those shoes will only last a few months. In the span of a year, let's say they have to buy $50 worth of shoes, while the rich person with a larger budget bought one $50 pair of boots that worked for the same amount of time (and likely longer).
BS. Buy cheap but not flimsy, and then if you wear it out or break it by using it every day, buy better. Often the cheap things will still last for years. If it's something you haven't owned before, you can buy expensive high quality, and then find that you use it once every six months. Especially if it's a small electrical, like a waffle maker.
Yeah, this is total bs. Why on earth would you need to spend 180 dollars on a single frying pan? 40-80 dollars will get you a very nice stainless steel or carbon steel pan that should last you way more than 10 years. (Cast iron is even cheaper, and those things never die.) And if you're buying non-stick, the cheaper the better. It won't last more than 5 years with heavy use anyway.
My kids can destroy good pots and pans. so its not worth it unless you really know how to care for them properly.
I went to one of those parties for Royal Prestige cookware in 1983. They are still perfect. I had a family of five and we cooked nearly every day. I think the price was about $2,600 then. And I’ve added a few pieces. They have sent me replacement parts (handles, etc.) for $0. I had been married eight years in 1983 and had already gone through three other sets of various sets of cookware, including Club Aluminum. I highly recommend Royal Prestige. PS. I also have an awesome cast iron skillet ❤️
If you don't have a lot of money, buy used and good. I've purchased a lot of extremely expensive items. Extremely cheap at Goodwill, salvation, army, and eBay for the same price. Price I'd pay for a cheap new product. You don't have to have new all the time. You're cheap. New product will be used in 2 weeks and then they'll still be cheap. The good product is used but it's a quality product.
Properly seasoned and maintained cast iron is the way to go. Not very expensive, either.
It can very much depend on the care given to the utensils to be honest. Treating them carefully, applying appropriate treatment will increase the life of any pan. Letting your carers loose on them has destroyed so many of mine 😒
Cast iron-Natual nonstick and lasts generations even if not in the same family. I’ve had many second favorites over the years but cast iron is always top
There is a saying back where I'm from." I'm not rich enough to buy cheap things"
My kids asked me what I wanted for my birthday one year, I asked for a good set of stainless steel pans. I already had two and loved them.They clean up easily (yes, even burnt on stuff) and cook very nicely. Can't use cast iron or I would, too heavy because of wrist problems. My pans also have a heavy bottom which is the best part.
except most people dont know how to care for their cookware. $20 or $200 is irrelevant if you dont properly maintain them.
Enamelled cast iron. Cheap as f***, but lasts more than a lifetime. Works on all stovetops, including induction, but costs a fraction of the special induction pans. Plus, they look fantastic. And the enamel is also non-stick.
This can be a mixed bag. I bought quite a cheap set of Teflon saucepans, and they have been amazing. I bought a less cheap brand of Teflon frying pans, but on special, so they were about the same price, and they are wearing out already, bought them around the same time and they get the same levels of use.
This specific example really depends on the product, i have pan that costed 15€ and after 3 years it's still in perfect shape. Even the non-stick surface doesn't have a scratch. If you treat a pan right ( if your stove has a scale from 1-9 the highest you should ever go is 6 and only very short time over it ) and only plastic cooking tools, don't even think about using something made of metal in it and no, shortly poking the fork into meat does scratch the pan.
You can't cook a wok stir fry on 6, but good advice for non stick pans. Carbon steel wok and cast iron pans are much more versatile
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Okay but this assumes you can afford to purchase the more expensive versions in the first place. For those starting out, sometimes you need to just take the cheaper options to begin with and over time replace the cheap items with the quality versions if needed. I know that when I moved into my first place, no way could I afford to have top of the range or even mid-range items. Had to just settle for what was affordable at the time. I've found that many of the 'cheap' items I have, knives, pans, pots may not look at so pretty anymore but they do the exact same that my mom's expensive ones do. I can now afford to upgrade but I haven't bothered - I'll only do it when I need to - if the cheap stuff is still working works, I'm not wasting money unnecessarily on upgrading.
I've wrapped my brain and cannot fathom a conceivable scenario of what you're doing with your pans but I've never heard of anyone replacing them yearly. I have a meal prep and home cooking/baking biz and I've had my pans, both cheap and expensive, for years. Maybe don't run over them with your car and they'll last longer.
False Economy or I prefer Sam Vimes "Boots" theory of socioeconomic unfairness. Let's say one guy buys cheap boots for $10 that last for seasons and another brought a good boots for $50 that last years and years. Ten years time, one with cheap boots buyer spent a $100 at $10 a year while good boots buyer still working in his first pair.
Or take better care of your pan and you won't damage it, I take great care of my £25 non-stick frying pan and make sure it is kept properly maintained and I've had it a few years now with no signs of needing to replace it.
what have you been doing to your frying pans?? $180?? I want a full kitchen for that. I have never spent more than £11 on a frying pan and they have lasted absolute ages.
this is the difference between the poor and working class. we dont have 180 for pay for a frying pan. this is literally why being poor is more expensive. a poor man can only dish out a small amount at a time, they are forced to buy cheaper.
That's only partly true, Laura. When it comes to kitchenware, smart shopping saves plenty. An awful lot of the stuff you see on cooking sites, such as Kitchn, and the $180 pan recommended by that expert, is mostly what I call kitchen-porn: perfectly good stuff, mind you, but priced for and pitched to people w/money to burn who want to brag about their possessions to like-minded consumerist pals. As a food writer, I've been in many restaurant kitchens, and I can tell you that you'll see no $180 fry pans there. You'll see aluminum, which is cheap and excellent and durable: great for home cooking, as is cast iron. Buy new or for rock-bottom prices, buy used: thrift stores, Salvation Army, GoodWill, garage sales--even eBay (but only with free shipping). I'm still using cast iron I bought in the 1960s. An excellent chef's knife? Skip the $200 German beauties for a $35 job by Victorinox (the Swiss army Knife people)--that's for a new one, on Amazon, but as little as $7.50, used, on eBay.
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Kind of, and at the same time a big no. When buying things like frying pans, try to read up on differencies in materials. Personally, I have a few cheap cast iron pans that will survive me. They had rough surfaces, but with cast iron that is easy fixed with a bit of know-how, a few abrasive papers, an owen and some vegetable oil. Even better if you find second hand cast iron pans - they can be extremley inexpensive. Just read up on the materials and be ready to use a couple of hours once or twice a year.
I'm still using our €1.99 Ikea Stekka frying pan we bought new. They stopped selling them a decade ago!
I bought a cast iron pan that I just gave away a couple of years back when I had a prosthetic shoulder fitted. After 30+ years of use it was exactly the same as the day I bought it, though blacker and shinier. It cost me $20 in 1991. They go for about $35 here now. I'm in NZ, so not US dollars, but still, nowhere near 100USD.
Depends. I have an expensive set that I got as a gift only a few years ago. So we'll see. On the other hand, the small frying pan that I got at a dollar store of all places nearly 15 years ago is still intact and is my perfect grilled cheese pan. Or a single pancake.
I’m happy buying high end quality gear used. Some items don’t really wear out. I bought high-end kitchen knives (Global), All-Clad pans, Snap-On hand tools, Hobart kitchen mixer, a commercial Vitamix, from eBay and Craigslist. Some things you know was probably lightly used to begin with and are often sold for a fraction of the original price like gym equipment. All of these will last longer than me.
YMMV. I bought a 3 set of mid-tier non-stick pans for ~$100 and those things have lasted me for MANY years. Granted I don't use them every day but 4-6 times per week and I make sure to treat them well. They'll last me a very long time. I also bought a Lodge Dutch oven for ~$60, comparable to a $400-500 Le Creuset oven, and that will also last me forever. And I bought a 3 set of Lodge cast iron pans for relatively cheap ($40?) and those are solid quality and will also last me forever. Obviously, probably shouldnt by the absolute cheapest pots and pans but you can find very good quality for way less than the $180 OP is saying. Just keep an eye out for deals, like I did. I found all these through the daily deals Kotaku/Gizmodo publishes. I think they still do.
Also applies to shoes. Well-made shoes will seriously outlast the cheap c**p AND save you money at the podiatrist by supporting your feet properly.
Well made does not always or even usually, mean expensive, nor does inexpensive mean c**p. In fact, with most expensive shoes, you're not really buying quality, you're buying the name on the shoe. Nike shoes are not more durable than new balance (just using random names here, lol) and definitely not better for your feet, but you're likely paying at least twice the price. You are buying the Nike brand (and whatever child labor goes into making them), you're not buying quality. You could probably insert any brands there you want and still be right, lol.
Load More Replies...Leasing a car instead of buying one. I'm not gonna get into the specifics but it's pretty much always more costly
Only if you plan on keeping your car for longer that's two/three years. But if you plan on getting a new car every couple of years then paying only the depreciation seems like a better deal. But if you keep your car for 5-10 years... then buying is definitely cheaper. Longer than 10... might start looking at costly repairs.
Justifying the purchase of anything solely because it's a "good deal." I hear this misconception all the time.
If you spend $100 on shoes, even if you bought it at 99% off, you're still out $100. You haven't saved a penny, and that'll be a real problem if you needed that $100 to pay your utility bills.
Edit: clarity and $10,000 shoes.
http://www.luxist.com/2010/02/26/louis-vuitton-offers-10-000-alligator-wingtips/
It's all in the intended budget of what you were planning on spending. If you're expecting to buy $200 shoes and had allowed room in the budget or saved for them, and then the shoes are found to be $100 on sale, then, yes, you saved $100.
Professional home repair services. Real companies have insurance, you can sue if things go wrong. Some handyman that someone knows is likely going to do something that violates a warranty, will be judgement proof, and won't get a permit.
I do construction defect claims and this is partly true. A contractor's work product is not covered by insurance. That's if you hire a guy to install Windows and they are defective, insurance does not cover the replacement of defective windows. Not unless they are installed in such a way they cause damage to other parts of the home. I.e. Leaks and damages the interior drywall
People with flex fuel vehicles buying E85 instead of gasoline. The reduced mileage you get out of E85 eats up any saving you get at the pump.
I know people that skip going to the doctor until the last minute to save the office visit payments. It's a terrible idea since by the time they get there the simple cold turns into pneumonia and costs much more to heal.
bad example. going to the doctor for a cold is a waste of time & money. there's no cure for a cold, nothing the doctor can do other than say "you have a cold." so if someone has a cold, yeah they're gonna wait until it turns into something bad to get help; it would've been a needless expense & it's not like they could've known beforehand that this particular cold would be pneumonia...
Not paying off your mortgage to save the tax breaks...
While it is nice to save taxes, the long term financial benefits are astronomical when you free up a mortgage payment.
Completely stupid assertion because it obviously depends a lot on the situation. If the interest rate is very high and the property value not increasing then yeah, pay it off early if you can. If you have a low rate, if the value is plummeting, if you use the extra money to invest in anything with better returns then no, don’t pay it off early and keep it for as long as you’re in the second situation. Never heard of leverage or gearing?
Dining Plans at college. I literally could go out to eat for every meal for the price of them. And I often did. I saved a ton of money because I don't eat that much/snack more often .
Supermarket specials.
Next time you go shopping, grab a calculator and work out the cost per 100 grams (or whatever equivalent weight) and you'll almost invariably find that the products with the big 'Sale!' signs are not the cheapest.
Of course it's impractical to do this with every item so you can of course estimate, or shop at a store that all ready has the cost per 100 grams of the price tag like I do.
In Germany (or the entire EU?) the store needs to put the price per 100g on each item, so you can easily compare.
Shaving with a straight razor. It's a larger down-payment to start into it (simple but nice razor, strop, and brush cost me about $100), but I recouped that in less than a year just by not buying more cartridges. In theory, a razor will last pretty much forever, for free.
Here's the problem, though. I nicked my blade and had to repair it, so I bought about $80 worth of reworking stuff (much less than I could have spent). Then I bought a fancy 1930's blade and restored it. Then I bought a better brush, and a better stop, and a better shave mug, etc.
I started because it appealed to my practical side. Then it quickly became a ritualistic money hole.
You could also split the difference and buy a double edge razor, where you just need to replace the blades, which are cheap.
A $5 pair of sneakers is not a deal, no matter what your wallet says.
Maybe consider them if you only need shoes for another month...
$5 isn't gonna be great quality, but most $20-30 shoes are just as good as $100-200 shoes. so don't go to the other extreme either. depends what type of shoe & how much use you'll get out of them. i've been wearing a $30 pair of off-brand converse that i actually got for half price at $15. they've lasted five years & counting, & they're my go-to everyday shoes.
Where I work, we do price adjustments on products that have gone on sale since the customer purchased them. Most of the time, the refund isn't worth the amount of time, energy, and gas the customer uses driving to the store.
I can't even imagine making the effort to go get the adjustment. It's on sale now and I bought it last week? Oh well. My bad timing.
Steam sales. You think all these games are a great deal, but you end up playing very few of them and proceed to buy new games you would buy anyways. Remember, you didn't save $7.50, you spent $2.50.
Stopping at Costco for just one thing because its cheaper than the grocery store. Sure I save 3 dollars on the initial item that I went in to get, but the bill at the till always seems to average 400 bucks.
Lol this is dumb. I get that it's easy to spend a fortune at Costco (I love costco) but I regularly go in for a couple things and spend less than $50
Cheap legal services.
A good lawyer that takes 3hrs at $300 an hour will do a much better job far cheaper than a shitty lawyer that takes 5hrs at $200 to do the same job.
This is partly why good lawyers are so expensive - because they're cheaper.
People overinflate the hell out of their tires to get better gas mileage, then have to spend much more to get new tires when they wear out far sooner.
Don't mess with air pressure in tires period. Those numbers are not just a suggestion. It may cost you more than just a new set of tires. Does not matter what your dad's nephew's uncle's hairdresser's dog's ex roommate said, keep your tires properly inflated. Also the air you put in tires is already 78% nitrogen, don't pay for the other 22%. Edit: Sorry for any confusion. I am referring to paying for 100% nitrogen in your tires.
Rewards points. You are paying for them.
Not necessarily true. I’ve had a rewards points credit card for 10 years now, and they haven’t gotten a dime out of me. My card carries absolutely no fees, and no interest because I pay it off every month. I get the convenience of paying by card vs cash, and I receive between $200 - $400 back each year in Amazon gift cards. (I purchase from Amazon anyway, so it’s as good as money in my pocket). If you have the discipline to pay off your credit card every month, you can be the person credit card companies hate.
Restaurant specials. It's rarely cheaper and it's typically food that is about to go bad and needs to be sold instead of thrown out.
But then people complain when food is thrown out, and if it's still good enough to be consumed without much difference then it's all good.
Hybrids. Sure, you save $200-$500 dollars a year on gas costs. But every 5-10 years you will have to replace the battery pack, which can go from anywhere from $2,500 to as much as $6,000, especially on some of the new electric cars with larger packs. Not to mention the initial bump in price you pay with most hybrids. You add a small cost for low rolling resistance tires every time you change them.
Furthermore, the so called point of a hybrid car is saving the environment. The materials used in hybrid cars, specifically the batteries and other components that require rare earth elements, not only require more energy, but put out more harmful types of chemicals than traditional processes. The story gets worse if you go with a plug in hybrid, as 60% of wall power comes from coal plants, a less cleaning fuel than gasoline.
Note: this post originally had 48 images. It’s been shortened to the top 45 images based on user votes.
Sounds like a wealthy person that has no idea what it's like to be poor. I disagreed with most of the examples they gave.
Agree. I’d like to see the math behind some of these claims.
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We also need to consider how saving money is much easier when you already have some. Yes, good-quality products are costly and save you more money in the long run. But if someone is poor, they can't afford to buy the more efficient product. And they have to buy the cheap, low quality one, changing it often and being forced to waste money. Financial wisdom is useless if you don't have the money to apply it
Have you read Terry Pratchett? Look up Vimes’ boots theory of economics
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Several of these rely on the assumption that poor people can just - for example - spend 100 dollars once a year instead of 20 dollars every month. But always remember Captain Samuel Vimes "Boots" theory of socioeconomic unfairness: A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
One thing I read that makes a lot of sense is that if you can afford a quality pair or jeans (example) that fit well and you know you’ll wear them often, the math can pencil it out for less cost per wear than something that doesn’t fit well you don’t enjoy wearing. I wear my Birkenstocks almost daily until they are literally falling to pieces ever 3-5 years so I feel ok splurging on a new pair when I need one. This only works if you do t get the poorly fitting ones too.
If your winters are extreme, please invest in good, good coat and boots, if possible.
Buy a good bed...not a cheap one. You will spend at least a third of your life in it, after all. It may take awhile to save up the money, but it will be worth it.
I had a much younger roommate awhile back, and I remember him explaining to me that he would rather drive to his dads house to fill up his tires for free than do it at a gas station for a couple dollars. I pointed out that his dad lives 20 miles away, so he'd be spending 40 miles of gas money to save that couple dollars...but his expression stayed blank...
Didn't see Black Friday mentioned. I mean, there are definitely deals but very often there are also "deals" that, if one kept an eye open throughout the year, are not actually new or even a deal. Another one is those "going out of business sales", where everything gets discounted... Except, it's often over the initial suggested price. I've seen things being sold at prices higher than they were at a competitor that was still in business, yet people thought they actually got a deal out of it. Guess I should say: look around, don't blindly buy based on that one discount.
"High interest savings account" Banks in my area pay One Cent per One thousand $$ per month
People who have the money to buy a gas heating system in their home, but choose to remain on firewood heating because "the gas central is very expensive, wood is cheaper". However, on the long term, wood is usually more expensive
Wood burning is also catastrophic for air quality, both inside and outside the home.
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Dr Phil, before he got Jerry Springerish and I quit watching him, did a show on tightwads who were costing themselves more in man hours, if not actual money, by doing such things as going from one fast food place to another, stealing packets of mustard and catsup and squeezing them into an old store bought bottle. It would take him two hours to gather the packs and fill one bottle. At $5 and hour which was minimum wage at the time, he was expending $10 to save $2.50.
Susie that's true, but some people have more time than they know what to do with. Maybe they don't care about minimum wage.
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How about supermarkets that add barbecue rubs to meet. Don't buy it, that meats going bad!!!!
For the first time EVER I have a dishwasher and I have only used it 3xs I used to say if I had one I'd never wash them again- so much for that one lol
Poor people know that being poor is expensive. We need things now but can't afford a good one so we get what we can. And the result is endlessly replacing crappy stuff and never getting to have nice things. Look up the Vimes boots theory of economic inequality.
People, for the most part, these are general examples, not specific to your particular situation, and yes, subject to some caveats, but most of the replies start "not always". No, not always. And, yes, it's also true that sometimes you don't have the money for the better stuff, no matter how much is saves in the long run. I still wouldn't throw out a lot of these suggestions.
Check youtube for extreme cheapskates (especially look for title: cooks lasagna in the dishwasher)
I encourage you all to join me for “NO BUY JULY”!! For just one month, don’t buy ANYTHING but essentials (food and gas, etc) Borrow big items, clothes for special occasions, etc from friends: If you absolutely need something, buy it second hand, or with old gift cards (I save mine up for lean months). Cook at home, and forgo the delivery services. Many low Income households live this way, and it’s pretty eye opening to see how much you don’t really need.
I encourage *you* to join me for 'stop telling other people how you think they should live summer*! Simply stop 'inviting' people to 'join you' for various things to change how they live. It's pretty eye opening to see how much advice you don't really need.
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Sounds like a wealthy person that has no idea what it's like to be poor. I disagreed with most of the examples they gave.
Agree. I’d like to see the math behind some of these claims.
Load More Replies... We also need to consider how saving money is much easier when you already have some. Yes, good-quality products are costly and save you more money in the long run. But if someone is poor, they can't afford to buy the more efficient product. And they have to buy the cheap, low quality one, changing it often and being forced to waste money. Financial wisdom is useless if you don't have the money to apply it
Have you read Terry Pratchett? Look up Vimes’ boots theory of economics
Load More Replies... Several of these rely on the assumption that poor people can just - for example - spend 100 dollars once a year instead of 20 dollars every month. But always remember Captain Samuel Vimes "Boots" theory of socioeconomic unfairness: A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
One thing I read that makes a lot of sense is that if you can afford a quality pair or jeans (example) that fit well and you know you’ll wear them often, the math can pencil it out for less cost per wear than something that doesn’t fit well you don’t enjoy wearing. I wear my Birkenstocks almost daily until they are literally falling to pieces ever 3-5 years so I feel ok splurging on a new pair when I need one. This only works if you do t get the poorly fitting ones too.
If your winters are extreme, please invest in good, good coat and boots, if possible.
Buy a good bed...not a cheap one. You will spend at least a third of your life in it, after all. It may take awhile to save up the money, but it will be worth it.
I had a much younger roommate awhile back, and I remember him explaining to me that he would rather drive to his dads house to fill up his tires for free than do it at a gas station for a couple dollars. I pointed out that his dad lives 20 miles away, so he'd be spending 40 miles of gas money to save that couple dollars...but his expression stayed blank...
Didn't see Black Friday mentioned. I mean, there are definitely deals but very often there are also "deals" that, if one kept an eye open throughout the year, are not actually new or even a deal. Another one is those "going out of business sales", where everything gets discounted... Except, it's often over the initial suggested price. I've seen things being sold at prices higher than they were at a competitor that was still in business, yet people thought they actually got a deal out of it. Guess I should say: look around, don't blindly buy based on that one discount.
"High interest savings account" Banks in my area pay One Cent per One thousand $$ per month
People who have the money to buy a gas heating system in their home, but choose to remain on firewood heating because "the gas central is very expensive, wood is cheaper". However, on the long term, wood is usually more expensive
Wood burning is also catastrophic for air quality, both inside and outside the home.
Load More Replies... Dr Phil, before he got Jerry Springerish and I quit watching him, did a show on tightwads who were costing themselves more in man hours, if not actual money, by doing such things as going from one fast food place to another, stealing packets of mustard and catsup and squeezing them into an old store bought bottle. It would take him two hours to gather the packs and fill one bottle. At $5 and hour which was minimum wage at the time, he was expending $10 to save $2.50.
Susie that's true, but some people have more time than they know what to do with. Maybe they don't care about minimum wage.
Load More Replies... How about supermarkets that add barbecue rubs to meet. Don't buy it, that meats going bad!!!!
For the first time EVER I have a dishwasher and I have only used it 3xs I used to say if I had one I'd never wash them again- so much for that one lol
Poor people know that being poor is expensive. We need things now but can't afford a good one so we get what we can. And the result is endlessly replacing crappy stuff and never getting to have nice things. Look up the Vimes boots theory of economic inequality.
People, for the most part, these are general examples, not specific to your particular situation, and yes, subject to some caveats, but most of the replies start "not always". No, not always. And, yes, it's also true that sometimes you don't have the money for the better stuff, no matter how much is saves in the long run. I still wouldn't throw out a lot of these suggestions.
Check youtube for extreme cheapskates (especially look for title: cooks lasagna in the dishwasher)
I encourage you all to join me for “NO BUY JULY”!! For just one month, don’t buy ANYTHING but essentials (food and gas, etc) Borrow big items, clothes for special occasions, etc from friends: If you absolutely need something, buy it second hand, or with old gift cards (I save mine up for lean months). Cook at home, and forgo the delivery services. Many low Income households live this way, and it’s pretty eye opening to see how much you don’t really need.
I encourage *you* to join me for 'stop telling other people how you think they should live summer*! Simply stop 'inviting' people to 'join you' for various things to change how they live. It's pretty eye opening to see how much advice you don't really need.
Load More Replies... 