Frugaling

Save more, live well, give generously

  • Home
  • Start Here
  • Popular
    • Archives
  • Recommended
  • Contact
  • Save Money
    • Lifestyle Downgrade
    • Save Money with Mindfulness
    • Save at Starbucks
    • Psychological Trick To Reduce Your Online Shopping
    • Best Freebies
  • Minimalism
    • 8 TED Talks To Become A Minimalist
    • We Rent This Life
    • Everything Must Go
    • Lifestyle Downgrade
    • The Purchase Paradox: Wanting, Until You Own It
    • Nothing In My Pockets
  • Social Justice
    • Destroy The 40-Hour Workweek
    • Too Poor To Protest: Income Inequality
    • The New Rich: How $250k A Year Became Middle Class
    • Hunter Gatherers vs. 21st Century Desk-sitters
  • Make Money
    • Make $10k in 10 Months
    • Monetize Your Blog
    • Side Hustle for Serious Cash
  • Loans
    • 5 Rules To Follow Before Accepting Student Loans
    • Would You Marry Me?
    • Should I Have a Credit Card If I’m In Debt?
    • $50k in Scholarships in 70 Minutes

5 Common Myths Of Frugality

By Frugaling 8 Comments

Share This:

American Airlines Airport Las Vegas

The word “frugal” is frequently synonymous with an unflattering list of words. The most common one I’ve heard is “cheap.” But what I’ve noticed is that when words like that are thrown around, they often represent a stereotypical idea of frugality. People who’ve adopted a frugal mentality might balk at those descriptors because they tend to discount, under-appreciate, and confuse this philosophy around money.

Every now and then I like to revisit the definition of frugality, as it bears repeating. This time, I figured I’d address a snapshot of the many myths I regularly hear regarding this way of living. The following are five popular assumptions/myths that people tend associate with frugal living.

Myth 1: Buy the cheapest products possible

If someone has a surface-level understanding of frugality, they tend to assume that I shop for the cheapest everything. From shampoo to razors to coffee to cars to bikes to phones, the myth is that frugal people scour the world for the cheapest option every time.

In reality, I tend to shop for the top and work my way down. I try to understand what the “best” products are selling and see if I truly “need” what they’re offering. Similarly, I search for similar abilities in more affordable products. Who wouldn’t want to save money and get the features of a more expensive product?!

Also, cheaper products don’t always pay off in the long run. Various problems can occur from poor resale values to early failure. I have two examples that come to mind. In both of the following instances, long-term planning pays off better than short-term savings.

First, disposable, plastic razors are one of the cheapest ways to shave upon looking at the face value. But these razors don’t last as long, rust quicker, and do not shave as closely. In total, that actually results in spending more money over time. How anti-frugal!

Second, a cheap Windows laptop might cost $400 to $500. Again, on face value, this seems cheaper than an Apple laptop for $900. It takes a critical eye to parse apart the savings. For starters, an Apple computer is more reliable and powerful than the ~$450 Windows computer. You’re paying for that though, so not very frugal yet. The real cost savings comes with resale value. Because of the power and dependability, Apple computers retain their total value for longer periods of time. That $900 purchase price degrades at a lesser percentage each month.

Myth 2: Never pay full price

This one is tricky. No one wants to pay full price for anything. Sales, deals, coupons, and special savings entice us. I promise, they affect my buying and likely sway you, too. Grocery stores and malls are full of these opportunities. Heck, some of us wait for weekly ads to make our purchases!

In the end, we hate paying full price so much that we will spend countless hours over our lifetimes scoping out deals. But the frugal person doesn’t necessarily focus on the sale to buy a product. The key is buying it consciously, with intention, and through savings — not credit. Being a frugal consumer means avoiding purchases because of sales. Sales shouldn’t be the catalyst for purchases.

When you focus on a new item for purchase, it’s important to consider the place it has in your household. New shoes might be vital to your job. Rather than focusing on the “savings,” concentrate on the value. What shoes will stand the test of time, be comfortable, and limit future purchases?

Like before, the full-priced option may actually be better than the sale deal. Evaluate sales carefully. End of year or last year’s models might actually be a great deal, though. The point is, this myth is reductionistic and oversimplifies the complicated task of staying frugal.

Myth 3: Avoid adventure

Personally, I never want my frugality to be boring, limiting, or burdensome to trying new things, experiencing cultures, and developing a greater appreciation of the world around me. While yes, travel tends to be expensive, there are ways to adventure and take advantage of the world around you.

Perhaps it includes attending a free concert or talk at a local university/library. Perhaps it means taking a long bike ride around your city. Perhaps it means strategizing a bonus miles credit card to reduce ticket costs.

Regardless of the method, travel and adventure can be made more frugal. It takes forethought and planning. While many people buy tickets on a whim or whenever they’re gearing up for a flight, frugal people tend to find dates earlier on and book tickets then. The savings is often greater further away from a flight date.

Even more, the frugal philosophy necessitates a new definition for adventure. It seems that many people associate spending money with “fun.” The reality is far easier. We needn’t spend money to enjoy life. Adventure is right out your door — all it takes is a perspective change and appreciation of the world’s natural offerings. Hike, run, read, walk, chat up a future mate — whatever!

Myth 4: If you must eat out, tip poorly

The more brutal stereotype of frugality states that we tend to cut costs everywhere we go. If we eat out, we’ll likely tip poorly because that’s an opportunity to save.

Frugality needn’t be at the cost of others. In fact, that’s an ethically dubious version of this cost-saving and life-affirming philosophy. Savings shouldn’t undercut another way of living or punish others. If you’re a poor tipper and don’t recognize that servers don’t make much as an hourly wage, you should avoid eating out altogether because that’s the more frugal option anyways.

Most of the time, I tip about 15 to 20 percent for good service. If it’s bad… Well, all rules are off. Eating out is a treat for me — rare compared to the amount I eat in. When I do treat myself, I try to be respectful to those serving me, as well.

Myth 5: It’s hard to maintain

We are not born into a world that advocates for frugality. Choosing this lifestyle takes years of relearning and backtracking. Surrounded by advertisements and marketing for products we likely could avoid or go without, we are not accustomed to avoiding purchases. In that sense, it can be challenging to initiate frugal living.

Once you’ve started living with less, reduced spending becomes more habitual and quotidian. It’s all about relativity. When spending is reduced gradually over time, the cuts are less effortful. Then, when you reach a basic level of spending, maintenance can occur.

This stage requires less consideration for purchases and decisions. Maintenance doesn’t require rethinking spending patterns, reformulating grocery lists, etc. All you need to do is continue at the same rate and frugality will be yours!

Every now and then, opportunities to buy something will crop up despite your maintenance, and you’ll feel the pull to purchase. When that occurs, it’s important to recognize what motivates your frugal life. Why did you start living frugally in the first place?

Frugality is a philosophy and way of living. And many of the myths and assumptions that people carry about frugality are wrong and/or exaggerated. It’s bigger than simply spending less. It is a conscious philosophical decision to save money where you can to enjoy what you love.

Filed Under: Save Money Tagged With: adventure, cheap, flying, Frugal, frugality, living, myths, philosophy, Products, Travel

The Difference Between Cheap And Frugal Coffee

By Frugaling 25 Comments

Share This:

Photo Russell James Smith on Flickr

I got home the other night and my roommate asked, “What’s the cheapest coffee per ounce?” I didn’t know. That simple question spawned a two-hour search — digital and physical — to find the cheapest possible option.

We scoured Amazon.com for different brands. There were Coffee Bean Direct, 8 O’Clock Coffee, Starbucks, and everything in between online. After some math from elementary school that seemed far too hard to remember, we divided nearly every brand by ounces to find the cheapest price.

The most affordable was about 30 cents per ounce. In the back of my mind, I remembered that I had a coupon for $1 off of Walgreen’s “Nice” coffee. This blatantly huge canister comes in at nearly 33-ounces of pre-ground coffee. After coupon, it came to 23 cents per ounce.

My roommate said, “Let’s go to the Walgreens and try it!” The clock read 9:30 PM. Drinking a bunch of caffeinated coffee didn’t seem smart, but against my better judgment I immediately said “yes.”

We hopped on our bicycles and rode to the store. Headlights ablaze, we were men on a mission. Inside, we quickly walked over to the coffee aisle and found “Nice.” It sat precariously close to Folgers. My roomie was quick to point out that markets regularly pair their generics next to comparable products.

Coffee and eggs

If the “Nice” canister was supposed to be similar to Folgers, it’d be undrinkable at any cost. I had tried Folgers before, and realized that if I ever needed to quit coffee, this would be the perfect prescription. Folgers had perfected the art of throwing unknown substances in large drums — before anyone else. Open any pack, and you find a strange blend of irregularly roasted chips of what they call “coffee.” That diversity of substances is paired with a uniquely acidic taste — like drinking an alkaline battery. But there was “Nice.” Maybe it’d be better?

After purchasing the canister, we rode back to immediately brew a cup. It was just like Folgers. The smell, the taste, the look… Everything about it screamed of substandard quality. I wanted to swig mouthwash and chew soap to clear my palette of this abomination. “Nice” would be returned the next day, as Walgreens’ return policy guaranteed my satisfaction. Two-three cents per ounce were 23 too many.

Saving money has a limit. At some point, frugality becomes cheap to a fault. Every product has a different barrier, and sometimes spending a little more upfront creates a better value. Either way, I have a few takeaways — some rules — that you should follow on your search for a more affordable cup.

1. Search for 100% Arabica

For casual coffee drinkers, scan the package for the source and type of coffee beans. Some popular regions include Central America, Africa, and East Asia. Unlike my “Nice” coffee experience, where the canister read, “100% coffee,” you want to see a bag that says, “100% Arabica beans.” This will help ensure that you are actually drinking real coffee, and not twigs and dirt.

2. Buy whole beans

Whole beans retain their flavor and oils longer then ground coffee. There’s nothing better than some freshly ground coffee. Packaged ground coffee, by any brand, is a big flavor sacrifice. If the goal is to maximize flavor on a budget, stick with whole bean. It usually doesn’t cost any more and assures that you can see what’s going into your hot cup o’ joe.

3. Buy in bulk

But if you can’t buy in bulk and have to buy coffee quick, stick with 12 to 16 ounce packages. While these can’t compete to bulk coffee, you can usually find one brand on sale — exercise strength and resist brand loyalty. Additionally, packages are more frequently purchased, so they tend to be fresher than the metal containers.

4. Stay away from the canisters of coffee

Ugh, I can’t stress this enough. The bulk, pre-ground, canister-style coffees are awful. It’s gas station coffee that’s set out for hours on end. It’s the leftover shards that no other coffee company wants. It might cost a few more cents per ounce to stay away, but I assure you that this is worth it. Just think, you’re saving tons of money over buying coffee out and about!

5. Buy with friends

The best part of about being frugal has nothing to do with padding my own wallet. Frugality is a social starter — something that brings people together and helps them question their values around money. Sharing in this pursuit of the cheapest coffee wasn’t just about saving a dollar here and there, it was about experimenting with a friend. And nothing helps save more than buying in bulk with others. If you can, try to buy whole beans with others — go to Costco or local roasters and ask for deals. There are savings in numbers.

Filed Under: Save Money Tagged With: affordable, Beans, cheap, Coffee, Frugal, grind

The Debt Breaking Point: A Student Reforms His Budget

By Frugaling 5 Comments

Share This:

Budget College Graduate Student Loans Debt
If your budget looks anything like this truck, you’re in trouble.

As a student, we are presented a nearly blank check in the form of student loans and financial aid packages (aka, more student loans). It can be hard to resist taking out more than you actually need. But once you open the intravenous drip of federal funds, it can be hard to quit it – hard to reduce your liabilities.

A close friend of mine confided in me that he was broke. The credit card debt had taken over. It wasn’t supposed to work out this way. He had student loans, but he knew better. Something had happened; sort of inexplicable, really. His expenditures soared, but the income was stagnant.

After realizing his budget couldn’t right itself, he scrambled to find help with friends and family. Fortunately, they supported him financially and he’s been fixing his broken budget. The following are some excerpts from our conversation (via email), as he’s learned a lot about what drove him to this level.

Romantic relationships and money

Our conversation ran the gamut, but for a moment, he focused on the impact of relationships and money. Implicitly, there’s a pressure as man (whether there should be or not) to treat and offer to pay – to be a provider.

I like the thought too about expectations, the impact on relationships (if one partner has to suddenly cut back). Part of my expectation (related to gender role socialization) has made it tough for me. I’m so used to being able to buy nice things for Susie, to pay for her dinner, to treat her to nice surprises (fuck, even for little things like buying flowers).

He ran out, and in sharing this with his partner, she was surprisingly accepting, supportive, and helpful. It can be difficult to admit budgetary defeat, and the longer it goes unnoticed, untamed, and denied, the deeper the hole can become. Here are some things he learned from confronting and sharing this realization:

…She’s been great about the whole thing. I think she’s honestly relieved a bit. She’s been much better at being frugal than me (more self-disciplined and better at handling money) from day one. I think she’s been very aware that marrying me means joining with my maelstrom of ego-driven impulse buys, not effortfully considering the true cost (long term) of my purchases, whether I can afford things in reality, and my staggering student loan debt.

Dinner Budget Student Loans Debt
Shopping and going out can be easy – too easy.

Last May, I realized I was sinking, and attempted to change everything because I didn’t want my debt to destroy a loving relationship. Seemingly, by confronting and asking for support from others (emotional and/or financial), the way back can be made easier. My friend decided he needed to start from scratch and analyze the budgetary gaps where money was disappearing.

The sink is shipping… How do I take back control?

For me, I had a similar experience to your 7 day challenge. I had so many little expenditures I didn’t realize (holes in the hull of my “finance boat” if you will). I had far less variety in food while I was getting the hang of it. I made rice & beans and had it for like 6 meals. I changed a few things up, would add cheese or salsa. I would wrap it in a tortilla or just have in a bowl. And I would intersperse a McDonald’s dollar menu purchase to balance it out. But it was tough feeling like I’d failed. Tough having to tell myself no, you can’t have it. I think it helps knowing I can’t “cheat” when I have these either-or decisions to make.

As he traveled through the joys of cutting back and realizing what needed to go, the budget was pretty clear; all or nothing, he had to change. The spending couldn’t be sustained. The credit cards were maxed. The student loans were tapped.

When I had literally $0 mid-way through December, I started to realize what had to be done. And magically, I was able to change my expectations, get a roommate, cancel many unnecessary things (gym membership, no more buying expensive proteins, no more consumer reports, got Comcast to lower my cable bill, etc). I’ve been able to set up a budget and stick to it. I’ve been able to track every expense, because I finally HAVE to do this. Years of attempts and failures, but finally having “skin in the game” lead to success.

Changing, fixing your budget is more difficult than it sounds

To spout out the mantras and trite cliches that simply say, “Change your budget to take in more than you spend,” can sometimes be more difficult than it sounds.

Adjusting my budget wasn’t a small change, it’s a giant lifestyle change that’s hitting nearly every area of my life. I needed to change my workout routine since I cut my gym routine. I have to get a roommate and change my living situation. I have to get used to rarely eating out. I have to change leisure time since I can’t really afford 20$+ to take Susie and me to the theater. My choice was to bottom out with no money in May again, or finally get my shit together. And for now, I’m on the get your shit together path.

Like many who’ve participated on this site, asked me, or debated online, the line between frugality and simply stingy/cheap is sometimes a gray area. Being cheap can sometimes elicit a value question.

A big question a lot of this leaves me with is how to be frugal without being cheap. I think there is some overlap, but that they are different. Frugal to me means cutting back, often not being fully satisfied at the reward of more savings. Cheap to me often reflects a self-interested style of frugality. In my mind, I think of friends who would leave little to no tip at restaurants, try to get everyone else to pay for them, continually try to ask “are you going to finish that.” As I’m making huge changes, maybe I’m trying to find a way to stay congruent with my values in the process.

By sharing my friend’s hard lessons learned and insights along the way, I hope it gives you a window into a world. What you do with that window is yours.

Special thanks to my close friend and confidant. Really appreciate being able to share your growth and story with my readers. All names have been changed, but you know who you are!

Filed Under: Loans Tagged With: Budget, cheap, Credit Card, debt, financial aid, Frugal, graduate school, loans, management, money, relationships, student, Student Loans

Follow

  • Facebook
  • Google+
  • Pinterest
  • RSS
  • Twitter

Subscribe

Best Of

  • The New Rich: How $250k A Year Became Middle Class
    The New Rich: How $250k A Year Became Middle Class
  • My Low-Income Lifestyle
    My Low-Income Lifestyle
  • Who Are Your Financial Role Models?
    Who Are Your Financial Role Models?
  • Apply For $50,500 Worth Of Scholarships In 70 Minutes
    Apply For $50,500 Worth Of Scholarships In 70 Minutes
  • Is Frozen Juice Cheaper?
    Is Frozen Juice Cheaper?
  • The Real Reason Poor People Can’t Save
    The Real Reason Poor People Can’t Save

Recent Posts

  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby
  • 4 Ways to Save Money on Streaming Services
  • 5 Ways to Save Thousands in Mortgage Interest
  • Why Professional Maintenance on Your Vehicle Saves You Money in the Long Run

Search

Archives

  • January 2023 (1)
  • March 2022 (3)
  • February 2022 (2)
  • November 2021 (1)
  • October 2021 (2)
  • August 2021 (4)
  • July 2021 (5)
  • June 2021 (3)
  • May 2021 (2)
  • January 2021 (2)
  • December 2020 (2)
  • October 2020 (2)
  • September 2020 (1)
  • August 2020 (3)
  • June 2020 (1)
  • May 2020 (2)
  • April 2020 (1)
  • February 2020 (2)
  • January 2020 (1)
  • December 2019 (1)
  • November 2019 (5)
  • September 2019 (4)
  • August 2019 (1)
  • June 2019 (1)
  • May 2019 (1)
  • April 2019 (1)
  • March 2019 (3)
  • February 2019 (1)
  • January 2019 (3)
  • December 2018 (1)
  • September 2018 (2)
  • July 2018 (1)
  • June 2018 (2)
  • May 2018 (1)
  • April 2018 (5)
  • March 2018 (6)
  • February 2018 (4)
  • January 2018 (1)
  • December 2017 (10)
  • November 2017 (3)
  • July 2017 (2)
  • June 2017 (5)
  • May 2017 (2)
  • April 2017 (8)
  • March 2017 (4)
  • February 2017 (3)
  • January 2017 (2)
  • December 2016 (2)
  • November 2016 (4)
  • October 2016 (2)
  • September 2016 (1)
  • August 2016 (4)
  • July 2016 (1)
  • June 2016 (3)
  • May 2016 (3)
  • April 2016 (4)
  • March 2016 (5)
  • February 2016 (2)
  • January 2016 (2)
  • December 2015 (3)
  • November 2015 (5)
  • October 2015 (5)
  • September 2015 (4)
  • August 2015 (6)
  • July 2015 (8)
  • June 2015 (6)
  • May 2015 (14)
  • April 2015 (14)
  • March 2015 (13)
  • February 2015 (12)
  • January 2015 (15)
  • December 2014 (10)
  • November 2014 (5)
  • October 2014 (6)
  • September 2014 (7)
  • August 2014 (12)
  • July 2014 (11)
  • June 2014 (12)
  • May 2014 (16)
  • April 2014 (13)
  • March 2014 (13)
  • February 2014 (9)
  • January 2014 (20)
  • December 2013 (9)
  • November 2013 (18)
  • October 2013 (15)
  • September 2013 (11)
  • August 2013 (11)
  • July 2013 (27)
  • June 2013 (18)
  • May 2013 (16)

Best Of

  • The New Rich: How $250k A Year Became Middle Class
  • My Low-Income Lifestyle
  • Who Are Your Financial Role Models?

Recent Posts

  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby
  • 4 Ways to Save Money on Streaming Services

Follow

  • Facebook
  • Google+
  • RSS
  • Twitter

Copyright © 2023 · Modern Studio Pro Theme on Genesis Framework · WordPress · Log in