It pays to spend less whenever you can, right? Well, not necessarily. There are some cases where the “less is more” principle doesn’t work.
Being cheap lowers your costs for the time being, but usually leaves you incurring more additional expenses in the long run. That ends up being the antithesis of frugality. In other words, you are flushing money down the toilet.
Here are some cases where frugality can backfire:
1. Coupons
10% off, free plans, free sink, free toilet, free granite, free $500 upgrade, free, free, free. This is coupon.
Are you saving money? The answer is no. Let me ask you a simple question: Do you know of a store that lets you walk in, grab something off the shelf, and happily walk out the door? Nothing is free. People can’t pay the mortgage, pay the utilities or put food on the table by giving things away. You are paying for it somewhere. The problem is that you don’t know where. is hidden. That is dishonest, misleading and just plain wrong. Is this the type of person who trusts his home with his family? Is this the type of person you trust your hard-earned dollars with?
The moment of truth always comes once the work starts and the change orders go out, the ever-increasing demands for cash to “buy materials”, the things that were promised are not done and the materials that you thought you were getting they are not the ones that are installed. . Worse still, you can’t see the work that was done behind the walls, and this is what will save you a lot of time, and it will cost you. Of course, the cell phone number of the person who did the work is no longer in service, how convenient! That’s not to mention the hours of your life you’ll spend doing it all over again and the frustration of shelling out all that money. And for what? Nothing, everything goes to waste. What a waste and what a tragedy.
The choice is yours, but I suggest you do a cost-benefit analysis to determine if the hours and money spent on coupons are worth it. Does it really make sense to spend $10 today and another $20 tomorrow along with all the frustration? That’s $30 vs. the $20 you would have spent up front to get it right the first time.
2. Adopt a deprivation budget
When you decide on a budget for your project, whatever the amount, you will find a queue of people willing to get your money; especially when it’s too low for what you want. I can promise you that you will never experience a shortage of people willing to take, and I mean take (rather steal) your money. In his effort to get diamonds for the price of coal, he reins in spending and willingly accepts the guy who tells him, “No problem, I can do it! I’ve found the secret to building and remodeling using only the finest materials while lowest price”. . I’m just brilliant. Wait and see!” It’s tempting to accept it, after all, they are telling you exactly what you want to hear… your work and all its splendor can be made for the slimmest figures imaginable. Really? Here’s a secret : We all pay the same for that 2×4, bolt on, paint, etc. So what’s the difference? The difference is (a) the quality of that 2×4 – is it wood grade or build quality? Is it paint Dunn Edwards Suprema or something from a discount store? (b) Is the person installing the product an experienced craftsman or someone just ripped off the corner that morning?
I totally understand cutting costs, but being unrealistic means your spending plan will fail. For example, if you normally spend $600 at the grocery store for a family of four, what’s the point of reducing that number to $200? The answer is simple: none at all. She will save $400 on the grocery bill and spend $5,000 on the doctor when the children are sick with malnutrition. How much did you save now? And the children are wounded for life!
3. Buy Inferior Expensive Items
If frugality is deeply ingrained in your genetic makeup, it’s no surprise that big-ticket items with low sticker prices can be appealing. However, the cheapest is not always the best, especially in construction and remodeling.
A perfect example is shopping for an inexpensive bathroom remodel: simply repair the cabinets, paint, and install new tile in the shower and on the floor. It may look great, smell great, and come with an incredible price, but you’ll soon discover what a “taillight warranty” means. A year or two from now, you’ll have me wanting to know why after remodeling your bathroom a year ago, the tile floor is cracked, the shower is leaking, the shower door won’t close anymore, and the toilet requires “jiggle the handle” technology. “. “to make it work. When I see you in a year or two, I’ll refer you to this essay.
Cut costs today, but end up where you started when all is said and done. Cheap and inferior is just that. Something for nothing is a scam.
4. Cutting corners
Are you riding the wave of luck when it comes to your remodel? Do you remodel the bathroom and not replace the shower valve or install an inferior brand? Wait until you have to remove the new shower tile to replace the shower valve you got for a great deal. Better yet, when you convert your tub to a shower and don’t increase the size of the drain from 1-1/2″ to 2″, let me know how that works out for you. Oh yeah, you have a great deal! Much more expense and anguish!
It goes like this: Consider those who ignored dental visits to save money for so long that they must now live with gum disease and expensive deep cleanings for the rest of their lives. Just think of those people with debilitating medical conditions who might have been caught earlier with a routine blood test. How much did they save in the long run?