Times are tough and can get even tougher, especially on the wallet, so it’s very important that you save up for the rainy days. However, it’s not enough that you cut your costs, you also need to know how to do it right.
Yes, you can actually slash your expenditures the impractical or even annoying way. It’s called being cheap, and nobody wants to be considered as one. Instead, you should strive to become frugal, a person who knows the value of money and therefore knows how to spend and save it right. So, if you want to be frugal and not cheap, take heed of the following.
Buy Good-Quality Items
If you’re a person who is cheap, you will spend the smallest amount possible on everything. They wouldn’t mind if the product they’re buying is poorly made, the only thing that matters to them is that they get to save a few bucks.
Unfortunately, in the long run, going for cheaply made items will cost them even more than what they originally spent, as they’ll need to spend on repairs or buy an entirely new one.
Frugal people, on the other hand, know when an item is worth the additional extra bucks, as they know that it will save them from having to spend for servicing or a replacement later on.
Don’t Miss Out
Don’t avoid going to lunches or dinner hangouts with friends or co-workers just so you can save on money. You’re missing out on a great opportunity to have fun with them.
It’s understandable that you’re trying to save and all, but there’s more to it than just finding every possible way to pinch pennies. After all, there are a lot of things more valuable than a few bucks you can stash away, like friendship and camaraderie. Besides, good office relations and connections can also be investments.
Spend On Needs
You’ve probably heard of people complaining about different ailments, back pains, heart constrictions and whatnot, but they make no plans to go the doctor’s because consultations are mighty expensive. Don’t be like them.
While they may be saving money for a rather expensive check-up now, they will definitely be spending a lot later on when these ailments and pains worsen. If they spent on their needs early on, they could’e saved a whole lot more.
This doesn’t just apply to healthcare – you can use this advice for a lot of other necessities, like having your own internet connection instead of paying for costly beverages and drinks just to get wifi in coffee shops, or getting a stored value train ticket instead of paying for one every time you ride.
There is a world of difference between the life of a cheap person and a frugal one, especially when it comes to quality of life, value for money, and the respect of people around them. So, which one are you going to be? That will not be decided by what you’ll pick, but by how you spend.