16 Priceless Strategies for Being Frugal

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When some people go on a diet, they “starve” themselves until they reach their desired weight. It’s only natural that when the same people look for ways to be frugal, they try to cut their budget to shreds. The truth is, just as it pays to adopt a healthy lifestyle for weight control, the same commonsense approach applies to frugality.

Be Frugal: 16 Time-Tested Tips to Save Money

Cheaper isn’t always less expensive Some folks compare the price of products without factoring workmanship or product life into the equation. As a result, they end up paying more for several things of inferior quality than for one thing of high quality. Remember, it’s less expensive to buy good quality up front –– think “one and done.”

Hidden costs are visible The true cost of a purchase isn’t always visible. For example, when you buy a new computer, consider the cost of downtime, lost productivity learning the new system, and even software upgrades that may be required. Remember, hidden costs may be invisible to your eye, but they’re very visible to your wallet.

A penny can cost you dollars Sometimes the effort required to save a few pennies far exceeds the benefit. (For example, driving fifteen miles to save a few cents on gasoline.) Remember, if you spend less time trying to save pennies, you’ll have more time to make dollars — or to do something else of greater value.

New doesn’t make it better Some folks buy things simply because they’re new. The question is, “Does the new product offer significantly greater benefits than the existing one?” If not, don’t buy the hype. Remember to think before you jump.

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