Being Frugal: Why it’s Ok But Being Cheap is Not

Jul 2018

I was just about to start this blog post on being frugal the other day when my damn laptop died. In hindsight, I cheaped out on it when being frugal would have been a better strategy. It totally messed up my day, I had to go get it fixed, I got behind on work, not to mention the cost.

That brings us to today’s post. Being frugal is one thing, but being cheap is something totally different. There are some things you should absolutely not cheap out on in life. There are certain things in life where being frugal and hitting the old dollar store makes total sense. Going for the lower priced option makes sense sometimes, but there are also times when it’s smart to spend more for a variety of reasons.

Similarly, in business, being frugal is fine, but there are things you do not want to cheap out on.

A Friend of Mine Was the Unfortunate Recipient Of…

A barbershop that went beyond being frugal and flat out cheaped out on hiring qualified employees. At least I am assuming their hiring unqualified employees was the reason for this unmitigated disaster:

Ok, clearly that isn’t a picture of my friend. The train wreck of a haircut he received was embarrassing enough, no need to embarrass him again by putting his photo up here. But trust me, it was just as bad as the drawing above. I told him that place charges $8/haircut for a reason, but he didn’t listen!

So, clearly, instead of being frugal, the haircut place cheaped out on the people they hire and my friend cheaped out on his haircut – I guess they both got what they deserved. They got a shitty Yelp review and he got a bad ’do!

2 words for you my friend: caveat emptor! (let the buyer beware)

As for Why You Shouldn’t Cheap Out on Stuff…

There are a bunch of reasons you shouldn’t cheap out on certain things in your life:

Safety and health to me is always number 1. If buying the cheaper alternative jeopardizes your health and safety, you really need to reconsider it.

Comfort – Buying something that is cheaper and noticeably less comfortable is something you are going to regret down the line.

Long-term cost – Howie had a video a few weeks back about long-term cost including replacement cost, maintenance cost, frustration cost, injury cost, inconvenience cost – they all apply here as well.

Things That You Shouldn’t Cheap Out On

Some of the things you shouldn’t cheap out on are:

Mattresses/pillows: You spend 1/3 of your life on it between sleeping and naughty time. Not having a good sleep can really affect the rest of your day and your overall health. A good quality mattress can have a huge impact on your life, don’t cheap out on it – your back will thank you! Same goes for pillows, cheaping out on pillows can literally be a real pain in the neck.

Running shoes and shoes in general – Buying that cheap pair of shoes may not only cause blisters but it may eventually cause foot, ankle, knee and back problems. Good shoes cost more but last longer and are better for your feet.

Food – They say you are what you eat. I have no idea who ‘they’ are but I agree with ‘them’. Your health is number 1 and buying cheap food may end up coming back to haunt you via health consequences down the line.

Dog food – Same thing goes for Rover. Buying him crappy food may end up costing you more in vet bills down the line. And if it is really bad it may end up on your kitchen floor in another form that you will have to clean up later.

Furniture – Poorly constructed furniture will not be comfortable to use and may fall apart sooner than you anticipate. Meaning you will need to spend the money to replace it.

Tattoos – I’m not into tattoos myself but I have some friends that are. Cool, you do you. However, if you are going to put something on your body forever, you probably don’t want to cheap out on it. That tattoo of a coconut is ½ price for a reason!

Toilet paper – Your butthole has a shitty enough job as it is, at least give it a little comfort.

Pregnancy tests – Same goes for those dollar store pregnancy tests. I would probably like to be pretty certain if there was a bun in the oven – either way.

Computer desk and chair – Another case of buying something that may affect your health. Putting yourself in an ergonomically correct position is important and should not be neglected.

Vacuum cleaner – Buying a cheap vacuum cleaner may result in buying one that doesn’t suck, and THAT would suck!

Appliances – I’m not saying go for the high-end unit, but you want something that is reliable and does its job consistently. Consumer Reports has a lot of great reviews and can really help you find something that works with your budget and that is reliable.

Not visiting the doctor – Regular doctor visits can mean the difference between catching something early or not. In the end, it can end up saving you a lot of money but more importantly, it can save your life!

Car maintenance – Spending the money on regular maintenance like oil changes can end up saving you a ton of money in the long run.

Lingerie – I don’t want you to think I am beating up on the dollar store here. There is a time and place for it, no doubt. However, lingerie for the girls and banana hammocks for the guys (if you are into them, no judging) should be purchased elsewhere.

Flights in winter – Get the direct flight. I have learned this from personal experience. You may save $100 by taking a connecting flight but is it really worth arriving late or not at all if there is a snowstorm or other issue?

There is a Difference Between Being Cheap and Being Frugal…

Being frugal is shopping around and trying to get the best price on a similar product. Being cheap is only caring about saving money or spending as little money as possible, regardless of the product or service you end up receiving.

At the end of the day, the price you pay needs to match the value you get from the products and services you spend your hard-earned money on.

As the old saying guys, don’t be penny-wise and pound foolish!

On That Note…

It’s time for me to go buy some prophylactics, I hear the dollar store has some.

On second thought…CVS may be a better bet!

Until next time, being frugal is ok, being cheap is not, and as always…PYMFP!

Rick

Use It or Lose It:

To apply this concept, you need to ask yourself if the price you are paying is likely to match the value you get from the product or service you are purchasing.

Being frugal is one thing, being cheap is something completely different.

When to Use It:

When you are purchasing items whose safety, comfort and long-term cost need to be considered.

What Do You Think?

Rather than being frugal have you cheaped out on certain things in your life that you wish you hadn’t? Are there any items that you would add to my list? Please share in the comments below!

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6 Replies to “Being Frugal: Why it’s Ok But Being Cheap is Not”

Carolyn says:

July 5, 2018 at 7:59 am

Some good points. My husband always buys good quality tools and maintains them. Keeping them clean, well oiled and sharp. Lasts him years. He sharpens the kitchen knives, mower blades, axe and other tools. He even sharpens shears, both my sewing, craft and the convex hair shears he uses to cut my hair. He youtube researches diy projects, before he starts. One thing my mother thought was horrible was the first time he gave me a haircut. I had gone nearly a hair since my last visit where I paid way too much and got a really bad haircut. I told him I was never going back and was going to grow my hair to my knees. He said I would still need to trim the ends or it would be a ratty looking mess. So I asked if he was volunteering, and he said he knew how as he had a friend who was a hairdresser show him how to cut hers. So that means yes, I asked him and he said he would. Net result he gave me a great haircut and he has been doing my hair for me ever since, I have not spent a penny in the salon. Saves me hundreds a year and I get compliments on my hair. My mom got over it and now has him cut her hair for her, as well as him giving haircuts to a couple of my friends. Cheap? I would say no. Frugal? Very and very smart as I get better results than at the salon. I see women with really bad haircuts and I am thankful I do not have to suffer that route and pay alot for that to be done to my hair. I realize not everyone can give a good haircut, I had paid way too much for way too many bad ones at the salon, so I will enjoy geting a great haircut for free.

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1. Rick, Bri and Howie says:
  
  July 5, 2018 at 12:52 pm
  
  Hi Carolyn, thanks for reading and for the great comments! Wow, sounds like you and your husband have things down to a science in many areas! And that’s pretty damn cool about him cutting your hair. I don’t think I have ever heard of a husband cutting his wife’s hair (and doing a great job no less) – impressive! And like you say frugal with better results than the salon. Cheers, Rick
  
  Reply
  1. Carolyn says:
    
    July 8, 2018 at 4:04 pm
    
    The initial reactions were surprise and sometimes shock when I told people my guy cut my hair for me when we first got together. He shouldn’t be doing that, you should spend the money, go to the salon, etc. garbage. Seems women are brainwashed to believe they have to spend money at the salon and getting a bad haircut is just what you should expect. Cutting hair at home is taboo in their world. So I was fed up with bad haircuts at the salon and frankly didn’t have the money in my budget to waste at the time and I figured he was a great cook (better than me), so maybe he could do a decent job. For holidays now my sister self invites herself as she thinks my hubby is a great cook. She and my mother bring dishes to take home leftovers. It took over 6 months of growth plus him trimming and shaping my hair to recover from the bad salon haircut. He is very detailed and does my hair as I like it. I am picky about my hair and I see so many women and their children working around with really bad haircuts from the salon and barbershop. I consider my husband’s work as like being a craftsman, very detailed, has to be done right as it is yours versus hiring a contractor that is looking to cut corners, use cheaper materials and rush through the job with no pride in workmanship. My guy takes pride in his work and wants his lady to look pretty. My best friend stopped by to see my guy cut my hair as I mentioned he was going to be trimming my hair the night before. She watched very intently, complimented him on doing a very nice job on my hair, hinted she needed hers trimmed and when he finished my hair, she said, I’m next! He said ok, caped her, did the full sectioning and trimmed her hair layer by layer. She was very pleased and stops by to “visit” and have him cut her hair. If he didn’t do nice work, she would never have asked him to cut hers the first time, let alone ask him to do it again and again. I guess some guys are insecure and think there is something unmanly about cutting a women’s hair or just aren’t willing to make an honest attempt. I’m glad my guy isn’t weird about it. I actuall look forward to the bonding time as he pours me a glass of wine for me to sip while he gently combs out my hair, capes me, etc. he does make me put down my phone, keep my head straight when he is trimming, but we do take breaks so I can sip my wine. He doesn’t yank my hair or jerk my head around. Feeling the comb run down my back is like a massage and it is so relaxing I could fall asleep. I am pampered with my free hair salon.
    
    Reply
    1. Rick, Bri and Howie says:
      
      July 9, 2018 at 9:17 am
      
      That’s awesome carolyn! He should start his own salon! Cheers, Rick
      
      Reply
Dave Savadge says:

July 3, 2018 at 4:05 pm

This article serves as an excellent high-level overview. Glad you referenced Howie’s prior video, since that, plus your commentary just about sum up all there is to know about shopping.

I agree with 95% of what you say, however personal experience has taught me that overall, men’s shoes are way too expensive. Many years ago I found a cheap set in my size at Payless Shoes. They fit perfectly, needed no break-in, and were comfortable. In fact, they are the only shoes I wear, except for my boots. A pair lasts about 8 months to a year before wearing out, then I toss them in the trash and open up a another shoe box that contains a new pair. Whenever Payless held a sale, I stocked up. I think the closet still holds two unopened boxes.

Who buys lingerie at the dollar store? Well, I might, if I were in a one-night-only bodice ripping mood and my favorite blonde felt inclined to participate in my fantasies.

Reply
1. Rick, Bri and Howie says:
  
  July 4, 2018 at 12:14 pm
  
  Thanks Dave. Good strategy re: shoes. I have had good success buying running shoes online and employ the same strategy as you – I buy a couple extra pairs and after 8 or so months toss them and use the next pair. Too funny about the ONS w/ your favorite blonde. Wishing you guys a happy 4th!
  
  Reply