So I’m known to be the penny pincher in my house.
Cheap is the name of my game however, being too cheap can lead to issues.
Recently I broke down and financed an expensive phone.
Why would I do that when there are so many great affordable ones?
- Budget phones burn out after a while
- The preinstalled software takes up room that you can’t get back.
- Restrictions set by carriers who own the phone
A hard lesson I’ve learned is you end up buying more cheap products along the way when you could spend the money once on a product that will last. At that point are you even saving money?
Things that are okay to
be cheap on
- Generic products
- Some household products
Things that are not okay to be cheap on
- Work shoes
Being cheap is good to a certain extent is what I have found.
Lesson one: the get you by phone is a bad idea
If you are super frugal buying that get you by phone turns into a cycle of buying that every 3 months give or take
Lesson two the cheap stuff doesn’t always hold up
That cheap toaster might last you or you could be buying another one every year. Which for some might be okay but I’m sure you would rather go years between purchases.
Lesson three you end up spending about the same over time
Long term that cheap product you buy over and over ends up totaling to what you would have spent buying the decent product that lasts.
Lesson four warranty on expensive items
Usually the cheaper you go the worse the warranty on products like appliances and laptops. There are some products to where even the cheapest puts a financial dent and having a warranty and protection in case of failure is very important.
Lesson five saving your sanity
Overall being overly cheap can drive you insane over time from skimping on everything. Initial purchases may hurt but over the long term you end up being glad you did. Sure bragging rights are great for saving the dollar but when that product breaks soon after you want to throw your hands up.
The point of this is not to go out and always buy the most expensive thing but be more mindful of how being too cheap can hurt.
Most of it is long term but as a mom the last thing I want to deal with is buying a product over and over. There’s just not enough time in the day.
Being frugal is great being cheap isn’t always a good idea.
Have a great day and let me know what you though about this post