What? What did that title say? How can spending money be frugal? No, this is not a weak attempt at rationalization. My husband proudly tells everyone that I can pinch pennies out of rocks. And while I hate spending our hard earned money, even I know that there are certain times when exercising the cash or the credit card can save you big bucks in the long run. Here is how.
Spending money on better quality goods. I’m guilty of trying to get the cheapest item for the money, but that isn’t always the smartest thing to do. Sure those $5 t-shirts are hard to pass up, but if they shrink the first time you wash them, then you’ve wasted money. A $15 t-shirt that looks great and holds up for years is the better bargain.
We once bought off brand cotton swabs. No one would use them because they were sharp and fell apart. So into the trash they went, and that was money wasted.
Spending money on something useful. For years, I have been eyeing up a famous name stand mixer. I’ve searched yard sales, thrift stores and auctions, but I could never find one for under $100. There is a good reason for this. Most people who own these mixers never give them up. Some of these mixers have even been passed down for generations.
My husband made the very good point that since these mixers last for generations without replacement, it would be better to buy one as soon as possible. This way the cost of the mixer is spread out over a longer period of time, and the yearly cost of the item shrinks. For example, if the mixer cost $250 and we can use it for 25 years, that is only a cost of $10 a year. If I waited so long that we were practically gumming our food and could only use the mixer for five years, the annual cost rises to a whopping $50 a year.
So as soon as a decent sale came along, I purchased my mixer. I’ve already used it very often, from baking breakfast muffins to making double batches of meat-loaf. Oh, and if anyone is wondering, I got the mixer in white–a frugal color since it will fit in with changing decor through the years.
Spending money on maintenance. Maintaining your car or home on a regular basis will save big repair bills later. While we all know this is a good idea, sometimes the frugal person in us tries to stretch things out a bit. A former co-worker of mine ruined his transmission by not changing the fluid on time.
What was your best and most frugal purchase?
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