Trying to live frugally, but it’s not actually saving you money?
If that is the case, then you might have fallen for one of these frugal living myths, which actually cost you money rather than helping you save.
You might think you’re being a true financial guru. But these six myths you’re holding onto about frugality are probably getting in the way of your financial freedom.
Buying In Bulk Is Always the Right Move
Many people, even frugal ones, automatically assume buying in bulk is better. But what if you can’t use it all before it goes bad? Or what if you’re buying something new and you end up hating it? We only recommend bulk purchases for things you like and use.
You Have to DIY Everything
Not only do you not have to DIY everything to be frugal, but we’d recommend against it; there’s nothing worse than spending time and money on a DIY home improvement project, only to need to call a professional to come and finish the job. You could’ve spared the expense and called them first. And in many scenarios, that’s exactly what you should do.
Cheap Means Good Value
Cheap does not mean good value. It arguably means the opposite more often than not. Just because something is a good price doesn’t mean it’s worth buying. The inverse can be true, too; something expensive isn’t necessarily higher quality. Do your research about your options and see what makes the most sense for your budget.
A Discount Is Always Worth It
Too many people throw something in their cart just because it’s on sale. But ask yourself this: would you still buy it if it weren’t on sale? You’d be surprised how often the answer is no, and how often you say yes is keeping you from living a frugal life more freely.
Frugality Is Only for Those Who Don’t Have Money
How do you think the people who have money got there? Yes, there are the independently wealthy and smart investors. But tons of people are financially secure because they practiced frugality in some way. And since it got them clear results, they see no reason to stop now.
You Can’t Have Fun and Frugal in the Same Sentence
Contrary to popular belief, a frugal lifestyle can be not only fun, but it can spark your creativity, too. The more you have to stretch your imagination as you stretch your dollar, the more you realize that the fun was there all along: not at the bottom of a shopping cart, but in spending quality time with yourself and the people you love and doing it stress-free, thanks to your restraint with money!
