Have you ever seen a piece of advice, and all you thought to yourself was,
“Yeah, that is not going to work,”
Or, “Maybe it worked a few decades ago, but it won’t now.”
Then you are in good company!
Outdated or Wrong?
A Reddit user posted on the “Frugal” subreddit and asked, “What’s an outdated or just wrong piece of frugal advice you see repeated?”
The subreddit members had impressive answers to this question, and we picked some for you. Read on.
Not Using Credit Cards
The top commenter in the post said the worst financial advice they ever received was, “Don’t use credit cards; use cash for everything.” – an easy way to not have an excellent credit score when you need a loan. Use the cards and pay it off monthly.”
Get the bonus!
Many people think they are being good with their money by never using credit cards, but they are truly missing out on lifting their credit scores and the other bonuses that come with it.
And lastly, “You’re leaving money on the table if you’re not using a CC. They offer cash back, airline miles, and other perks (free TSA pre-check, lounge access, rotating discounts on stores/merchants). Dealing with fraud or identity theft is easier with a CC too. As long as you pay each statement in full by the due date, there’s no downside.”
DIY Projects
Many users agreed that many DIY projects are more expensive than having professionals do them for you. They noted that it is even more costly if you start from scratch.
Another added that it might pay off only if you do the DIY projects as a hobby.
One said, “DIY. Not everyone has thousands of dollars worth of equipment and the skills to build something cheaply.”
Another one had a reason why DIY does not just work for everyone, “DIY – not everyone has the time, especially if they work 45+ hours a week plus if they have children or other obligations on top of that.”
More Expensive
Another used figures to give a clearer perspective of how the projects turn out, “Build this $800 item for only $80!” Proceeds to use $20k worth of equipment to build the item.”
And lastly, “This is the same kind of deal with gardening sometimes. I love to garden to save money on tomatoes, but only because I was doing it as a hobby. The average bear will probably not come out ahead if they’re starting from scratch and wouldn’t do it for any other reason.”
If you plan to do it in the long term, already have the expensive tools, or could borrow them from friends or a library, it could be worth it.
Failing To Put Value on Time
One commenter suggested he would rather spend his money and save time, and not vice versa.
He said, “People don’t account for quality or time. Yes, I can clean my house, mow my lawn, and fix whatever is broken, but all of that takes time, and it won’t be as good as some who do it for a living. You can always make more money, so be frugal with time than money.”
Another added, “Money buys time. You pay someone to do the {stuff} you don’t want to do, so you have time to do the {stuff} you do want to do.”
Delivery Services
Many frugal people dismiss delivery services from grocery stores as they cost extra. However, one user begged to differ as these services have helped them.
They said, “Delivery services. I do Walmart delivery all the time. I save on impulse purchases, it’s free, and the $10 tip saves me so much time and energy. Plus, I can examine the price/weight in more detail. My kids can’t beg for stuff or sneak things in the cart.”
Another added, “Grocery pickup from Walmart has been a huge time and money saver for us. It forces us to plan meals and consider what we do or don’t need. It also cuts out impulse buys which is great.”
DIY Soap Recipes and Detergents Are Not Just It
Be in any money-saving or frugal community, and it is guaranteed that this discussion will always come up at least once a month. It is not just as effective, and people should let it go.
One commenter said, “Making your laundry detergent. It’s performative frugality and a tremendous waste of time. Powdered detergent is cheap.”
Another added, “Many DIY recipes are soaps rather than proper detergents. They won’t get clothes as clean and leave a residue that needs to be stripped more often to prevent stink and grime. The best frugal laundry tips are to use cold water, skip the fabric softener, and reduce the detergent used because modern ones are pretty efficient.”
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This article was produced and syndicated by A Dime Saved.
