Stop Doing THIS: Frugal Myths That COST You Money

you're convinced that The Frugal habits you're using are saving you money what if I told you you were wrong that the things that you are actually spending your time and money on are costing you in the long run hi everybody my name is Sarah thank you so much for joining me today if you don't know me I'm the owner of Frozen pennies.com I'm a Certified Financial coach and life coach and as a family we are debt free we're talking about a few FAL myths that I have uncovered that are actually not saving you as much money as you would hope if they are saving you money you're spending a lot of your time doing them in the long run is it worth it for years my husband has had a saying that he's used often in our lives we have more time than money this was in reference to things like building onto our house or doing yard work or Paving the driveway things that we DIY and when I say we I mostly mean him DIY because we had more time than money even though he was working a full-time job and helping take care of a family he still had more time than he had money so these are some things that might really be a little bit I'm not sure if I want to use the word controversial but people have strong beliefs about these items that I'm going to go over with you so I'm going to also give you my opinion on this as well as just stating as factual as I possibly can let me know in the comments about these do you agree agree with them all are there some that are like no way this saves me more money and I spend very little time on it or are they a Time suck and a money waster gardening from raised beds building Planters hauling in dirt if your soil is terrible compost fertilizer the buying the plants that lows our Home Depot or your local Garden Center the seeds buying the seed all of this money that you are spending is it less expensive to just buy it from a roadside stand or a good priced farmers market or even a grocery store because sometimes when the stuff is in season the grocery stores will put it at a better sale or are you actually saving money by having a garden not to mention you have an abundance from your garden now you have to invest in preserving them whether it be a freezer to freeze them canning s in a canning pot in order to can and preserve them is it worth the time and the money buying quality it was said by somebody in my community that they rather buy the cheap version first because you never know if the cheap version is going to be just what you need and enough then you won't have to go spend the amount of money on the quality version now the problem that I see with that is if you buy the cheap pair of shoes shoes and you wear them once and they kill your feet in your back is an Agony then you have to turn around and go buy the quality higher end shoes so that doesn't happen you then have spent the money on the cheap already when maybe you should have gone directly to the Quality first Extreme Couponing now I do know that this exists on a specific level not like it used to 10 15 20 years ago but people are still making videos on YouTube on Extreme Couponing and the workarounds and the way to do it is it worth spending all of that time on the computer looking for the deals then going to all the stores on the day that the sale starts so you can piggyback and stack the coupons is it worth the time you take to prepare and to go after the deals and also are you buying things just because it's a super good deal and then the food ends up going bad or you donate it is it worth all of that to buy foods that you don't necessarily like just because it's a good deal and then the food goes to waste and you've wasted the money as well spending in order to be more energy efficient say you have a freezer that works great is a decent freezer still freezing still doing the job but it doesn't have the energy star and you have one of those cool gadgets that you plug in to see how many watts of energy it's using you find that it's using probably more than it should be because of its age and you know that the newer freezers are much more energy efficient do you just go buy a new freezer because it's more energy efficient or do you suck it up pay the electric bill even though the wattage used is a a little bit higher but it's still a good freezer upgrading I see a lot of people on Marketplace selling just fine appliances and items because it's time for them to upgrade they want a new front loing washer even though their washer is working fine but the dryer isn't working so well and they really want those front loading washer and dryer they'll ditch the dryer not get it fixed and then sell the washer because they want the matching appliances this is that whole thing about saving money in the long run instead of fixing it because it's old and it's going to break down and you're going to have to fix it again and then the washer is going to need to be fixed and everything is going to need to be fixed time and time again are you saving money in the long run or are you just upgrading because it's cool how frugal are you actually being by investing now for the future how Frugal are you actually being and saving money on getting it fixed by upgrading are you just using that as an excuse to get a new washer and dryer bundles on things for example let's talk about in my area our cable company has phone internet and cable TV it's a bundle and they advertise this as cheaper in the long run rather than paying for it separately however we're talking $23 $250 for just regular cable package your home phone and your internet that's a lot of money I know for a fact if you separate those out and try different companies for different things you can save hundreds if not thousands of dollars a year meal bundles and meal subscription services are the same way they're bundling the entire ingredients for that meal in a box and sending it to you but you're paying astronomical prices they advertise that these meal bundles and meal subscriptions are cheaper than grocery shopping I disagree I think you're looking at twice to three times as much money yes the convenience is there you get everything you need for a meal delivered right to your door in little little cooler box but it's not cheaper dollar stores many people are saying that the dollar stores just aren't worth it anymore because they're discontinuing the dollar price tag now many of the dollar stores in my area have gone up to $125 but they've also combined the Dollar Trees with the Dollar General stores together so when you're going in you're thinking everything is a125 when you're not looking at the signs and some things are five some things are are three some things are $10 you have to be very careful when you're in the Dollar Tree stores anyway because many of the things that they're selling are not even a125 in say Walmart or Target or on Amazon be diligent in knowing the prices of the things that you're shopping for if you're going to continue going to the Dollar Tree for these items buying and bul now I know sometimes this is so so much more frugal than buying individual things however pasta for example buying pasta in bulk at some place like BJs or Costco may not be the best Frugal option you think it might be until you do the math that's very important you have to do the math when you're looking at bulk purchases if you have a place like windco their bulk prices normally can't be beat anywhere depending on where it is in the country that you are you will find the cheapest versions sometimes but not all the times when buying in bulk buying things on sale if you say find mayonnaise on sale for $2.99 for helman's mayonnaise that's a great price around here I would probably buy five of those because the expiration date on those is a long time and we'll use those five in that expiration date time period but if you're buying too many of them that you're not going to use before they expire then it's not worth it being Frugal and getting something at a cheaper price isn't always the Frugal option if you're not going to use it also buying things just because they're on sale may not be the best option either I know that years ago when I was into the whole Extreme Couponing thing and buying things on sale I was buying things that nobody was eating it's not worth the dollar juices if nobody's going to drink the juice much less buying 20 of them at a time DIY Home Health Care remedies now this one is a little bit controversial now I have a good friend her name is Gretchen from adarand De aroma therapy she's been a certified Aroma therapist for 30 years she has a little shop she has a website I'll leave a link below for you to check her out it's the best place to get essential oils if you love that but if you're using them instead of maybe going to the doctor if you have deep chest congestion and you think that I'll just put some oils in the diffuser and I won't have to go to the doctor that might be a waste of money for you you've invested the12 into oils and you're using that instead of going to the doctor where it could possibly be that your chest congestion could get worse and say turn into pneumonia you might want to consider instead not relying on those home remedies as much maybe trying them first for a short period of time but then still going to the doctor we all know healthc care is expensive but don't let it be at the expense of your health consider more preventative care from your doctor instead of just relying on things like oils and home remedies Okay so this is me uncovering the cost of being Frugal whether or not it's actually worth it to be frugal or will you end up spending more money in the long run thank you so much for joining me today I truly appreciate you and have a great day bye-bye

Channel: Frozen Pennies

Views: 10,648

Keywords: frugal living, save money, frugal living tips, habits of frugal people, frugal living hacks, money saving tips, personal finance, how to save money, saving money, frugal living habits, frugal habits, frugal living tips and ideas, frugal hacks, frugal tips, frugal living ideas, saving money tips, frugal lifestyle, living below your means, living frugally, frugal living family, frugal household hacks, frugal tips to save money, frugal tips and tricks, how to be frugal

Id: Kz4Av7LB8M4

Length: 11min 44sec (704 seconds)

Published: Sat May 25 2024