If you’ve been reading Frugal Tips, then you probably know that I’m a huge fan of the free market system and I’ve been in favor of giving people what they want and getting rid of the waste that is produced in a system. It’s very easy for us as humans to get caught up in these wasteful spending habits that we’re so familiar with, and it seems like everybody can’t stand when we give them more than what they paid for.
For example, if a person wants a car and they’re willing to pay for it, they’ll usually go out and buy it, or at least go through all the expense and then make an attempt at paying for it through financing. They end up spending way too much money on it because they have no idea what kind of payments are realistic. When they finally do go ahead and get that car, they realize that they spent way too much money and they now have a large payment to make each month.
The good thing about using finance when buying a vehicle is that we don’t really have to make any kind of payments on it. In fact, the money that we save will more than pay for itself because we can put that money into other things, such as education, saving for retirement, and many other things that will help to pay for our future. So there really isn’t any waste from this situation.
Another example that I use a lot is with clothing. I’m not a big fashion guy and I like to buy my clothing secondhand so that I know that there are no holes or damages. However, I have seen many people that spend a fortune on brand new clothes that have holes or tears all over the place, and I’m sure they spent a few more dollars on repair costs than they would have if they’d just bought their clothing new.
There’s so many ways that these same people were able to spend far less than they would have had they just bought the clothing that was originally being offered. I use some of these same strategies myself by buying items secondhand, fixing up some of the ones that I can fix myself, and I never have to worry about buying another set of clothes again. I just throw them in the washer and dryer.
It’s been a great experience for me, but I would encourage other people to learn more about these kinds of ideas that they can put to work themselves by purchasing Frugal Tips and see how much money they can save in the process. There are a number of other ways to save, such as making extra payments every month on credit card accounts, getting cheaper auto insurance and not buying so many things at the grocery store, or online and many other things that could help save you a lot of money.