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In the face of 40-year high inflation, you can’t help but watch your wallet get thinner. In fact, more than a third of American adults are tapping into their savings accounts to cover increased living expenses, withdrawing an average of $617 during the first six months of this year. As nearly everyone is feeling the effects of skyrocketing costs of everything from fuel to rent to groceries to entertainment, we could all use some helpful tips and tricks to stretch our dollars.
Being thrifty and finding ways to pay less for everyday goods is generally the way to go. But have you ever heard the saying "I’m not rich enough to buy cheap"? Turns out, some tactics that help reduce spending now can easily cost you more in the long run — whether in time, energy, or money.
So when one user reached out to 'Ask Reddit' inviting people to share "false frugalities" — low-cost things that turned out to be expensive — most people are unaware of, the thread immediately became a hit. We’ve gathered some of the most illuminating responses to share with you, so continue scrolling! Be sure to upvote the ones you agree with and then chime in with your own experiences in the comments.
Psst! After you’re done with this list, check out Bored Panda’s earlier piece with tips on how to live more frugally right here.
This post may include affiliate links.
#1
There was a sub about how to budget food/living expenses. And the ideas that people had were ridiculous and required you to be financially well off enough to facilitate their idea of what saving money is. I don't think I received advice from anyone who knew what it was like to be poor, or actually truly need to responsibly budget their funds.
One guy wanted me to plant a garden to grow some carrots or other veg. I explained that I have a small apartment, and that carrots are a dollar for a big bag. He actually got uppity with me and became a total shithead when I explained that I live in a small apartment in the middle of the biggest city in canada. There is no benefit to turning half my apartment into a garden so I can grow five bucks worth of veggies in a few month's span. I can't just go outside and plant vegetables. It's also cold here 9 months out of the year.
I got berated out of the sub after pointing this kind of s**t out numerous times.
#2
Bottled water. It's marketed to appear that it's healthier and cleaner than tap water, plus the plastic bottles are not sustainable. Just buy yourself a thermos or reusable water bottle and stop buying overpriced plastic with over-glorified tap water included.
#3
Cheap batteries. They don't last, they don't work well, and many of them are duds. When I was in high school, I always, always listened to my discman. One day the batteries died so I walked up to the gas station and chose between the Duracell batteries and the bronze-colored batteries. I bough the cheaper no-names and they died before the day was over. And I had to go through social studies without music.
I learned two things that day; WWI history, and not to buy cheap batteries.
#4
"Rent is throwing money down the drain"
Owning a home is not always smart. It can be, but not always. It's not just the house cost, but costs in taxes, interest, insurance, repairs and maintenance, etc.
Then there's opportunity costs. I know folks who can't move until they sell, and can't take better jobs cuz they can't move. A house can be a big anchor in some contexts.
#5
Cheap, single ply toilet paper. You end up having to use way more just to get the same effect of the good stuff.
#6
Aggressive lane changing while driving.
All that accellerating to get into the "better" lane just wastes fuel, and you save a negligible amount of time.
There was a small TV documentary here in Australia I remember watching that did tests on it. They sent two drivers across Sydney in rush hour traffic: one who would change lanes only when it was absolutely necessary (obstructions, turnoffs, etc), and one who was super aggressive changing all the time.
The aggressive driver got to the destination 2 minutes earlier, though with *80% more fuel consumption than the other driver*.
#7
I once watched a show about extreme penny pinchers. One episode depicted a man who spent about 3 hours a day riding his bicycle or walking around looking for dropped change around pay phones, gum ball dispensers, etc. The whole time I couldn't help but think that even a minimum-wage job would yield him more capital for his time, especially once you factor in bicycle tubes and shoes.
In general, people of this nature fail to realize that the benefits of having money is its positive influence on your quality of life. When your quality of life suffers in order to save money, you've completely reversed your priorities to a mind-boggling level.
#8
All construction.............do you want it done cheap? or do you want it done right?
#9
Not going to the doctor/dentist!
Wellness checkups are important. Your prognosis will always be better if something is caught early on.
#10
Surprised I haven't seen this yet; using third party hotel booking sites. The sites guarantee you a room and a price but not the type of room you requested. Calling the hotel directly will not only guarantee the room you want but often they beat the price of the websites. On my last trip a particular site favored by an Enterprise captain quoted $129 a night, when I called the hotel they gave me $79 a night.
#11
Doing the dishes by hand vs. using a dishwasher. The dishwasher requires a lot less water, time and energy.
#13
I saw a popular comment here a couple weeks ago talking about reusing those little handwarmer packet things by slicing them open and adding more magnesium flakes obtained by shaving down sparklers.
For f**k's sake, just buy some new handwarmers.
#14
I knew a fellow who owned one of the most expensive houses in town, but was too cheap to run his swimming pool filter except when he was actually swimming. With virtually no filtration, the water would get thick with debris and algae. He would then by stuff to kill the algae, but then he would have water full of dead algae. And the crud would stiff on the pool bottom, making it very hard to clean off. He spent way more on chemicals than he would have spent on electricity. The owner of this cement pond was a retired rocket scientist.
#16
i went to greggs, a well known bakery in the UK. I bought a sandwhich and a drink. as i went to pay, the guy offered me the meal deal. "a sandwhich a drink and crips (chips) for only £1.99. a sandwhich and a drink was £1.59. the sandwhich was £1 and the drink was 59p. by themselves, crisps (chips) were 20p but as part of the meal deal they were 40p. this means that the SPECIAL MEAL DEAL OFFER was more expensive than buying each item individually. CLEVER F*CK***
#17
Heating and air-conditioning. Being uncomfortable, irritable, and unproductive isn't worth the few hundred dollars you save by lowering the heat or not turning on the AC.
#18
In many cases, buying a name-brand product with a coupon is *still* more expensive than buying the store-brand.
Or, buying something just because it's on sale, but not necessarily because you need it.
#19
Mobile phone contracts with a free iPhone etc.
You think you're getting a good deal with a free phone but with 35 pounds a month contact for 2 years, they really screw you.
#20
Buying heavily used cars, sometimes. There are exceptions, but all of my friends who religiously buy the cheapest car they can find are always having trouble. Very expensive trouble, that sometimes adds up to close to the cost of a new car, or at least a better maintained used car.
#21
Travel and times: A lot of people take the cheapest flight they can find, but to me, saving 50 bucks on a $500 ticket isn't worth a 7am flight or a red eye.
#22
"Buying that rent-to-own laptop Consumer Reports checked out is equivalent to paying 311% interest, which is far worse than the 30% interest rate you see on crummy credit cards.
#23
Buying a big cheap house far from your common destinations.
You will pay with time, petrol, housework, sleep, your relationships, and/or career
Instead:
1.Buy or rent a small house with a 10-30 minute commute.
2. Let happiness ensue.
#24
Home brewing beer.
It's a wonderful hobby and I highly recommend it, but don't think you're going to save money.
#25
Extended warranty
You think you are saving cash on the off chance the product you bought doesn't hold on and you need repairs, but I don't know anybody who has ever been happy about this choice
On the opposite end of the spectrum, car insurance for rental cars. My father and his colleagues used to travel the world and rent cars for several weeks at a time. It would only take one car accident in all those years of renting cars to justify the cost. Many of these rentals were for off-road use. The rookies thought to save cash passing on the insurance and would eventually shell out thousands on repair
#26
Cloth diapers. You still have to buy special (expensive) detergent, and run so many loads in the washing machine. I worked it out when we started cloth diapering 3+ years ago, and it cost the same as if we just did disposable diapers.
Plus all the TIME put into washing/drying/assembling.
I like cloth diapering, I do recommend it, but I hate when it gets lauded as a cheap alternative.
(Edit: Yes, really, you do have to use specially formulated detergent. You don't? That's cool. Your diapers are getting build up of both ammonia and detergent. Good luck with that smell and the leaks, and that is coming from experience.
Also, nowhere did I mention the upfront cost of the diapers themselves. When I talk about price, I'm talking about water and electricity bills.)
#27
Being cheap with anything you’re going to use a lot or over a long time. Better to spend $180 on a single frying pan that will last 10+ years than buy a $40 frying pan each and every year because they c**p out so easily no matter how careful you are with them. This metaphor, of course, fits the bill for almost any frying pan that is non-stick or costs less that $100 to begin with.
#28
Leasing a car instead of buying one. I'm not gonna get into the specifics but it's pretty much always more costly
#29
Justifying the purchase of anything solely because it's a "good deal." I hear this misconception all the time.
If you spend $100 on shoes, even if you bought it at 99% off, you're still out $100. You haven't saved a penny, and that'll be a real problem if you needed that $100 to pay your utility bills.
Edit: clarity and $10,000 shoes.
http://www.luxist.com/2010/02/26/louis-vuitton-offers-10-000-alligator-wingtips/
#30
Professional home repair services. Real companies have insurance, you can sue if things go wrong. Some handyman that someone knows is likely going to do something that violates a warranty, will be judgement proof, and won't get a permit.
#31
People with flex fuel vehicles buying E85 instead of gasoline. The reduced mileage you get out of E85 eats up any saving you get at the pump.
#32
I know people that skip going to the doctor until the last minute to save the office visit payments. It's a terrible idea since by the time they get there the simple cold turns into pneumonia and costs much more to heal.
#33
Not paying off your mortgage to save the tax breaks...
While it is nice to save taxes, the long term financial benefits are astronomical when you free up a mortgage payment.
#34
Dining Plans at college. I literally could go out to eat for every meal for the price of them. And I often did. I saved a ton of money because I don't eat that much/snack more often .
#35
Supermarket specials.
Next time you go shopping, grab a calculator and work out the cost per 100 grams (or whatever equivalent weight) and you'll almost invariably find that the products with the big 'Sale!' signs are not the cheapest.
Of course it's impractical to do this with every item so you can of course estimate, or shop at a store that all ready has the cost per 100 grams of the price tag like I do.
#36
Shaving with a straight razor. It's a larger down-payment to start into it (simple but nice razor, strop, and brush cost me about $100), but I recouped that in less than a year just by not buying more cartridges. In theory, a razor will last pretty much forever, for free.
Here's the problem, though. I nicked my blade and had to repair it, so I bought about $80 worth of reworking stuff (much less than I could have spent). Then I bought a fancy 1930's blade and restored it. Then I bought a better brush, and a better stop, and a better shave mug, etc.
I started because it appealed to my practical side. Then it quickly became a ritualistic money hole.
#37
A $5 pair of sneakers is not a deal, no matter what your wallet says.
Maybe consider them if you only need shoes for another month...
#38
Where I work, we do price adjustments on products that have gone on sale since the customer purchased them. Most of the time, the refund isn't worth the amount of time, energy, and gas the customer uses driving to the store.
#39
Steam sales. You think all these games are a great deal, but you end up playing very few of them and proceed to buy new games you would buy anyways. Remember, you didn't save $7.50, you spent $2.50.
#40
Stopping at Costco for just one thing because its cheaper than the grocery store. Sure I save 3 dollars on the initial item that I went in to get, but the bill at the till always seems to average 400 bucks.
#41
Cheap legal services.
A good lawyer that takes 3hrs at $300 an hour will do a much better job far cheaper than a shitty lawyer that takes 5hrs at $200 to do the same job.
This is partly why good lawyers are so expensive - because they're cheaper.
#42
People overinflate the hell out of their tires to get better gas mileage, then have to spend much more to get new tires when they wear out far sooner.
#44
Restaurant specials. It's rarely cheaper and it's typically food that is about to go bad and needs to be sold instead of thrown out.
#45
Hybrids. Sure, you save $200-$500 dollars a year on gas costs. But every 5-10 years you will have to replace the battery pack, which can go from anywhere from $2,500 to as much as $6,000, especially on some of the new electric cars with larger packs. Not to mention the initial bump in price you pay with most hybrids. You add a small cost for low rolling resistance tires every time you change them.
Furthermore, the so called point of a hybrid car is saving the environment. The materials used in hybrid cars, specifically the batteries and other components that require rare earth elements, not only require more energy, but put out more harmful types of chemicals than traditional processes. The story gets worse if you go with a plug in hybrid, as 60% of wall power comes from coal plants, a less cleaning fuel than gasoline.
What do you think ?
Froynlaven 2 years ago
Sounds like a wealthy person that has no idea what it's like to be poor. I disagreed with most of the examples they gave.
PattyK 2 years ago
Agree. I’d like to see the math behind some of these claims.
Load More Replies...
Dacă nu pierdeam, câștigam 2 years ago
We also need to consider how saving money is much easier when you already have some. Yes, good-quality products are costly and save you more money in the long run. But if someone is poor, they can't afford to buy the more efficient product. And they have to buy the cheap, low quality one, changing it often and being forced to waste money. Financial wisdom is useless if you don't have the money to apply it
Paula Glasscoe 2 years ago
Have you read Terry Pratchett? Look up Vimes’ boots theory of economics
Load More Replies...
Jess-a-men 2 years ago
Several of these rely on the assumption that poor people can just - for example - spend 100 dollars once a year instead of 20 dollars every month. But always remember Captain Samuel Vimes "Boots" theory of socioeconomic unfairness: A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
Mary Jeffries 2 years ago
One thing I read that makes a lot of sense is that if you can afford a quality pair or jeans (example) that fit well and you know you’ll wear them often, the math can pencil it out for less cost per wear than something that doesn’t fit well you don’t enjoy wearing. I wear my Birkenstocks almost daily until they are literally falling to pieces ever 3-5 years so I feel ok splurging on a new pair when I need one. This only works if you do t get the poorly fitting ones too.
Phoebe Bean 2 years ago
If your winters are extreme, please invest in good, good coat and boots, if possible.
Jessica J. 2 years ago
Buy a good bed...not a cheap one. You will spend at least a third of your life in it, after all. It may take awhile to save up the money, but it will be worth it.
ShayXie 1 year ago
I had a much younger roommate awhile back, and I remember him explaining to me that he would rather drive to his dads house to fill up his tires for free than do it at a gas station for a couple dollars. I pointed out that his dad lives 20 miles away, so he'd be spending 40 miles of gas money to save that couple dollars...but his expression stayed blank...
Jay Son 2 years ago
Didn't see Black Friday mentioned. I mean, there are definitely deals but very often there are also "deals" that, if one kept an eye open throughout the year, are not actually new or even a deal. Another one is those "going out of business sales", where everything gets discounted... Except, it's often over the initial suggested price. I've seen things being sold at prices higher than they were at a competitor that was still in business, yet people thought they actually got a deal out of it. Guess I should say: look around, don't blindly buy based on that one discount.
Telepathetic 2 years ago
"High interest savings account" Banks in my area pay One Cent per One thousand $$ per month
Dacă nu pierdeam, câștigam 2 years ago
People who have the money to buy a gas heating system in their home, but choose to remain on firewood heating because "the gas central is very expensive, wood is cheaper". However, on the long term, wood is usually more expensive
Becky Samuel 2 years ago
Wood burning is also catastrophic for air quality, both inside and outside the home.
Load More Replies...
Susie Evans 1 year ago
Dr Phil, before he got Jerry Springerish and I quit watching him, did a show on tightwads who were costing themselves more in man hours, if not actual money, by doing such things as going from one fast food place to another, stealing packets of mustard and catsup and squeezing them into an old store bought bottle. It would take him two hours to gather the packs and fill one bottle. At $5 and hour which was minimum wage at the time, he was expending $10 to save $2.50.
Mary Peace 1 year ago
Susie that's true, but some people have more time than they know what to do with. Maybe they don't care about minimum wage.
Load More Replies... 
Penny Kemper 2 years ago
How about supermarkets that add barbecue rubs to meet. Don't buy it, that meats going bad!!!!
Michelle E Parker 2 years ago
For the first time EVER I have a dishwasher and I have only used it 3xs I used to say if I had one I'd never wash them again- so much for that one lol
Sean-Paul Bobadilla 1 year ago
Poor people know that being poor is expensive. We need things now but can't afford a good one so we get what we can. And the result is endlessly replacing crappy stuff and never getting to have nice things. Look up the Vimes boots theory of economic inequality.
Jerusalem Cat Syndrome 1 year ago
People, for the most part, these are general examples, not specific to your particular situation, and yes, subject to some caveats, but most of the replies start "not always". No, not always. And, yes, it's also true that sometimes you don't have the money for the better stuff, no matter how much is saves in the long run. I still wouldn't throw out a lot of these suggestions.
Jason Doakes 1 year ago
Check youtube for extreme cheapskates (especially look for title: cooks lasagna in the dishwasher)
Meghan Wood 1 year ago
I encourage you all to join me for “NO BUY JULY”!! For just one month, don’t buy ANYTHING but essentials (food and gas, etc) Borrow big items, clothes for special occasions, etc from friends: If you absolutely need something, buy it second hand, or with old gift cards (I save mine up for lean months). Cook at home, and forgo the delivery services. Many low Income households live this way, and it’s pretty eye opening to see how much you don’t really need.
BlueCat 1 year ago
I encourage *you* to join me for 'stop telling other people how you think they should live summer*! Simply stop 'inviting' people to 'join you' for various things to change how they live. It's pretty eye opening to see how much advice you don't really need.
Load More Replies...
Froynlaven 2 years ago
Sounds like a wealthy person that has no idea what it's like to be poor. I disagreed with most of the examples they gave.
PattyK 2 years ago
Agree. I’d like to see the math behind some of these claims.
Load More Replies... Dacă nu pierdeam, câștigam 2 years ago
We also need to consider how saving money is much easier when you already have some. Yes, good-quality products are costly and save you more money in the long run. But if someone is poor, they can't afford to buy the more efficient product. And they have to buy the cheap, low quality one, changing it often and being forced to waste money. Financial wisdom is useless if you don't have the money to apply it
Paula Glasscoe 2 years ago
Have you read Terry Pratchett? Look up Vimes’ boots theory of economics
Load More Replies... Jess-a-men 2 years ago
Several of these rely on the assumption that poor people can just - for example - spend 100 dollars once a year instead of 20 dollars every month. But always remember Captain Samuel Vimes "Boots" theory of socioeconomic unfairness: A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
Mary Jeffries 2 years ago
One thing I read that makes a lot of sense is that if you can afford a quality pair or jeans (example) that fit well and you know you’ll wear them often, the math can pencil it out for less cost per wear than something that doesn’t fit well you don’t enjoy wearing. I wear my Birkenstocks almost daily until they are literally falling to pieces ever 3-5 years so I feel ok splurging on a new pair when I need one. This only works if you do t get the poorly fitting ones too.
Phoebe Bean 2 years ago
If your winters are extreme, please invest in good, good coat and boots, if possible.
Jessica J. 2 years ago
Buy a good bed...not a cheap one. You will spend at least a third of your life in it, after all. It may take awhile to save up the money, but it will be worth it.
ShayXie 1 year ago
I had a much younger roommate awhile back, and I remember him explaining to me that he would rather drive to his dads house to fill up his tires for free than do it at a gas station for a couple dollars. I pointed out that his dad lives 20 miles away, so he'd be spending 40 miles of gas money to save that couple dollars...but his expression stayed blank...
Jay Son 2 years ago
Didn't see Black Friday mentioned. I mean, there are definitely deals but very often there are also "deals" that, if one kept an eye open throughout the year, are not actually new or even a deal. Another one is those "going out of business sales", where everything gets discounted... Except, it's often over the initial suggested price. I've seen things being sold at prices higher than they were at a competitor that was still in business, yet people thought they actually got a deal out of it. Guess I should say: look around, don't blindly buy based on that one discount.
Telepathetic 2 years ago
"High interest savings account" Banks in my area pay One Cent per One thousand $$ per month
Dacă nu pierdeam, câștigam 2 years ago
People who have the money to buy a gas heating system in their home, but choose to remain on firewood heating because "the gas central is very expensive, wood is cheaper". However, on the long term, wood is usually more expensive
Becky Samuel 2 years ago
Wood burning is also catastrophic for air quality, both inside and outside the home.
Load More Replies... Susie Evans 1 year ago
Dr Phil, before he got Jerry Springerish and I quit watching him, did a show on tightwads who were costing themselves more in man hours, if not actual money, by doing such things as going from one fast food place to another, stealing packets of mustard and catsup and squeezing them into an old store bought bottle. It would take him two hours to gather the packs and fill one bottle. At $5 and hour which was minimum wage at the time, he was expending $10 to save $2.50.
Mary Peace 1 year ago
Susie that's true, but some people have more time than they know what to do with. Maybe they don't care about minimum wage.
Load More Replies... Penny Kemper 2 years ago
How about supermarkets that add barbecue rubs to meet. Don't buy it, that meats going bad!!!!
Michelle E Parker 2 years ago
For the first time EVER I have a dishwasher and I have only used it 3xs I used to say if I had one I'd never wash them again- so much for that one lol
Sean-Paul Bobadilla 1 year ago
Poor people know that being poor is expensive. We need things now but can't afford a good one so we get what we can. And the result is endlessly replacing crappy stuff and never getting to have nice things. Look up the Vimes boots theory of economic inequality.
Jerusalem Cat Syndrome 1 year ago
People, for the most part, these are general examples, not specific to your particular situation, and yes, subject to some caveats, but most of the replies start "not always". No, not always. And, yes, it's also true that sometimes you don't have the money for the better stuff, no matter how much is saves in the long run. I still wouldn't throw out a lot of these suggestions.
Jason Doakes 1 year ago
Check youtube for extreme cheapskates (especially look for title: cooks lasagna in the dishwasher)
Meghan Wood 1 year ago
I encourage you all to join me for “NO BUY JULY”!! For just one month, don’t buy ANYTHING but essentials (food and gas, etc) Borrow big items, clothes for special occasions, etc from friends: If you absolutely need something, buy it second hand, or with old gift cards (I save mine up for lean months). Cook at home, and forgo the delivery services. Many low Income households live this way, and it’s pretty eye opening to see how much you don’t really need.
BlueCat 1 year ago
I encourage *you* to join me for 'stop telling other people how you think they should live summer*! Simply stop 'inviting' people to 'join you' for various things to change how they live. It's pretty eye opening to see how much advice you don't really need.
Load More Replies... Related on Bored Panda
