It’s worth spending less whenever you can, right? Well, not necessarily. There are some cases where the “less is more” principle does not work.
Being cheap lowers costs for the time being, but generally causes you to incur bigger additional expenses in the long run. That ends up being the antithesis of frugality. In other words, you are flushing money down the toilet.
Here are some cases where frugality can backfire:
1. Coupons
10% off, free plans, free sink, free toilet, free granite, free $ 500 upgrade, free, free, free. This is a coupon.
Are you saving money? The answer is no. Let me ask you a simple question: Do you know of a store that allows you to walk in, take something off the shelf, and happily walk out the door with it? Nothing is free. People can’t pay their mortgage, pay for utilities, or put food on the table by giving away free things. You are paying for it somewhere. The problem is, you don’t know where. It is hidden. That is dishonest, misleading, and just plain wrong. Is this the type of person you trust in your home with your family? Is this the type of person you trust for your hard-earned money?
The moment of truth always comes once the work starts and the change orders arise, the ever-increasing demands for cash to “buy materials,” the things that were promised not getting done, and the materials you thought you were getting. They are not the ones that are installed. . Worse still, you can’t see the work that was done behind the walls, and this is what will get you big on the round, and boy, will it cost you. Of course, the cell phone number of the person who did the work is no longer in service, how convenient! Not to mention the hours of your life that you will spend doing it all over again and the frustration of having to pay all that money out of pocket. And for what? Nothing, everything goes to waste. What a waste and what a tragedy.
The choice is yours, but I suggest you run a cost-benefit analysis to determine if the hours and dollars spent on coupons are worth it. Does it really make sense to spend $ 10 today and another $ 20 tomorrow along with all the frustration? That’s $ 30 vs. the $ 20 you would have initially spent to get it right the first time.
2. Adoption of a deprivation budget
When you decide on a budget for your project, whatever the amount, you will find a line of people willing to take your money; especially when it is too low for what you want. I can promise you that you will never experience a shortage of ready-to-drink people, and I mean taking (more like stealing) your money. In his effort to get diamonds for the price of coal, he cuts back on spending and willingly accepts the guy who says “No problem, I can do it! I have found the secret to building and remodeling using only the best materials at the cheapest price. .. I’m just brilliant. Wait and see! “It’s tempting to follow him, after all, they’re telling you exactly what you want to hear … your work and all its splendor can be done with the slimmest figures imaginable. Seriously? Here’s a secret for you – we all pay the same for that 2×4, screw, paint, etc. So what is the difference? The difference is (a) the quality of that 2×4: is it firewood grade or quality construction grade? Is it Dunn Edwards Supreme paint or something from a discount store? (b) Is the person installing the product an experienced craftsman or a guy who just pulled out of the corner that very morning?
I fully understand cost cutting, but being unrealistic means your spending plan will fail. For example, if you normally spend $ 600 at the grocery store for a family of four, what is the point of reducing that number to $ 200? The answer is simple: none at all. You will save $ 400 on the grocery bill and spend $ 5,000 at the doctor when the children are sick from malnutrition. How much did you save now? And children are hurt for life!
3. Buy expensive items of inferior quality
If frugality is deeply ingrained in your genetic makeup, it’s no wonder expensive items with low label prices can be attractive. However, cheaper is not always better, especially in construction and remodeling.
A perfect example is shopping for a cheap bathroom remodel – just re-coat cabinets, paint, and install new tile in the shower and on the floor. It may look good, smell great, and be amazingly priced, but you’ll soon discover the meaning of a “tail light warranty.” A year or two from now, you’ll have left me wanting to know why, after remodeling your bathroom a year ago, the tile floor is cracked, the shower is leaking, the shower door no longer closes, and the toilet requires “shaking.” handle technology “to make it work. When I see you in a year or two, I will refer you to this essay.
You cut costs today, but end up where you started when all is said and done. Cheap and inferior is just that. Something for nothing is a scam.
4. Cut corners
Are you riding the wave of luck when it comes to your remodel? Do you remodel the bathroom and not replace the shower valve or install an inferior brand? Wait until you have to tear off your new shower tile to replace the shower valve you got for a good price. Better yet, when you turn your bathtub into a shower and don’t increase the size of the drain from 1-1 / 2 “to 2”, let me know how it works for you. Oh yeah, you have a great offer! Much more expense and pain !!!
It’s like this: Think of those who ignored dental visits to save money for so long that they must now live with gum disease and expensive deep cleanings for the rest of their lives. Just think of those with debilitating medical conditions who might have caught them earlier with routine blood tests. How much did they save in the long run?
