Overall, I think that there is a common misconception about being frugal. Many people think that those who are frugal dress in used clothes, buy everything from discount stores, clip coupons, and live a basically deprived lifestyle. Some may go as far as thinking that the very frugal move to the country, raise animals, and grow vegetables. I am here to change your thinking and help you to understand that being frugal can oftentimes mean having much more.
A great quote comes to mind when I think about being frugal. I don't know where it came from or if I even made it up at some point, but I love it.
"The poor are those who spend everything they make and never get ahead. Average people are those who save what the do not spend. Rich people are those who spend only what they NEED and invest the rest."
Just some food for thought. Here are the truths about a few misconceptions that will get you thinking:
1. Used clothes are cheaper than new... and/or discount stores (like Walmart) have the cheapest clothes - Newsflash! This is false. You can actually get better deals at name brand clothing stores, such as The Children's Place, Old Navy or Macy's. These stores oftentimes have end of season/year sales when clothes are on clearance up to 90% off. These stores also offer coupons now and again that drop the prices even lower. Have you ever seen a sale or coupon at a place like Walmart? No, they have everyday low prices that don't change. But, I pay about $15 for name brand jeans at stores like Ross Dress for Less, whereas you would pay at least $30 for no name brand at a discount store. So, you can actually get higher quality, name brand clothes for less than a discount store.
In addition to getting a lower price, you also get a better return on your investment. When you are ready to resell your clothes, you will get much more money for your name brand items than clothing from a discount store. If you get your name brand clothes really cheap on sale, you may get all of the money back that you originally paid for it! I've gotten sweaters at Old Navy for $1.44 and kids jeans for under $2. I know that resell price will be more than that!
2. Generic groceries are cheaper than the manufacturer brands - It may seem that way at first, but if you can match a coupon with a sale, then the manufacturer brand is often times much cheaper than the store brand. For instance, this week Birdseye Steam Fresh Steamers were on sale for $.79, which is really low, plus I had 20 coupons for $.35 off. The final price of these vegies was only $.44 a bag! There is no way that the store brand could possible beat that. So, you can enjoy your favorite brands again.
3. Coupons are not worth the time - Well, as you can see above, it can make a huge difference. There are coupons available for nearly everything that you buy: food, clothes, entertainment, restaurants, hotels, you name it. Can you imagine the savings if you use them for everything that you do? The key is organization. There are coupon organizers everywhere that will help you keep them organized for when you need them.
4. Couponing is very time consuming - with today's technology, you don't even have to clip. Simply get the inserts out of the Sunday paper and date them. Websites like www.couponmom.com have a database of sales that are matched with coupons by date. So, you only clip the ones you need.
5. To really save money at the grocery store you cannot buy healthy food - So untrue. Why would anyone do this if they couldn't keep their families healthy? You can get plenty of fresh fruits, vegies, and meats. The trick is to wait until they are at their lowest prices. By purchasing produce that is in season, you can save a bundle because the prices are extremely low. There are great meat sales every week that can be stockpiled and used later. The same concept can also be applied to organics and natural foods. There are also plenty of organic coupons out there these days.
6. Drug stores are more expensive than big box stores - False again! Right off you are thinking I'm crazy, but have you actually seen a sales ad? There are all sorts of things that are on sale every week for really cheap, and many things that are FREE with Extra Care Bucks or mail in rebates! Buy and stockpile only the items that are great deals. If you buy anything else you will waste money. By doing this you shop out of your pantry when you need something and never actually have to pay full price for anything again!
7. Frugal people are deprived people - Actually the truth is quite the opposite. Frugal people are smart about the way that they use their money. They have the same things that other's have, but maybe on sale or with a coupon. They also have much more money in their bank accounts and more food and products in their pantries. They have much more full filling lives because they worry less about money and have more for rough economic times.
As you can see, by living a frugal lifestyle you can actually have more of the name brand items that you thought you could never afford....and a much healthier financial standing.
HAPPY SAVING!
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