We all love a bargain, and while there are countless guides to saving money on your shopping, spending more may sometimes be better than pure frugality. Frugal shoppers share their stories in a recent online post about when spending would have saved them money.
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“There is a reason that car is only $500,” jokes a commentator who suffered painful mechanic costs fixing his cheap purchase. A respondent asks why not spend more to “get a decent car that is only a few years old, and not deal with the dangerous repairs or bad experience of driving a bad car.” They have a point — is it worth risking your safety for money?
A certain Nordic furniture brand comes under fire next when one observer regrets their decision. “Most of mine fell apart within a year or two of use — and in some cases, months,” she warns. “I should have saved my money and invested in some quality furniture that doesn’t fall apart so easily.” But those catalogs make them look so darn cool.
3. Your Living Arrangements
In this continuing cost of living crisis and rise in gasoline costs, people are now looking closer to the workplace, though one worker wishes they had. “I got a place a good 50 miles from my job since the rent was $400 cheaper than anything close to it,” explains the next regretful poster. “Even though the rent is cheaper, I am now spending $400 a month on gas.” It makes more sense to live nearer to work; just think of that free extra lie-in time you get back.
A skateboarder will injure themselves multiple times over a long career, so medical insurance is necessary. After breaking his wrist a few years ago, one skater declined his urge to visit E.R. to avoid the $300 co-pay. “At this point, I’m pretty sure it would involve a fairly intensive surgery involving re-breaking the bone and setting it again to fix it,” laments the damaged young man. I can only shake my head at this; you can always re-earn $300.
One might think the heaviest weight-bearing clothing item would warrant investing decent money for most people. However, others either cannot afford the upper-rack items or are too frugal. “I’ve made so many mistakes buying shoes at Payless or Target for cheap, and the quality just sucks,” writes a shoe shopper. “They hurt my feet and don’t last long, so I’ll never wear them more than once or twice.”
6. Car Insurance
The worst-case scenario for a motorist is hitting another vehicle, risking liability lawsuits for injuring passengers. It makes sense to cover all your bases, and one contributor warns, “You don’t want to accidentally crash into a Mercedes Benz, have it considered your fault, and not be able to cover the expenses with your insurance, especially if someone was injured.” This scenario could lead to financial ruin.
Some ladies bemoan how unreliable certain low-cost bras are. “I would buy cheap ones, and the wire would poke out and leave marks on my skin,” recalls a former student. “Having a good bra made of good material feels like being on a cloud in comparison.” I cannot attest to the legitimacy of this claim, so I will merely confirm that I approve of this statement.
The lure of low-cost airlines is hard to resist for some travelers, though if you don’t want to land in a nearby city in the middle of the night, it is always worth paying for the better option. One thoughtless tourist regrets losing “twenty-one hours on a bus between Amsterdam and Bratislava” after discovering they could have flown for the same price.
You might want to research Las Vegas’ geography before booking a cheaper motel across the city when in town for a conference. One unfortunate commenter explains how they spent so much on taxis the first day they ran out of money and had to cancel their hotel. “I ended up staying up all night, walking around the Strip,” says the traumatized individual. “I then flew home, drove two hours to get home from the airport, fed my cat, and collapsed.”
“I thought I would be clever and start investing in the stock market using a hedging broker. My stockbroker lost $15,000 in six months,” laments a beleaguered investor. “All that’s left is $1,000 — never investing in anything but mutual funds from now on.” There are endless stories of shady stockbrokers, especially ones that don’t operate within financially regulated spaces. Always research your investors and never go cheap.
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This thread inspired this post.