Frugality often gets a bad rap. People confuse it with being miserly and never enjoying life. That isn’t always the case, as frugal people spend on what they value. They eschew overspending in some areas so they can have the things they want, without the guilt. Instead of wasting money, they choose to optimize their finances to align with their goals. Here are 12 things frugal people never do with their money.
Table of Contents
Pay Full Price
Frugal people never pay full price for anything, and you shouldn’t either. There are way too many cash back apps, rebate sites, and coupon codes to be paying full price for anything.
You can save money easily by downloading the apps for your favorite restaurants and stores.
Dine Out Often
Frugal people aren’t wasting their money by eating out frequently. They know it is more economical to prepare food at home.
When they do splurge on eating out, you can bet they have a coupon.
Pay Attention to Name Brands
Frugal people aren’t worried about brand names, nor are they loyal to any specific brand. Instead, they search out the product that is the best value for their needs and purchase it without regard for what brand name is on the label.
Carry a Credit Card Balance
Frugal people know that keeping a balance on their credit cards does not improve their credit score. They may use their credit card to gain rewards and points on purchases, but they pay off the balance at the end of the month.
Otherwise, you are paying interest, which is a waste of your hard-earned money. However, a mindful person will use a rewards credit card to receive perks for spending they already are planning on.
Pay Bills Late
Frugal people pay their bills on time. Not only do they want to avoid paying an unnecessary late fee, but paying bills more than 30 days late can have a negative impact on your credit score.
Shop Without a Grocery List
Frugal people know that shopping without a grocery list is like simply opening your wallet and watching money fly out. Frugal shoppers have a meal plan, grocery list, budget, and coupons in hand before they head to the grocery store.
Spend Their Whole Paycheck
If you are spending your whole paycheck, you are living at your means, not below your means, which is what frugal people aim to do. This leaves no money for savings, emergencies, or the future.
You should never be spending your entire paycheck without tucking something away for later. If there is nothing to save, it’s time to re-evaluate your spending habits.
Delay Repairs
When small things start to go wrong on big items like appliances or vehicles, frugal people will get them repaired immediately. This is because they know that ignoring small repairs can lead to even bigger repairs or replacements down the line.
Taking care of your things will make them last longer.
Have an Empty Freezer
Frugal people don’t have empty freezers because keeping a freezer empty costs more money to run it, and the same is true of your fridge.
Frugal people take advantage of sales and make freezer meals to fill that empty freezer space so that they have dinner ready at home instead of grabbing takeout.
Throw Away Anything That Isn’t Trash
Frugal people aren’t hoarders, but they will go out of their way to sell good quality items they no longer have a use for or re-purposing them instead of just throwing them out.
Items that can’t be sold can be donated so that they benefit the less fortunate, and it can be a tax right off as well.
Run a Half-Full Dishwasher
You shouldn’t be running a half-full dishwasher, even if you aren’t particularly frugal. It’s a waste of water, energy, and money. Don’t turn the dishwasher on until you have a full load to wash to get the most bang for your buck.
Buy Bottled Water
Bottled water is a must have for many people, especially when they’re on the go. Frugal people see that as wasteful spending. The average American family spends nearly $1,400 annually on bottled water, which flies in the face of what spending-conscious people are trying to accomplish.
Practicing frugality often results in people buying a water pitcher to filter water and reusable water bottle. That nets them big savings, with little sacrifice.
35 Proven Ways to Save Money Every Month
Many people believe it’s impossible to save money. Or, they think saving $20 or $50 a month won’t amount to much. Both are incorrect. There are many simple money-saving tips that can add up to big savings. You just have to start one, then another, to increase your savings.
Ways to Save Money Every Month
15 Best Coupon Apps to Save Money
Saving money at the store is as simple as using your phone. Better yet, you can redeem savings for free PayPal money or gift cards. That’s a win-win.
15 Best Coupon Apps to Save Money
15 Best Alternatives to Cable
You don’t necessarily need live TV to replace cable. Many streaming services offer quality content and good features to slash your bill.
Get Cash Back on Your Gas Purchases
It’s painful to fill up at the pump. Thankfully, there’s an app for that! With Upside you can get rebates on your gas purchases that you can redeem for cash.
Upside App Review: Is the Gas App Worth it?
11 Grocery Store Ripoffs
Going to the grocery store can be painful, but there are ways to lessen the pain. Here are 11 ripoffs to avoid when shopping to stretch your budget further.
I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.
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