10 Ways Being Frugal Can Cost You Money

10 Ways Being Frugal Can Cost You Money

Spending less is always a good thing, isn’t it?  Well actually, the answer may sometimes be no. In certain circumstances, being cheap can cost you big money down the road.

Many times when people act frugally they forget the hidden ways that cutting corners today can cost you money tomorrow. So you don’t fall prey to the pitfalls of being frugal, watch out these 10 ways your thrifty habits can backfire.

Buying Cheap Food

Your waistline and your health will benefit from fresh foods and if you’re flexible in your eating habits, you can still enjoy good food without going over your grocery store budget.

Fresh meat, vegetables and dairy products are more expensive than their pre-packaged counterparts, but nutritious food is worth the added expense.

Slashing Your Budget Too Much

While you may not miss items you cut from your budget initially, underestimating your expenses will ultimately cause your master plan to fail.

For example, shaving your grocery store budget too much may work for a couple weeks until you have run out of staples and need to make additional trips to the store to re-stock.


If you love to clip coupons you probably do it for the savings at the register. Unfortunately, if you get too extreme with your couponing, you could end up with a stockpile of items you’ll never really use.

Remember, it’s not that good of a deal if you buy 4 and get the 5th free. Only coupon for items you’d buy anyway and never purchase more than you can use before the sell by date.

Being Under-Insured

While it’s tempting to opt for the bare minimum level of coverage on your insurances to save money on premiums, it may not be the right way to save money for you.

If an emergency comes up or if you get into a car accident, you’ll be looking at huge out-of-pocket costs and enormous deductibles that will void your savings and put a strain on your budget.

Skipping Yearly Checkups

When it comes to health, an ounce of prevention is worth a pound of cure. While skipping your yearly checkup seems tempting today, the sacrifice to your health may not be worth it.

The same applies for all your family members and don’t forget the dog either.

Buying Cheaper Big-Ticket Items

If you need to spend money on something expensive, it’s best to just get a good model and get it over with. By getting the cheaper alternative it will end up costing you in the long run.

Take a car for example, buying a cheap car will save you money today, but could cost you more in the long run than a good car because of repairs and maintenance costs.

Likewise, buying a cheap TV from an unknown brand can end up costing you more because your set may fail prematurely. A warranty won’t matter either if the company’s already out of business.

Putting Off Car Maintenance Or Repairs

Routine maintenance is required to keep your car running at its best. It’s also helpful for catching small problems that you may not notice on your own. When fixed early, most small car issues won’t become catastrophic issues down the line which means you’ll save money.

By saving money on delaying that rattling noise or small leak, you could possibly be ignoring a major issue and you could put yourself in danger as well.

Shopping At A Warehouse Club

Warehouse clubs are great for businesses and people with large families, but for a lot of people the bulk sizes aren’t realistic. When shopping at a warehouse store, always look at the use by date and figure out if you can realistically use the item before it expires. If you can’t, the bulk pricing may not be such a great deal after all.

Increasing Your Deductibles

While increasing your deductible on your homeowners or auto insurance will lower your monthly premiums, it’s a risky proposition. In the event you need to file a claim the cost of the high deductible will be a hard pill to swallow.

For example, if you have a $2,000 deductible on your auto insurance policy then any fender bender or broken dash will all be your responsibility to fix.

Using Daily Deal Sites

Daily deal websites like Groupon or LivingSocial offer huge discounts on services, products and events. At least at first glance they do. Often times, a deal advertised at 50% off isn’t what it appears to be. The seller has simply inflated their “retail value” up by 50% and you’re really not getting a good deal at all.

But even if the offer truly is a good deal, by using these sites you can easily spend hundreds of dollars a year on things you weren’t planning on spending on at all. All this just so you don’t pass up on a so-called great deal.

Money Saving Methods For University Students

The cost of a four year college education is going through the roof. States are slashing budgets and schools are forced into raising tuition rates to keep their universities running.

So what better time than now to discuss several money saving methods for university students. Follow the tips in this post to keep some more money in your pocket.


Saving money will net you a few bucks here and there. But if you really want to have some money while you’re in college you are going to need to find a job. The type of job you can get while in college is probably going to be a part time job with low pay and little to no benefits. But a little bit of money is better than nothing.

If you find that working during the school year is not possible due to your class schedule, get a summer job and save all that money because you’re going to need it next semester.


One of the biggest expenses (other than tuition and rent) that college students have is food. It doesn’t seem like you spend much on it because it’s always just a few bucks per meal, but it really adds up. That three to four dollars per meal adds up to about $450 per month.

To save money on food don’t eat at fancy restaurants and stick to the cheapest (yet still healthy) food you can find. Something like Subway with their $3 sandwiches. When you do eat elsewhere take home the leftovers and you’ll save money on food the next day.

Work IN Food

As a university student you need to make money as well as save money. We discussed how you need to find a part time job and you need to save money on food. What better way than to combine the two.

Work at a fast food joint or a local college restaurant. By doing so, the cooks can hook you up with free leftovers to eat during your lunch break or even to take home. If you can’t get that connection done, then at least you’ll get heavily discounted meals.

Stop Throwing Your Food Away


Most things should be used, recycled, given or sold. This applies to food as well. Say you’ve gone to the grocery store, bought things on sale, used coupons wisely, bought in bulk and ended up saving big bucks. Then you come home and a couple of weeks later you find yourself throwing away food. There go your savings – straight in the trash can.

How can this be avoided? Just follow these 5 tips to reduce your food waste.

Don’t Buy In Bulk

Everyone talks about buying in bulk like it’s some sort of a great thing. But it’s only a good idea if you use everything you buy. To make sure things won’t spill, instead purchase small amounts more frequently. Instead of buying a whole bunch of bananas, avocados and tomatoes, only buy what you plan on eating in the next few days.

Yes this means you’ll have to make more trips to the grocery store, but it will also mean you won’t end up with rotten fruits/veggies anymore.

Use The Freezer

Food left out will spoil soon. To prevent this (or at least slow it down) from happening, place these items in the fridge and they will last longer. If you want your items to last even longer, keep it in the freezer and you’ll be able to eat it weeks, if not months, later.

You can store bananas, avocados and bread in the fridge to help keep them from spoiling before you’ve had a chance to enjoy them.

Sharing Is Caring

Got some extra food? Instead of letting it spoil, share it with your friends, family and neighbors. They will appreciate the gesture and if they’ve overstocked on something in the future they will hopefully want to return the favor and share it with you.

Take Home Leftovers

When you go out to a restaurant, they usually serve an absurd amount of food. Instead of sitting there trying to eat all of it, eat enough so you’re full and take the rest home. It’ll give you an additional meal to eat the next day. If you’re a light eater, split it into three separate portions and really get a good bang for your buck.

Store Your Food Smartly

When you store food in the fridge, place it in clear packaging so you can clearly see what’s inside. Sometimes you put items in a container and nobody in the house knows what’s in it. So the days go by and before you know it, it’s gone bad.

Place the food that will spoil first in the front of the refrigerator where it’s most visible. It’s common to forget about items wrapped in foil in the rear of the refrigerator.