Posts Tagged ‘cheap’


When Free is Better vs. When it’s Not!

Posted in Save money on August 4th, 2010

janelle

By janelle

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FREE!

FREE! Who isn’t drawn to the bold and often colourful word? Contrary to the statement, “Nothing in life is free,” some things actually are! Why not take advantage of the opportunity? Well, in some cases the quote is true. How do you know when “FREE” actually means it’s free? Here are some pointers, and a bit of advice on how to distinguish between when free is better and when it’s not.

Good News!

The good news is; some things in life ARE free! You can find these deals everywhere, and in every part of life. Take for example, free samples; YES! I would love to try a new flavor of a popular brand of crackers, bring on the free ice cream samples! You can get free items everywhere (not just in the local market). Let’s talk about where you can get free clothes, books, kitchen appliances, and ADVICE. Your very own family is generally the best way to get stuff for free. (Of course, you shouldn’t go looking through your brother or sisters closet for a new sweater). However, when the opportunity arises to swap the blender you never use for a slightly used set of knives; don’t pass it up! Swap books, hand-me-downs, movies, games, etc. You’ll save yourself and your family heaps when you share. Does every family really need their own copies of every single Disney movie released?

When you’re shopping, you can come across great free items as well. If you went to the store (and you needed two new pairs of shoes), don’t pass up a buy one get one free deal. Or if you and a friend are both looking for shoes, split the cost of the purchased pair and save! The same idea can apply at the market, or in your favorite clothing shop.

My favorite free things are “FREE FUN!” If I ever come across the opportunity to do something fun or exciting for free, I rarely pass it up (I’d have to be crazy!!!). I was lucky enough to help with some photography for a friend, It was great fun and didn’t cost me anything. I also love “punch cards” (after buying 9 coffee’s I think I deserve the 10th for free!). I also love free advice, (in moderation, of course) it really helps to have the support of your friends and family.

Bad News!

The bad news is, there are often “free” deals that are manipulating. You see these everywhere! Here’s what to watch out for; “Buy 5 get 1 free”, “Eat the entire 6.8 kilo burger, get it free”, “FREE for 90 days”, or “FREE MONEY.”

When you see a “Buy 5 get 1 free” sign, consider this: Do you need 6 of these items? Did you need 5?? Getting you to buy more than you intended or needed originally just for one free item is a marketing scheme. The item is usually marked up enough that the manufacturer doesn’t lose a penny by giving you the free item. (Actually, they are making more money by getting you to buy more). Especially consider what you originally intended to buy when it’s food. Buying 5 loafs of bread to get one free, when you only needed one or two originally, is a bad idea. It’s likely that the additional loafs will grow mold before you get to them.

We all love a challenge, but when you see a sign that says “Eat the ENTIRE 6.8 kilo burger, get it FREE” sign, I encourage you to pass on the opportunity. Unless you are confident you can finish the burger, and that you will be satisfied when you do, you will end up paying an unheard of price for the meal (and suffer from a massive belly ache).

“Free for 90 days” usually translates to: It’s free now, but your locked in for 12 months and for the 9 months it’s not free…  Well, it certainly won’t be cheap! You’ll see deals like this on credit cards (“0% interest for 90 days”), loans, subscriptions, etc. Before you buy into one of these schemes, get all the information and READ the small print! “Free Money” would likely fall under this category. If you receive an email from someone wanting to put some money in your account, all they need is your account information, I hope you can immediately realise that this is a scam!

Take advantage of the free things in life, but be aware that many times people use the word “FREE” to manipulate and scam others into spending more when they need not! What are you favorite free things? Do find it difficult to realise when the word “free” is being used to manipulate?

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I Can’t Afford to Buy Cheap Stuff

Posted in Save money on June 30th, 2010

Wahid Hussaini

By Wahid Hussaini

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What I mean by this of course is that if you buy cheap goods that will last a fraction of its meant-to-be life span, then you are basically throwing money into the rubbish bin. If you find yourself replacing a certain item in your closet way too many times, then perhaps it is of too low quality. Replacing low quality items can eventually be much more expensive then buying an item of steeper price that will last a much more significant amount of time.

Shoe in Quality

Let us take a pair of shoes for example. If you decide that you need a pair, and go with the shoes that look presentable but seem that they would break apart in your hands because they were practically made in someone’s backyard, then you will find yourself buying another pair soon afterwards. It also adds to the stress of going out to the shoe or department store to buy shoes again, wasting not only your money, but your time as well.

If however, you decided to go with the more expensive shoes that are of stupendous fabrication, you will probably have it for years to come. Shoes of better quality can be maintained for a much longer time and it is easier for shoe repairers to go about making any adjustments or fixes when needed. So for a low maintenance fee, you won’t have to replace your more expensive shoes for perhaps years to come. You will find those shoes to have been a great investment, and actually has saved you money on the long run as opposed to the cheaper shoes.

Initial Cost versus Operating Cost

This goes with anything. When buying appliances, you must look into how much the initial cost is, how long it is expected to last, and how much the operating and maintenance costs will be. An incandescent light bulb costing $2.00 that takes in 100W of power will end up costing more than a fluorescent 13W light bulb that costs three times more ($6.00). This kind of budgeting is important for everything, from clothes, to headphones, to washing machines.

With the environment on more people’s minds now, it is important to buy appliances that have a low operating power input requirement. A washing machine or dishwasher that uses less water and energy will end up saving you money as well as a lower carbon footprint on the environment. A refrigerator that uses less power will also end up saving you money on electrical costs. Weigh out all costs and benefits, the initial cost as well as the operating and maintenance costs.

When it comes to clothes or shoes that you’re investing a lot of money for, it would probably be best to get a classy look and not so trendy, otherwise you’ll be wearing something that has been lasting very long and went out of style years ago.

Have you ever sacrificed quality to save money? And have you ever consciously bought a more expensive item based on quality?

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Frugality versus Cheapness

Posted in Budget, Save money on June 29th, 2010

Wahid Hussaini

By Wahid Hussaini

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Countless “Save-Money” tips

So you want to come up with a plan for saving money. There is a limitless amount of ways of which you can save money, and we could probably sit here and talk about it for ages. We could tell you to not buy that cup of coffee in the morning, stay away from the bagel shop and from that cafe in the evening. We could tell you to eliminate cable or satellite and cancel your gym membership.

We could tell you to make an account on trade me to sell your TV, stereo and iPod, as well as half of your wardrobe. And persuade you that you actually only need three pairs of shoes (dress, sneakers, casual). But what is the fun in all that?

Don’t Make it a Chore

Saving money does not have to be such a chore, all one needs are a few adjustments in the way one spends his or her money. For me personally, if I had to avoid that cup of tea in the morning I would get fed up and forget about my expenses and spend like I had compulsive shopping disorder.

Talk about being dramatic, but what I mean is that frugality is key when it comes to saving money and dissolving deeper debt. It’s all about how you buy your goods, not so much avoiding it all together.

Value of Life

I don’t mean to be all philosophical here, but what would be the point of living if you can’t even enjoy the small things in life? Think of it this way, half the joy of buying something is actually buying (paying for) the item, rather than using it.  Meaning that when you do go buy that cup of coffee in the morning or an evening snack, you will get about a good amount of euphoria worth more than the $4 you spent.

This euphoria will last not much shorter than when buying a new TV. This is because people tend to get used to what they have, hence never being satisfied with their current lifestyle and always wanting more. So a new TV will only give you a thrill for a very temporary amount of time.

Affecting People Around You

Being frugal is not so much trying to avoid buying everything at all costs. On the contrary, being frugal means you understand the value of what you buy, and you weight the cost and benefit. Being cheap on the other hand means you are only looking for the lowest price. A cheap person might be negligent of tax when paying someone back, or forget about a tip.  A frugal person would avoid buying a drink so that she can stay on her budget.

Most importantly, cheap people think of the now, how much they could save at this instant. Frugal people think long term, they have a plan and purpose, and they put it into conscience action. Cheap people might affect the friends and family around them, doing anything they can to try to save money. A frugal person is conscience of their personal expenses, and whether or not buying a specific item is worth their money.

Would you be able to tell the difference between a frugal person and a cheap person? Have you met people that have been a bit of an annoyance because of being cheap? And have you learned anything from a frugal person?

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