How to avoid frugality that turns costly
Sometimes penny-pinching ends up being more expensive than you expect
While saving money is almost always a good thing, there are a few circumstances where frugality can end up costing you money. In the following 10 circumstances, thrifty ambitions can actually end up backfiring – and hurting you financially.
1. Buying used baby products.
When it comes to cribs, car seats and high chairs, it’s safer to spend more than buy the cheapest items you can find. Although baby products are heavily regulated by the U.S. Consumer Product Safety Commission, recalls often occur and the standards on what is considered safe change. The high chair you found at a garage sale or thrift store may look sturdy, but for all you know, it was recalled three years ago because the screws sometimes come loose. Not only could you end up endangering your child, but you might have to buy a replacement.
2. Skimping on footwear.
Cheap and uncomfortable shoes not only hurt, but they can lead to blisters and calluses. You want to find a good fit with a high quality shoe to avoid future trips to the podiatrist’s office. Cheap shoes also tend to fall apart more quickly. Save yourself money, and buy a quality pair the first time.continue reading »