13 behaviors that frugal people avoid: Being frugal isn’t a single thing. It’s more of a range, and different people need to take different steps. Being frugal doesn’t mean you have to knit all your clothes, grow most of your food, make all your gifts, or have all your fun.
Frugal people can go out to eat, buy cars, go on vacation, pay for streaming services, and treat themselves to things they want. They just take their time.
This is how people stay frugal: “They save where they can so they can spend where they want.” Like my thrifty friends, they make smart decisions about my money and my life.
These are things smart people who are frugal never do.
1. Pay full price
Why would you want to pay the first price that is given? People who want to save money instead use Capital One Shopping or Honey, apps and browser plugins that help them find great deals that they might not have found on their own. Check them out.
People who want to save money also shop at clearance and post-holiday deals. They go to garage sales and thrift shops. Some people are lucky enough to find what they need in Buy Nothing Facebook groups in their area, which means they don’t have to pay anything.
2. Forget about cash back
Cash-back credit cards and plans like Rakuten can save you a lot of money on things you need. You might get cash back or points that you can trade in for gift cards or other things.
3. Keep The credit card amount high
There is a persistent rumor that having a credit card debt can help your credit score. It doesn’t. This is what the Experian credit company says:
“Having credit card amounts that are past due can even hurt your credit score. This happens most noticeably when balances go over 30% of a card’s borrowing limit. Credit users with the best scores tend to keep their balances below 10%. The best thing is to keep your balance at zero by paying off all of your purchases in full every month.
If you have a debt, you’re paying interest that you don’t need to (really, why?) and it could mean you’re spending more than you can afford. Using a tool like You Need a Budget to make a budget could help you stick to it.
6 Things to Do Now With Money for a More Secure Future: Smart Financial Moves
4. Leave their health at risk
You should pay attention to that scary sound coming from under the hood. Would you take the car to a mechanic? For your body, the same rule works. So you are one of the frugal people; take note.
A health checkup once a year can find a small issue before it gets worse. Say you keep ignoring your stomachache because it’s a problem with your gall bladder. If changing what you eat doesn’t help, outpatient laparoscopic surgery might.
Or you could keep ignoring it, which could mean you need to have surgery right away and stay in the hospital. You make the call.
5. Spend all of their money
It’s better to live below your means than above them. If you spend all of your paycheck, you have no cash. Don’t even think about how you’ll pay for the next disaster. Make a list of your zero-sum games.
You need a plan, whether you’re spending too much or not making enough. Locate a licensed money guide to assist you in taking charge of your money
6. Buy something now and pay for it later.
A lot of people call these services “buy now, pay later” (BNPL). They let you pay for something over time. The Consumer Financial Protection Bureau says that a common idea is to make four payments every two weeks with no interest.
Such as when “teen grows out of shoes before a single parent has a chance to save enough money to pay cash.” But this method might make parents only buy from stores that accept BNPL instead of looking for the best deal.
The CFPB also says that returns can be hard, and you might not have as much dispute security as you would with a credit card.
The most important thing is that BNPL plans help you get used to getting things right away. Skip BNPL plans and stick to your budget instead. It’s a smart way to save money.
7. Throw away food
In recent years, food costs have gone through the roof.
It was never a good idea to waste food. When prices go up, throwing away food is an even worse plan.
8. Don’t pay bills on time
Paying your bills on time is the most important thing that affects your credit score. Your score will go down if you don’t pay a bill on time for more than 30 days. Likely, a bill that’s just a few days late won’t hurt your score, but you will have to pay a late fee.
Do not let those things happen. Make paying your bills automatic! If you have to do it by hand, make sure you always make your payments on time by setting up a pattern.
9. Go to the store without a list
Going to the grocery store without a plan is like taking out your wallet during a hurricane—the money might stay in there, but it might not. You might have less money and more stuff than you planned to buy when you get home.
There’s an easy two-step fix, though: make a weekly plan before you go shopping. Make a list of the things you need to get to make those meals.
Now comes the hard part: follow that list. Yes, the fresh chocolate chip cookies in the shop bakery do smell great. Don’t breathe out. Just walk on. You’ll save money this way.
10. Throw away things that can be fixed, used again, or sold
Thrifty people don’t just throw things away or leave them on the street. They think outside the box, and sometimes they get paid for it.
Someone else could need that 4G Android phone that you no longer need. You can fix that broken weed-whacker by watching a few movies or reading some do-it-yourself guides. Don’t buy expensive storage jars after you finish a Costco-sized jug of pickles. Instead, use the jug to store dry foods.
You might even be able to make some money this way, especially if you sell electronics or nice clothes.
11. Let your insurance renew itself
Your insurance agent would never charge you too much, after all. Do you believe they’re honest?
Trust, but check. That means looking around.
12. Look around, either online or offline.
Do you like to go shopping when you’re bored? Do something fun that doesn’t cost a lot of money.
There are too many tempting things out there, like a sale rack in a real store or a flashy website that says “Lowest Prices Ever!” The prices! Ever!
Don’t go into stores if you don’t need anything.
13. Keep up with the Jones family
It might look like the Jones family is living their best life, but looks can be deceiving. They could be deeply in debt, just one step ahead of the repo man, and so stressed out that they can’t sleep at night.
Have some fun, huh?
Having a desire for what the Jones family has is fine, but make sure it’s what you want. Plan how you’re going to get there, be grateful for what you have, and stop counting other people’s money.
