Irrational frugality

[FANOFJESUS]

To the OP I think the most of us on this board do this. Heck I use 1 ply store brand TP.

 

[UpAnchor]

I have bidet seats on all my toilets. A nice warm stream of water caresses my rosebud after use and all I do is blot it dry.

What? You didn't get the one with the built-in dryer? One guy on HGTV who had that said he didn't have to use toilet paper.

I could never go that far. I'm a staunch proponent of "trust but verify".

 

[kcowan]

Wow, the Kirkland (Costco) prunes are wonderful!

So are their sun-dried tomatoes. They put them in a different place by the time we need another but they always have them!

 

[Mulligan]

I suppose the "irrational frugality" breaks out in me the most is my cable. Unwilling to ever give it up, but unwilling to accept they give the best deals to new subscribers and try to screw me over. So I run the gauntlet every year ( this time it took 75 minutes on the phone) to make them throw me a bone. Oddly enough this month when I finally reached the end of the rainbow they gave me 2 choices and let me decide. $50 off a month for a year, or $30 off a month for 2 years... Surprisingly out of my mouth I took the worse deal of a $30 discount. I wanted to take a year off from this annual PIA.


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[ExFlyBoy5]

The way I look at it, if I am frugal in some areas, then I can splurge in others. We recently "cut the cord" from our cable provider (got sick and tired of haggling every single year for a better rate) and are now saving well over $100 and the funny thing is, we are not missing anything by not having 7000 channels to pick from.

Also, with my cell phone, I dumped Ting and went with Republic Wireless for the $10 month unlimited talk/text/wi-fi (still have the refund plan where I am initially billed $15 for 1G of data but it's prorated and refunded) and so far, I have yet to have a bill more than $18. Back in the day, we had a Sprint plan that ran us $160/mo for 2 phones...so ridiculous.

I have a lot of other examples, but since I save in some "bigger" categories, then I don't sweat buying some high-end groceries or buying craft beer at a social gathering.

As far as paper products, I am all about the Costco Kirkland TP and paper towels. The TP rolls are so big, they won't even fit on the dispenser for the first few days and I think it's the softest out there. I know that the cost per sheet will often be higher than the name brand they will have a coupon for, but that is somewhere I will splurge.

 

[Sunset]

I just mailed a letter, and since the post office dropped the price of a stamp to 47 cents, I realized I should not be using my forever stamps.
I had bought my forever stamps at about 46 cents, so the sudden devalue means I must rebalance my stamps
I use the regular stamps as they will always be worth the face value and have no inflation protection.
I might save 5 cents a year doing this, but it feels right and only takes a minute longer (worth $3.00/hr)

 

[Beldar]

I pick up loose change on the ground.

 

[38Chevy454]

While it may not have a direct effect on a person's bottom line, the discussion that it is not worth your time seems false. If you have other options for your time that do have monetary value, then it can be argued taking more time to decide and get the best value may not be the best overall. However, if you are not getting anything monetary for your time, why not use some of it to help save some money? Sure your $/hr equivalent may be a lot less than min wage, but something is more than nothing.

 

[Mulligan]

While it may not have a direct effect on a person's bottom line, the discussion that it is not worth your time seems false. If you have other options for your time that do have monetary value, then it can be argued taking more time to decide and get the best value may not be the best overall. However, if you are not getting anything monetary for your time, why not use some of it to help save some money? Sure your $/hr equivalent may be a lot less than min wage, but something is more than nothing.

When I ever say "Its not worth my time" it is really a code word for I am either too lazy, or just do not want to mess with it. And that happens often since I value my time as $0.0 per hour.


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[euro]

Yep, I'm like you, looking at the "cents per sq ft", etc. (Same with TP, but only between a few "acceptable" brands).
Sure, on one level I could forego all of that and probably save the same amount with more careful tax loss harvesting, playing the credit card "special offer" game, etc. But on another level it doesn't >bother< me to look at the shelf tags, and I feel a mild satisfaction with each thrifty purchase. It's habit now, and not an excessively burdensome one to indulge.

Agree 100%

 

[Montecfo]

Many times when we buy a cheaper product, we are getting a product which will not perform as well. Such as decision may save money, but it does not generate value in the same way as a cheaper product the performs comparably.

I think if you can get a comparable product at a better price, then you are saving money without realizing it. That is the essence of "value".

In our marketing-driven society we receive many messages which are designed to defeat the inherent eye for value that many of us possess. good to tune those out and trust our own eye for value.

However as has been pointed out, at some point you know which products are a value and which are just cheap, and you can buy accordingly, with reduced need for comparison shopping.

Good Living!

 

[haha]

Maybe a better idea would be to work an additional year, and when you retire from the job also retire from this boring time wasting. It is what Joseph Schumpeter called shadow work.

Ha

 

[samclem]

Maybe a better idea would be to work an additional year, and when you retire from the job also retire from this boring time wasting. It is what Joseph Schumpeter called shadow work.

It's a public good. Those who search for value in their consumer purchases help to keep prices (at least somewhat) linked to expected utility of the products. That way, those who choose to "index" (just pick up a random roll of paper towels off the shelf) get better value for their money. If nobody looked at prices, we'd all be getting a worse deal.

Thanks to all the price shoppers! Now, >please< pull your cart to the side so I can get past you and out of this infernal supermarket ASAP.

 

[Markola]

I was unemployed for a wonderful summer and used the time to try to learn how to save some real money on groceries, which are about our third or fourth highest monthly budget category. All summer I kept rigorous track of receipts from Aldi, Costco, and Kroger. What I learned is that it is hard to move that category's needle very much, maybe 10 - 15% tops, and only with a lot of time and effort spent. I'm also not sure the $55 Costco membership really saves enough to warrant it, though I still go there about every 4 months to load up on staples. In general, I shop at Super Target, where I have a Red (debit) Card that knocks off 5% of every purchase and call it good. There's a lot of savings baked in to those choices. Someday when I'm FIRED, knowing me, I'll have time to avidly shop for bargains. By the way, how great to go shop on a weekday morning.


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[RobbieB]

Irrational frugality is whenever I buy something that sucks.

If I don't like it it's going in the trash - fini.

A total waste of dough, just threw my dough in the trash can, not to mention having to go back and buy something better. Now a waste of time and money, not to mention not having any fun either.

 

[eta2020]

Irrational frugality is whenever I am wasting an hour on buying a few dollar item.

 

[ziggy29]

Let's draw a distinction between "irrational" and "obsessive" frugality here.

Irrational frugality isn't necessarily obsessive -- it just fails to consider total "bang for the buck" and always seeks the cheapest, even if it isn't the cheapest in the long run.

Also -- if I spend hours researching the differences between a $12 item and a $14 item.....

Obsessive frugality may be better about bang for the buck -- they may pay $60 for a much better built widget than $50 for a crappily built thing that will break in a month. But everything they do is obsessed with paying as little as possible even if it may damage personal relationships and even their health.

Now IMO "frugality" or "thrifty" in general is a different thing. To me that connotes being a good steward of your money, simply never paying more than you need to. Sometimes that means paying more for quality, if the value proposition is there. But if it's obsessive or irrational, it may come at long-term financial detriment or damage personal relationships in the process.

In the general case there is NOTHING wrong wit4h thrift or frugality. Only if it becomes an obsession that impacts health and/or personal relationships should we worry. I know folks for whom being "cheap" is a pleasurable hobby. Godspeed to them, I say.

 

[eta2020]

Irrational frugality is also if you work till 65 but you can retire at 50

Early retirement is ultimate luxury item because you give up years of income. For high income earner it is like throwing million plus into the trash.

So in the picture of the above what is a point in wasting time on paper towels?

 

[Amethyst]

Stamps? You use stamps?

I just mailed a letter, and since the post office dropped the price of a stamp to 47 cents, I realized I should not be using my forever stamps.
I had bought my forever stamps at about 46 cents, so the sudden devalue means I must rebalance my stamps
I use the regular stamps as they will always be worth the face value and have no inflation protection.
I might save 5 cents a year doing this, but it feels right and only takes a minute longer (worth $3.00/hr)

 

[6miths]

One of my parsimonious habits relative to gas...I have avoided buying cars that take plus or premium gas. I've never felt like I've missed out by driving cars that take regular but, if I run the numbers, there's no real reason to think that way. If I average 20 mpg, if the difference between regular and plus is .20/gal and if I drive 10K miles per year, we're talking a hundred bucks a year. Double that for 2 cars and it's still peanuts. But, that's the way I am.

I agree on the no premium gas vehicle in principle but the other option is to get the best deal on the car you want and if it calls for premium just put regular in it. My current ride is 'premium only' and is doing very well after 150k miles running on regular. Most cars don't care although if it happens to be something red and Italian then I would likely spring for the premium!

 

[jimnjana]

I agree on the no premium gas vehicle in principle but the other option is to get the best deal on the car you want and if it calls for premium just put regular in it. My current ride is 'premium only' and is doing very well after 150k miles running on regular. Most cars don't care although if it happens to be something red and Italian then I would likely spring for the premium!

Gotta be careful with this one. Ask at the dealership and do your research online. Just upgraded our 2008 Lexus RX 350 with a 2015 model. Both call for premium only, but both run fine on regular unleaded. The 2016 model does not.

 

[samclem]

I agree on the no premium gas vehicle in principle but the other option is to get the best deal on the car you want and if it calls for premium just put regular in it. My current ride is 'premium only' and is doing very well after 150k miles running on regular.

Have you tried running it on premium for a few tanks in typical conditions and checking the gas mileage compared to regular fuel? Modern cars built for "premium" fuel can run on "regular" without damage to the vehicle, but they do it by retarding the engine timing in response to signals from electronic knock sensors. This reduces the max available HP (e.g if you need to get out of the way of that careening cement truck--well, too bad), but it can also reduce fuel economy under more moderate operating conditions. Paying the extra for premium fuel might be worth it if your mileage increases considerably.

 

[JOHNNIE36]

We do the COSTCO thing also but only go there once a month so I'm probably not getting my membership fee back in savings; however, their paper products are the best and I won't use anything else. Our local supermarket is Publix. Best grocery chain around. They are into the BOGO mode for sales. Most sale items are OK with BOGO but when they start with the soft drinks, they confuse my wife. Like "buy three-get two free". It changes all the time and it's got to the point you need a calculator. I just take the total price and divide it by the quantity you are really getting. Thought I'd mention the "BOGO" sales pitch because it wasn't mentioned in the other posts.

 

[bclover]

While it may not have a direct effect on a person's bottom line, the discussion that it is not worth your time seems false. If you have other options for your time that do have monetary value, then it can be argued taking more time to decide and get the best value may not be the best overall. However, if you are not getting anything monetary for your time, why not use some of it to help save some money? Sure your $/hr equivalent may be a lot less than min wage, but something is more than nothing.

but to me my time has value even if I don't do some thing bring monetary value. case in point, I cannot sit through a bad movie, I just can't. I figured I already blew 20 bucks no sense in me "wasting" more valuable time. even if all I do is go home and walk the dog,

Being a city gal once thing I hated about living in the burbs was you had to drive literally everywhere. some thing as simple as getting a gallon of milk required getting in the car so I would buy milk at the convenience store, pay 3.00 bucks more a gallon simply not to waste my time by having to get in the car, drive 5 miles to shoprite, waste time parking etc etc and then drive back.

Now I've always been an comparison shopping I don't find that "irrational" at all. one thing I thought was sort of weird were folks that go to 3 different supermarkets to shop because different items are on sale. I have a girlfriend that does it.

 

[Sunset]

I pick up loose change on the ground.

Just 2 days ago, as DW and I were walking around the neighborhood, she spotted a penny on the sidewalk, then she said let's leave it there.

Talk about a Rich attitude (yes we left it for some small child to find).