Got No Dough - Saving Money in Slim Times

By the way, that’s miserly, not miserable.

I’m very excited to be the winner of the the first blog giveaway hosted by Economic Endeavors in which I won a copy of the book Miserly Moms. I have had my eye on this book for awhile, but I was too cheap to buy it for myself! It was the first time I have won a blog prize and was so thrilled when I got the email. Number 13 turned out to be my lucky number despite the fact that I’ve had some pretty rotten luck lately.

I am about three quarters of the way through the book and really love it.  Hopefully when I’m done I will be able to pass it along to someone else.

Thanks to The Centisible Sawyer for posting about this contest and leading me to another blog I love to read everyday!

One simple thing I’ve learned on this journey to save money is that sometimes my frugal attempts will cost me more money instead of save me money.  I’ve had to learn to stop beating myself up when those times arose and instead just learn from my mistakes and move on.  So what type of things will cost you more?

1. You buy a cheaper product only to find out it doesn’t work or is extremely inferior.  Beware of this when purchasing generic products.  You don’t want to have to spend money on both the cheaper item and the more expensive item - instead learn which items are worth the added expense for the quality.
2. Driving all over town to get a good price.  This is not something I see people do so much now that gas is over $4 a gallon, but I used to hear about it a lot.  Driving 10 extra miles to save $1.00 does not make sense no matter how you add it up.  Now, if it’s on your way and the savings are significant, then consider it.
3. Trying to make your own products.  Need I mention my dishwasher detergent?  I also had good intentions of making laundry soap and purchased the Borax and Zote, neither of which have been used.  Now if you’ve already tried it and it works for you, then this doesn’t apply to you.  I know many people have had great experiences doing this - I’m just not one of them.  Good intentions will not save you money.
4. Buying a more expensive product because you have a coupon.  This is really a tricky one because if used correctly, coupons can be wonderful things.  But most beginners don’t understand how they should be used and will instead just grab a product off the shelf because they have a coupon for it.  Do yourself a favor and take a look at your alternatives - you may be able to find a better price without a coupon.
5. Buying things you don’t need just because they’re cheap.  This is a classic pitfall for anyone, not just frugal people.  When you see something that is a great deal stop a minute and think before you buy.  Do you need it?  Will you be able to use it before it goes bad?  Is it really practical?  And the excuse of “I can resell it on eBay” won’t work either because the odds are good that you won’t recoup your costs.  Stop kidding yourself and save your money!

So as you go throughout your day, really analyze the ways you save money.  Could there be areas in which you’re losing money in the process?  Fix those problems and move ahead with new ways to be frugal.