Comments on: Does Being Frugal Have to Be Time-Consuming?

By: Rachel

Rachel — Wed, 29 Nov 2017 02:31:46 +0000

In reply to Andrew@LivingRichCheaply. Those are great points, Andrew. I think mindful frugality is worth the effort. For instance, if I see a coupon for a product I regularly buy, of course I will use it. I try to unplug appliances when we aren't using them and I try to go as long as I can without turning on heat or air conditioning. Because those things are all easy for me to do. But for me personally, it is more worthwhile to invest my time making more money instead of practicing extreme frugality. Thanks for your comment!

By: Andrew@LivingRichCheaply

Andrew@LivingRichCheaply — Tue, 28 Nov 2017 21:27:17 +0000

Frugality to me means cutting out costs and expenses that aren’t important to you and making better spending choices. However when someone starts spending too much time trying to save a little money or doing things that really won’t save much…I think they start moving from being frugal to being cheap. At least that’s my definition. Frugality is great foundation but ultimately it can be limiting. The next step is to increase your income by learning a new skill, investing or starting a side hustle or business.

By: DC @ Young Adult Money

DC @ Young Adult Money — Mon, 27 Nov 2017 23:45:03 +0000

In reply to JoeHx. I actually said something similar in another comment! Definitely a larger time commitment at first for many money-saving activities. A lot in common with side hustles that make money.

By: DC @ Young Adult Money

DC @ Young Adult Money — Mon, 27 Nov 2017 23:44:04 +0000

In reply to Chonce. I think a lot of people simply don't have that "go to" side hustle that they can substitute for couponing. Couponing is very much on your own time and schedule, which only some side hustles align to (yes, there are still many options). I also think it can be a catch-22 where at first you don't save much per hour but once you are better at it you can justify the per hour savings.

By: Colin Ashby

Colin Ashby — Mon, 27 Nov 2017 20:34:02 +0000

Frugality is worth it when you do things like negotiate your bills (cell phone, auto insurance, internet) and cook at home vs. eating out, like you mentioned.

Clipping coupons isn’t really my thing and I always tell people to utilize FinTech services to help them save more. Things like RetailMeNot, Honey App, Ebates, and Ibotta can get you cash back or save you money without having to go through all the work that couponing would require.

By: JoeHx

JoeHx — Mon, 27 Nov 2017 18:34:28 +0000

One thing with frugality – and this goes for side hustles as well – is that there’s normally a larger time commitment when starting a frugal habit than when the frugal habit is more developed. This often has to do with the learning curves involved. For instance, if you do like couponing, you might not initially know where the best coupons are. So you spend an hour looking for a 50 cent coupon, which is a horrible rate. But later, you know when and where that 50 cent coupon will be – maybe the newspaper isn’t the best place, but eCoupons are – and now it only takes a minute to find that 50 cent coupon. What was once was $0.50 / hour is now $30 / hour ($0.50 x 60 minutes).

By: giulia

giulia — Mon, 27 Nov 2017 15:19:35 +0000

Have a frugal life can be a good choice to understand difference between needs and wants but became a true extreme cheapskaters could be not so good deal….great post thanks for sharing!